PERSONAL » Private Banking
Streamline all of your banking and investment needs. With Northeast's Private Banking and Trust Services, our Professional Staff and Relationship Managers are committed to serving you with objective financial advice while providing access to virtually every financial product or service available today!
Private Banking Services
Northeast’s Private Banking Services provide high net worth individuals and their families with the level of personal service that they expect. Together, we will start by learning what success means to you. We will then build a foundation based on a trusted relationship, using strategies and solutions that are tailored to meet your specific financial and personal objectives. Once this foundation is built, Northeast will provide direction and advice with an emphasis on “needs based” products and services to accomplish a successful financial plan. These include everything from checking and savings accounts, to Trusts and estate planning.
Our Philosophy
ACCESS, NEEDS, &VALUE
Through strategic partnerships, industry professionals and a wide variety of sales channels, you'll find that you have access to virtually every financial product or service available today—including those of our competitors. Your financial future should not be limited to a few proprietary products and services, but should be open to the best products that meet your needs and risk tolerance. Whatever your needs, our team collectively has the knowledge and training to guide you in tax and retirement planning, trusts and wealth transfer, credit solutions, investment management and even everyday banking.
Your goals are our goals—your success and peace of mind is our priority. With one company, Northeast, you can pursue your goals, consult with experts, complete your financial plan and rest assured that all your needs are in mind and your risk managed. The value in Northeast Bank comes from our ability to provide you access to products, experience and a deep-rooted belief that we provide advice as though “we were in your shoes.
EXPERIENCE
Since 1872, Northeast Bank has been serving the needs of its customers with a focus on objective and prudent advice. As the first community bank in Maine to be awarded Trust Powers and to pursue other financial services, you'll find a commitment to innovation, forward-thinking and stability. Our team of Private Bankers and Planning Professionals offer objective and proven expertise across a wide range of wealth management disciplines. For these reasons we have emerged as the private banker and trust managers of choice for generations of families and private organizations.
Wealth Management & Trust Services
At Northeast, we realize you’ve worked hard to fulfill your dreams and build a secure financial foundation. Together, we can design a plan using strategies and solutions that will build, manage and assist you in preserving your wealth.
- Private Banking & Wealth Solutions
- Personal Financial Planning
- Investment Management Services
- Estate Planning
- Trust Services
- Business Trust Services
It should be your plan. Our experienced financial advisors will help you design and maintain a comprehensive financial plan to meet your goals and objectives. Together we will accomplish
- Sophisticated financial solutions
- Dedication to personal and discreet service
- A focus on the future to provide for today and preserve for tomorrow
- A lifetime of financial commitment.
Investment Management Services
Grow, enjoy and conserve your estate with the proper planning and expert advice from our Trust Department. With your goals and objectives in mind, we will develop a comprehensive and personalized plan to help you realize your financial goals.
Depending on your goals, time horizons and comfort level of risk, your plan may include dividing your funds among different investments for increasing liquidity, income and growth. Diversifying your money in a variety of investments will help spread the risk.
Careful income tax planning can help identify different assets to reposition so that you can defer or reduce your annual taxes.
Estate Planning
For many people, estate taxes may be the largest single tax they ever face. Because of this it is critical that one utilize good estate planning to preserve assets, transfer wealth, and minimize income and estate taxes. Northeast Bank Wealth Management and Trust Services will work with your other professional advisors to implement the right estate planning strategies for you. For more information regarding Tax Related Investments and Tax Advisory Services, click here.
PERSONAL TRUST SERVICES
The pathway to a secure financial future for you and, your family.
Trustee Services
Northeast Bank Wealth Management and Trust Services will ensure that your financial wealth is managed professionally from one generation to the next. Our Trust Officers provide confidential, personalized services to assist you in developing strategies to manage your financial affairs. We make a life-long commitment to meeting your financial goals and objectives with a focus on the future, providing for today and preserving for tomorrow.
Living Trusts
A Living Trust is established to start working during your lifetime and offer flexible solutions. It can provide uninterrupted management of your assets if you become ill, incapacitated, or die. A living trust, unlike a will, is not subject to the expense or time delays of Probate if all of your assets are held in the trust. The trust is also confidential; protecting your financial privacy, for it is not a matter of public record.
Trusts under Will
By providing a trust for your beneficiaries in your will, you can provide financial supervision for minors, asset management and save on estate taxes.
Irrevocable Life Insurance Trusts
A trust vehicle that allows you to create non-taxable liquidity to meet estate needs. By taking advantage of the annual gift tax exclusion amount, you may gift assets to the trust which are used to purchase insurance on your life. Upon your death, the policy proceeds are paid to the trust and are not subject to estate taxes.
Charitable Trusts
Charitable Remainder Trusts offer a vehicle that provides effective, tax advantaged means of helping your favorite charity. This is accomplished by making a gift to the trust claiming a charitable deduction for income tax purposes, and you receive income payments for a term of years for you or another person you name, based on the value of the trust assets. When the obligations to the income beneficiaries have been fulfilled, the remaining balance of the trust assets pass to the charities you designate.
Custodial Services
If you would like to retain control of your investment portfolio, but would like more time from the administrative duties of retaining records, we can provide the solution with our custodial services.
BUSINESS TRUST & ADVISORY SERVICES
Reward your employees for taking the journey with you.
Northeast Bank Wealth Management and Trust Services can help you keep the best and the brightest on your team, with a benefit package that shows your employees how much they are appreciated. We offer a full spectrum of retirement fund options and, together, we can design an employee and executive benefit program that fits your needs.
We will invest sufficient time getting to know each of your employees and identifying their goals and objectives, time horizons, and tolerance for investment risk. Their personally-tailored plan will include a recommended asset allocation strategy among several funds to help them achieve their retirement financial goals. Quarterly reports will detail the performance of each fund portfolio.
Our trust department can design, install and administer employee benefit packages with any of the following components.
- 401(k) Plans
- Profit Sharing Plans
- Money Purchase Pension Plan
- 403(b) Plans
- SIMPLE IRA Plans
Professional Staff
Our staff has over 100 years of combined experience, and offers the same level of professionalism and expertise found at the largest institutions, but with a customer-friendly, needs-based, flexible approach unique to Northeast bank.