RALEIGH, N.C., April 22, 2008 (PRIME NEWSWIRE) -- First Citizens Investor Services Inc. has launched a state-of-the-art Asset Management Account that links a client's brokerage accounts at First Citizens Investor Services with a checking account provided by First Citizens Bank.
The result is a combination of checking and brokerage account features that provide clients with greater flexibility and convenience, according to Ramsey Jones, president of First Citizens Investor Services.
"Our new Asset Management Account is an attractive option for financially active clients who require easy access to multiple sources of funds," Jones said. "It simplifies how investing transactions are conducted and provides greater flexibility for managing finances. It's the ultimate in convenience for people with both brokerage and banking needs."
The easy-to-manage Asset Management Account is designed for customers who have a combined balance of $25,000 or more in cash and securities. Clients can choose from a variety of investments through First Citizens Investor Services, including stocks, bonds, and mutual and money market funds. They also receive convenient access to their funds through a checking account package provided by First Citizens Bank. The Asset Management Account also features a cash-sweep option that provides clients with a choice of investing checking account funds nightly in a tax-advantaged money market fund or in an interest-bearing First Citizens Bank FDIC-insured deposit account.
According to Jones, the Asset Management Account is unique in that it offers clients access to real-time balances and transaction histories through personal online banking services provided by First Citizens Bank. Account holders also enjoy the benefits of a toll-free brokerage call center staffed with associates who can provide specific account information, answer questions and assist with trades and quotes.
Additional features include:
* A relationship with a First Citizens Investor Services FinancialConsultant who can provide investment guidance
* A monthly consolidated statement of banking and brokerage activitythat makes keeping track of multiple accounts easier and less time-consuming
* A consolidated tax and year-end statement that provides details ofbrokerage and banking transactions
First Citizens Investor Services, Inc., member FINRA/SIPC, is a nonbank subsidiary of Raleigh-headquartered First Citizens Bank. First Citizens Investor Services assists customers in developing strategies to meet their financial goals, including retirement, college savings and corporate investment savings.
Founded in 1898, First Citizens Bank operates 340 branches in more than 200 cities and towns in North Carolina, Virginia, West Virginia, Tennessee and Maryland. The bank is a major subsidiary of First Citizens BancShares Inc. (Nasdaq:FCNCA), which has $16.2 billion in assets. First Citizens Bank is committed to providing superior financial services to individual customers and small to mid-sized businesses. For more information about First Citizens Bank and its services, visit firstcitizens.com or call toll-free 1-888-FC DIRECT (1-888-323-4732). Member FDIC.
Investment and insurance products and services are offered by First Citizens Investor Services, Inc., which is a registered broker-dealer and licensed insurance agency, not a bank. These products and services are not offered by any bank and First Citizens Investor Services, Inc. is separate and distinct from banks with which it is affiliated. Products and services offered by First Citizens Investor Services, Inc. (1) are not insured or guaranteed by the Federal Deposit Insurance Corporation (FDIC) or any other agency of the United States; (2) are not deposits or other obligations of, or guaranteed by, any bank or any affiliate of a bank, or First Citizens Investor Services, Inc.; and (3) involve investment risks, including the possible loss of principal invested and possible loss of value.