Katy McLaughlin
speaker
175 appearances
2 recordings
1 series
first heard Jul 2019
last heard Sep 2019
Katy McLaughlin’s voice in public audio — every appearance, attributed to the second.
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Appearances
WSJ Your Money Briefing · Relationship Pricing: Banks Want to Be Your Everything · 26 Jul 2019
podcast
So they, you know, they really like that and they really want to encourage these relationships.
It's not totally new, but it's more pronounced and more banks care about it more.
Banks really like those jumbo loan customers and they really need to compete in order to manage money.
Don't forget, you can there's lots of robo managers.
There's lots of ways you can self-manage your money now that are really easy.
And there's lots of competition.
So they have to compete.
And that's why they're sweetening the pot on mortgages.
Yeah, these are very complex questions.
And so it was interesting as I talked to lots of different financial advisors, what they thought of it.
I talked to financial advisors who had their customers make deposits.
They had cash that they were holding anyway.
So if they just moved it, like I talked to an advisor who had clients who moved it into Chase accounts and they got this fabulous deal on the mortgage and they had no obligation to keep that money in those accounts.
Once the mortgage closed a couple months later, they were perfectly free to take that money out.
So let's say you're buying an expensive property.
You know you're going to need a lot of money to do renovations on it.
You could really make this work for you.
You could hold your money in an account at a bank that's going to give you a great offer on a mortgage, and then you can just take your money out when you want it.
So that worked beautifully for those clients.
It can be a lot more complicated than that, though.
Showing 121–140 of 175 · page 7 of 9
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