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 Wisconsin, 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, and estate planning, among others. Wisconsin's Department of Financial Institutions oversees the state's banking regulations, ensuring that financial institutions comply with applicable laws and regulations concerning banking practices, consumer protection, and fiduciary responsibilities. At the federal level, private banks are subject to regulations by agencies such as the Federal Reserve, the Office of the Comptroller of the Currency (OCC), and the Securities and Exchange Commission (SEC), which enforce standards for financial services, investment activities, and the protection of client assets. Eligibility for private banking services typically requires maintaining a certain balance across various accounts, and clients may benefit from preferred pricing. It is important for individuals interested in these services to consult with an attorney or a financial advisor to understand the specific legal and regulatory implications of engaging in private banking activities in Wisconsin.