ThriveMore & First Citizens: A relationship strengthened over decades
Reed Vanderslik, President and CEO, Thrivemore: First Citizens has been our business banking partner for over 50 years and our institutional asset management partner for over 2 decades. They really help us manage our investment reserves and our foundation assets.
First Citizens Wealth® x Thrivemore: Advancing your institution's vision through every chapter
Reed: ThriveMore is a nonprofit organization serving older adults. We have everything from independent living, assisted living, memory care and skilled nursing. There's a need in the next 15 years for a million more housing units serving older adults, and we intend to be part of that solution.
Wealth management is critical to our organization because most of it is endowed funds that really support our mission, which is providing financial assistance to older adults who have run out of money. We had our investment portfolio really split equally between two organizations, and what we learned in looking at that is that we were not as diversified as we thought, and First Citizens' performance had been stronger. So we made the decision to combine all of our assets with First Citizens. The consolidation really of our investments all within First Citizens has been a good change for us.
We're continuing to grow, adding homes, launching new programs and expanding into new communities. When we're talking through initiatives or strategies, having the bank in that conversation is helpful to me because they come from a different perspective that can help us make a better decision.
My very first meeting on my very first day with ThriveMore was with First Citizens. That tells you everything about how important this relationship is to our organization.
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ThriveMore is a current client of First Citizens Wealth. They were not paid for their testimonial. They are not currently related to anyone who works for First Citizens Wealth or its affiliates.
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