07.05.23

U.S. Bank Aims for 1 Million Wealth Management Clients

by: John Manganaro

Scott Ford, the U.S. Bank's recently appointed president of wealth management, has ambitious goals for himself and the lender “Getting to 1 million wealth management clients is our goal, and we are aiming to do that over the next three to five years,” Ford said in an interview. “Today we serve 13 million core households across the organization, and we want to serve the needs of many more of these households with our growing wealth management capabilities.” Ford added, “It’s an exciting time to be taking on leadership of this great organization. Frankly, we have more clients that need our help and advice than we have people to provide that advice. It’s a good problem to have, but we are pushing hard to get the staff in place and to embrace the right tech.” Before becoming president, Ford led U.S. Bank’s affluent wealth management business, guiding a team of more than 1,400 bankers, associates and U.S. Bancorp financial advisors. His role has now expanded to oversee a team of 3,200 across all of U.S. Bank’s wealth businesses. “I can tell you from this and prior experience that talent acquisition is a challenge for this entire industry,” Ford said. “I actually serve on the board of the Bank Insurance and Securities Association, and we are talking about this all the time.”

Read the full article on Think Advisor