First Citizens Investor Services, Inc

CRD#44430
Investment Advisor Firm

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Overview

First Citizens Investor Services, Inc operates as an advisory firm headquartered in Raleigh, North Carolina. It oversees $980.9 million in assets under management throughout 3,584 client accounts, making it one of the bigger financial advisory firms in the country by assets under management (AUM). The firm has a large team of 175 employees, ninety-three of whom are financial advisors. First Citizens Investor Services, Inc is not a registered broker-dealer, meaning the advisor is not able to buy and sell securities for its customers' and own accounts and instead is required to go through a broker-dealer firm to do so. Securities are defined as exchangable financial investments such as bonds, equities and options.

First Citizens Investor Services, Inc oversees all of the firm's accounts on a discretionary basis. Discretionary management is a structure in which a portfolio manager has the discretion to make buy and sell choices for the client's account without needing to seek the client's permission. The investment advisory firm's typical account size is $273,694. The average advisor at First Citizens Investor Services, Inc administers about 39 client accounts, making it about average in terms of personalization.

First Citizens Investor Services, Inc's central office is at 100 E Tryon Road, Raleigh, North Carolina 27603. It is registered to serve customers throughout 17 U.S. states and territories.

Assets Under Management

$980.9 million

Number of Advisors

93

Disclosures

No

Office Location

100 E Tryon Road
Raleigh, NC 27603

First Citizens Investor Services, Inc by the Numbers

Total Assets Under Management

$980.9 million

National Average: $3.7 billion
Total Number of Employees

175

National Average: 29
Total Number of Accounts

3,584

National Average: 2,073
Average Account Size

$273.7 thousand

National Average: $1.8 million

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Products and Services

First Citizens Investor Services, Inc provides a variety of services, which can include financial planning services, portfolio management for individuals and small businesses, portfolio management for institutional clients and selection of other advisers. However, it did not provide financial planning services to any of its clients in the prior fiscal year. The company does sell products or offer services different than investment advisory services to its customers. First Citizens Investor Services, Inc is affiliated with one or more 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

  • Offered by 45% 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.

  • Offered by 62% 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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    Market Timing Services

    This is the practice of attempting to make short-term profits on investments by buying low and selling high.

Other Services

  • Offered by 23% of firms

    Selection of Other Advisors

    This is the firm's assistance with choosing other advisors to work with who may have different specialties.

  • Find a firm that offers this service

    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.

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Fee Structure

Fees charged by financial advisors vary depending on the type of financial services offered. Fees charged by First Citizens Investor Services, Inc can include any blend of the following fee types: asset-based or fixed. The company participates in a wrap fee program, in which the firm offers a service bundle for a comprehensive fee.

Available

  • Offered by 74% of firms

    Percentage of Assets

    Show Explanation

    This fee, which is the most common fee type charged by advisors for portfolio management, is based on the amount of assets you have under management. Also referred to as an asset-based fee, this fee typically ranges from 0.50%-2.00% of AUM annually. You'll typically pay a lower rate the more assets you have under management.

  • Offered by 40% of firms

    Fixed

    Show Explanation

    Fixed fees are a one-time, lump sum charged for a specific service, like the creation of a financial plan without subsequent implementation. This can be useful if you only need advice for one specific purpose, rather than a long-term advisor. Fixed fees usually range from $1,000 to $3,000.

Unavailable

  • Find one of the 35% of firms that offer this fee type

    Hourly

    Show Explanation

    Like a lawyer, a financial advisor may charge you by the hour. This can be helpful if you are only looking for short-term or one-time advice. Rates typically range from $100-$300 per hour, depending on the complexity and level of services needed.

  • Find one of the 2% of firms that offer this fee type

    Commissions

    Show Explanation

    Occasionally, advisors earn commissions from selling financial products, such as securities or insurance policies, or making certain referrals or transactions. Advisors who earn commissions may be incentivized to make certain recommendations to clients in order to make a commission. Fee-only advisors do not earn commissions, while fee-based advisors may.

  • Find one of the 17% of firms that offer this fee type

    Performance-based

    Show Explanation

    Advisors only earn performance-based fees if a portfolio outperforms a defined benchmark. This fee may be calculated in a number of ways but most commonly is charged as a percentage of investment profits. Performance-based fees may incentivize advisors to make riskier decisions in order to generate higher returns.

  • Find one of the 1% of firms that offer this fee type

    Subscription

    Show Explanation

    Firms generally charge this fee for educational materials provided, such as a monthly magazine. This can be useful if you want to learn about investing or financial management on your own.

  • Find one of the 12% of firms that offer this fee type

    Other

    Show Explanation

    Firms can sometimes charge customers using non-traditional fee structures. See this firm's Form ADV for more details.

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Types of Clients

First Citizens Investor Services, Inc provides services to retail investors, high net worth investors, charitable organizations and corporations. Out of its 3,584 accounts, First Citizens Investor Services, Inc's biggest client group is retail investors, though it also caters to 70 high-net-worth individuals. A high-net-worth individual is defined by the SEC as someone who has at least $750,000 in AUM or a net worth of at least $1.50 million or who counts as a "qualified purchaser" (a standard met by having at least $5 million in investments). None of its clients are non-U.S. persons.

  • High-Net-Worth Individuals* - 1.93%
  • Other Individuals - 96.88%
  • Corporations - 1.13%
  • Charitable Organizations - 0.06%

* 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 Investor Services, Inc does not have any disclosures.

Please visit its Form ADV for more details.

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Financial Advisors at First Citizens Investor Services, Inc

Andrew White
Augusta, GA
Robert Dickinson
Raleigh, NC
Ryan Hedlund
Columbia, SC
Edward Turrisi
Greenville, NC
John Swindell
Raleigh, NC
John Liddicoat
Raleigh, NC
Mitchell Johnson
Wilmington, NC
Channing Hamby
Hayesville, NC

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This content was compiled from the SEC and FINRA

Certified Financial Planner Board of Standards, Inc. (CFP Board) owns the certification marks CFP® and CERTIFIED FINANCIAL PLANNER™ in the United States, which it authorizes use of by individuals who successfully complete CFP Board’s initial and ongoing certification requirements.