PNC Wealth Management introduced a new integrated bank and investment offering that would provide clients with a high-touch, high-end banking and investment experience.
Known as PNC Premier Client, the offering is tailored to serving the banking and investing needs of clients with more than $100,000 at PNC, and would provide the emerging and mass affluent with holistic financial solutions through its network of affluent bankers and financial advisors.
“As we look across our Retail client base, as well as at the broader demographics of our markets, it’s clear there is demand for a more tailored, high-touch approach to supporting the comprehensive financial needs of the emerging affluent,” Alex Overstrom, head of PNC Retail Banking, said. “Premier Client is our answer to that need, bringing the capabilities and service model traditionally associated with a high-net-worth provider to these clients – delivering a $3 million experience to those with $300,000.”
The bank said its internal research shows that there are over 26 million “mass affluent” households in the U.S. and that these clients and their families are continuously looking to build ongoing wealth. Most, the bank said, are very active with their finances and highly engaged with the providers they chose, and tend to focus on long-term goals, like saving for retirement.
The PNC Premier Client will be delivered through the bank’s Wealth management division and will provide clients with an holistic approach to savings, borrowing, spending, insurance and investing needs, as well as dedicated teams consisting of a personal banker and a financial advisor working together to help achieve a client’s financial goals.
“As our clients’ financial situations become increasingly complex, the next phase of our approach is to address these evolving needs.,” Rich Guerrini, president and CEO of PNC Wealth Management, said. “PNC Wealth Management is committed to offering Premier Clients an integrated experience — combining expert guidance, personalized service, advanced technology and a comprehensive portfolio of products — to support their success at every stage of their financial journey.”