<p>I believe USAA has now opened its services up to the general public. We have used them for years. They are wonderful!</p>
<p>In private banking service, a special service we provide is to link all accounts associated to the account holder. An count holder may be an owner of a company with a separate business account, the wife may have a separate account for mad money, their kids may have their own student accounts, and we could certainly include client’s parents’ accounts. Even though those accounts are not all private banking accounts, we are able to provide them with a consolidated view. Each bank is different and have their own criteria who is “private banking” or “private client” (there is a difference) worthy. One thing we would also consider is to look at a client’s assets, even if they are not with our bank. But at no time would we consider kids’ earning potential to determine if someone is “private client” worthy.</p>
<p>If Dad II is given special service this year, it must be his assets, even if they are not all with PNC. JYM - hope that answered your question.</p>
<p>How would a bank know their clients assets if they just have an account with the bank?And if you didn’t apply for a loan from your bank.</p>
<p>It could just be assets under management with one firm. Most of my assets are at one firm and I have seven accounts with them and they aggregate the amounts together to come up with assets under management to get the higher levels of service. So they know how much I have with them.</p>
<p>Sometimes banks and brokerages ask too. I’ve received calls from my other brokerages asking about total overall assets - this is usually in the context of trying to get me to move money from another broker over to them. I’m generally frank about my allocations between financial institutions. It’s a real pain to move money around because I’m used to a certain set of systems and it would take a lot (like worries over a financial firm going under) to get me to move stuff around.</p>
<p>We use a local community bank. No-fee checking, and lots of personal service.</p>
<p>We had problems with USAA being an out-of-state bank. It is better known today because of the enormous amount of advertising it does, so perhaps we wouldn’t have as much problem now.</p>