More than 50% of owners/executives at both small and mid-sized companies have never been asked by their primary bank about their private banking and wealth management needs. 

Importantly, a full 42% and 50% of these small and mid-sized business executives, respectively, would consider using their commercial bank for private/wealth management services if they were presented those capabilities effectively.

Bottom Line

• Commercial banks are missing a significant opportunity to win new wealth management business
• Based on Greenwich Research, the private bank and wealth management units of regional banks can meet the product needs of most business owners and executives in the private banking/wealth management segment

To win the private banking/wealth management business of small company owners, banks must focus on effectively portraying their investment advice and capabilities as a majority of prospective clients see this as a potential weakness