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Are you and your banker right for each other?

Are you and your banker right for each other?

Posted on:  , 
Author: ATB Business & Agriculture
Have you ever taken one of those quizzes to gauge the health of your relationship? Perhaps its time to do something similar to evaluate your connection with your banker. After all, the right banker will help you with your day to day banking, growth, and cash flow.

Ed Straw, Vice President of Strategic Business Solutions, ATB Business & Agriculture has more than a decade of experience as a bank executive. He’s in the business of helping entrepreneurs and he takes great pride in keeping his relationships with them strong.

Follow his checklist to determine if you’ve got a healthy life together or if your banker is ‘just not that into you’.

  • Is your banker curious?

    “A good business banker will ask a lot of questions and it’s not because they’re being intrusive or probing. They want to understand what you’re doing,” suggests Ed. Expect them to ask about all aspects of your business. If your banker isn’t asking, that could be a concern.

  • Does your banker make time for you?

    Ed says your banker should contact you frequently and in a way that you want to connect. Ideally, you would determine that together. Do you want to touch base every three months, or three weeks? Would you like a phone call, an email, or a meeting?

  • Does your banker really care?

    Ed believes a banker needs to be interested in your business and in you personally.

    “If they don’t know what your dreams and aspirations are both personally and for the business then they’re the wrong person.” Often an entrepreneur’s personal life and business are so connected that it’s difficult to separate them.

    You must have the conversation about where you want to be in three to five years, what you’re doing to get there and how to the build the financial plan to make sure you’re successful.

  • Will your banker take the next step?

    The very best bankers are willing to go beyond banking. They have the contacts outside of the banking world to help you succeed.

    “There are lots of resources available and lots of solutions and supports that they can provide, if you’re not getting it, demand it.”

    That may mean finding a new banker either within the same financial institution, or elsewhere.

Looking to make a connection? Find a business banking specialist in your area