PNC Report Highlights Financial Needs and Challenges for Middle-Market Business Owners

## Navigating Complex Financial Landscapes: Insights for Business Owners

PNC Private Bank® releases its inaugural "Business Owner Wealth Insights" report, revealing critical findings about the financial behavior and needs of middle-market business owners. Conducted with Ipsos, the research highlights the intricate interplay between personal wealth and business oversight. An overwhelming 89% of survey respondents express the importance of financial advice that bridges both their business and personal financial realms. Despite this recognition, only 55% currently utilize advisors who address both dimensions, indicating a potential gap in the financial advisory market.

The report further uncovers that while an impressive 98% of business owners undertake regular assessments of their business decisions to align with personal growth aspirations, a considerable 40% do so infrequently. This disconnect could hinder their ability to balance both spheres effectively. Many owners, approximately two-thirds, manage their business and personal finances separately, which poses a considerable challenge, especially when it comes to cash flow management and adapting to technological advancements. As such, both areas require enhanced advisory support to help owners navigate these complexities more smoothly.

Succession planning emerges as a critical theme within the report, particularly for family-owned businesses. A striking 84% of respondents in this category affirm the necessity of having formal succession plans in place to ensure continuity. Yet, around 31% of all business owners do not have such plans, often due to barriers like unclear successor designations or being overly preoccupied with daily operations. Additionally, over 80% of business owners express concern about their philanthropic impact, reinforcing the notion that their legacies extend beyond just financial metrics. Don Heberle, head of PNC Private Bank, underscores the need for tailored financial advice to help owners navigate these challenges, pointing to the complexity of transitioning or exiting a business as one of the most significant decisions for owners.

In conjunction with this report, PNC Financial Services Group also announces the declaration of a quarterly cash dividend of $1.70 per share on its common stock. The dividend is set to be payable on May 5, 2026, demonstrating PNC's commitment to returning value to its shareholders while continuing to address the diverse financial needs of its clientele, including tailored services for business owners.

Moreover, the importance of fostering robust advisory relationships is paramount, as these partnerships can significantly assist business owners in achieving their long-term objectives and contributing positively to their communities through effective financial planning and philanthropy.