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 name | Minimum account size | AUM | Parent firm | City | State | |
|---|---|---|---|---|---|---|
| 1 | The Polk Wealth Management Group | $50 million | $44.2B | Morgan Stanley | New York | New York |
| 2 | Jones Zafari Group | $10 million | $29.3B | Merrill | Century City | California |
| 3 | 545 Group | $5 million | $52.4B | Morgan Stanley | Menlo Park | California |
| 4 | Hollenbaugh Rukeyser Safro Williams | $10 million | $5.9B | UBS | New York | New York |
| 5 | The Erdmann Group | $2.5 million | $16.3B | Merrill | Greenwich | Connecticut |
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.
Parent firm:
Morgan Stanley Private Wealth Management
Head office:
New York, New York
Minimum account size:
$50 million
AUM:
$44.2 billion
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.
Parent firm:
Merrill Private Wealth Management
Head office:
Century City, California
Minimum account size:
$10 million
AUM:
$29.3 billion
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.
Parent firm:
Morgan Stanley Private Wealth Management
Head office:
Menlo Park, California
Minimum account size:
$5 million
Assets under management (AUM):
$52.4 billion
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.
Parent firm:
UBS Private Wealth Management
Head office:
New York, New York
Minimum account size:
$10 million
AUM:
$5.9 billion
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.
Parent firm:
Merrill Private Wealth Management
Head office:
Greenwich, Connecticut
Minimum account size:
$2.5 million
AUM:
$16.3 billion
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
Who are the top 50 ranked wealth management firms?
The most prestigious wealth management firms offer tailored investment strategies, estate planning, and wealth preservation to help clients manage and grow their wealth.
Here’s a look at the top 50 wealth management firms in the US, detailing their minimum investment requirements, assets under management (AUM), locations, and parent firms.
| Ranking | Name | Minimum investment requirement | Total assets under management (AUM) | Location | Parent firm | |
|---|---|---|---|---|---|---|
| 1 | The Polk Wealth Management Group | $50M | $44.2B | New York, NY | Morgan Stanley Private Wealth Management | |
| 2 | Jones Zafari Group | $10M | $29.3B | Century City, CA | Merrill Private Wealth Management | |
| 3 | 545 Group | $5M | $52.4B | Menlo Park, CA | Morgan Stanley Private Wealth Management | |
| 4 | Hollenbaugh Rukeyser Safro Williams | $10M | $5.9B | New York, NY | UBS Private Wealth Management | |
| 5 | The Erdmann Group | $2.5M | $16.3B | Greenwich, CT | Merrill Private Wealth Management | |
| 6 | The Curtis Group | $3M | $442.9B | Palo Alto, CA | Graystone Consulting from Morgan Stanley | |
| 7 | Mainsail Wealth Partners | $10M | $8.1B | Los Angeles, CA | UBS Private Wealth Management | |
| 8 | Chase Group | $5M | $23.9B | Menlo Park, CA | Morgan Stanley Private Wealth Management | |
| 9 | The Valdes Group - Valdes, Shimberg, Duncan | $5M | $9.2B | Tampa, FL | Merrill Private Wealth Management | |
| 10 | The Sharma Group | $5M | $6.8B | Boston, MA | Merrill Private Wealth Management | |
| 11 | Wise River Advisors | $10M | $6.3B | Los Angeles, CA | UBS Private Wealth Management | |
| 12 | Katz Wealth Management | $0 | $5.4B | New York, NY | UBS Private Wealth Management | |
| 13 | Fowler Bull Group | $10M | $14.7B | Denver, CO | Morgan Stanley Private Wealth Management | |
| 14 | Burrows Strzelecki Group | $5M | $36.8B | Garden City, NY | Morgan Stanley Private Wealth Management | |
| 15 | Firring Private Wealth Group | $10M | $2.2B | Beverly Hills, CA | Wells Fargo Advisors | |
| 16 | The Rohr Group | $10M | $6.3B | Wayne, PA | Merrill Private Wealth Management | |
| 17 | The Stackman | Casriel Group | $25M | $9.5B | New York, NY | UBS Private Wealth Management | |
| 18 | Private Executive Services | $10M | $20.9B | New York, NY | Merrill Private Wealth Management | |
| 19 | Team Global | $5M | $13.8B | New York, NY | Morgan Stanley Private Wealth Management | |
| 20 | Epstein Partners | $10M | $4.7B | New York, NY | UBS Private Wealth Management | |
| 21 | Capitol Wealth Management Group | $5M | $6.5B | Washington, DC | Morgan Stanley Private Wealth Management | |
| 22 | Fratarcangeli Wealth Management | $5M | $3.3B | Bloomfield Hills, MI | Thurston Springer Financial | |
| 23 | The Chiavacci Beckerman Group | $25M | $3.5B | Coral Gables, FL | Merrill Private Wealth Management | |
| 24 | Griepp Jones Palmer Group | $10M | $14.5B | San Francisco, CA | Morgan Stanley Private Wealth Management | |
| 25 | Errico Partners | $2M | $4.5B | New York, NY | UBS Wealth Management | |
| 26 | The Westmoreland Group | $2.5M | $5.1B | Atlanta, GA | Merrill Private Wealth Management | |
| 27 | The O'Callaghan Thomas Group | $25M | $3.2B | New York, NY | J.P. Morgan Wealth Management | |
| 28 | Zager Fixed Income Management | $5M | $16.2B | Los Angeles, CA | Morgan Stanley Private Wealth Management | |
| 29 | Corbellini, Emanuelson, Kalyandurg & Associates | $10M | $5.8B | Dallas, TX | Merrill Private Wealth Management | |
| 30 | The Cultra Wealth Management Group | $5M | $5.3B | Chicago, IL | William Blair | |
| 30 | The Cultra Wealth Management Group | $5M | $5.3B | Chicago, IL | William Blair | |
| 31 | Young & Associates | $5M | $1.8B | Los Gatos, CA | Rockefeller Capital Management | |
| 32 | Legacy Multi-Family Group | $10M | $3.2B | Los Angeles, CA | UBS Private Wealth Management | |
| 33 | Carlin Wealth Management | $20M | $6B | Coral Gables, FL | Morgan Stanley Private Wealth Management | |
| 34 | Montage Financial Group | $5M | $6B | Denver, CO | UBS Wealth Management | |
| 35 | The Vinder Group | $20M | $6.2B | New York, NY | Morgan Stanley Private Wealth Management | |
| 36 | The Phil Scott Group | $10M | $3.5B | Bellevue, WA | J.P. Morgan Wealth Management | |
| 37 | The Hansberger Group | $5M | $3.1B | Atlanta, GA | Morgan Stanley Private Wealth Management | |
| 38 | The Degenaars Babb Group | $5M | $5.6B | New York, NY | J.P. Morgan Wealth Management | |
| 39 | The Livingstone Condron Team | $10M | $7.5B | Boston, MA | Morgan Stanley Private Wealth Management | |
| 40 | Heritage Wealth Advisors | $500K | $4.4B | Mercer Island, WA | Ameriprise Financial Services | |
| 41 | The Magellan Group | $5M | $4.1B | New York, NY | Morgan Stanley Private Wealth Management | |
| 42 | IFC Advisors | $10M | $2.4B | Los Angeles, CA | First Clearing | |
| 43 | Flagship Financial Partners | $1M | $12.4B | Stamford, CT | UBS Private Wealth Management | |
| 44 | Munster Freeman Group | $10M | $3.7B | Century City, CA | Merrill Private Wealth Management | |
| 45 | The Halbfinger Group | $5M | $4.6B | New York, NY | UBS Private Wealth Management | |
| 46 | The Continuum Group | $10M | $6.8B | New York, NY | Morgan Stanley Wealth Management | |
| 47 | The Evelo|Singer|Sullivan|Bruegge Group | $5M | $8.1B | Cincinnati, OH | Merrill Private Wealth Management | |
| 48 | The Princi Group | $5M | $7.6B | Boston, MA | Graystone Consulting from Morgan Stanley | |
| 49 | Wickham Cash Partners | $4M | $23.6B | Charlotte, NC | UBS Private Wealth Management | |
| 50 | The Sawyer Group | $25M | $5.8B | Miami, FL | Morgan Stanley Private Wealth Management |
Source: Forbes
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 specialize in supporting the ultra-wealthy with their complex financial needs.
The best wealth advisors form multi-disciplinary teams to provide a comprehensive range of financial and related services.
Whether you're a high-net-worth individual or not, obtaining expert financial advice is essential for protecting and growing your money.
Let Unbiased match you with an expert financial advisor who understands your unique needs and goals and can help you grow your wealth.