WEALTH FOR COMMUNITY BANKS: CAPITALIZING ON OPPORTUNITY

Transcription

1 WEALTH FOR COMMUNITY BANKS: CAPITALIZING ON OPPORTUNITY

2 AS A COMMUNITY BANK, YOUR GROWTH POTENTIAL IN THE WEALTH SPACE IS LIKE NO OTHER. WHY? Consumers increasingly want products that are easy to understand and use, and they want more help in achieving their financial goals. 1 As a community bank that focuses on personalized service and trusted relationships, this is your sweet spot.

3 THE OPPORTUNITY IS HUGE CAPITALIZE ON IT. The vast majority of bank consumers - 79% - currently have no form of financial advisor. 1 50% of bank consumers want to meet in person with an advisor across different age groups. 1 Among customers with more than $100,000 in investable assets, only 31% are held at the customers primary bank. 2

4 YOU ALREADY HAVE WHAT IT TAKES. As a community bank, you have a knack for making every client feel important and secure. That s because: Your structure fosters collaboration, a holistic approach to personalized service, and long-term, customer-centric strategies. Your distribution enables more frequent face-to-face meetings and trusted relationships. Your product suites are unique, enabling a tailored, planning- and team-based approach to securing reliable investment returns.

5 USE YOUR ADVANTAGES TO PURSUE TWO BIG GROWTH OPPORTUNITIES: CUSTOMERS WHO WANT HELP WITH LIFE EVENTS. 6 out 10 consumers foresee a life event in the next 36 months that will significantly impact their finances. 1 Except for retirement planning, their primary financial institution is their first choice for funding anticipated life events. 1 Although up to 19% have not decided who to turn to for financing anticipated life events, up to 24% plan to turn to a financial institution other than their primary bank for funding key life events. 1 THE UNDERREPRESENTED NEXT GENERATION OF WEALTH AND EMERGING AFFLUENT. $30 trillion in assets in the U.S. will transfer from Baby Boomers to Millennials over the next 30 years the biggest wealth transfer in history. 3 66% of children fire their parent s financial advisor following inheritance transfer and that number is expected to grow to more than 90%. 3 Community banks serve only 18% of consumers years old, compared to the four largest U.S. banks serving 37% of these younger consumers. 1

6 MAKE SURE YOU RE THERE FOR THEM THROUGHOUT THEIR LIFETIMES. CONSUMERS WANT A HOLISTIC VIEW OF HOW THEIR FINANCIALS ALIGN WITH THEIR GOALS. Ensure their financial plans are in sync with their life plans Assist them throughout their life stages with holistic, goal-based wealth management THE NEXT GENERATION OF WEALTHY CONSUMERS AND BUSINESS OWNERS AND WEALTH MANAGERS CRAVE: Financial education Digital engagement and delivery A simple and efficient experience dealing with their money Personal and tailored attention

7 ARE YOU IN? HERE S YOUR CHECKLIST: Capitalize on your advantages Build relationships with Millennials Educate future beneficiaries Onboard skilled, younger advisors Outsource processes that don t add value Keep track of technology innovation More community bankers are carefully reviewing technology as a tool for top-line growth, growing their share of assets, and expanding their customer base.

8 YOUR NEXT STEP: TALK WITH US. FIS CAN HELP YOU: STRENGTHEN YOUR COMPETITIVE ADVANTAGE We ll help you enhance the client experience and utilize your distribution and service capabilities to their fullest potential. KEEP YOUR DISTRIBUTION CHANNELS HEALTHY AND GROWING Our integrated wealth solutions and models will help you deliver personalized services your customers desire across the engagement continuum. IMPROVE MARGINS AND EFFICIENCIES We provide a wide range of software tools, endto-end solutions, wealth outsourcing and managed services options to meet your specific needs.

9 GET STARTED TODAY. Contact us. Visit fisglobal.com or FIS Consumer Banking PACE Index 2 TNS Retail Banking Monitor, November InvestmentNews, July 2015, The information included herein is intended for general informational and educational purposes only. Such information is not intended as investment, legal or tax advice to anyone, and should not be relied upon as such. We encourage you to evaluate such information with your own advisors and legal counsel.