Your partner to grow a successful member-focused wealth program.
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We bring together everything that is required to provide your credit union with a modern financial planning and investment management service. Our turnkey program includes a dedicated financial advisor, technology, marketing content, compliance and practice management. The program is free to your credit union and generates recurring non-interest fee income.
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Empowering Credit Unions
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Program Features
Our team delivers extensive resources and support to launch and grow your credit union’s wealth management program. A program manager works in partnership with your team to develop a growth strategy tailored to the needs of your membership.
Dedicated Financial AdvisorWe provide your credit union with an experienced, trained, and knowledgeable advisor focused on serving the needs of your members. Advisors work to understand members' financial situation, goals, risk tolerance, and time horizon to establish a prudent plan and investment portfolio. Advisors are accessible via chat, email, phone, screen share, video conference and/or scheduled face-to-face meetings.
TechnologyOur platform is designed to provide your members with an elegant and responsive digital experience. Members have 24/7 access to an intuitive client portal that provides digital account opening, performance reporting, holding analytics, robo-advisory, data aggregation for held-away accounts, interactive financial planning tools, and a secure document center.
Multi-Channel MarketingWe provide marketing content and guidance to help promote the program and services in addition to live and recorded webinars and seminars. Marketing content includes website, print, direct mail, newsletters, advertising, email, social media, webinars, and seminars. Active marketing efforts help to create program success.
We provide employee training coupled with multi-channel marketing content. Your credit union retains control over the marketing efforts to protect member relationships and your reputation. |
Program ManagementA program manager works in partnership with your team to develop a growth strategy tailored to the needs of your membership. We provide in-branch and digital marketing campaigns, materials, and employee training. Our life cycle analytics identifies cross-selling opportunities for your deposit products. Learn more.
InvestmentsWe offer members a diverse range of investment offerings including: mutual funds, exchange traded funds, stocks, bonds, and professionally managed portfolios. Our investment team has access to a wide universe of products including passive, active, income, and socially responsible portfolios that can be tailored to the investment needs of your members.
Cooperative ValuesAs a fee-only advisory firm, Polaris does not charge commission, product, trade, transaction, or rebalancing fees. Instead, we offer comprehensive fiduciary advice for a transparent annual fee. This pricing model strongly aligns with cooperative values.
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A Complimentary, Cooperative Program |
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The program is free to all credit unions regardless of number of members or asset size. Your credit union receives recurring non-interest income on a quarterly basis. As assets under management increase, your credit union's income stream increases as well.
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As a Registered Investment Advisor (RIA), Polaris is obligated to put members' best interest ahead of its own and provide unconflicted fiduciary advice. There are no account minimums, commissions, or account fees.
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Program Benefits
Successfully fulfill your members financial planning and investment needs and goals.
GAIN RECURRING NON-INTEREST PROFITWe engage in revenue sharing to generate non-interest fee income to your credit union. The profits earned from our wealth management program diversify the credit union’s income. There is no upfront or on-going cost to your institution.
DRIVE PRODUCT GROWTH Wealth management offering helps to drive deposit product growth. Households that have purchased an investment product from their credit union are 58% more likely to have a credit card, 122% more likely to have a first mortgage, and 613% more likely to have a second mortgage than other households. Investment member households are also at least twice as likely to have a line of credit or a vehicle loan or lease than households that do not have an investment relationship. 2
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INCREASE DEPOSITS & WALLET SHAREMembers who utilize the credit union's wealth offering tend to maintain larger average checking and saving balances. The typical household that owns an investment maintains a 38% larger average checking balance. In addition, household with an established investment relationship have an average of $28,000 in savings - 140% greater than the average savings account balance of other households. 1
BOOST MEMBER LOYALTYMembers that maintain a wealth management relationship with their credit union are more likely to stay with their current institution, are more likely to recommend their credit union, and are much more likely to turn to their credit union for financial advice. 3
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See how we can help you
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Michael McDermott
Head of Program Management michael@partnerpf.com Ph. 708.487.1458 Schedule a time to chat. |
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Sources:
1,2,3, Kehrer Bielan, The Value of an Investment Client to a Bank or Credit Union, January 2015.
1,2,3, Kehrer Bielan, The Value of an Investment Client to a Bank or Credit Union, January 2015.