Lending to Wealthy Individuals
March 16 @ 8:00 am - 5:00 pm
Financial institutions that identify and meet the needs of wealthy individuals, and that can analyze the risks involved, have the opportunity to build profitable long-term relationships with these clients and their referrals.
Lending to the wealthy is somewhere in the middle of the commercial side and the retail side of banking. Wealthy clients aren’t looking for the restrictions of consumer lending or for commercial lending based on corporate loan policy; they often look for a banker who can provide sizable, flexible credit facilities on a timely basis and who can understand and execute their requests for credit and noncredit services.
However, bankers servicing these individuals must be alert to the potential pitfalls. It is rare to have access to audited financial statements, so the banker must become more astute about obtaining, verifying, and analyzing financial information when making a credit decision.