PITTSBURGH, Pa. – PNC Bank announced that its consumer brokerage business, PNC Investments, will be renamed and rebranded as PNC Wealth Management.
The new name, which will be fully implemented in the weeks and months ahead, reflects the firm’s growth, expanded capabilities and commitment to delivering holistic financial solutions to clients, a news release states.
“This is more than a name change – it’s a signal of our future,” said Alex Overstrom, PNC head of retail banking. “PNC Wealth Management represents the focus and investment we are making in the platform to serve the holistic financial needs of our clients, providing them with the advice and solutions they need to achieve their long-term financial goals.”
PNC’s consumer brokerage business has more than $92 billion in client assets. The firm serves a wide range of customers, from first-time investors to affluent clients (high and ultra-high net worth investors continue to be served through PNC Private Bank). The bank’s broker-dealer meets the financial planning, investing and insurance needs of customers using an “advice and planning” model delivered through approximately 800 financial advisors and comprehensive digital solutions.
“PNC has long provided more than traditional investment accounts within our broker-dealer business,” said Rich Guerrini, PNC Wealth Management president and CEO. “Financial planning and investing have always been central to how we help clients achieve their financial goals. The PNC Wealth Management name reflects the next step in our evolution, positioning us to serve current and future clients in even broader, more meaningful ways.”