First Citizens Wealth Management, component of Raleigh-based First Citizens Bank, today announced that it has put in place an industry leading integrated platform by Envestnet, offering 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.”