Raleigh, N.C. - First Citizens Wealth Management, part of Raleigh-based First Citizens Bank, today announced that it has implemented an industry leading integrated platform by Envestnet, providing a more unified experience for financial advisors and enhanced client service.
Envestnet’s platform provides First Citizens financial advisors, across all Wealth Management business lines, comprehensive access to powerful technologies and services enabling them to deliver client investment strategy and offerings from multiple proprietary and third-party strategies.
“Leveraging Envestnet’s smart systems means our financial advisors can devote more time to better serving our clients,” said Michael Wilson, First Citizens Wealth Management Executive. “This new partnership is an important step toward creating a more integrated, enhanced experience for our clients as we help them grow, manage and preserve their wealth.”
Envestnet platform capabilities encompass proposal generation risk profiling, account onboarding, portfolio management, administrative workflow, client reporting and billing, compliance, and business management oversight tools.
“There is a rapid evolution occurring within the bank wealth management space. These institutions are seeking state of the art digital tools and fiduciary services for their employees and clients that sit across all lines of business,” said John Yackel, Executive Managing Director, head of Institutional Business Development at Envestnet. “Our unique One Wealth offering enables First Citizens Wealth Management to integrate tools across their multiple business lines and multiple custodians into an integrated smart system that unifies their wealth management experience and gives them the opportunity to better focus on building and fostering strong client relationships.”
About First Citizens Wealth Management
First Citizens Wealth Management is a joint marketing mark of First-Citizens Bank & Trust Company ("First Citizens Bank"), Member FDIC; First Citizens Investor Services, Inc., Member FINRA/SIPC, an SEC-registered broker-dealer and investment advisor; and First Citizens Asset Management, Inc., an SEC-registered investment advisor.
Founded in 1898 and headquartered in Raleigh, N.C., First Citizens Bank serves customers at more than 500 branches in 22 states. First Citizens Bank is a major subsidiary of First Citizens BancShares Inc. (Nasdaq: FCNCA), which has $34 billion in assets. For information, call toll free 1.888.FC DIRECT (1.888.323.4732) or visit firstcitizens.com. First Citizens Bank. Forever First®.
Investments in securities, annuities and insurance are not insured by the FDIC or any federal government agency; may lose value; are not a deposit or other obligation of, or guaranteed by, any bank or bank affiliate; and are subject to investment risks, including possible loss of the principal amount invested. Brokerage and some investment advisory services are offered through First Citizens Investor Services, Inc. Member FINRA/SIPC. First Citizens Asset Management, Inc. provides investment advisory services.
Envestnet, Inc. (NYSE: ENV) is the leading provider of intelligent systems for wealth management and financial wellness. Envestnet’s unified technology enhances advisor productivity and strengthens the wealth management process. Envestnet empowers enterprises and advisors to more fully understand their clients and deliver better outcomes.
Envestnet enables financial advisors to better manage client outcomes and strengthen their practices. Institutional-quality research and advanced portfolio solutions are provided through Envestnet | PMC, our Portfolio Management Consultants group. Envestnet | Yodlee is a leading data aggregation and data analytics platform powering dynamic, cloud-based innovation for digital financial services. Envestnet | Tamarac provides leading rebalancing, reporting, and practice management software for advisors. Envestnet | Retirement Solutions provides an integrated platform that combines leading practice management technology, research, data aggregation and fiduciary managed account solutions.
More than 54,000 advisors and 2,500 companies including: 16 of the 20 largest U.S. banks, 38 of the 50 largest wealth management and brokerage firms, over 500 of the largest Registered Investment Advisers, and hundreds of Internet services companies, leverage Envestnet technology and services. Envestnet solutions enhance knowledge of the client, accelerate client on-boarding, improve client digital experiences and help drive better outcomes for enterprises, advisors and their clients.
First Citizens Bank