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Top 10 Wealth Management Firms in US

Wealth management is a practice more commonly employed by high net worth and ultra-high net worth individual investors to manage their assets. For that, they seek a professional who can help them with making well-informed decisions to grow their wealth over time while minimizing investment risks.

Thankfully, the top private wealth management firms assists investors to achieve their financial goals through effective investment strategies. However, with so many firms to choose from, it might seem like a daunting task to pick the right one. If you are looking for the top wealth management firms in the U.S., look no further than this guide. We have created a list of top 10 wealth management firms in the U.S. considering the value of client assets under management and net income as of June 30, 2020.

1. Morgan Stanley

With $1.24 trillion in assets under management, Morgan Stanley ranks third in the U.S. With consistent growth in wealth management pre-tax profits, Morgan Stanley earns the trust of around 4 million clients.

2. Bank of America

Next to the list is Bank of America’s Global Wealth and Investment Management division with $1.22 trillion in assets under management. Its Merrill Lynch Wealth Management segment serves high net worth clients, while its Private Bank caters to ultra-high net worth clients.

3. J.P. Morgan

Designated as the largest bank in the U.S., J.P. Morgan Private Bank ranks third in the list with over $677 billion of assets under management. Its pre-tax profits from wealth management services amount to $1.5 billion.

4. Goldman Sachs

Goldman Sachs is the fourth-largest private wealth management firm in the U.S. with $558 billion in assets under management. To take its services, clients must have a minimum of $10 million in their assets.

5. Charles Schwab

One of the leading U.S. banking institutions, Charles Schwab with $506.3 billion in assets under management places fifth on the list. The company has registered significant growth in its net income and net revenue largely due to increases in asset management.

6. Citi Private Bank

Known for helping ultra-high net worth individual clients, Citi Private Bank acquires the sixth spot on the list with $500 billion in assets under management. The bank’s motto is to help clients with solutions that grow and preserve their private wealth.

7. Vanguard Group

In seventh place is the Vanguard Group with $410 billion in assets under management. The global investment adviser provides clients with investment management and financial advisory services.

8. Northern Trust

Northern Trust takes the eight spot with over $303.8 billion in assets under management. The company is entrusted by investors for providing a comprehensive investment strategy.

9. BNY Mellon Wealth Management

BNY Mellon Wealth Management is the ninth leading private wealth management firm with $254 billion in assets under management. The firm is dedicated to helping its clients manage their assets through its innovative tools and technology.

10. Wells Fargo

Finishing at no. 10 on the list is Wells Fargo with $224 billion in assets under management. Because of its diverse range of global wealth management solutions, the company generates billions in pre-tax profits.Best Wealth Management

Which Bank Has the Best Wealth Management?

For its sophisticated investment solutions, Bank of America is the best choice among ultra-high net worth investors to manage their substantial wealth. Besides, the bank charges a zero-maintenance fee from its members.

Who Is the Best Financial Planning Company?

The world’s largest investment firm BlackRock with its large selection of high-quality, low-cost mutual funds, exchange-traded funds such as iShares funds, and related financial services is undoubtedly the best company to seek advice on financial planning.

How do I Choose a Wealth Management Company?

Wealth Management CompanyAll wealth management firms function differently but have similar objectives. They help clients grow and protect their wealth. When it comes to choosing a company that best fits your needs, consider the below-mentioned factors:

  • Explore services offered such as estate planning
  • Analyze influence on the market
  • Investigate if they are licensed
  • Check banking partners
  • Scrutinize if they have certified professionals

Is Stifel a Good Investment Company?

Established in 1890, Stifel is a diversified global wealth management company. It specializes in providing expert financial advisory and related services to individual investors. The company has a comprehensive investment planning process to meet client needs. Also, its team of professionals skilled in advising clients on money management makes Stifel a good investment company.


We know now that the U.S. is home to some of the world’s top private wealth management firms. They use their market understanding to help the client with the best investment options. Hiring the top wealth management company is crucial to saving money on taxes and asset reporting. Hope this list helps you find the right investment management firm that can ensure the security of your assets and investment.

Margaret Epling

Margaret Epling is a financial journalist at CapitalBay.News. She is an active member of the CapitalBay.News community and is passionate about finance, technology and cryptocurrency.

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