Pub. 1 2010 Issue 2
summer 2010 11 Wealth — continued on page 12 Inc. Gerry, who had been a lending Vice President and Bank President Jack Mensching, introduced the concepts of Wealth Management services to the bank and Gerry built the program from scratch. The philosophy of Itasca Bank was to offer valuable services targeting their best customers with a commit- ment to take all comers. Offering the customer a truly unique and holistic experience was to be the approach with an emphasis on gathering assets and fee based services. A unique client experi- ence customized to each individual is delivered through their systematic process of services, communications, and experiences that make the client feel appreciated or special as well as building greater confidence in achiev- ing their life goals. In the six short years Itasca Bank & Trust has had their wealth manage- ment program in operation; the bank has achieved or exceeded every initial goal it set for itself though they raise the bar each year. Customer loyalty has increased, revenues are growing at a rate of 35.31% annually, and over 70% of their new clients come from referrals. In addition, they have developed a book of business totaling more than $26 million in fee based assets under manage- ment. Not bad for a former loan officer! Recently they added Bridget Han and Jo- seph Book as additional advisors to their staff in support their growing program. Their success can be traced back to several things, but delivering a unique experience has accentuated the client oriented value of their services developing a loyal, refer- ral giving client base. Another example is from a relatively new wealth management program at River Valley Financial Bank in Madison, Indi- ana. Matthew Forrester, President of the bank, caught the vision of what Wealth Position your bank as your customer’s wealth mentor. This approach will broaden relationships with your customer base while enhancing banking and wealth management income and pro fi ts.
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