Anyone have direct experience with BOA's private bank, good or bad?
I believe the minimum is $3m, but my understanding is that you can have that in a self-directed account. A friend was telling me that they've been very happy with their private banking team and don't pay any fees.
It would be nice if only for the relationship mortgage rates and for BoA's trust services (which I understand are pretty well regarded). My friend has also had a good experience with their banker going to bat to get them business financing terms that a branch banker would never get.
Our regional bank is nice because I have a dedicated contact and don't pay any fees, but the bank doesn't offer any relationship mortgage rates unless you put money with their expensive wealth management team. And they just don't have the breadth of services that BoA can offer for businesses.
If anyone has experience with BoA, it would be great to hear it. I would only make a move if it would be free and I could continue to have a self-directed brokerage.
I believe the minimum is $3m, but my understanding is that you can have that in a self-directed account. A friend was telling me that they've been very happy with their private banking team and don't pay any fees.
It would be nice if only for the relationship mortgage rates and for BoA's trust services (which I understand are pretty well regarded). My friend has also had a good experience with their banker going to bat to get them business financing terms that a branch banker would never get.
Our regional bank is nice because I have a dedicated contact and don't pay any fees, but the bank doesn't offer any relationship mortgage rates unless you put money with their expensive wealth management team. And they just don't have the breadth of services that BoA can offer for businesses.
If anyone has experience with BoA, it would be great to hear it. I would only make a move if it would be free and I could continue to have a self-directed brokerage.
Statistics: Posted by NYCaviator — Wed Aug 28, 2024 8:08 am — Replies 0 — Views 128