Top wealth management firms of November 2024

1 min read by Austin Guest Last updated November 27, 2024

Uncover our list of top wealth management companies. Or, if you’d like to speak to a financial advisor, answer a few questions below, and we will match you with an expert suited to your needs.

Summary 

  • The top five wealth management companies have assets under management (AUM) of between $5.1 billion and $40.8 billion. 

  • These firms have minimum account requirements of between $2.5 million and $50 million. 

  • The top five wealth management firms include 545 Group, Jones Zafari Group, The Polk Wealth Management Group, Hollenbaugh Rukeyser Safro Williams, and The Erdmann Group.

What are the top 5 wealth management firms in the US? 

According to Forbes America’s Top Wealth Management Teams ranking, the current best five private wealth management firms, based on their various teams’ performances, are as follows: 

 Group nameMinimum account sizeAUMParent firmCityState
 Group nameMinimum account sizeAUMParent firmCityState
1The Polk Wealth Management Group$50 million$44.2BMorgan StanleyNew YorkNew York
2Jones Zafari Group$10 million$29.3BMerrillCentury CityCalifornia
3545 Group$5 million$52.4BMorgan StanleyMenlo ParkCalifornia
4Hollenbaugh Rukeyser Safro Williams$10 million$5.9BUBSNew YorkNew York
5The Erdmann Group$2.5 million$16.3BMerrillGreenwichConnecticut

1. The Polk Wealth Management Group

Based in New York City, The Polk Wealth Management Group focuses on ultra-high-net-worth individuals with a minimum account size of $50 million. Managing $44.2 billion in assets, they offer bespoke wealth planning, tax strategies, and philanthropic management.

The Polk Wealth Management Group
Clientele: Ultra-high-net-worth individuals, their families, foundations, and businesses.

Parent firm:

Morgan Stanley Private Wealth Management 

Head office:

New York, New York 

Minimum account size:

$50 million 

AUM:

$44.2 billion 

Learn more about Morgan Stanley Private Wealth Management
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2. Jones Zafari Group

Headquartered in Century City, California, the Jones Zafari Group manages $29.3 billion in assets for ultra-high-net-worth individuals, endowments, and institutions. Their services include trust and estate planning, philanthropic advice, and liability reduction strategies.

Jones Zafari Group
Clientele: Ultra-high-net-worth individuals, endowments, foundations, and institutions.

Parent firm:

Merrill Private Wealth Management 

Head office:

Century City, California 

Minimum account size:

$10 million 

AUM:

$29.3 billion 

Learn more about Merrill Private Wealth Management
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3. 545 Group

The 545 Group is a top-rated private wealth management firm based in Menlo Park, California. The team specializes in catering to private investors, family offices, and entrepreneurs and, as of writing, manages $52.4 billion in assets. Included in the services they offer are pre-liquidity planning, risk management, and family governance.

545 Group
Clientele: Private investors, highly accomplished entrepreneurs, family offices, and multi-generational families.

Parent firm:

Morgan Stanley Private Wealth Management 

Head office:

Menlo Park, California 

Minimum account size:

$5 million 

Assets under management (AUM):

$52.4 billion

Learn more about Morgan Stanley
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4. Hollenbaugh Rukeyser Safro Williams

Operating out of New York, this UBS Private Wealth Management team handles $5.9 billion in assets. They provide personalized investment management, education planning, and workplace wealth solutions for high-net-worth clients and foundations.

Hollenbaugh Rukeyser Safro Williams
Clientele: A select group of highly successful individuals, entrepreneurs, business owners, hedge funds, private equity principals, endowments, and foundations.

Parent firm:

UBS Private Wealth Management 

Head office:

New York, New York 

Minimum account size:

$10 million 

AUM:

$5.9 billion 

Learn more about UBS Private Wealth Management
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5. The Erdmann Group

Located in Greenwich, Connecticut, The Erdmann Group specializes in retirement planning, executive services, and estate management. With $16.3 billion in AUM, they serve corporate executives and high-net-worth families.

The Erdmann Group
Clientele: Business owners, corporate executives, and high-net-worth families.

Parent firm:

Merrill Private Wealth Management 

Head office:

Greenwich, Connecticut 

Minimum account size:

$2.5 million 

AUM:

$16.3 billion

Learn more about Merrill Private Wealth Management
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What is a wealth management firm? 

A wealth management firm is typically a cross-disciplinary financial advisory team that operates within a greater financial advisory firm.  

For example, the 545 Group is a private wealth management team that operates within the Morgan Stanley Private Wealth Management firm.

Wealth management encompasses investment advice, estate planning, tax planning, risk management, retirement planning, and more. They assist clients in preserving and increasing their wealth.  

American wealth advisors typically serve clients with high and even ultra-high net worth. Such individuals require these services because financial management becomes increasingly complicated as wealth grows. 

What does a wealth advisor do? 

Within a wealth management firm, a financial advisor may also be referred to as a wealth advisor or wealth manager. 

Wealth advisors familiarize themselves with their clients’ financial situations and goals in order to provide a customized service.

Depending on the client, an American wealth advisor may offer one or more of the following services: 

  • Comprehensive financial planning 

  • Investment advice and portfolio management 

  • Financial risk assessment and management 

  • Legal advice surrounding finances 

  • Insurance advice and planning 

  • Tax consulting and accounting services 

  • Trust, legacy, and estate planning 

  • Insurance planning 

  • Charitable giving 

  • Retirement planning 

Finding the right wealth management firms: what to look for 

Before you settle on the best wealth management firm for you, you should investigate the following elements of their operations: 

  • Fees: Does the firm in question take compensation in line with your best interest? In this regard, it is important to be on the lookout for conflicts of interest within the firm’s compensation structure

  • Experience and capabilities: Does this wealth management firm have the expertise and knowledge to tend adequately to your financial interests?  

  • Resources: Does this firm have the means necessary to cope with your wealth management needs?  

  • Historical performance: Has the firm yielded consistently strong results with regard to wealth and portfolio management over a substantial period? 

  • Sustainability: Is your chosen firm positioned to continue to support and guide you for the rest of your life? 

How to manage your wealth 

Leading wealth management firms help the ultra-wealthy manage their complex financial situations.  

Wealth advisors work in multi-disciplinary teams to offer a comprehensive suite of financial and related services. 

Whether you are a high-net-worth individual or not, it is important to get expert financial advice to help protect and grow your money.  

Let Unbiased match you with a financial advisor who understands your unique needs and goals and can help you grow your wealth. 

Connect with a financial advisor today.

Sales Director

Austin Guest

Austin is a Sales Director working at Unbiased, helping advisors solve consumer's financial problems. After a successful career working as a Financial Advisor at Waddell & Reed for 7 years, plus a 2 year role at SmartAsset, Austin joined Unbiased to bring his extensive industry expertise to the team.