Truist Premier Expands Advice-Led Banking for Mass Affluent Clients…

Event summary

Truist Premier, a dedicated offering for mass affluent clients with $100,000 or more in assets, combines premium banking benefits, personalized financial planning, dedicated support, digital tools, and investment guidance.
Truist Premier clients receive access to a team of advisors via the Client Advisory Center and personalized financial planning through a dedicated Premier advisor.
Truist Premier clients who are also Truist Small Business owners have access to qualified expertise to grow personal and business financial plans with a holistic view aligned to their portfolio needs.
Truist Premier deposit production increased 27% since last year.

The big picture

Truist Premier's expanded strategy reflects the growing demand for personalized financial planning and advice among mass affluent clients. With only 53% of mass affluent consumers currently working with a professional financial advisor, according to research conducted by Truist and Morning Consult, there is significant opportunity for Truist to capture market share. The bank's continued investment in advice-led banking and digital innovation positions it to compete effectively in the high-growth markets in the U.S.

What we're watching

Competitive Positioning: How Truist Premier's advice-led banking approach will differentiate it in the increasingly competitive mass affluent segment.
Client Adoption: Whether Truist can sustain the 27% deposit growth rate as it expands access to more clients through hiring additional Premier advisors.
Digital Integration: The pace at which Truist can integrate digital financial planning tools to increase access and deliver tailored, actionable planning and advice.