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5 Ways a Local Bank Can Propel Your Professional Services Firm Forward

By John Uremovich, Senior Vice President, Professional Services at Bridgewater Bank

In the fast-paced world of professional services, staying ahead means more than just offering your expertise and services. My 30+ years in the banking industry have consistently shown me that strategic financial management is the cornerstone of success for professional services firms. That's why it's important to have a dedicated banking partner who can help you navigate the complexities of today's market and reach your goals. Here are some ways local banking partnerships can propel professional services firms like yours toward success:

Knowledge of the Local Market

Whether you own and operate a law practice or dentistry office, you deserve not just a bank but a dedicated partner who understands the nuances of your business landscape. Most big, national banks can’t offer the specialized insight and tailored solutions that a local bank with a professional services specialty can.

This is where my expertise, and that of my team members, comes into play. Our experience and knowledge of the local Twin Cities market will maximize the success of any local firm.

Access to Treasury Management Solutions

Operational efficiency is the lifeblood of any professional services firm. It allows you to redirect valuable time and resources back to your clients and your people, where they can make a significant impact.

Having a suite of treasury management solutions at your disposal, designed to streamline your financial processes, bolster security, and provide real-time insights into your firm's financial performance, will save you the headaches and let you focus on what matters most – managing your business.

A Strong Local Network

Beyond the services you provide, the network you cultivate plays a role in your firm's growth and success. Local banks tend to understand the value of these connections, and some provide platforms for you to engage with other industry professionals.

An invitation into a robust network adds consequential value to your banking relationship because it provides you with valuable connections and opportunities that pave new pathways for growth and success.

Dedication to Clients and Community

You need your banking partner to be just as dedicated to you and your business as you are – someone you can depend on. Since the teams at local banks live and work in the communities they serve, their level of dedication to their clients and communities is unmatched.

For example, dedication was more than a pledge during the pandemic; it was a call to action. While many larger banks struggled to meet the needs of small businesses seeking PPP loans, local banks stepped up, creating a process that ensured these businesses received the support they desperately needed to weather the storm.

Responsive Support from Committed Bankers

From critical moments to day-to-day happenings, responsive support can make all the difference in tipping the scales of success. When you need questions answered and problems solved, you don’t have time to deal with long lines and 1-800 numbers. At a local bank, you’ll talk to real people who are committed to finding a solution.

For instance, one Saturday night, I got a call from a client vacationing in Brazil whose credit cards had been stolen while he was hailing a cab. I called my colleague right away, and within five minutes, we had his card shut off. His two other cards were with larger banks, and while I can't speak to how turning those cards off went, I can tell you I was proud of the quick service a local bank like ours was able to provide that night.

I’ve had the privilege of helping countless professional services firms reach their goals and elevate their businesses over the past 30 years, and I can attest to the tangible benefits a local banking partnership can bring. So, if you are looking for a strategic, relationship-focused partnership that goes beyond transactions, our Twin Cities professional services team is ready to discuss how we can help propel your professional services firm forward.