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First Citizens Bank to offer clients tailored investment advice using ASI's Client Acquisition Solution
Lafayette, CA - November 16, 2005 - Advisor Software, Inc. (ASI), the market leader in portfolio construction and proposal solutions that enable financial institutions and advisors to improve the delivery of investment advice, today announced the licensing agreement of its Client Acquisition Solution (CAS) to First Citizens Bank.
Utilizing ASI's Client Acquisition Solution, the Capital Management Group at First Citizens Bank can quickly assess a client's risk tolerance and construct customized portfolios accordingly, using a broad range of investment products and asset classes. Powered by ASI research and analytics, the CAS workflow will allow the advisor to analyze current and proposed portfolios using institutional-caliber diagnostic tools, including asset allocation analysis, style and industry sector exposure analysis, security overlap analysis and Monte Carlo simulation. Once a recommended portfolio has been created, the advisor can configure a sophisticated proposal, complete with a client-specific investment policy statement, to communicate the advice to the client.
"This tool allows our advisors to efficiently develop a personalized investment strategy for our clients based on our unique investment process," said Eric Teal, chief investment officer, First Citizens Bank. "ASI offers us the ability to provide our clients with tailored investment proposals in a way that clearly communicates our investment advice."
"We are excited to be part of First Citizens Bank's focus on delivering innovative wealth management solutions in the markets they serve" said Andrew Rudd, CEO and Founder of ASI. "ASI's track record for improving advisor productivity and efficiency has been particularly impressive with our bank clients - we look forward to delivering similar results for our newest partner."
About First Citizens Bank
Headquarted in Raleigh, N.C., First Citizens Bank operates 340 branches in more than 200 cities and towns in North Carolina, Virginia West Virginia, Tennessee and Maryland. First Citizens is the major subsidiary of First Citizens BancShares (Nasdaq: FCNCA) with $14 billion in assets. Another BancShares' subsidiary, IronStone Bank, has 50 offices in Georgia, Florida, Texas, Arizona, California, New Mexico, Colorado, Oregon and Washington. The Capital Management Group is the company's investment division, servicing the investment and financial needs of institutional and high-net-worth markets.
For more information, visit firstcitizens.com or call toll free 1-888-FC DIRECT (1-888-323-4732).
About Advisor Software, Inc.
Advisor Software, Inc. (ASI) was founded in 1995 by Andrew Rudd (Founder, former Chairman and CEO of Barra, Inc.) to empower advisors to deliver institutional-strength analysis and advice to the individual investor. ASI's applications are designed for a wide range of asset management firms, broker/dealers, banks, insurance companies, online brokerages, and other financial institutions, enabling these institutions and their advisors to deliver more insightful, actionable investment advice and build stronger, more profitable client relationships. Advisor Software provides financial institutions with web-based hosted solutions that facilitate the investment decision-making process for their advisors and clients.
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