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Top Trends In Wealth Management

Here are some trends propelling the need for expert wealth management services.

Apr 7, 2015

Wealth management is booming in the United States and it’s no wonder. Americans are facing a myriad of financial challenges, and many are realizing that managing money and planning for a secure financial future is complex. Fortunately, help is close at hand. Banks, the places people already trust with their checking and savings accounts, can offer guidance.

Americans realize that managing their money is more important than ever before.

Not only have the costs of both living and retiring skyrocketed in recent years, but individuals now pay a greater share of everything. In the recent past, employers shouldered more of the burden, but workers are now expected to contribute significantly more for their health care and retirement costs.

Retirement planning is more complex.

Because social security payments are unlikely to cover retirement costs, Americans without adequately funded plans may be unable to retire comfortably.

The United States Department of Labor reports that the average retired household spends more than $40,000 annually. A 2010 Federal Reserve Bank study reported that the average American household nearing retirement had only $12,000 in savings. As Americans consider their future financial security, they face an investment industry that offers a set of increasingly complex options, including 401(K) accounts, time-horizon retirement funds, annuities, reverse mortgages and more. Many of these are difficult to understand, and Americans are realizing that wealth management is more important than ever.

Banks offer Wealth Management

For years, large American banks have offered wealth management to select clients. Today, many regional and local banks have added wealth management to their services. The variety of wealth management services offered by banks, and their broker/dealer subsidiaries, includes private bankingwealth planning, investment management and trust services.

Zions Bank offers a full range of wealth management services. Our broker/dealer subsidiary, Zions Direct, also offers online self-directed investment services. Or, Zions Captial Advisors offers more fully managed strategies to help manage your portfolio.

Online brokerage products are offered through Zions Direct, member of FINRA/SIPC and a non-bank subsidiary of Zions Bank. Wealth advisory services are offered through Zions Capital Advisors, Inc., which operates as Zions Wealth Advisors. Zions Capital Advisors (ZCA) is a registered investment adviser, a non-bank affiliate of Zions Bank and a non-bank subsidiary of Zions Bancorporation.

Investment products and services offered through Zions Direct, Zions Capital Advisors and Zions Trust are not insured by the FDIC or any federal or state governmental agency, are not deposits or other obligations of, or guaranteed by, Zions Bank, Zions Bancorporation or its affiliates, and may be subject to investment risks, including the possible loss of principal value or amount invested.

Bank Deposits and Certificates of Deposits are FDIC insured up to applicable limits.

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