This guide will take your cover letter from generic template to interview magnet. We’ll reveal exactly how to start with maximum impact, prove your worth through quantified client outcomes, and finish with confidence. Plus, you’ll discover insider tips on what Australian private banks are really looking for, complete with real examples that actually work. Whether you’re transitioning from retail banking to private wealth or bringing your relationship management expertise to a larger institution, we’ve got you covered.
Private Banker Cover Letter Example (Text Version)
Victoria Thompson
[email protected]
0421 678 901
linkedin.com/in/victoriathompson-privatebanking
Sydney, NSW
22 March 2025
Mr David Foster
Head of Private Banking
Commonwealth Private Bank
Level 18, 201 Sussex Street
Sydney, NSW 2000
Dear Mr Foster,
When I discovered that Commonwealth Private Bank is expanding your Sydney private banking team to serve high-net-worth clients with sophisticated wealth needs, I recognized this was precisely the opportunity I’ve been working toward. As someone who managed a $180M client portfolio at Macquarie Private Wealth—growing assets under management by 42% over three years while achieving 96% client retention and generating $2.8M in annual revenue through holistic wealth solutions—I’m thrilled at the prospect of combining relationship excellence and financial expertise for your discerning clientele.
Over the past seven years as a Private Banker working throughout Sydney’s wealth management sector, I’ve repeatedly delivered results that match perfectly with your needs. I’ve developed and maintained trusted advisor relationships with 35+ high-net-worth individuals and families, provided comprehensive wealth advice spanning banking, lending, investments, and estate planning, coordinated sophisticated lending solutions including property finance and margin lending facilities, collaborated with investment specialists, accountants, and legal advisors delivering integrated wealth strategies, and consistently exceeded revenue targets by an average of 125% annually. My background spanning business owners, medical professionals, and multi-generational families has shown me that exceptional private banking merges financial acumen with genuine understanding of client aspirations—precisely what you require for premium client service.
What really attracts me to Commonwealth Private Bank is your reputation for client-centric advice and comprehensive wealth solutions supported by institutional strength. I hold a Diploma of Financial Planning, Tier 1 accreditation with FASEA, and I’m currently completing my CFP certification through Financial Planning Association. I maintain current ASIC registration and hold a Bachelor of Commerce (Finance) from University of Sydney. I’m convinced that private bankers aren’t merely product sellers—we’re trusted advisors who protect and grow generational wealth, navigate complex financial decisions, and build enduring relationships based on integrity and expertise.
I’d welcome the chance to discuss how my proven ability to acquire and grow high-net-worth relationships while delivering comprehensive wealth solutions can enhance Commonwealth Private Bank’s client portfolio. I’m available for a confidential discussion and can provide references from clients and colleagues. Thank you for reviewing my application, and I look forward to connecting with you soon.
Kind regards,
Victoria Thompson
How to Format a Private Banker Cover Letter
- Length: Max 1 page (3–5 paragraphs)
- Font: Times New Roman, Garamond or Arial (11–12pt)
- Spacing: Single or 1.15 line spacing
- Margins: 1 inch on all sides
- File format: PDF
What to Include in a Private Banker Cover Letter (Australia)
Your Private Banker cover letter needs to follow a relationship-focused structure that showcases both financial expertise and client management excellence:
- Contact Details
- Salutation (Dear Hiring Manager or name)
- Opening paragraph – your hook and intent
- Middle – why you’re the best fit (skills + experience)
- Closing – call to action + sign off
Right vs Wrong Example
Right Opening: “When ANZ Private announced its Melbourne private banking expansion targeting successful entrepreneurs and professional families, I instantly recognized where my background building a $220M portfolio from ground zero—acquiring 40 high-net-worth clients through strategic referral networks, delivering holistic wealth advice that increased wallet share by 67%, and achieving 98% client satisfaction scores over five years—could advance your growth ambitions in this competitive market segment.”
Wrong Opening: “I am writing to apply for the Private Banker position that was advertised on Seek. I have experience in banking and working with clients. I believe I would be a good fit for this role at your bank.”
Entry-Level Private Banker Cover Letter Tips
- Emphasize progression from retail banking, financial planning, or wealth advisory roles
- Showcase successful client acquisition, relationship deepening, or revenue growth
- Demonstrate understanding of HNW client needs, wealth structuring, and holistic advice
Entry-Level Cover Letter Sample for Private Banker
Right Entry-Level Approach: “While serving as Senior Relationship Manager at Westpac Premier Banking for the past four years, I’ve progressively worked with increasingly affluent clients including managing a $45M portfolio of 60 high-income professionals, successfully transitioning 12 clients from standard banking to wealth advisory relationships, achieving 156% of lending targets through structured property and investment finance solutions, and collaborating with financial planners on superannuation and investment strategies. I recently completed my Diploma of Financial Planning and hold Tier 1 accreditation. This blend of retail banking foundation and emerging wealth expertise demonstrated that private banking success harmonizes financial sophistication with trust-based relationships—capabilities I’m excited to contribute in a dedicated private banker capacity.”
Wrong Entry-Level Approach: “I’ve been working in retail banking for several years and I want to move into private banking. I’m good with people and interested in working with wealthy clients. I think I’m ready for this opportunity. Please consider me for this position.”
Top Mistakes to Avoid in a Private Banker Cover Letter
- Being vague about client portfolio size, revenue generation, or acquisition success
- Focusing solely on product sales without demonstrating holistic advisory capability
- Neglecting to mention relevant qualifications, licensing, or industry credentials
How to Tailor Your Cover Letter to a Job Ad
- Align with their target client segment (entrepreneurs, professionals, family wealth, ultra-HNW)
- Address specific services or specializations they emphasize (lending, investment, succession)
- Reflect their institutional positioning (boutique, major bank, international wealth manager)
How to Sign Off Your Private Banker Cover Letter
- Use “Kind regards” or “Sincerely”
- Include full name, phone number, email, and LinkedIn profile
Cover Letter Signature Example
Kind regards,
James Chen
[email protected]
0428 567 234
linkedin.com/in/jameschen-privatebanker
How to Submit a Cover Letter in Australia
- Always attach as a PDF (unless instructed otherwise)
- Label file professionally (e.g. VictoriaThompson_CoverLetter.pdf)
- Many roles filled through executive search or internal referrals—network actively
Final Tips for Writing a Great Private Banker Cover Letter
- Lead with quantified relationship outcomes—AUM growth, revenue, retention, acquisition
- Balance financial expertise with relationship management and client service excellence
- Show understanding of HNW client psychology, wealth structuring, and family dynamics
- Emphasize integrity, discretion, and long-term relationship orientation
More Resources for Job Seekers
Ready to nail your entire application? Check out our Private Banker Resume Examples for the perfect complement to your cover letter. Prepare for success with our Common Interview Questions for private banking and wealth management roles, and explore our Selection Criteria Templates for financial services positions.
Remember, your cover letter should work alongside your resume to tell a compelling story about why you’re the private banker they need. Concentrate on specific client relationships that demonstrate both financial expertise and advisory excellence, express genuine interest in their institutional culture and target clientele, and always emphasize how you’ll build trusted advisor relationships from day one. With Australia’s private banking sector continuing to evolve through intergenerational wealth transfer, regulatory complexity, and competitive intensity, institutions are seeking private bankers who can balance product knowledge with holistic advisory capability and business development with client-centric service. Develop your professional credentials through organizations like the Financial Planning Association and maintain current licensing through ASIC to ensure your application demonstrates current industry standards and professional compliance requirements.
