3 Signs You Need a Personal Banker – Even in the Digital Age

Dawn Papandrea, First Republic Bank
September 2, 2021

  • Making major financial decisions? You may find that financial apps and online tools aren't enough.
  • A personal banker can provide you access to bespoke guidance on financing major life events, such as buying a home or saving for college.   
  • Personal bankers are a great supplement to your DIY money management tools — here are 3 reasons to use one.     

If you have your bill payments on autopilot, text alerts for your credit card transactions and make mobile check deposits, you’ve fully embraced money management in the digital age. But for all the independence from mundane money tasks that technology affords, the lack of personalized service from live humans can sometimes result in lost opportunities.

For the big financial decisions you make in your working years — such as buying a home, tapping into equity and saving for college and retirement —  having a personal banker by your side can provide you with a big advantage Think of it this way: a personal banker is like having your very own financial concierge. They're an insider with a wealth of information who can also connect you with the best experts

Here are three signs it’s a great time to start working with a personal banker. 

You’ve got a big financial milestone coming up

Whether it’s buying your first home or opening a college savings account for your newborn, you may not fully understand the steps you need to take to get started on a particular financial journey. Or, you might think you’re all set, but then a question arises or a new set of circumstances emerges.

Typically, your only recourse is to dial an 800 number, send a message off to a generic email inbox, or "chat" with a bot. After listening to bad hold music, getting disconnected or having your email disappear into oblivion, you simply just want to connect with a person who can help you.

With a personal banker, you can enter into a major financial decision more confidently knowing there is somebody at the ready who will be able to get you an answer relatively quickly. They can address your needs directly or put you in touch with someone who can — without having to cycle through an array of automated menu options.

You feel like you need some personalized attention  

Being a digital native means you’re used to being an online sleuth and self-directing all of your various accounts. But website FAQs typically offer generic advice that may not be applicable to your financial situation. The good news is that when you have a personal banking relationship, you can shoot off an email, call a direct extension or set up a meeting in person to discuss your unique needs.

Personal bankers take the time to get to know you and understand your financial goals, working with you and a team of people to customize help you reach those milestones. That team will crunch your numbers and lay out your various options and possible next steps.

You’ve got competing priorities

While reading online financial content can be an excellent way to learn about specific banking tools, a personal banker can help you learn about that topic in context. Perhaps you're a homeowner who is also investing in a new property, while getting your solo business venture off the ground. If you’re balancing multiple financial ventures, a personal banker can help you go over all the pertinent figures, refer you to the appropriate financial professionals and guide you in prioritizing your goals. 

No one should feel like they have to navigate financial transitions without a trusted partner. A personal banker means having a knowledgeable and objective resource on hand for any question, no matter how small or large. They look out for you when new opportunities arise, or if they notice that you’re not making the most of a financial product. By maximizing a personal banker relationship, you will make more informed money decisions and always have someone looking out for your best interest. 

Contact First Republic Bank today to get connected with a personal banker.

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