PNC Bank has 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.
PNC's consumer brokerage business is one of the largest bank broker-dealers in the United States, with 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 advisers and comprehensive digital solutions.
As the business looks to grow, the PNC Wealth Management name is intended to convey:
