Private banks are commonly known as financial institutions that offer personalized and exclusive banking services to wealthy clients. However, there are several synonyms for the term "private bank" that describe different types of banking institutions that cater to specific clientele. For instance, a boutique bank offers highly personalized services to high net worth individuals, while a family office caters to the financial needs of ultra-high net worth families. Additionally, a wealth management firm provides investment advice and services to affluent clients, and a trust company specializes in creating and managing trusts for family estates. All these synonyms for a private bank define institutions that offer specialized financial services for affluent individuals and families.