Susan Fairchild is a Senior Vice President and Women’s Business Advocate in the National City Private Client Group in West Palm Beach, Fla., which assists high-net-worth individuals with their financial needs. We spoke with Susan about the importance of developing relationships with trusted financial professionals who can help you assess your financial position and determine what you need to achieve your goals.

INSIGHTS: Can you describe your role as a private banker?

SUSAN FAIRCHILD: I handle the lending and overall banking needs of high-net-worth clients. I’m also a member of a team that includes a relationship manager, a portfolio manager, a fiduciary officer and sometimes a brokerage specialist. Many times, the relationship starts with me, but as I learn more about the client’s needs, I introduce them to the team members.

INSIGHTS: As a client, what should I look for in a banking relationship?

SF: The most important element is trust. The more information I have about you, your family, your work situation and your retirement or other goals, the better equipped I’ll be to help you. So it is critical that you find someone you’re comfortable discussing these issues with.

INSIGHTS: What level of planning do clients usually bring to the table?

SF: Often they’re very successful professionals who don’t have the time or know-how to effectively manage their finances or plan for the future. They may have a few pieces of the puzzle in place, but we try to round out the picture.

INSIGHTS: How do you do that?

SF: We review the client’s overall balance of assets and liabilities, and we ask a series of questions about aspects of their financial picture—from investments to insurance, to succession and estate planning. For instance, a lot of clients have insurance, but they may not have reviewed it in a long time and may not know what it’s doing for them. Or they might have a will, but haven’t considered durable power of attorney, titles and trusts. In terms of investments, we look at the level of risk they’re exposed to and suggest ways to align it with their comfort level and time horizon. Using the team approach, we can look at the big picture and make sure all of the components are working together and that the overall asset allocation is appropriately diverse.

>> For information about personal financial assessments, speak with your WBA or send an e-mail to Susan at Susan.Fairchild@NationalCity.com.