Barron's Top 20 Global Wealth Managers 2009
Cautious investors still find it difficult to know who to trust with their assets, and this year has seen a mass decamping of client assets to more trusted advisers.
US publication Barron's this week compiled a definitive ranking of US wealth manager accounts of $5M and above, showing the main beneficiaries of the asset flux.
Below are the top 20 biggest wealth managers from the list. Assets listed are in billions as of 6/30/09. The account sizes are up from $1 million-plus in previous Barron’s rankings, to reflect the industry’s increased emphasis on the very wealthy.
Big mergers, like Bank of America’s with Merrill Lynch, contributed to a reshuffling of the ranks.
1 Bank of America Global Wealth and Investment Management $685.0
2 Morgan Stanley Smith Barney 482.0
3 Wells Fargo and Co. 374.9
4 J.P. Morgan 350.0
5 Goldman Sachs (Global total, U.S. total not available) 215.0
6 UBS Wealth Management 219.6
7 BNY Mellon Wealth Management 113.7
8 Northern Trust 111.3
9 Fidelity 109.0
10 Charles Schwab 82.3
11 Credit Suisse Private Banking U.S.A. 63.0
12 RBC Wealth Management 55.5
13 Bessemer Trust 53.0
14 Deutsche Bank Private Wealth Management 52.0
15 Suntrust Banks 45.1
16 Raymond James Financial 28.7
17 HSBC Private Bank 26.9
18 The Private Client Reserve at U.S. Bank 20.0
19 Harris Private Bank 19.7
20 Hirtle, Callaghan, & Co. 17.15
Click here to read the full list
- Barron's top wealth managers 2009 - Web link
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