FINSwire Oct 22 2009

Who's Tops in Wealth Management

By laura lorber

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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