MEMPHIS, Tenn., April 23, 2013 (GLOBE NEWSWIRE) -- First Tennessee Advisory Services (FTAS), which offers investment advice to clients, ranks No. 8 on Forbes magazine's list of the Top 50 Fastest Growing wealth management firms. FTAS is a business line of First Tennessee Bank, a subsidiary of First Horizon National Corp. (NYSE:FHN).
Forbes listed a growth in assets under management of $2.7 billion for FTAS, and a total under management of $3.4 billion, which puts FTAS at No. 37 on the Forbes list of the Top 50 RIA (Registered Investment Advisory) Giants. The magazine says a booming stock market is drawing new clients to wealth management firms, which are seeing assets climb to record levels.
"Our growth reflects the hard work of our wealth management sales force, including retail investment officers and trust officers, who did a remarkable job promoting the attributes of the FTAS offering to their clients," said Karen Kruse, president of FTAS. "We hope to continue to grow by focusing on offering the best investment management and service."
FTAS offers investment portfolios ranging from ultra-conservative to aggressive, a product lineup suitable for clients with $100,000 or more to invest who may not have the expertise to manage their investments. First Tennessee Bank is working to make customers more aware of the investment services offered.
"First Tennessee is more than just a bank for deposits, loans and ATMs. We are a sophisticated investment advisor providing independent advice and a broad range of services," said Dave Miller, head of retail banking.
About First Horizon
The 4,300 employees of First Horizon National Corp. (NYSE:FHN) provide financial services through more than 170 First Tennessee Bank locations in and around Tennessee and 21 FTN Financial Group offices in the U.S. and abroad. First Tennessee has the leading combined market deposit share in the counties where it does business and one of the highest customer retention rates of any bank in the country. FTN Financial is a capital markets industry leader in fixed income sales, trading and strategies for institutional clients in the U.S. and abroad. First Horizon has been recognized as one of the nation's best employers by AARP and Working Mother magazines. More information is available at http://www.fhnc.com/">www.fhnc.com
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