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Establishing a Financial Planning Offering: A How-to Guide for Banks

By Jay McAnelly

As customers save for children’s college expenses, prepare for retirement and manage their finances through other life stages, there is a real opportunity for community banks to help them reach their financial goals. In fact, a recent study from J.D. Power reveals that 78 percent of U.S. retail bank customers are interested in receiving financial advice or guidance from their bank. Community banks can position themselves to meet this need by making financial planning a part of their offering. In addition to driving customer satisfaction and loyalty, it can also create new sources of revenue and growth. If you’re a community bank leader contemplating ways to build out a financial planning capability for your customers, here are three strategies to get started.

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Equipped for Retirement

Don’t overlook equipment as an asset

By Mark Stock

As the farming population in the U.S. gets older, more and more farmers are thinking about retiring and what follows. The role of a commercial banker in the retirement process is an invaluable one: Helping their clients plan for retirement. From a farmer’s perspective, the retirement process can seem overwhelming, impacted by personal circumstances. Why are they retiring? How much money do they need to comfortably retire, and what can they do to get the most out of their assets?

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Proactively Managing the Bond Portfolio

By Dennis Zimmerman Jr.

There are three important elements to achieving long-term excellence in the performance of the fixed income investment portfolio. The first is attention to detail. The second is to craft then follow a strategic plan that fits the overall goals of the institution. The third simply requires management to be proactive rather than reactive. While the first two are certainly important, this article will primarily focus on the third element — proactively managing the bond portfolio. Successful community bank investment officers understand that when it comes to proactively managing the portfolio, best practices generally follow one of two basic themes: What to do and what NOT to do. Select key best practices are listed below:

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Chicken Little and the Economy

By KC Mathews and Eric Kelley

Chicken Little would have been a terrible economist. She was hit on the head by a falling acorn and immediately declared “the sky is falling.” Perhaps a bit more analysis should have been conducted since the sky, in fact, was not falling.

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Survey Highlights Assurance in U.S. Dollar, Stock Market; Confidence in Commodities Cryptocurrencies Hits New Low

The latest survey by New York-based Sophisticated Investor shows investor asset class confidence reflects the prospering state of the U.S. economy.

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