Barron's has a new list of top wealth managers. The 2009 ranking looks very different compared with last year's list, partly due to crisis-driven mergers and panicked clients' yanking money from accounts.
Don't see your firm on the list? It could be because Barron's, a sister publication to The Wall Street Journal, publisher of FINS.com, upped its definition of wealth management to cover services for accounts of $5 million or more, from $1 million or more last year. The thinking is that the business is increasingly courting the world's very wealthiest.
Below is Barron's 2009 ranking. (Compare the 2008 ranking here.)
1.Bank of America Global Wealth & Investment Management
2.Morgan Stanley Smith Barney
3.Wells Fargo & Co.
4.JPMorgan
5.Goldman Sachs
6.UBS Wealth Management
7.BNY Mellon Wealth Management
8.Northern Trust
9.Fidelity
10.Charles Schwab
11.Credit Suisse Private Banking USA
12.RBC Wealth Management
13.Bessemer Trust
14.Deutsche Bank Private Wealth Management
15.SunTrust Banks
16.Raymond James Financial
17.HSBC Private Bank
18.The Private Client Reserve at U.S. Bank
19.Harris Private Bank
20.Hirtle, Callaghan & Co.
21.PNC Wealth Management
22.Citi Private Bank
23.Glenmede
24.Barclays Wealth
25.City National Bank
26.Brown Brothers Harriman Private Wealth Management
27.Atlantic Trust Private Wealth Management
28.Veritable
29.Fiduciary Trust Company International
30.William Blair & Co.
31.Brown Advisory
32.Boston Private Wealth Management
33.Robert W. Baird
34.Thomas Weisel Partners
35.Wilmington Trust
36.Neuberger Berman
37.Legg Mason Investment Counsel
38.T. Rowe Price
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