The June 2025 report explores how wealth managers can convert business owners—who control $22 trillion or 30% of U.S. household financial assets—into clients. Despite close ties to financial institutions, only 22% of business owners consolidate personal investments with their business bank. Referrals from clients and professional partners are the most effective acquisition channels. Bank wealth managers are well positioned due to access to commercial client data, but internal complexity and referral hesitancy hinder success. Strong, incentivized partnerships between commercial and wealth teams are key to converting these prospects.

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