Pittsburgh-based PNC Bank, one of the largest diversified financial services institutions in the United States, plans to rename and rebrand PNC Investments, its consumer brokerage business, as PNC Wealth Management.
“This is more than a name change — it’s a signal of our future,” Alex Overstrom, PNC head of retail banking, said. “PNC Wealth Management represents the focus and investment we are making in the platform to serve the holistic financial needs of our clients, providing them with the advice and solutions they need to achieve their long-term financial goals.”
The new name will be fully implemented over the next several weeks. It is intended to convey a broader scope of services, a focus on growth and future, and client-centric positioning. The business offers services beyond investments such as financial planning and insurance. It also offers banking and lending services through PNC Bank. PNC plans to grow strategically beyond investment solutions to provide comprehensive financial strategies. Clients expect seamless, comprehensive solutions without multiple touchpoints.
PNC’s consumer brokerage business has more than $92 billion in client assets. It uses an “advice and planning” model delivered through approximately 800 financial advisors and comprehensive digital solutions. The business is one of the largest bank broker-dealers in the United States.