First Citizens Asset Management, Inc
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Overview
First Citizens Asset Management, Inc operates as a financial advisory company based in Raleigh, North Carolina. It manages $273.7 million in assets under management throughout 1,273 client accounts, placing it in the mid-tier of investment advisory firms in the nation by assets under management (AUM). It has an average-sized group, including 31 financial advisors. First Citizens Asset Management, Inc is not a registered broker-dealer, signifying that the firm cannot buy and sell securities for its clients' and own accounts and instead is required to go through a broker-dealer company to do so. Securities are defined as exchangable financial assets such as equities, options and bonds.
First Citizens Asset Management, Inc oversees the majority of its client assets in a discretionary manner. Discretionary management is a structure in which transaction judgments for the client's account are made by a portfolio manager without needing to seek client authorization. It also has two non-discretionary accounts with a total of $12.9 million in assets. The investment advisory firm supervises about $214,969 in assets for every client account. The average financial advisor at First Citizens Asset Management, Inc administers about 41 client accounts, placing it towards the middle in terms of personalization.
The company's central office is located at 4300 Six Forks Rd., Raleigh, North Carolina 27609. The company is permitted to serve customers throughout a few states, including Arkansas, Connecticut, Georgia, Indiana, North Carolina, Ohio, South Carolina, Tennessee, Texas and Virginia.
Assets Under Management
Number of Advisors
Disclosures
Office Location
First Citizens Asset Management, Inc by the Numbers
$273.7 million
49
1,273
$215.0 thousand
Products and Services
First Citizens Asset Management, Inc provides a variety of financial services, which can consist of financial planning services, portfolio management for individuals and small businesses and selection of other advisers. In the past financial year, First Citizens Asset Management, Inc provided financial planning services to 26-50 of its accounts. The firm does not sell products or offer services other than investment advice to its investment advisory accounts. First Citizens Asset Management, Inc is also affiliated with a number of other service providers in the financial services industry, including with a broker-dealer or securities dealer, banking or thrift institution and insurance company or agency.
Core Advisor Services
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Offered by 31% of firms
Financial Planning Services
This is the process of planning for your financial future, including for events such as retirement, your child's college education or estate succession.
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Offered by 46% of firms
Portfolio Management
This is the selection and management of an investment mix and portfolio strategy for individuals and small businesses.
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Find a firm that offers this service
Market Timing Services
This is the practice of attempting to make short-term profits on investments by buying low and selling high.
Other Services
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Offered by 20% of firms
Selection of Other Advisors
This is the firm's assistance with choosing other advisors to work with who may have different specialties.
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Publication of Periodicals
This is the publication of various financial education materials.
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Educational Seminars/Workshops
This is the hosting of seminars or workshops to educate investors on financial concepts.
Fee Structure
A financial advisor's fees largely vary depending on which services are provided. Fees charged by the company typically consist of the following fee type: asset-based. First Citizens Asset Management, Inc does participate in a wrap fee program, in which the company offers a service bundle for a single fee.
Available
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Offered by 69% of firms
Percentage of Assets
Unavailable
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Find one of the 21% of firms that offer this fee type
Hourly
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Find one of the 1% of firms that offer this fee type
Commissions
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Find one of the 26% of firms that offer this fee type
Performance-based
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Find one of the 0% of firms that offer this fee type
Subscription
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Find one of the 32% of firms that offer this fee type
Fixed
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Find one of the 10% of firms that offer this fee type
Other
Types of Clients
The firm manages money for a broad range of investors. First Citizens Asset Management, Inc caters to retail investors, high net worth investors, charitable organizations, state or municipal government entities and corporations. Out of its 1,273 accounts, First Citizens Asset Management, Inc's biggest client group is retail investors, although it also manages money for 20 high-net-worth individuals. The SEC defines a high-net-worth individual as an individual who has at least $750,000 in AUM or a net worth of at least $1.50 million or who is considered a "qualified purchaser" (a standard met by having at least $5 million in investments). None of the firm's accounts reside abroad.
- High-Net-Worth Individuals* - 1.57%
- Other Individuals - 97.25%
- Corporations - 1.02%
- Charitable Organizations - 0.16%
* The U.S. Securities and Exchange Commission (SEC) defines a high-net-worth individual as someone who has at least $750,000 under management.
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Disclosures
First Citizens Asset Management, Inc does not have any disclosures.
Please visit its Form ADV for more details.
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Financial Advisors at First Citizens Asset Management, Inc
Raleigh, NC
Atlanta, GA
Raleigh, NC
Raleigh, NC
Charlotte, NC
Columbia, SC
Raleigh, NC
Raleigh, NC
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