Key Takeaways
In today’s economy marked by rapid technological advances and a wide array of investment management solutions, high-net-worth individuals and families are increasingly looking for an integrated approach to managing their assets and banking. Clients often prefer a one-stop-shop, pairing their wealth management and private banking teams for advice on holistic planning strategies and proactive services in support of their financial needs and goals. Trusted financial advice has never been more important than it is today.
For over 125 years, Cambridge Trust has seamlessly integrated services under our unique structure, offering full-service capabilities to help clients grow and safeguard their wealth. This partnership delivers exceptional personal attention and a comprehensive suite of services—from legacy and estate planning to next-generation engagement, business financing, and advisory—built on a strong platform.
An emerging trend is apparent: nearly 50% of wealth clients favor combined services, as highlighted by a recent McKinsey & Company report indicating that high-net-worth individuals increasingly desire a seamless approach. As the complexity and longevity of personal and professional financing increase, a collaborative approach to banking and wealth management is not just beneficial, but essential to financial wellness1.
The Integrated Advantage
The shift toward a unified model comes as more individuals seek to layer a wide array of strategic advantages in their portfolios by engaging with specialized providers in the space, according to a 2023 report by Cerulli Associates. The report shows high-net-worth markets consist of nearly 2 million households in the United States, which hold $15 trillion in financial assets, representing $8.75 million in investable wealth on average per household.
With wealth generated from various sources, such as entrepreneurship, business leadership, or intergenerational transfer, the needs of these clients tend to be unique from typical savers and retirees due to the complexity, concentration, and illiquidity of assets. As a result, there is opportunity to leverage holistic services that address not only investment engagement, but also tax planning, customized banking, succession strategies, risk mitigation, and legacy considerations to help preserve and optimize wealth.
Benefits of an Integrated Private Banking and Wealth Approach
A combined service approach provides individualized service for clients, supporting their banking, lending, wealth, and business needs, including treasury management, commercial lending, and payment solutions.
At the core of Cambridge Trust’s integrated model is a relationship manager who functions as a single, reliable point of contact, charged with coordinating all private banking and wealth needs. Individuals receive skilled service from seasoned finance professionals with experience in handling a wide variety of banking and investment operations.
Your Cambridge Trust team of advisors may include private bankers, portfolio managers, trust fiduciary advisors, risk managers, lenders, commercial bankers, along with tax and financial planners. This team of advisors regularly engage in deep research, deftly guiding clients using sophisticated solutions through changing economic times. This consistency is what builds lasting relationships through trust and skilled, tailored advice. Clients benefit from unified solutions to financial management, in which all pieces of their plan work seamlessly together.
Private Banking is a client-focused service offering personalized investment management, wealth planning, tailored lending solutions, and trust and estate guidance. Benefits of tying private banking to wealth management include dedicated resources for onboarding, servicing, enhanced pricing options, higher limits for mobile deposit and bill payments, as well as convenient options for loan closing and money movement.
Customized solutions include helping you borrow against your investment portfolio at competitive rates, finding flexible terms on a jumbo mortgage, or opening a high-yield deposit account to help meet cash management and liquidity needs.
Another key benefit we see clients enjoy is having a single point of contact when it matters most. Your advisors frequently counsel you on personal and business lending solutions tailored just to you, based on your goals. This is helpful when economic fluctuations arise amid the accelerating pace of new technologies, including artificial intelligence, generative AI, and advanced data analytics.
The close relationships that come with a holistic banking and wealth model can help identify and prevent fraud. A unified team provides stronger safeguards, from verification methods to personal oversight of large transactions.
Building Trusted Relationships
The importance of building a relationship with a private banker and wealth manager who knows what is important in their clients’ lives makes all the difference. From college tuition to weddings, home purchases, business transitions, vacation homes, and other milestones, we have seen how clients benefit from a relationship manager they can rely on and trust with their precious assets including family, livelihood, and business.
A cohesive team can proactively help families preserve and build wealth and legacy across generations, including through family trusts. Advisors operate with a deep understanding of family dynamics and can educate the next generation on wealth building based on their specific needs.
During regular strategic and tactical client meetings throughout the year, your team reviews your personal and professional goals and aspirations while performing a comprehensive assessment of needs and risk tolerance levels. Working in tandem with wealth management to review their investment strategies, the emphasis is on capital preservation and long-term, risk-adjusted returns, accomplished through asset allocation optimization for steady, patient progress toward long-term goals. Together, the team and client collaborate to create a tailored plan.
Peace of Mind at Every Stage of Your Financial Journey
For high-net-worth individuals, having an integrated approach provides close access to a trusted, personal relationship for real-time responses to needs.
Over time, this cohesive, holistic team model will evolve further, becoming a core support system. Cambridge Trust Private Banking and Wealth Management brings together comprehensive solutions for client needs, all under the Eastern Bank platform, aimed at working with clients to help fulfill their financial goals.
Cambridge Trust Wealth Management is a division of Eastern Bank. Views are as of October 2025 and are subject to change based on market conditions and other factors. The opinions expressed herein are those of the author(s), and do not necessarily reflect those of Eastern Bankshares, Inc., Eastern Bank or any affiliated entities. Views and opinions expressed are current as of the date appearing on this material; all views and opinions herein are subject to change without notice based on market conditions and other factors. These views and opinions should not be construed as a recommendation for any specific security or sector. This material is for your private information, and we are not soliciting any action based on it. The information in this report has been obtained from sources believed to be reliable but its accuracy is not guaranteed. There is neither representation nor warranty as to the accuracy of, nor liability for any decisions made based on such information. Past performance does not guarantee future performance. Eastern Bank does not provide legal, tax or accounting advice. You should consult your legal and/or tax advisors before making any financial decisions