CIBC is pleased to offer a full complement of private banking solutions, with deep expertise in developing sophisticated lending and deposit strategies to meet the needs of affluent clients.
As we develop a holistic wealth plan to complete your financial picture, we will consider a broad range of strategies, including private banking solutions with the following potential benefits:
Marketable Secured Lines of Credit
Establish liquidity lines of credit secured by an investment portfolio to provide flexible, efficient access to capital; typically can be set up with no up-front fee and only carries an interest charge against the drawn amount
BENEFIT:
Provide access to liquidity for either planned purchases or unforeseen, opportunistic events, allowing clients to carry less cash on their personal balance sheets and avoid unplanned liquidations of portions of their investment portfolio.
Tailored Lending
Leverage the expertise of experienced private bankers to secure a range of customized lending solutions, whether borrowing needs are straight-forward or complex
Provides financing for the purchase of an airplane, yacht, art collection, or commercial real estate; leverages illiquid assets such as business interests.
Residential Real Estate
Secure fixed and adjustable rate mortgages, Home Equity Lines of Credit (HELOC) and Home Equity Loans (HELO)
Offers financing of primary residence or vacation properties, access to a floating rate line of credit secured by a home with a Home Equity Line of Credit (HELOC), or the ability to lock in a fixed interest rate and a preset amortization schedule with a Home Equity Loan (HELO).
Deposit Accounts
Manage both your personal and business liquidity needs with consumer checking and savings accounts and certificates of deposit (CDs), as well as business checking accounts and treasury management
Earn an attractive interest rate on cash with convenient and flexible online and mobile banking, including remote deposit capture for checks (via phone). No charge for ATM use and rebates for external ATM fees of up to $50/month available depending on account balances.
The private banking solutions can help serve our clients' financial needs in the following ways:
Head of Private Banking
"What I enjoy most about banking is working with individuals and families every day to provide options that make their lives easier. Whether we’re helping someone secure a mortgage to purchase a new home or establish a line of credit to take advantage of an opportunity in the marketplace, the ability to efficiently deliver creative, high-quality solutions is a critical component of our approach to wealth management. Of course, our focus is not only on delivering these solutions, but also on developing the client relationship—that’s what differentiates us from others in the industry, and what makes our business so rewarding." Contact Dan
Case Study
A “liquidity event” is a common occurrence—but was a very abstract concept for clients until they sold their business for $50 million. That "liquidity" had to go somewhere, while an investment strategy was developed and implemented. Since there was no rush to make decisions, the sale’s proceeds went into a money market account at CIBC until the funds could be invested. "Because of the size of the portfolio, these clients were also able to open a $20 million marketable secured line of credit to use as a bridge for tax payments," says Steve Gilland, managing director and national private banking practice lead. "Other clients have used marketable secured lines to purchase and renovate incomeproducing rental property and to purchase art. A marketable secured line is among the least expensive sources of credit. In addition, drawing on a line of credit can help prevent unfavorable tax consequences from securities liquidation and give our clients flexibility to make a longer-term decision."
Securing a traditional mortgage for a long-time client with an investment portfolio should be relatively easy. But one new client left her former wealth management firm because it would not transition her construction loan, on a rental property being renovated, into a traditional mortgage, despite prior assurances from the firm that it would. She had a complex financial profile—specifically, her debt-to-income ratio—because she was retired. Looking for a long-term relationship that offered investment management and trust services, she said the mortgage was the tipping point that brought her to CIBC. Given the scope of the new relationship and the liquid assets on her balance sheet, CIBC was quickly able to get credit approval on the mortgage. For other clients, HELOCs and HELOs provide liquidity secured by a typically appreciating asset, often to purchase a second home or to finance a major remodel.
CIBC Private Wealth Management is a division of CIBC, a 150-year-old Toronto-based global financial institution. CIBC Bank USA was founded in 1991 as The PrivateBank and joined CIBC in 2017. Together, we are dedicated to delivering exceptional performance and service with an ongoing focus on you and your best interests.
CIBC Bank USA
CIBC, Global Parent Company
Questions About Private Banking
Steve Gilland, National Private Banking Practice Lead for CIBC Bank USA
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Complementing Our Offering
Often, wealth management is about responding to a specific need that can arise unexpectedly.
Read in The Advisor
Private Banking Solutions
Our private banking team has deep expertise in providing sophisticated lending and deposit tools to affluent clients.
Learn more about banking solutions
CIBC placed 8 of 10 banks ranked in Global Finance magazine’s “Safest Banks in North America” list, published September 29, 2016. Banks were selected through an evaluation of long-term foreign currency ratings—from Moody’s, Standard & Poor’s and Fitch—and total assets of the 500 largest banks worldwide.
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