Taking deposits and providing loans are one of the primary roles of banks.

But that’s not their only purpose.

Aside from depositing money in your bank account and withdrawing it from the ATM, banks play a significant role in helping their customers get smart with their money by offering expert advice, a range of essential services, and solutions tailored to their needs as they navigate the investment journey.

Whether you’re just beginning or seeking to expand your investments, banks have various departments that can help you make informed decisions and achieve your financial goals.

Banks allow you to access a relationship manager. A relationship manager is a client-facing professional who provides advice to the bank’s clients about their investments and the financial services they can receive.

A banking relationship manager has several duties, such as conducting regular meetings and calls with clients to review their financial performance, needs, and expectations, identifying new business opportunities, and cross-selling products and services.

As a bank customer, you can also get access to financial advisors who provide personalised investment advice tailored to your financial objectives, risk tolerance, and investment timeline.

Financial advisors offer insights into various investment options, helping you build a diversified portfolio that aligns with your goals.

Further, banks offer access to a wide array of investment products, including stocks, bonds, mutual funds, exchange-traded funds (ETFs), and more.

Through brokerage services and investment accounts, you can explore different investment opportunities and tailor your portfolio to suit your preferences.

Banks also offer loan facilities that can be utilised for investment purposes.

As an investor, it is crucial to stay current with your investments’ performance. Online banking portals and mobile apps allow you to monitor your portfolio, execute trades, and access account information anytime, anywhere.

Additionally, banks prioritise security measures to safeguard your investments and personal information.

When investing, you always need to be up to date with the latest market trends and insights. Banks offer research and market insights to help you stay informed about current market trends and investment opportunities through reports, analysis, and expert commentaries.

This can help you make well-informed decisions depending on the market conditions.

As an investor, information is key. Banks offer educational resources and materials to grow your financial literacy and investment knowledge. Through seminars, workshops, articles, and online resources, you can deepen your understanding of key financial terms.

Also, if owning a home is one of your goals in your investment journey, banks also offer mortgages with competitive rates.  A mortgage is a type of loan used to purchase or refinance real estate, such as land or a house.

Taking a mortgage divides property ownership into two parts: equity (what you own) and debt (what the bank owns). With each mortgage repayment, you increase your equity, aiming to own the property by the end of the repayment period.

The icing on the cake is retirement products. Banks can assist you in planning for retirement by offering retirement accounts such as Individual Retirement Plans. They can also provide guidance on retirement savings goals, investment options, and strategies to maximise your retirement income.

In conclusion, banks can play a key role in your investment journey, offering advice, access to investment products, convenience, security, research, retirement planning, risk management, education, and loan facilities.

So, don’t just own a bank account. Strive to also use the investment solutions that banks offer.