First Citizens Wealth Expands Support for Entrepreneurs and Business Owners in Fast-Growing Atlanta Market

Rhea-AI Summary

First Citizens Wealth has announced an expansion of its presence in Atlanta to meet growing demand from entrepreneurs and business owners. The company is adding a portfolio strategist and plans to hire a wealth consultant and two private bankers to enhance its capacity to assist clients in achieving their financial goals. The Atlanta team specializes in private banking, wealth consulting, and certified exit-planning services for business owners.

First Citizens Wealth operates from three locations in the Atlanta area and has a presence in 29 locations across Georgia. With over $50 billion in assets under management, the company is building a nationwide wealth management practice focused on personalized customer service. The expansion in Atlanta is seen as part of a broader growth trajectory to meet the needs of the market's thriving entrepreneurial community.

Positive

• Expansion of services in the growing Atlanta market
• Addition of new staff to enhance client support
• Specialization in exit-planning services for business owners
• Presence in 29 locations across Georgia
• Over $50 billion in assets under management

Negative

• None.

RALEIGH, N.C., Aug. 1, 2024 /PRNewswire/ -- First Citizens Wealth today announced it is expanding its presence in Atlanta to better support growing demand from its core clientele of entrepreneurs and business owners.

Continued growth is driving the recent addition of a portfolio strategist and the impending additions of a wealth consultant and two private bankers to the First Citizens Wealth team as it expands its capacity to help clients meet their financial objectives.

The First Citizens Wealth team in Atlanta specializes in private banking and wealth consulting, with an emphasis on certified exit-planning services for business owners. The team leverages its expertise to assist business owners in evaluating the best ways of transitioning out of their business, which may include transferring to family members, selling to insiders, or selling to a third party.

"Atlanta is an exceptional market with an abundance of entrepreneurs and business owners seeking assistance in preserving and growing the value of their enterprise," said Michael Wilson, executive vice president and lead executive for First Citizens Wealth.

"By expanding our talent and capabilities, we ensure we are ready with the services and guidance needed to help entrepreneurs and business owners reach their financial objectives," Wilson added. "We expect these pending additions to our Atlanta team are only the beginning of its growth trajectory as clients continue to realize the value that our organization offers."

First Citizens Wealth serves its clients from three locations in the Atlanta area -- Alpharetta, Duluth and Cumberland. Overall, First Citizens Bank has a presence in 29 locations across Georgia, along with an active middle market banking and commercial lending practice statewide.

"We established the First Citizens Wealth team here in Atlanta in early 2020 and have embraced the market with the services and support it needs most," said Chad Kidwell, who leads the First Citizens team of wealth consultants, private bankers and portfolio strategists.

"First Citizens is a relationship bank with a rich history and a focus on strength, stability and growth," Kidwell said. "We are confident that our services and our expertise can help provide the right answer for entrepreneurs and business owners seeking financial advice and guidance."

With assets under management of more than $50 billion, First Citizens is building a nationwide wealth management practice with a relentless focus on high-touch, personalized customer service. More than 900 First Citizens Wealth associates deliver a broad range of financial products and expertise to clients from coast to coast.

First Citizens Wealth empowers clients with a comprehensive set of services and solutions to meet their unique and evolving needs. The team's holistic approach, goals-based strategy and personalized service help ensure clients can make smart decisions at every stage of their financial journey.  

About First Citizens Bank
First Citizens Bank helps personal, business, commercial and wealth clients build financial strength that lasts. Headquartered in Raleigh, N.C., First Citizens has built a unique legacy of strength, stability and long-term thinking that has spanned generations. First Citizens offers an array of general banking services including a network of more than 500 branches and offices in 30 states; commercial banking expertise delivering best-in-class lending, leasing and other financial services coast to coast; innovation banking serving businesses at every stage; and a nationwide direct bank. Parent company First Citizens Bancshares, Inc. (NASDAQ: FCNCA) is a top 20 U.S. financial institution with more than $200 billion in assets and a member of the Fortune 500™. Discover more at firstcitizens.com.

About the Entities, Brands and Services Offered
First Citizens Wealth™ (FCW) is a marketing brand of First Citizens BancShares, Inc., a bank holding company. The following affiliates of First Citizens BancShares are the entities through which FCW products are offered. Brokerage products and services are offered through First Citizens Investor Services, Inc. ("FCIS") , a registered broker-dealer, Member FINRA and SIPC.  Advisory services are offered through FCIS, First Citizens Asset Management, Inc. and SVB Wealth LLC, all SEC registered investment advisers.  Certain brokerage and advisory products and services may not be available from all Investment Professionals, in all jurisdictions, or to all investors. Insurance products and services are offered through FCIS, a licensed insurance agency. Banking, lending, trust products and services, and certain insurance products and services are offered by First-Citizens Bank & Trust Company, Member FDIC, and an Equal Housing Lender and SVB, a division of First-Citizens Bank & Trust Company.

For more information about FCIS, FCAM or SVBW and its Investment Professionals click here:
https://www.firstcitizens.com/wealth/disclosures  
https://www.svb.com/private-bank/disclosures/form-adv/

MEDIA RELATIONS:
Abigail M. Sumner
abigail.sumner@firstcitizens.com 

Lexa Tutela Losey
212-461-5305
Lexa.tutela@firstcitizens.com 

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SOURCE First Citizens Bank

FAQ

What services is First Citizens Wealth expanding in Atlanta?

First Citizens Wealth is expanding its private banking, wealth consulting, and certified exit-planning services for entrepreneurs and business owners in Atlanta.

How many new positions is First Citizens Wealth (FCNCA) adding to its Atlanta team?

First Citizens Wealth is adding a portfolio strategist and plans to hire a wealth consultant and two private bankers, totaling four new positions for its Atlanta team.

Where are First Citizens Wealth's locations in the Atlanta area?

First Citizens Wealth serves clients from three locations in the Atlanta area: Alpharetta, Duluth, and Cumberland.

What is the total assets under management for First Citizens Wealth as of August 2024?

As of August 2024, First Citizens Wealth reports having more than $50 billion in assets under management.