Why is a company’s financial plan so invaluable to its banker?
A lot of people throw around the term ‘relationship banking.’ Having a company’s financial plan allows us to take it a step further and practice collaborative banking. We are able to provide our clients with a deeper understanding of how the bank views financial transactions and we develop a deeper understanding of our clients’ motivations and interests. When a company shares financial expectations with its bank, it will benefit by providing the banker with the opportunity to recommend other services including treasury management and private banking that may be appropriate based on its future outlook. Collaborative banking benefits everyone involved; the company receives the support it needs, and the bank has the opportunity to add value by providing targeted banking solutions. MELISSA POLLARD is senior vice president in Comerica’s North Orange County Middle Market Banking Group. Reach her at (714) 940-6751 or mjpollard@comerica.com.
