Summary
You don’t always need $10M to access private banking. Some banks start at $250K—but service levels and flexibility vary. If you're looking for planning-first support without a product pitch,Sam’s Listfeatures fiduciary advisors with lower entry points.
What Are Private Banker Minimums?
Banks set asset minimums to manage access to their most personalized services. These thresholds ensure the relationship is profitable—and help banks allocate internal teams efficiently.
Minimums can depend on:
Combined household or business accounts
Potential future liquidity
Relationship value (e.g., existing mortgage, credit card)
2025 Minimums by Institution (U.S.)
| Bank | Private Banking Minimum | Notes |
|---|---|---|
| Chase Private Client | $250,000 | Entry-tier, more automation |
| Wells Fargo Private Bank | $1M | Full-service team for HNW |
| Citi Private Bank | $10M | Ultra-high-net-worth only |
| J.P. Morgan Private Bank | $10M | Discretionary wealth team |
| Merrill Private Wealth | $1M–$2M | Flexible for relationship value |
| UBS Private Wealth | $2M+ | High-level product access |
Sources: Official bank disclosures, client experiences,Investopedia
Why Minimums Vary So Much
It’s not just about the dollar amount—it’s about the bank’s target client. Some serve rising professionals; others wantfamily office-level complexity.
The higher the minimum, the more likely you’ll get:
A discretionary investment team
Customized lending or estate strategies
Invitations to exclusive products/events
Do You Even Need a Private Banker?
If you’re close to qualifying—or just want strategic guidance—you might get:
Better alignment with a fiduciary advisor
More transparent pricing
Broader platform flexibility
Sam’s Listfeatures planners who start at $500K—or even lower—and aren’t tied to one firm’s product shelf.
FAQ
Can I negotiate private banking minimums?
Sometimes—especially if you bring future liquidity or key relationships. For example, if you're in the middle of a business sale or have a large rollover on the horizon, banks may waive strict thresholds to secure the relationship early.
What if I don’t meet the minimum?
Start with a fiduciary advisor. Sam’s List is designed for HNW individuals who want personalized support before crossing that threshold. You’ll still get expert guidance, financial planning, and access to professionals who understand your growth path.
Are there private banking alternatives?
Yes—independent advisors often offer more planning depth, with fewer product incentives.
How do I know if I’m a fit for Sam’s List?
If you have $250K+ and want personalized, conflict-free advice—we’re for you.
You Might Also Like:
- Financial Advisor for High‑Net‑Worth Individuals
- Financial Advisor for Small Businesses
- Questions to Ask a Financial Advisor
Final Word
Private banking isn’t one-size-fits-all—and neither are the minimums. If you're not quite there (or want something different), a fiduciary advisor could be the smarter place to start.
Explore vetted fiduciary advisors now →Sam’s List
Author: Kimi, Co‑founder of Sam’s List
Kimi writes about what she’s learning while building Sam’s List and shares honest takeaways from her conversations with accountants and financial advisors across the country. None of this is financial advice—just the stuff most people wish someone told them sooner.
