Top wealth management firms of November 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 name | Minimum account size | AUM | Parent firm | City | State | |
|---|---|---|---|---|---|---|
| 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
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.
Sales Director
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.