Business Bank of Nevada Alliance with American Express Offers Clients Comprehensive Investment Products and Financial Planning Services.Business Editors NOTE TO MEDIA: Photo is on Business Wire's Web site at www.businesswire.com and on AP Photo Archive's TOPIC GALLERY at archivepix.ap.org. LAS VEGAS--(BUSINESS WIRE)--Jan. 23, 2001 When it comes to investments and financial planning Financial planning Evaluating the investing and financing options available to a firm. Planning includes attempting to make optimal decisions, projecting the consequences of these decisions for the firm in the form of a financial plan, and then comparing future performance against , people generally don't think of a bank making these kinds of products and services available. Business Bank of Nevada is the only bank in Nevada that has an alliance with American Express American Express (NYSE: AXP), sometimes known as "AmEx" or "Amex", is a diversified global financial services company, headquartered in New York City. The company is best known for its credit card, charge card and traveler's cheque businesses. Financial Advisors Inc. Through this alliance, Business Bank customers are offered business and personal financial planning, as well as trust services and a full range of securities and insurance products from American Express Financial Advisors. As part of its alliance with Business Bank, American Express Financial Advisors has fully licensed representatives working out of each of the bank's four branch offices located in the Las Vegas and Carson City areas. American Express representatives work very closely with bank staff in assisting them with their clients' overall financial and investment needs. "People today have become more investment savvy and want higher returns on their investments," said Business Bank President and Chief Executive Officer John Guedry. "This alliance with American Express can help our clients achieve their financial goals, while at the same time providing Business Bank with a competitive advantage over the bigger banks and brokerage firms when competing for a person's investment and insurance business." Guedry added that recent studies indicate that securing the investment relationship with a customer typically equates to obtaining the overall banking relationship. This research also indicates that the banking industry is no longer handling the lion's share of the consumer wallet. Brokerage firms and insurance companies have whittled away at what banks once dominated, which means the three industries are now competing for the same customer. As a result of this new competition, and in an effort to attract and retain customers, larger banks entered into the investment services business several years ago. Smaller banks also recognized the need to offer these services, but could not justify the cost of providing them in-house. Therefore, Business Bank forged an alliance with American Express Financial Advisors to make available retirement accounts, group and business insurance, stocks, bonds and mutual funds, as well as auto, homeowners, life and health insurance products. "Today's larger financial institutions are truly at a disadvantage when it comes to providing their clients with banking products and services, as well as a complete package of investment and financial planning services," said John Dube, CFP 1. CFP - Constraint Functional Programming. 2. CFP - Communicating Functional Processes. 3. CFP - Call For Papers (for a conference). , MBA MBA abbr. Master of Business Administration Noun 1. MBA - a master's degree in business Master in Business, Master in Business Administration , senior financial advisor and principal. "Most banks focus primarily on mutual funds and annuity accounts rather than comprehensive financial planning and the much broader range of products necessary to meet the business, tax and estate planning Estate Planning The overall planning of a person's wealth, including the preparation of a will and the planning of taxes after the individual's death. Notes: Contrary to popular belief, estate planning involves much more than preparing a will, and it is not only for the needs of a sophisticated client. Our alliance with Business Bank provides both our clients with a more complete package of financial products and services that can help them more readily attain financial success and security." Dube added that American Express is one of the oldest and most respected investment and financial planning companies in the United States. American Express has headquarters in Minneapolis, and has more than 12,000 financial advisors. Started in 1894, American Express has more than two million clients that have entrusted them with more than $293 billion in assets nationwide. Business Bank of Nevada, with more than $175 million in total assets, is in its sixth year of operations and is one of the fastest-growing independent banks in the state. The bank has four branch offices in Nevada, with three in the Las Vegas area and one in Carson City. The bank has plans to open additional offices statewide in the near future. Business Bank is FDIC FDIC See: Federal Deposit Insurance Corporation FDIC See Federal Deposit Insurance Corporation (FDIC). Insured and is a member of the Federal Reserve Bank of San Francisco The Federal Reserve Bank of San Francisco is the federal bank for the twelfth district in the United States. The twelfth district is made up of nine western states—Alaska, Arizona, California, Hawaii, Idaho, Nevada, Oregon, Utah, and Washington—plus American Samoa, , and is listed over the counter (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). ) at ticker symbol Ticker Symbol An arrangement of characters (usually letters) representing a particular security listed on an exchange or otherwise traded publicly. When a company issues securities to the public marketplace, it selects an available ticker symbol for its securities which investors BBNV BBNV Business Bank of Nevada . Note: A Photo is available at URL URL in full Uniform Resource Locator Address of a resource on the Internet. The resource can be any type of file stored on a server, such as a Web page, a text file, a graphics file, or an application program. : http://www.businesswire.com/cgi-bin/photo.cgi?pw.012301/bw3 |
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