Fiscally fit: private banking keeps your plan in place.

• Author: Sutherland, Spencer
• Position: Business Trends

ATMs. Phone transfers. Online banking. For years, banks have worked tirelessly to help clients bank without having to enter their buildings. Though these services have made accessing and managing funds more convenient, in times of economic trouble, concerned investors want a more personal touch. Banks throughout the state are offering private banking as a way for clients to get the attention they need. Through private banking, individuals with approximately a $2 million net worth or $300,000 annual income can have their financial institution's undivided attention. Senior Vice President of Private Banking at Zions Bank, Susan Speer, explains Zions' private client service mantra. "We offer superior service. Our phones never go to voicemail; a human always answers the phone."

With 20 private bankers, Zions boasts the largest private banking corps in the state. Speer says her private banking managers look out for their clients, wherever they may be. "If a client is going on a trip, we get foreign currency for them. We monitor their credit card while they're away to make sure everything looks legitimate. We've even had private bankers meet clients at the airport it they've forgotten something."

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The One-Stop Shop

While the concierge-like service is certainly appreciated, the convenient access to weightier financial services is the real selling point. For Key Bank, the goal is to become a one-stop shop for their wealthy customers. "Our approach is 'advise-centric,'" says Rick Gross, Key Bank senior vice president. "We offer expert advice in a number of areas that the wealthy are typically engaged in--financial planning, estate and business estate planning, insurance needs and more traditional bank products."

While an independent financial planner could certainly advise on any of these topics, a brick-and-mortar financial institution helps an individual carry out the advice, Gross says. "We've married the solution with the advice. When it comes to areas of investment management, trust powers, etc., we can take care of it without having to refer it to another source. It's all in house."

Pain-Free Lending

The core of any private banking department is lending. Rather than apply for a loan with a random loan officer, private banking clients work through the process with their personal banker.

"When it comes to a privately-owned or closely held business, we can take care of the lending process right through private banking," Gross...