Beautifying Your Financial Picture

5 Ways A Personal Banker Helps Your Finances

by Darryl Nguyen

When it comes to choosing a banking institution, many consumers focus on things like fees and easy access to their accounts. And while these facets of the banking experience are important, don't overlook the value of weighing the institution's personal, live banking services. How can a good personal banker help you as a client? Here are a few important ways. 

1. Help Understanding Products

Most bank customers aren't financial professionals. So, when presented with a list of choices, products, and services, they may not know much about what's being offered. A personal banker will answer questions, go over choices in laymen's terms, and explain differences between options. 

2. Resolving Problems

Where will you turn if you have a concern about your account, a transaction, fees, or restrictions on accounts? Even though automated systems make many transactions easier, they may not be of much use when you have a problem. Rather than have to rely on online chats, email, or anonymous call center employees, look for a personal banker whom you can call instead. 

3. Recommendations for New Options

Expand your financial options by partnering with an institution that helps you take advantage of new choices. If you don't have an IRA, for instance, you may be missing out on an important retirement account. But you also must understand when a different choice — such as a Roth IRA — may be better. Personal bankers use their knowledge of your banking style and goals to offer choices that could benefit you even more. 

4. Assistance With Planning

Most Americans are encouraged to use financial planners, but many cannot afford to or are hesitant to do so. A personal banker is a good compromise that provides help with some planning elements at little or no cost. They can assist you in setting up accounts, deciding on automatic contributions, using budgeting features the bank offers, and learning how to analyze your own spending. 

5. Helping Family Members

Parents and grandparents can use personal bankers to help start future generations on their road to financial success. Most young adults aren't versed in bank products and may feel intimidated by the banking process. By developing a relationship with a personal banker and including family members in your meetings, you teach them not only how to handle their own finances but also who can help them with questions. 

Where to Learn More

Want to know more about personal banking services and how they can make your finances less stressful and more successful? Start by visiting with a personal banker in your area today.