Pub. 2 2011 Issue 2

www.wvbankers.org 26 Community Trust Bank Andrew Jones was recently named Northeast Region President. He will be responsible for acquisition, retention, and expansion of new and existing client relationships by providing complete financial solutions to individuals and businesses in northeast Kentucky and southern West Virginia. People’s Bank, NA Michael C. Balsimo was recently promoted to the position of Assistant Vice President, Marketing Officer. Balsimo is responsible for overseeing the development and implemen- tation of all marketing, public relations and corporate communications efforts for all divi- sions of the company. Peoples Bankcorp, Inc. Michael W. Hager recently joined the bank as Executive Vice President, Human Resources. Hager is responsible for the design and imple- mentation of all human resources strategies, policies and processes throughout the company. Charles W. “Chuck” Sulerzyski was recently appointed President and Chief Executive Of- ficer. He will succeed David L. Mead, who has served in these capacities on an interim basis since August 2010. Barry Dayley is Executive Vice President of Money Concepts International, Inc. and heads up their Financial Institution Program. Money Concepts International, Inc. is a full service wealth management organization. Money Concepts has been helping independent financialadvisorsandfinancial institutionsdeliverprofessionalfinancialplanningandwealth management services since 1979. E-mail: barry@moneyconcepts.com than $36 million in fee based assets under management. Not bad for a former loan officer! Recently they added Bridget Han and Joseph 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, referral giving client base. Another example is from a relatively newwealth management program at River Valley Financial Bank inMadison, Indiana. Matthew Forrester, President of the bank, caught the vision of what WealthManagement Services could do for their customer base, and he aligned the bank with theMoney Concepts wealth man- agement program. He assisted in the recruitment of a successful financial planner in the community, Bill Hensler, to serve as their Vice President of WealthManagement. Because of strong ties in the community and commitment to a client centered holistic approach, River Valley Financial Bank gathered over $25 million in assets under management during their first 8 months in the business. Client acquisition and retention are still imperative for success- ful participation in this market battlefield. Knowledge both of markets and of clients, and their “financial personality”, are vital factors for sustainable performance. These, along with the inte- gration of all of the divisions operating in the bank, are essential for a successful program. Most community banks operate through a traditional banking platform providing depository or savings products, lending prod- ucts and services, and in many cases investment and insurance products are also available. Without exceptional leadership and vision, these three divisions become self-serving silos with little or no interaction and communication. See Figure 1. In order to build a robust wealth management program, it is es- sential that the focus be placed on the needs of the customer and an alignment take place to break down the silo walls for a fully inte- grated life planning approach. See Figure 2. No matter the size of the community bank, this approach can enhance relationships, in- crease sales volume and product count per customer, and increase and diversify the revenue stream. In addition, the Life Planning approach can set a community bank apart through the delivery of a “Client Centered” experience that will raise your bank to the top in the competitive investment arena. If your bank is not offering wealth management services, or if your program is not as successful as it should be, consider offer- ing wealth management services and aligning your bank with an organization that can help you deliver these services in a way that will set your bank apart from the competition. 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 profits. Product Sale Deposits Lending Investments & Insurance Tradi ti onal Banking Approach Customer Figure 1 Life Planning Deposits Lending Investments & Insurance Integrated “Client Centered” Approach Customer Figure 2  Holistic Wealth Management — continued from page 16