KLS

What KLS does

First Citizens Wealth operates as the wealth management division of First Citizens BancShares, Inc., a publicly traded bank holding company (NASDAQ: FCNCA) that has been family-run across four generations of the Holding family. Founded in 1898 as First-Citizens Bank & Trust Company in North Carolina, the wealth management platform serves high-net-worth individuals, families, business owners, entrepreneurs, and institutional clients across the United States. The product suite spans self-directed investing (NetXInvestor), professionally managed guided investing, professional investment advisory, Delaware Trust services, private mortgage lending, securities-backed lines of credit, customized lending, retirement plan services, institutional custody, charitable advising, and comprehensive planning services covering estate, retirement, tax, charitable, protection, and business succession. Distribution occurs through the parent bank's physical branch network, dedicated wealth strategists and relationship managers, the digital banking platform, and the NetXInvestor self-directed brokerage, with affiliated broker-dealer (FCIS) and SEC-registered investment advisors (FCAM, SVB Wealth LLC) operating as core distribution entities.

The business model is multi-stream and largely recurring: investment advisory services generate asset-based fees; brokerage produces transaction commissions and account fees; insurance products (life, property, casualty, cyber) yield recurring commissions; and private banking/lending (including trust services through First Citizens Delaware Trust Company and First-Citizens Bank & Trust Company, Member FDIC) generates interest and fee income. Customer segmentation is hybrid—four primary segments (Individuals & Families, Businesses & Corporations, Entrepreneurs/Founders/Investors, Nonprofits) addressed through both enterprise relationship management and self-serve digital tools, with go-to-market executed primarily through dedicated relationship managers and wealth strategists.

Technically, the platform integrates a digital banking core with third-party wealth tools—MoneyGuidePro powers financial planning, NetXInvestor powers self-directed trading, and a wide array of treasury integrations (ChecXchange, FXEnvoy, Integrated Payables, Worldpay IQ, Visa Spend Clarity, Deluxe receivables, Ascensus, Betterment for retirement, Stellar Technology for fund administration) extend commercial capabilities. Marketing leverages thought leadership via the 'Making Sense' market outlook newsletter, the 'Building More Than Business' podcast, the annual Beyond Wealth Report, and organic social channels. The most significant corporate event shaping the current footprint is the 2023 FDIC-assisted acquisition of Silicon Valley Bank, which was integrated and rebranded in 2024 as 'SVB, a division of First-Citizens Bank & Trust Company,' materially expanding the firm's national reach and adding an innovation-economy client base.

Name

KLS

Legal name

First-Citizens Bank & Trust Company

Website

https://klsadvisors.com

Company type

Public

Founded year

1898

Operating status

Operating

Headcount range

101–250 employees

Short description

First Citizens Wealth is the wealth management division of First Citizens BancShares, a publicly traded, family-run bank holding company, delivering investment advisory, trust, private banking, and institutional asset management services to high-net-worth individuals, families, business owners, and nonprofits across the United States.

Ownership category

akta.pro rank

Product category

Wealth Management

NAICS

Portfolio Management and Investment Advice (523940), Trusts, Estates, and Agency Accounts (52592), Trust, Fiduciary, and Custody Activities (523991)

SIC

Savings Institutions, Not Federally Chartered (6036), Finance Services (6199)

akta.pro primary industry

Private Banking Business Owners & Entrepreneur Solutions (Liquidity Events, Pre-IPO) (FSABADAK)

akta.pro secondary industries

Affluent / Mass-Affluent Private Banking (FSABADAC), Private Wealth Planning (Tax, Estate & Succession) (FSAAABAE), Estate Planning, Trust Structuring & Governance (FSAAADAF)

Keywords

• Wealth management services
• Private banking solutions
• Investment advisory
• Trust and fiduciary
• Commercial banking

Headquarters

HQ city

New York

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Brokerage Products and Services: Securities brokerage services offered through First Citizens Investor Services, Inc. (FCIS), a registered broker-dealer and member of FINRA and SIPC. Revenue generated through transaction commissions, account fees, and advisory service charges.
2. Investment Advisory Services: Advisory services offered through FCIS, First Citizens Asset Management, Inc. (FCAM), and SVB Wealth LLC, all SEC-registered investment advisors. Revenue from advisory fees, typically asset-based.
3. Insurance Products: Insurance products and services offered through FCIS, a licensed insurance agency. Includes life, property, casualty, and other insurance products for wealth protection.
4. Banking and Lending: Banking, lending, and trust products and services offered through First-Citizens Bank & Trust Company and First Citizens Delaware Trust Company, including private mortgage lending and securities-backed lines of credit.

Go-to-market motion1 record

Distribution channels5 records

Marketing channels6 records

Core offering

First Citizens Wealth is the wealth management division of First Citizens BancShares, delivering integrated investment advisory, trust and fiduciary, private banking, and institutional asset management services to high-net-worth individuals, families, business owners, and institutional clients. Core offerings include self-directed and guided investing, Delaware Trust services, private mortgage lending, securities-backed lines of credit, retirement plan administration, institutional custody, and comprehensive planning across estate, tax, charitable, retirement, protection, and business succession needs.

Product overview

First Citizens Wealth is a comprehensive wealth management platform offered by First Citizens BancShares, operating as a multi-channel financial services organization with personal banking, small business banking, commercial banking, and wealth management divisions. The wealth management offering is a platform-plus-modules architecture consisting of core investment and advisory services (Self-Directed Investing, Guided Investing, Professional Investment Advisory), trust and fiduciary services (Delaware Trust Services), private banking products (Private Mortgage Lending, Securities-Backed Lines of Credit, Customized Lending), institutional asset management (Retirement Plan Services, Institutional Custody Services, Charitable Advising Services), and comprehensive planning services (Estate Planning, Retirement Planning, Tax Planning, Charitable Planning, Protection Planning, Business Planning). The broader First Citizens ecosystem also encompasses personal banking (checking, savings, credit cards, mortgages, loans, retirement accounts, insurance), small business services (cash management, merchant services, SBA loans, international banking), and commercial banking (asset-based lending, capital markets, commercial real estate, treasury management). Research and insights are delivered through the Making Sense market outlook platform and Building More Than Business podcast series.

Differentiator

Problem solved

Functional benefit

Brands

• SVB: A division of First-Citizens Bank & Trust Company, offering commercial and private banking services. Formerly Silicon Valley Bank, acquired in 2023.
• First Citizens Investor Services
• First Citizens Wealth

Products and services

• Self-Directed Investing Online investment platform allowing clients to control their portfolio, invest in real time, and manage their own trades and allocations, served through the NetXInvestor-powered brokerage.
• Guided Investing Professionally managed investment advisory service with guidance from financial advisors for clients seeking portfolio management support.
• Education Savings Accounts Tax-advantaged savings accounts for funding education expenses.
• Delaware Trust Services Trust and fiduciary services offered through First Citizens Delaware Trust Company for wealth preservation and estate planning.
• Professional Investment Advisory Professional advisory services for investment management and portfolio strategy delivered by SEC-registered investment advisors.
• Donor Advised Fund Charitable giving vehicle allowing clients to contribute assets and recommend grants over time.
• Private Mortgage Lending Customized mortgage financing solutions for high-net-worth clients through private banking.
• Securities-Backed Lines of Credit Lending product allowing clients to borrow against their investment portfolio holdings.
• Customized Lending Tailored lending solutions addressing unique financial needs of private banking clients.
• Retirement Plan Services Institutional services for corporate retirement plan administration and management.
• Institutional Custody Services Custody services for institutional assets and investment holdings.
• Charitable Advising Services Advisory services for charitable giving strategies and philanthropic planning.
• Estate Planning Planning services for wealth transfer, estate administration, and legacy preservation.
• Retirement Planning Comprehensive retirement planning services for individuals and families.
• Charitable Planning Tax-efficient charitable giving strategies and philanthropic planning.
• Tax Planning Strategic tax planning services to minimize tax liabilities across personal and business finances.
• Protection Planning Risk management and insurance planning for asset and income protection.
• Business Planning Business exit planning, succession planning, and business wealth optimization services.
• Cash Management Comprehensive cash management solutions including payables, receivables, liquidity, and fraud prevention for small businesses.
• Merchant Services Payment processing and merchant services for business transactions.
• International Banking Services Foreign exchange, letters of credit, and international wire transfer services for global business operations.
• Asset-Based Lending Commercial lending secured by company assets for working capital and growth.
• Capital Markets Capital markets solutions and advisory for corporate financing needs.
• Commercial Real Estate Financing and services for commercial property acquisitions and development.
• Middle Market Banking Banking services tailored for middle-market companies.
• Treasury Management Services Enterprise treasury management including liquidity, payments, and reporting solutions.
• Sponsor Finance Financing solutions for private equity sponsors and their portfolio companies.
• Community Association Banking Specialized banking services for HOAs and community associations.
• Business Advisory Services Integrated business and personal planning advisory services for business owners including exit planning and business valuation.

Quantifiable outcome

• 26% of experienced business owners report family-owned business status vs. 9% of first-time owners (Beyond Wealth Report)
• +2 more outcomes

Named customers1 record

Segments4 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration20 records

Feature4 records

Partnerships

Seven partnerships are on record, tiered core, minor and supporting.

• First Citizens Investor Services, Inc. (FCIS)coreOthersAffiliate registered broker-dealer and member of FINRA and SIPC through which brokerage products and services are offered. Core distribution channel for securities products.
• First Citizens Asset Management, Inc. (FCAM)coreOthersAffiliate SEC-registered investment advisor providing advisory services alongside FCIS and SVB Wealth LLC.
• SVB Wealth LLC (SVBW)coreOthersAffiliate SEC-registered investment advisor offering advisory services as part of the First Citizens Wealth affiliate network.
• First Citizens Delaware Trust CompanycoreOthersAffiliate trust company providing Delaware Trust services and fiduciary functions for wealth management clients.
• FINRAminorOthersFinancial Industry Regulatory Authority - self-regulatory organization for broker-dealers. FCIS is a member.
• SIPCminorOthersSecurities Investor Protection Corporation - provides protection for brokerage customers. FCIS is a member.
• MoneyGuideProsupportingTechnology or IntegrationFinancial planning software platform integrated into First Citizens Wealth offerings for client financial planning and goal tracking.

Scale indicators2 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Truist Wealth: Wealth management arm of Truist Financial, a Southeast-focused regional bank. Directly comparable to First Citizens Wealth in HNW advisory, brokerage, and trust services with a similar regional concentration.
• PNC Wealth Management: Wealth management division of PNC Financial Services, offering HNW advisory, private banking, and institutional asset management. Comparable in integrated bank + wealth model and emphasis on business-owner and corporate executive relationships.
• Regions Private Wealth: Wealth management arm of Regions Financial, another Southeast regional bank. Directly comparable in trust services, HNW advisory, and integrated personal/business wealth planning.
• Fifth Third Wealth & Asset Management: Wealth and asset management division of Fifth Third Bank, providing HNW advisory, private banking, and institutional asset management. Comparable in mid-sized regional-bank wealth offering.
• Citizens Wealth Management: Wealth division of Citizens Financial Group, serving HNW individuals and families with advisory, brokerage, and private banking. Comparable regional-bank wealth model targeting similar client segments.
• Comerica Wealth Management: Wealth management division of Comerica, providing private banking, investment advisory, and trust services to HNW individuals and businesses. Comparable in business-owner and entrepreneurial client focus.
• Huntington Private Client Group: Wealth management group of Huntington Bancshares, offering investment management, private banking, and trust services. Comparable in Midwest-anchored regional bank wealth model.
• Key Private Client Group: Wealth management arm of KeyCorp, serving affluent and HNW clients with integrated banking, investment, and trust services. Comparable in regional-bank-led integrated wealth model.

Broad incumbents

• Bank of America Private Bank: Private banking arm of Bank of America, a bulge-bracket national wealth manager. Comparable in private banking, lending, and trust capabilities but at significantly larger national scale with broader advisor coverage.
• Wells Fargo Wealth & Investment Management: Wealth and investment management division of Wells Fargo, one of the largest US wealth platforms. Comparable in offering breadth (advisory, brokerage, lending, trust) but with national scale and broader advisor footprint than First Citizens Wealth.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat6 records

Key risks4 records

Key highlights5 records

Customer concentration

• Xtwitter.com/firstcitizens
• YouTubeyoutube.com/channel/UCGp8w5KIoFheteqBeKaKuXw
• Facebookfacebook.com/firstcitizensbank
• LinkedInlinkedin.com/company/firstcitizenswealth

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Subsidiaries6 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about KLS