Small Business Banking Loyalty Shifts as Firms Prioritize Advisory Relationships — William Mills Agency

Event summary

William Mills Agency published a Bankers as Buyers™ Research Highlight report on July 30, 2026.
The report examines survey data from 600 U.S. small business owners on banking relationships.
Key finding: Small businesses prioritize trusted advice and deeper banking relationships as they grow.
Seven industry leaders provided expert commentary on the research findings.

The big picture

The report highlights a strategic shift in small business banking preferences, moving from transactional relationships to advisory-driven partnerships. This trend underscores the importance of personalized service in an increasingly digital financial landscape. As small businesses grow, their need for comprehensive financial guidance is likely to drive consolidation around primary providers that offer both traditional banking services and consultative support.

What we're watching

Advisory Services Demand: How financial institutions will adapt to the growing demand for trusted advisory services among small businesses.
Channel Preferences: Whether traditional banks can sustain their relevance as digital-first fintech platforms gain traction with small businesses.
Loyalty Drivers: The pace at which banking priorities evolve and how quickly institutions can respond to changing customer expectations.