PNC Bank 2002 Annual Report Download - page 17

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15
Navigating the world
of investing in 2002
required patience,
a steady hand, and the
right information —
the hallmarks of PNC
Advisors. Here’s how
clients benefited from
that approach.
The wealth management busi-
ness has changed in fundamental
ways. Lower trading volumes,
smaller client portfolios, and
increased client demands have
caused providers to reassess
their business strategies. PNC
Advisors is no exception. It
continues to reinvent itself to
adapt to this new environment.
Retaining existing clients
by building stronger, more
enduring relationships, along
with reaching out to existing
customers across PNC to meet
their wealth management needs,
represents the core strategy for
growth. Simultaneously, PNC
Advisors plans to reduce its cost
structure to reflect the slower
growth anticipated across the
wealth management industry.
Ultimately, client retention
will be driven by creating a
more distinct client experience
throughout all delivery channels.
PNC Advisors sales and service
teams are working to build
exceptional relationship manage-
ment skills, resulting in more
proactive and interactive dia-
logues with clients. By leverag-
ing PNC Advisors core fiduciary
expertise and armed with a wide
array of proprietary and non-
proprietary products, advisors
can deliver personalized, highly
integrated solutions.
By implementing an
enhanced investment manage-
ment process, PNC Advisors
seeks to provide clients with
more competitive investment
returns, relative to appropriate
benchmarks, during all market
cycles. In addition, the new
equity research leadership team,
put in place in 2002, instituted
an enhanced research approach
designed to deliver stronger
performance with less risk.
PNC BANK PNC ADVISORS
•More than 1,500 women
obtained financial advice at
seminars hosted by PNC
Advisors Women’s Financial
Services Network
•Through its advisory-based
approach, Hilliard Lyons
increased the number of
Advantaged Asset Accounts
by 13.5% over 2001
•Over 1,700 clients implemented
financial plans using PNC
Advisors wealth planning
expertise