Should I Invest with My Bank or Work with an Independent Advisor?
Dear Cheryl&Mack,
I’m 32, married, and just starting to build some savings.
We have about $25,000 sitting in our bank account, and someone at the branch offered to help us “start investing.”
I’m tempted to say yes - it’s easy and they already have our info. But my coworker said I should look for an independent advisor instead.
I’m not sure what the difference is… or if it even matters.
Can you help?
—to bank or to not
Dear ‘to bank or to not',
Think of it like this:
When you work with a bank advisor, you’re meeting with someone who works for the bank. That means they often recommend the bank’s investment products, because that’s what they’re licensed and trained to offer.
At CC&Associates, we’re independent. We don’t work for a bank - we work for you. We have access to a broader range of investment and insurance options from different companies, so we can help you build a plan that’s based on what fits your goals, not just what’s on the bank’s shelf.
Here are some answers to the most commonly asked questions comparing Banks to Independent Advisors:
Will an independent advisor still be as safe or trustworthy?
Great question—and yes. Independent advisors are held to the same industry standards when it comes to licensing, compliance, and professionalism. Many of us (ourselves included) choose to act in a fiduciary capacity, which means we’re committed to putting your interests first.
That’s not a guarantee at all, banks - and it’s an important question to ask.
What about the investments themselves?
At the bank, you’ll usually be offered mutual funds that are built and managed by the bank. These can work for some people, but they often come with built-in fees and fewer customization options.
At CC&Associates, we’re not tied to one company. That means we can help you choose from different investment types—including ETFs, managed portfolios, and insurance-based options - so your plan fits your lifestyle, comfort level, and timeline.
How do you get paid? I don’t want hidden fees.
We get that—transparency matters. At CC&Associates, we walk every client through how we’re compensated. That could include a flat fee, a percentage of assets, or a commission depending on what services we’re providing.
There are no surprise charges and no “small print” moments. If you’re not sure what you’re paying your current advisor, that’s already a reason to have a second conversation.
If you’re looking for a simple place to park your savings and want a basic mutual fund to get started, the bank may be just fine.
But if you’re ready for a more personal relationship - someone who checks in, helps you grow your wealth, plans for the future, and answers your questions in plain language - then an independent advisor is worth exploring.
At CC&Associates, we believe you deserve advice that’s personal, honest, and built around real life - not just bank hours.
So yes - it’s worth a conversation. We’d be happy to have one, no pressure attached.
Thanks for reading!
- Cheryl and Mackenzie