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TheStreet Open House

Atlantic Trust Achieves 26 Consecutive Quarters Of Growth

Stock quotes in this article: IVZ

ATLANTA, Nov. 12, 2013 /PRNewswire/ -- Atlantic Trust announced today that the firm's growth continues, with assets under management (AUM) reaching $22.8 billion, including $1.4 billion of net client cash flows year-to-date through September 30, 2013. For the third quarter, Atlantic Trust's ending AUM of $22.8 billion represents a 12.3% increase since year-end 2012 ( $20.3 billion).

(Logo: http://photos.prnewswire.com/prnh/20110131/MM39469LOGO-c )

Strong client retention and a steady inflow of assets from existing and new client relationships have led to Atlantic Trust's continued success. Year-to-date through September 30, the firm has achieved a 99% retention rate, with nine of its offices achieving 100% client retention with those clients entrusting more than $5 million to Atlantic Trust. Of the $1.4 billion in net flows, 79% has come from net new business and 21% from net client additions. These flows represent a healthy blend of new relationships, which typically are referrals from clients and their tax and legal advisors as well as industry professionals. Current clients also demonstrated their confidence in the firm by continuing to expand their relationship with Atlantic Trust. 

"Our organic growth results directly from our ongoing commitment to providing investment excellence and superior service to our clients," said Jack Markwalter, chairman and CEO. "The vast majority of our new business is referred to us by existing clients and friends of our firm, which underscores the critical importance of keeping our clients' interests at the center of all we do."

Atlantic Trust's positive momentum is visible across the business. The firm hired 35 professionals year-to-date, with 16 new professionals in the third quarter (through September 30, 2013), including a wealth strategist in Boston and two senior vice presidents in Washington, D.C., and Atlanta.

"Growth is meaningful for Atlantic Trust's clients, as it allows us to continue investing in our business, specifically our investment platform and our client service capabilities," notes Eric Propper, president and chief operating officer. "Our ongoing investment back into our business enables us to continuously improve all the aspects of the value proposition for our clients, which we believe creates a virtuous circle that ultimately leads to further growth. We believe it is this steady and consistent growth of Atlantic Trust that continues to differentiate our firm."

About Atlantic Trust

Atlantic Trust is one of the nation's leading private wealth management firms, offering integrated wealth management for high net worth individuals, families, foundations and endowments. The firm considers clients' financial, trust, estate planning and philanthropic needs in developing customized asset allocation and investment management solutions. Experienced professionals deliver a broad range of solutions, including proprietary investment offerings and a robust open architecture platform of traditional and alternative managers. Atlantic Trust operates in 12 full-service locations throughout the U.S. with $22.8 billion in assets under management (as of September 30, 2013). The firm is the private wealth management division of Invesco Ltd. (NYSE: IVZ). On April 11, 2013, CIBC—Canadian Imperial Bank of Commerce —a leading global financial institution, entered into an agreement to acquire Atlantic Trust from Invesco. For more information, visit www.atlantictrust.com.

About Invesco Ltd.

Invesco Ltd. is a leading independent global investment management firm, dedicated to helping investors worldwide achieve their financial objectives. By delivering the combined power of our distinctive investment management capabilities, Invesco provides a wide range of investment strategies and vehicles to our clients around the world. Operating in more than 20 countries, the firm is listed on the New York Stock Exchange under the symbol IVZ. Additional information is available at www.invesco.com.

SOURCE Atlantic Trust

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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