We have studied 1,2-bis(9-anthryl)acetylene as a model compound for the characterization of the process of solvent-mediated symmetry reduction in an excited state. Thanks to the acetylenic bridge that joins the two anthracenic moieties, this system maintains minimal steric hindrance between the end chromophores in comparison with the classic 9,9'-bianthryl model compound. The acetylenic bridge also allows for significant electronic coupling across the molecule, which permits a redistribution of electron density after light absorption. Femtosecond resolved fluorescence measurements were used to determine the spectral evolution in acetonitrile and cyclohexane solutions. We observed that, for 1,2-bis(9-anthryl)acetylene, the formation of a charge transfer state occurs in a clear bimodal fashion with well separated time scales. Specifically, the evolution of the emission spectrum involves a first solvent-response mediated subpicosecond stage where the fluorescence changes from that typical of nonpolar solvents (locally excited) to an intermediate, partial charge transfer state. The second stage of the evolution into a full charge transfer state occurs with a much longer time constant of 37.3 ps. Since in this system the steric hindrance is minimized, this molecule can undergo much larger amplitude motions for the torsion between the two anthracenic moieties associated with the charge redistribution in comparison with the typical model compound 9,9'-bianthryl. Clearly, the larger range of motions of 1,2-bis(9-anthryl)acetylene gives the opportunity to study the electron transfer process with a good separation of the time scales for the formation of a partial charge transfer state, determined by the speed of solvent response, and the intramolecular changes associated with the formation of the fully equilibrated charge transfer state.