Summary
Most private banks in the U.S. require between $250K and $10M+ in assets to qualify. But it’s not just about your balance—it’s about your financial complexity and goals. If you’re in that range,Sam’s Listmay be a better fit for personalized, fiduciary-first advice.
Why Are There Minimums?
Access to these services is resource-intensive. Banks reserve it for clients who bring enough assets, revenue, or strategic value.
You’re not just opening a savings account—you’re getting a team for investments, lending, estate, and tax planning.
Typical Minimums by Institution
| Institution | Entry Threshold |
|---|---|
| Chase Private Client | ~$250K |
| UBS | $1M |
| Citi Private Bank | $10M |
| J.P. Morgan Private Bank | $10M |
Source: Official bank disclosures and public pages (UBS,Citi,JPMorgan)
Other Factors That Matter
Annual incomeor business cash flow
Real estateor concentrated stock positions
Inheritance ortrustmanagementneeds
Entrepreneurial complexity
Some banks may offer "lite" versions of these services at lower thresholds, especially for founders or next-gen wealth.
Is It Worth It?
Pros:
Access to exclusive lending/investments
Family office-style service
One point of contact for all finances
Cons:
High/invisible fees
Potential product conflicts
You may not need the full stack
Sam’s List POV
You don’t need a $10M account minimum to get excellent, personalized financial advice.Sam’s Listfeatures fiduciary wealth advisors who work withHNWandUHNWclients—often with greater flexibility, transparency, and alignment.
Explore wealth advisors by asset level, life stage, and specialty →Sam’s List
FAQ: Private Banking Eligibility
Can you negotiate private bank minimums?
Sometimes, especially if you have future liquidity or strategic value.
What if you’re close but not quite there?
Sam’s List is ideal if you’re building toward that level but want strategic support now.
Do you need to keep all your assets there?
Often yes—but independent advisors give you more flexibility.
What are alternatives if you don’t qualify?
Independent wealth advisors, like those on Sam’s List, can provide many of the same services without high thresholds.
Do these services include estate or tax planning?
Yes, most do—but the quality and depth vary. That’s why finding the right fit matters.
Final Word
If you qualify for these services, you have options—and Sam’s List might be the better one. Compare independent fiduciary advisors who serve the same clients, with more flexibility.
Start here →Discover wealth advisors on Sam’s List
You Might Also Like:
- Private Banking vs. Wealth Management
- What Is Private Banking?
- What Kind of Financial Advisor Is Best for Retirement Planning in Your 50s?
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.
