First Citizens Asset Management, Inc (Raleigh)

Name: First Citizens Asset Management, Inc
Address: 4300 Six Forks Rd., Raleigh, NC, 27609
Telephone: 800-229-0205

First Citizens Asset Management, Inc is a large advisory firm based in Raleigh. It manages $155.22 million of regulatory assets for 836 client accounts. It has been registered with the SEC as an adviser since 2011 and has operated in the jurisdictions of Florida, Georgia, Indiana, and 7 other states.

First Citizens Asset Management provides financial planning services, portfolio management for individuals and small businesses, and selection of other advisers. It prepares financial plans for more than 50 clients. On top of advisory services, the firm doesn't engage in other business activities.

First Citizens Asset Management: assets under management

The assets under management (AUM) of First Citizens Asset Management, Inc is $155.22 million. The firm's AUM has gone down by -6% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $63.58 million in discretionary accounts and $91.64 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $147.52 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $226.27 thousand.

Investments

The firm invests in investment and business development companies the most. They account for 69% of the total AUM. The second-largest asset type is exchange traded securities, which make up 24% of the firm’s portfolio. Investments in cash and cash equivalents form 3% of the total invested assets.

Fees & Commissions

The advisory firm has a single stream of revenue. Clients pay First Citizens Asset Management, Inc for their services and products based on a percentage of assets under management. Compensation based on assets under management promotes a long-term relationship between a client and the adviser and helps align mutual interests. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Sharon Walters Bryant serves?

The firm provides services to individuals, charitable organizations, high net worth individuals, corporations or other businesses, and state or municipal government entities. The largest group of clients of Sharon Walters Bryant is individuals with 772 clients and $112.4 million of assets under management. Among the 7 most similar advisory firms, First Citizens Asset Management has the highest percentage of individuals out of all clients.

The amount of regulatory assets under management is $155.22 million for 819 clients that can include trusts, estates, and 401(k) plans and IRAs of individuals and their family members. None of the firm’s clients are foreign persons or businesses.

First Citizens Asset Management doesn't advise any private funds.

Careers at First Citizens Asset Management, Inc

The company employs 48 people that are either part- or full-time employees. 71 percent of the employees work as investment advisers or researchers. 48 employees are registered as investment adviser representatives with the state securities authorities.

There isn’t anyone with the role of looking for and bringing in new clients on behalf of the firm. The firm doesn’t compensate employees in addition to the salary for bringing in new clients. Employees don’t receive compensation from other entities for client referrals.

Sharon Walters Bryant has been acting as President since 1 Jul 2015. Steven Fred Bogaczyk joined the executive team most recently as the Director, Chief Financial Officer.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Inc. First Citizens Bank And Trust Company	Parent company	1 May 2005	75% - 100%	57-0115220
Inc. First Citizens Bank & Trust Co.	Parent company	1 May 2005	75% - 100%	57-0115220
Robert Edward Spires	Chief compliance officer	1 Jan 2007	Other	2311376
Paul Andrew Lehman	Director of investment sales	1 Feb 2008	Other	2444502
Sharon Walters Bryant	Director of wealth advisory group	1 Feb 2010	Other	2251221
John Gerard Suger	Director of sales	1 Oct 2011	Other	1655163
Sharon Walters Bryant	Director	1 Jul 2015	Other	2251221
Michael Christopher Wilson	Director	1 Jul 2015	Other	4301352
Edward Lee Willingham	Director	1 Jul 2015	Other	5667294
Barry Palmer Harris	Director	1 Jul 2015	Other	1965172
Brent Ciliano	Director	1 Jan 2016	Other	3058895
Steven Fred Bogaczyk	Director, chief financial officer	1 Feb 2016	Other	2469749

Indirect Owners

The SEC currently registers 2 indirect owners.

Name	Entity	Date acquired	Ownership	Employer ID
First Citizens Bancorporation	Owner	1 Nov 1982	75% - 100%	57-0738665
Inc First Citizens Bancshares	Shareholder	1 Oct 2014	75% - 100%	56-1528994

Based in Raleigh

The principal office where First Citizens Asset Management, Inc performs its advisory services is located at 4300 Six Forks Rd., Raleigh, NC 27609, which is also the mailing address of the firm. An additional office of the firm is in Sumter, SC. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 800-229-0205 or by fax 919-716-2230. The normal business hours are 8:30 - 5:00 on Monday - Friday. You can find more information about the New York firm at firstcitizensonline.com/wealth/investments/management.html.