How Private Banking Works. Your Banking Advisor will work with you to develop a personalized cash management strategy that is designed to help effectively manage your most liquid asset and achieve your savings. Private banking includes common financial services like checking and savings accounts, but with a more personalized approach: A "relationship manager" or "private banker" is assigned to each customer to handle all matters.
Active private banking involves constant input and decision making from the HNWI, while passive allows the bank to manage the assets without substantial direction.
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Wells Fargo and Company and its affiliates do not provide tax or legal advice. Private banking is banking, investment and other financial services provided by banks and financial services firms primarily to high-net-worth individuals (HNWIs) with high levels of income or sizable assets and increasingly the Mass Affluent market as well. Your Banking Advisor will work with you to develop a personalized cash management strategy that is designed to help effectively manage your most liquid asset and achieve your savings.