What kind of advice, beyond things like loans or checking accounts, can a banker offer?

As an adviser, a banker is a great resource for exploring alternative investment avenues, learning ways to manage cash or talking about retirement plans. Whether it is with FirstMerit or any other bank, your banker should be your confidant. He or she should know more about your business than anyone else in the world except you. Bankers have the experience and the access to measurements that can determine whether your business condition is typical or normal. It’s like going to the doctor when your arm hurts: If you do not know if a sore arm is normal, how are you going to be able to take care of it properly? Financial metrics are similar, so you need expert advice. Finally, bankers often have links to other resources, like the SBA [Small Business Administration] that can provide additional assistance. Banks like ours should be service-driven organizations, so use their resources. RON HONGOSH is Business Banking Division manager and senior vice president at FirstMerit Bank in Cleveland. ...  more