Making a difference for our clients by listening and tailoring recommendations.

Protecting assets for the long-term

A litigation attorney referred a client to a Synovus Financial Advisor to discuss cash management solutions for proceeds from a lawsuit settlement. Because the funds were to be distributed to a minor, the judge required FDIC insurance and the establishment of a protective trust with a corporate trustee. The Synovus Financial Advisor assembled a team of Synovus experts, including a Private Wealth Advisor, a Trust and Estate Manager and a Trust Portfolio Manager, to present the client, the client’s attorneys and the client’s CPA with a comprehensive plan to manage the eight-figure settlement based on the client’s long-term financial objectives.

Helping a large franchise owner with little equity

During a meeting with a large restaurant franchisee, a Synovus Commercial Banker asked his client if he had a buy-sell agreement with his partner and if so, could Synovus review it. Upon review, it was clear the agreement was vague and not adequately funded. When the Commercial Banker brought in a Synovus Private Wealth Advisor and a Synovus Financial Advisor to further review the agreement, the team conducted a full balance sheet review. In doing so, they proposed a new way to restructure and fund the buy-sell agreement and discussed the gaps in the client’s current estate plan, specifically regarding provisions for a special-needs child. The Synovus team helped the client with life insurance solutions, legacy estate planning revisions, and investment management advice for both partners of the multiple million-dollar business. 

Planning and advice to keep the 1,000-acre farm in the family

Long-time Synovus clients, both high income earners, wanted to retire. They thought they were well positioned to retire using their personal assets to maintain their lifestyle and their 1,000-acre horse farm. When their Synovus Financial Advisor and Private Wealth Advisor uncovered their plans to leave the horse farm to their heirs, the team took a financial planning approach and developed a variety of scenarios illustrating various estate taxes and farm maintenance costs following the death of a second spouse. The plan indicated there could be a financial deficit. The team brought in a Synovus insurance professional, who recommended a permanent life insurance solution to help fund the farm expenses after their death, ensuring future generations could enjoy the farm for decades to come. 

Recommending the best solution for the situation

A Synovus Commercial Banker had been working with a prospect to move his business banking relationship to Synovus. During their conversations, the banker learned a different financial institution was not renewing the business owner’s HELOC. The banker asked a Synovus Private Wealth Advisor to evaluate and recommend options for the prospect. The PWA suggested using a $350,000 CD the prospect had to secure a line of credit to pay off the HELOC debt and to free up equity in his home. This turned out to be a better financial solution since the line of credit was for business purposes. The creative recommendation and the team approach convinced the prospect to become a Synovus client.

Wealth planning for whatever life brings

A Private Wealth Advisor offered his sympathies to a Synovus customer who had recently lost her husband in an accident. He realized she needed immediate help with financial decisions like managing the life insurance her late husband had set up. The Private Wealth Advisor brought in a Synovus Financial Advisor, to discuss how her long-term financial plan had changed. When the client received a seven-figure settlement from the accident, the Synovus team collaborated with her estate attorney to design a trust that would protect the needs of the client and her two children.