Private banking includes personalized financial services and products that retail banks and other financial institutions offer to high-net-worth individuals (HNWI). These services and products often include:

• investment and portfolio management

• wealth management

• tax services

• will, trust, and estate planning services

• insurance products

• jumbo mortgages

• lines of credit

• bill payment.

Private banking clients often receive discounted or preferred pricing on these services and products.

To be eligible for private banking services and products, retail bank clients are often required to maintain balances in their bank accounts (checking, savings, money market) and investment accounts (IRAs, mutual funds) totaling $150,000 to $250,000 or more.

In Arizona, private banking services are regulated under both state and federal laws. These services cater to high-net-worth individuals by offering a suite of personalized financial products and services, which can include investment and portfolio management, wealth management, tax services, estate planning, insurance products, jumbo mortgages, lines of credit, and bill payment services. Clients typically receive preferred pricing and may need to maintain a certain balance across their accounts, often ranging from $150,000 to $250,000 or more, to qualify for private banking. Arizona's financial regulations ensure that institutions offering private banking services adhere to consumer protection laws, maintain the confidentiality of client information, and comply with anti-money laundering statutes and other applicable federal regulations such as the Bank Secrecy Act and the Dodd-Frank Wall Street Reform and Consumer Protection Act. Additionally, investment services are subject to oversight by the Securities and Exchange Commission (SEC) and must comply with relevant securities laws.