What Is a Personal Banker?

Video Transcript

"OK, so what is a personal banker? Sometimes you'll look at either a job listing for a bank, or you'll look at maybe one of their promotional pieces, and you'll see it sometimes, personal bankers. Personal bankers, for the most part, usually, are people who will, they'll be in the banking side, in a bank, and they'll work with in the financial institution, really looking at your particular selection of assets. And usually you'll have a personal banker when there's someone, when there's a client who has a substantial amount of assets, they may have a number of different CD's, they've got mortgages, they've got, you know, other deposits with the bank. So, they've got a pretty extensive relationship, and the personal banker's job really is to look at those things, and analyze them, and find out maybe what other services would be of use to the client. Also, to bring in more business if the client has business else where. And this really is sort of the common usage of the term personal banker, these days. A long time ago, in some of the larger trust companies, a personal banker really was, and still is, in some instances, some one who really took an interest in all of your financial affairs, and acts very much like a broker would, these days, with investments. They would, they would look at your entire picture, look at everything you had, and sort of, I think in the old days, if you looked at a personal banker, you'd be looking at someone who was almost more of a financial planner. But these days, usually personal bankers are someone who works within a banking institution, has a file on all your different assets, and deposits, and so forth, and they're someone you can go to and speak to about your, your personal financial needs."