PNC Wealth Management, a unit of PNC Bank, has rolled out a new banking and investment offering that will support mass affluent investors across their growing wealth. 

The bank’s wealth division has launched PNC Premier Client, an initiative across PNC’s branches that aims to combine financial advisors and personal bankers with “emerging and mass affluent” clients. 

PNC Premier Client will provide investment management services and “personalized” financial planning to meet the demands of clients who are experiencing growth in their wealth, the bank said. 

To support the rollout of the offering, PNC plans to hire between 300 and 500 new financial advisors and premier client bankers, a PNC spokesperson said to Connect Money. 

Additionally, PNC plans to improve 200 of its existing branches through 2027, and transform them into “premier branches,” which the bank says will offer clients a “sleek, modern look, high-end client amenities.” 

“As we look across our Retail client base, as well as at the broader demographics of our markets, it’s clear there is demand for a more tailored, high-touch approach to supporting the comprehensive financial needs of the emerging affluent,” Alex Overstrom, head of PNC Retail Banking, said. “Premier Client is our answer to that need, bringing the capabilities and service model traditionally associated with a high-net-worth provider to these clients – delivering a $3 million experience to those with $300,000.” 

PNC’s high-net-worth and ultra-high-net-worth clients will continue to be served by PNC’s private bank division, PNC said. 

In October, PNC Investments rebranded to PNC Wealth Management, following the firm’s decision to expand on its wealth-related capabilities and to provide “holistic” financial solutions 

Prior to the rebrand, PNC’s consumer brokerage business managed more than $92 billion in client assets. The division serves a wide range of clients, ranging from first-time investors to affluent clients, PNC said. 

In August, MSCI, an investment provider, and PNC Bank partnered to equip PNC’s financial advisors with MSCI Wealth Manager, a digital platform that integrates portfolio construction, model management, advanced analytics, and client proposal generation.  

MSCI Wealth Manager enables advisors to assess portfolio risks by identifying asset outliers relative to a client’s stated risk appetite. 

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