Arvest’s Fayetteville Private Banking Branch Also Growing
by October 19, 2009 12:00 am 131 views
Arvest Bank’s private banking arm in Rogers isn’t the only one that’s enjoyed growth in recent years.
Arvest’s private banking department in Fayetteville, which has been in operation for more than 10 years, currently services more than 600 clients. That total includes some commercial entities.
The Fayetteville office has less strict requirements for entry into its program, according to senior vice president Xochitl Baxter. Clients need a minimum income of $150,000 and/or liquid assets ready for investing of at least $300,000. They also must establish a full-service banking relationship with Arvest.
The aim in terms of customer service, however, remains the same.
“To me, the goal of private banking is to provide a banker for these particular customers that can service everything they need with one phone call,” Baxter said. “It’s all about convenience.”
That means helping customers, whether it be something simple like starting a checking account or something more complex, like starting or buying a business. Sometimes it also can be something less tangible, like taking a phone call on a Sunday afternoon to offer a few words of advice.
“That’s actually my favorite part,” Baxter said, “building those kinds of relationships with people and getting to work with them again and again.”
The Fayetteville office has five private banking officers and two financial planner/investment advisers, and is Arvest’s only private banking department with a dedicated branch location.