Do dimensions matter? Although it varies on who you ask, there’s no denying that a firm’s assets under management (AUM) can frequently signify its capacity to draw wealthy clients.
The top ten investment management companies are shown below according to assets and net income.
UBS Wealth Management has an AUM of $2.6 trillion.
The biggest dog in town.
UBS is a Swiss business with operations in more than 50 nations with 286 branch offices in the United States. UBS Wealth Management Canada requires a minimum of CAD$2 million to open a managed account. It has considerable experience working with many individuals, families, business owners, and executives.
The world’s most significant international investment banks, including UBS, often serve huge enterprises, institutional investors, and governments as their investment banking clients. This group is known as the bulge bracket banks.
Credit Suisse ($1.25 trillion)
Another Swiss corporation, no certainly with exquisite chocolate and posh watches in the headquarters. Of course, I’m joking.
It was established in 1856 to fund the expansion of Switzerland’s rail network and currently belongs to the bulge bracket. Solutions for wealth management may involve preserving, building up, or transferring wealth.
The business underwent restructuring in 2002, 2004 and 2006, and it was one of the banks least impacted by the global financial crisis. But soon after, it started slashing costs, laying off employees, and downsizing its investment division. In addition, it announced in January 2015 that it would stop offering private banking and wealth management in the United States and transfer its U.S. wealth business to Wells Fargo in the same year.
Morgan Stanley Wealth Management (1.24 trillion dollars)
Morgan Stanley has 250 consulting businesses dedicated to assisting clients in increasing their social, familial, and financial capital. It has almost 600 branches and more than 15,600 wealth managers in the United States. Unquestionably, another bulging member.
According to WP’s 2020 report, Morgan Stanley launched Morgan Stanley Wealth Management Canada by extending its operations into Canada and based on the success of Shareworks by Morgan Stanley.
BAC Global Wealth & Investment Management $1.22 trillion
Bank of America’s investment business concentrates on two clients: high-net-worth individuals for whom Bank of America may offer complete wealth management solutions and those with investable assets totalling over $250,000. It has 750 branches and more than 20,000 money managers.
Bank of America, an absolute behemoth (and bulge bracket), was created in 1998 after NationsBank purchased BankAmerica. It is the eighth-largest bank in the world and the second-largest bank in the United States, behind JPMorgan Chase.
Private Bank of J.P. Morgan (677 billion dollars)
J.P. Morgan’s strategists, investors, and advisors assist clients in developing personalized financial strategies and achieving their objectives. A global force (and member of the BULGE), it asks: When is a private bank appropriate for you? Simply put, the likelihood that you and your family will benefit from the amount of care and access an actual private bank can provide increases with your level of wealth. Your financial situation is more complicated, and you may have more opportunities and hazards. Even an experienced investor can benefit from the knowledge, resources, and connections a top-notch private bank can offer.
Goldman Sachs (558 billion dollars)
A name that is synonymous with Wall Street and the former workplace of Mark Carney, a former governor of the Bank of Canada and the Bank of England. Its clients choose investment vehicles from across the entire asset spectrum, including cash, fixed income, and equities, as well as various alternative products, including private equity and hedge funds, with the help of remote wealth management teams.
Charles Schwab (worth $506.3 billion)
Charles R. Schwab, the company’s namesake, established it as Charles Schwab & Co. in 1971. The business took advantage of the financial deregulation of the decade to become a pioneer in discount equity securities sales. The bank’s efforts in technology, automation, and digital recordkeeping were made possible by the economic boom of the 1980s. It was the first to provide 24-hour order entry and quote, and Bank of America bought it in 1983 for $55 million. Three years later, the founder decided to repurchase his business for $280 million due to the success of the bank’s free mutual funds.
Charles Schwab has a group of advisers known as Schwab Private Clients that provide wealth management services. The experts take each client’s retirement income planning, estate planning, and insurance needs. The business has over 345 U.S. branch offices and over 2,000 wealth managers.
Citi Private Bank (capitalization of $500 billion)
Professional investors, wealthy individuals, family offices, lawyers, and law firms can all benefit from the services provided by Citi Private Bank. Its self-described selling point is that it keeps a very high advisor-to-client ratio to guarantee that every client’s portfolio receives the care it requires.
A net worth of at least $25 million is required to be eligible for a Citi Private account, which has 60 offices across 23 nations. Clients of law firms and qualified high-net-worth individuals are exempt from this.
BNP Paribas Wealth Management (424 billion dollars)
French multinational banking group BNP Paribas. It presently conducts business in 72 countries, making it the sixth-largest bank in the world with its total number of assets and the largest bank in Europe. After the 2008 financial crisis, it ranked among the top five banks globally.
Its wealth management section is a well-known service provider for corporate and institutional clients.
Julius Baer ($423.5 billion)
The primary sources of income are commissions and service fees. Julius Bär, a Swiss banker, was the inspiration for the name of this classic private bank. It has 28 countries and is renowned for maintaining client and financial confidentiality. Julius Bär handles assets for private clients worldwide and has more than 6,600 employees worldwide.
