CHICAGO, Sept. 8 /PRNewswire/ -- Harris Private Bank today announced the
introduction of Harris enCircle, a service designed to help clients address
the complicated financial and other challenges associated with the growing
life spans of seniors. The service is being offered nationally, with dedicated
enCircle Specialists in Illinois, Washington State, Arizona and Florida.
'As Americans live longer, their needs and challenges are greater, not
only for themselves, but for their adult children and caregivers as well,'
said Terry Jenkins, president of Harris Private Bank. 'We recognize how time
consuming and stressful addressing these needs and challenges can be, and know
there is a clear need for a focused and integrated offering such as enCircle,
because our clients have told us. Harris enCircle provides a breadth of
critical services including personalized bill paying, tax return coordination,
investment management and coordination of health care management services.'
What enCircle Offers
Harris enCircle is a personalized service, provided by dedicated and
trained enCircle specialists, which minimizes the number of points of contact
a client has to navigate to deal with financial and related issues arising
from the aging of the U.S. population.
-- For mature clients, or 'self selectors,' seeking services on his or
her own behalf, Harris enCircle frees clients to focus on living a more active
retirement; alleviates fears associated with missing deadlines and making
other financial errors, and provides the opportunity to outsource the
execution of financial tasks -- thus allowing individuals to focus on
bigger-picture issues.
-- For adult children and caregivers looking after a mature person, and
most likely a parent, Harris enCircle addresses the desire to have
administrative and management responsibilities assumed by a reputable
financial services company, while still maintaining decision-making authority.
Additional benefits include providing peace of mind and freedom to focus
attention on other activities; providing a framework for richer relationships
with loved ones by reducing financial concerns, and bridging the gap that can
exist between mature parents and adult children who don't live in proximity to
one another.
What enCircle Addresses
Mature individuals and caregivers alike are seeking assistance. 'Our
market research -- as well as our earlier successful launch of this service in
Canada -- has surfaced a uniformity of response,' said Deborah Korompilas,
senior vice president and Head of Trust and Estate Services. 'Mature
individuals are saying 'I've earned the right' while adult children are
stating 'I need the help'.'
'Currently, the age group 85 and older is the fastest-growing segment of
the U.S. population, some 12% of the current population is over the age of 65
and, according to the Federal Institute of Medicine, the U.S. geriatric-care
work force is too small and woefully unprepared to meet these population's
needs,' Ms. Korompilas continued. 'The stress that is caused to these
individuals and their families in trying to coordinate financial matters and
health care is overwhelming. We believe Harris enCircle is the right solution
for each of these groups because it is integrated -- and proven -- and
addresses critical 'peace-of-mind' and 'personal freedom' concerns.'
The aging trend of the population is expected to continue to increase in
the near future, Ms. Korompilas noted. According to a report by the National
Institute on Aging (NIA), the U.S. population age 65 and over is expected to
double in size in the next 25 years, reaching almost one in five Americans --
more than 72 million persons - by 2030. And in the near future, the
responsibility of parental care among mature Americans will skyrocket: by
2010, 60% of 'baby boomers' (Americans 50 years or older) will have senior
parents or even grandparents.
An Enduring Brand Promise
Harris enCircle underscores the company's emphasis on being a trusted
advisor and delivering expert guidance to help clients adapt to their changing
lives.
'Harris has served as a trusted advisor for more than 125 years, and the
Private Bank has built on that foundation in our delivery of a full suite of
services including wealth management, financial planning, private banking,
investment management, trust & estate and additional specialized wealth
services,' Mr. Jenkins said. 'Our clients enjoy having a single point of
contact to advise and coordinate the appropriate experts to help them achieve
their financial objectives, such as philanthropy, business succession
planning, risk management and insurance.
'Harris enCircle is a timely response to an urgent and growing market need
and a logical extension of our commitment as a trusted financial advisor.'
About Harris Private Bank
Harris Private Bank offers a comprehensive range of wealth management
strategies and solutions to meet the unique financial needs of our clients.
Our experienced financial professionals help clients realize their financial
and lifestyle goals with solutions that are custom tailored and delivered with
the highest level of personalized service. Harris Private Bank is a member of
the Harris family of wealth management services. For more information, please
visit http://www.theharris.com.
About Harris
Harris is an integrated financial service organization providing more than
1 million personal, business and corporate clients with banking, lending,
investing and wealth management solutions. The organization is a member of the
BMO Financial Group (NYSE, TSX: BMO), which also provides corporate and
investment banking services in the U.S. under the BMO Capital Markets name.
For more information, please visit http://www.bmocm.com or
http://www.harrisbank.com.
Harris(R) and Harris Private Bank are trade names used by various
financial service subsidiaries of Harris Financial Corp. Banking products and
services are provided by Harris N.A., The Harris Bank N.A. and their bank
affiliates. Members FDIC. Brokerage products are offered through Harris
Investor Services, Inc. (HIS), a registered broker/dealer, member FINRA/SIPC,
and an SEC registered investment adviser. Insurance and annuities are offered
through Harris Bancorp Insurance Services, Inc. (HBIS). Securities are
provided by BMO Capital Markets Corp. (BMOCM), a registered broker dealer and
member NYSE, FINRA and SIPC. HIS, HBIS and BMOCM are affiliated companies and
are wholly owned subsidiaries of Harris Financial Corp. Products offered by
HIS, HBIS and BMOCM are Not Insured by the FDIC or any Federal Government
Agency, Not a Deposit of or Guaranteed by Any Bank or Bank Affiliate, May Lose
Value. The purchase of insurance or an annuity is not a condition to any bank
loan or service. Financial planning and investment advisory services are
provided by Sullivan, Bruyette, Speros & Blayney, Inc., an SEC registered
investment adviser. Harris myCFO(TM) is the brand used by Harris myCFO, Inc.
providing Family Office Services, Harris myCFO Investment Advisory Services
LLC, an SEC-registered investment adviser and certain divisions of Harris N.A.
and its affiliates that are national banks with trust powers. Not all products
and services are offered in every state and/or location.
SOURCE Harris Private Bank
