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Top Wealth Management Firms in the World

  • Bhumika Dutta
  • Aug 13, 2021
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Money is an asset in the world that determines the power and position of any person to a certain extent. If a person has got some money, he/she should always plan on saving it or managing it wisely instead of being a spendthrift. 


If a person has got a huge amount of wealth, it becomes very important for them to manage it, otherwise, it might be very hard for them to keep tabs on their income and expenses. 


Most of the wealthy people consider taking help from firms that specialize in wealth management. These wealth management companies update the owner about market trends and advise them about different investments in shares that they could make in order to experience profit. 


As a result, wealth management today is about more than just increasing people's current wealth; it's about overtaking in intricacy and breadth, generating high returns, providing tailored services, and promising to meet everyone's needs. In this article, we have listed 10 popular Asset Management Companies (AMC) that have expertise in the field according to the ranking of Assets Under Management (AUM).


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Top 10 Wealth Management Firms


According to Investopedia, the following are the top 10 AMCs according to their AUM rankings as of June 30, 2020: 


  1. UBS Wealth Management


The AMC that has been ranked number one in the list is UBS Wealth Management company. This investment company is a swiss multinational investment bank established in Switzerland with $2.6 trillion in AUM. UBS has its branches in almost 50 countries and operates from all the major financial centers of the world, with over 280 branches in the U.S. itself! 


The company has professional financial advisors who offer planning, investing, and banking services along with private wealth management services for individuals. 


Financial wellness, retirement plan services, equity plan services, institutional consultancy, and workplace insights are all areas where UBS financial advisers may assist corporations and organizations. It is commonly recognized as a member of the bulge bracket banks, which are the world's largest multinational investment banks, with significant businesses, institutional investors, and governments as investment banking customers.


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  1. Credit Suisse:


With $1.25 trillion in AUM, Credit Suisse is another Swiss company that is ranked second in the lists of AMCs. It was founded in 1856 with the intention of funding the development of Switzerland’s rail system. 

In 2002, 2004, and 2006, the firm reorganized itself, and throughout the global financial crisis, it was one of the least impacted banks. Boston, Chicago, Houston, Los Angeles, New York, and San Francisco were among the company's investment banking branches.


Credit Suisse offers preservation of wealth, accumulating or transferring it as some of their wealth management services. Credit Suisse stated in January 2015 that it will be discontinuing its private banking and wealth management services in the United States. In the same year, the firm sold its wealth management division in the United States to Wells Fargo.


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  1. Morgan Stanley Wealth Management


Morgan Stanley Wealth Management has received the third position in the list of AUM with $1.24 trillion. This company has 250 advisory firms with the goal of helping the growth of their clients in financial, family, and social capital. It has more than 15,600 wealth managers in approximately 600 branches in the United States and functions in all the 50 states and Washington D.C. 


According to Wealth professionals, Morgan Stanley launched Morgan Stanley Wealth Management Canada, expanding on the basis of its Shareworks by Morgan Stanley division. 



  1. Bank of America Global Wealth and Investment Management


With $1.22 trillion in AUM, Bank of America Global Wealth and Investment Management is ranked fourth on the list. It was founded in 1998 through NationsBank’s acquisition. It is the United States' second-largest financial institution, behind JPMorgan Chase, and the world's 8th largest bank. They focus mainly on two types of clients, clients having total investable assets of more than $250,000, as well as high-net-worth individuals for whom Bank of America may provide complete wealth management solutions. 


Individuals and families can use Bank of America's investment management services. Portfolio management, access to capital markets, specialist asset management, and sustainable and impact investment are among the company's services.


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  1. J.P. Morgan Private Bank:


J.P. Morgan Private Bank ranks fifth in the list with $667 billion in AUM. J.P. Morgan's advisors, strategists, and investors assist clients in developing customized financial strategies and achieving their objectives. Advisors, strategists, and investors at J.P. Morgan help customers build customized financial plans and achieve their goals.



  1. Goldman Sachs:


Goldman Sachs has been ranked sixth on the list with $558 billion in AUM. It has about 500 wealth managers working in 13 branches. Clients engage with Goldman Sachs' private wealth management teams to choose from a wide range of investment vehicles, including cash, fixed income, and stocks, as well as a variety of alternative products including private equity and hedge funds


Individuals can get asset allocation and portfolio diversification advice from Goldman Sachs' Investment Strategy Group (ISG). The Wealth Advisory Group of the firm may also help customers with estate planning, gift planning, generation-skipping tax planning, and philanthropy.


  1. Charles Schwab:


Charles Schwab was established in 1971 as Charles Schwab & Co. and the company benefited from the 1970s financial liberalization to pioneer cheap equity securities offerings. According to WP, in 1983, it was purchased by the Bank of America for $55 million. It is ranked seventh in the list of AMCs with $506.3 billion in AUM and has over 2000 wealth managers in 345 U.S branch offices. 


The company provides wealth management services through a team of advisors known as Schwab Private Client. Individual customers' retirement income planning, estate planning, and insurance needs are all taken into account by these advisers. A client's portfolio is also monitored by a dedicated member of their team, who makes modifications when the market changes.



  1. Citi Private Bank:


Ranked eighth in the list of the World’s wealth management companies, Citi private bank has $500 billion in AUM. Professional investors, rich people, family offices, and attorneys and legal companies can all benefit from its services. 


Citi maintains a high advisor-to-client ratio to guarantee that each client's portfolio receives the attention it deserves. They create tailored investment strategies and provide worldwide banking and investing services to entrepreneurs, high-net-worth individuals, sophisticated investors, over a thousand family offices, and the legal profession. 


Citi Private accounts need a net worth of at least $25 million and are available in 60 locations across 23 countries. For law firm clients and qualifying high-net-worth people, this fee is waived.



  1. BNP Paribas Wealth Management:


With $424 billion in AUM, BNP Paribas Wealth Management is a French international banking group that is ranked ninth on the list. It is the world's seventh-largest bank in terms of total assets and Europe's largest bank, with operations in 72 countries. 


Following the 2008 financial crisis, it rose to become one of the world's top five banks. BNP Paribas' Wealth Management experience involves constructing a portfolio that is tailored to a client's long-term objectives. 


The firm's investment strategists can help you manage, diversify, or customize your financial portfolio, as well as offer advice on a variety of options.


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  1. Julius Baer:


With $423.5 billion in AUM, Julius Baer is ranked tenth in the list of Asset Management Companies. It is a traditional private bank named after Swiss Banker Julius Bar. It is located in 28 counties and the majority of its income comes from commissions and service fees. 


Julius Baer has a global workforce of approximately 6,700 people. Private clientele from all around the world entrusts their valuables to the organization. Julius Baer advisors, in collaboration with a large network of external specialists, offer a comprehensive approach to wealth management, including financial planning, asset structuring, retirement, taxes succession, relocation, and charity. This private bank is mainly known for its banking secrecy and bank-client confidentiality.


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When it comes to a huge amount of assets and money, it becomes very important for a person to research about different companies that can cater to his/her needs and choose the one that he/she finds the most suitable. 


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At the same time, it is very essential to hand over one’s assets to only trustworthy companies which can assure the safety of one’s money. In this article, we have listed 10 such top Asset Management Companies that expertise in financial management and have many satisfied clients.

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