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First Citizens Wealth, the wealth management division of First Citizens Bank (NASDAQ: FCNCA/FCNCB), conducted a study revealing insights on affluent Americans' money management and attitudes. The 'Beyond Wealth' study highlights affluent Americans' confidence in managing their finances, retirement concerns, wealth transfer, the role of financial advisors, and the importance of estate planning. The study emphasizes the need for early estate planning, working with financial professionals, and the benefits of engaging a financial advisor. First Citizens Wealth offers a comprehensive range of services and solutions to assist clients in achieving their financial goals.
First Citizens Wealth, the wealth management division of First Citizens Bank, released a study on affluent Americans' money management and wealth transfer readiness. Key findings reveal that 66% believe they manage money better than others, but only 50% feel prepared to transfer wealth to heirs. Affluent Americans expect to need $5.5 million for retirement and wealth transfer. Financial advisors are credited by 89% for growing wealth and reducing financial stress. However, only two-thirds have a will, and even fewer have an estate plan. The study highlights the importance of early estate planning and financial advising.
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