Top 10 Best Wealth Management Firms

Some of the world’s top 10 best wealth management firms that are competently effecting the expected financial changes into industries of various kinds have stood to become luminaries in the global financial market. Wealth management firms are focused on providing services to a wide array of clients ranging from affluent to high-net-worth (HNW) and ultra-high-net-worth (UHNW) individuals and families. It is a discipline which incorporates structuring and planning wealth to assist in growing, preserving, and protecting wealth.

In the late 1980s, private banks and brokerage firms began to offer seminars and client events designed to showcase the expertise and capabilities of the sponsoring firm. Within a few years a new business model emerged – Family Office Exchange in 1990, the Institute for Private Investors in 1991, and CCC Alliance in 1995. Their aim is to offer an online community as well as a network of peers for ultra high-net-worth individuals and their families. These entities have grown since the 1990s, with total IT spending (for example) by the global wealth management industry predicted to reach $35bn by 2016, including heavy investment in digital channels.

Consistently, according to Euromoney’s annual private banking and wealth management ranking 2013, which consider (amongst other factors) assets under management, net income and net new assets, global private banking assets under management grew just 10.8%YoY (compared with 16.7% ten years ago).

Top 10 Best Wealth Management Firms

Below are the top 10 best wealth management firms which you can rate as one of the most profit-making enterprise in the world:


AUM: $2.6 trillion

UBS is widely regarded as a member of the bulge bracket banks, which comprises the world’s largest multi-national investment banks whose investment banking clients are usually large corporations, institutional investors and governments.

UBS is no doubt the top dog by size and fortune. A Swiss company, UBS operates in more than 50 countries and has 286 branch locations in the U.S. UBS Wealth Management Canada requires a minimum of CAD$2 million to open a managed account and offers extensive experience managing the wealth of individuals, families, entrepreneurs and executives.

Credit Suisse

AUD: $1.25 trillion

Another Swiss company, whose offices are no doubt filled with fancy watches and nice chocolate. Joking, of course.

Founded in 1856 to fund the development of Switzerland’s rail system, it’s now another member of the bulge bracket. Wealth management solutions include preserving, accumulating, or transferring wealth.

The company restructured itself in 2002, 2004 and 2006, and was one of the least affected banks during the global financial crisis. However, afterwards it began shrinking its investment business, executing layoffs and cutting cost. In January 2015, it announced that it would be exiting its private banking and wealth management services in the U.S., offloading its U.S. wealth business to Wells Fargo in the same year.

Morgan Stanley

AUD: $1.24 trillion

Morgan Stanley has 250 advisory firms that are committed to helping clients grow their financial, family, and social capital. In the U.S. it has more than 15,600 wealth managers in nearly 600 branches.

Morgan Stanley expanded into Canada, building on the foundations of its Shareworks by Morgan Stanley operation to launch Morgan Stanley Wealth Management Canada. Given its very expanded tentacles, this great firm is counted among the top 10 best wealth management firms.

Bank of America Global

AUD: $1.22 trillion

Bank of America’s investment division focuses on two types of clients: people with over $250,000 in total investable assets, and high-net-worth individuals for whom Bank of America can provide comprehensive wealth management solutions. It has more than 20,000 wealth managers in 750 branches.

A true behemoth (and bulge bracket), Bank of America was formed through NationsBank’s acquisition of BankAmerica in 1998. It is the second-largest banking institution in the United States, after JPMorgan Chase, and the eighth largest bank in the world.

J.P. Morgan Private Bank

AUD: $677 billion

The J. P Morgan private bank is a wealth management firm which concentrates on building and helping companies and businesses. Advisors, strategists, and investors at J.P. Morgan help individuals create custom financial plans and help achieve those goals. It is one of the top 10 best wealth management firms which you can consult for efficiency in the runnings of your finances.

Goldman Sachs

AUD: $558 billion

A name synonymous with Wall Street – and former employer of ex-Bank of Canada and Bank of England governor Mark Carney. Its clients work with private wealth management teams to select from investment vehicles covering the entire asset spectrum — including cash, fixed income and equities, as well as a range of alternative offerings such as private equity and hedge funds.

Charles Schwab

AUD: $506.3 billion

Founded as Charles Schwab & Co. in 1971 by its namesake Charles R. Schwab, the company capitalized on the financial deregulation of the 1970s to pioneer discount sales of equity securities. The 1980s economic expansion financed the bank’s investments in technology, automation, and digital record keeping. The first to offer round-clock order entry and quotation, it was purchased by Bank of America in 1983 for $55 million. Three years later, the profitability of the bank’s no-charge mutual funds prompted the founder to buy his company back for $280 million.

Charles Schwab offers wealth management services through an entire team of advisors, called Schwab Private Client. These advisors consider individual clients’ retirement income planning, estate planning, and insurance needs. The company employs over 2,000 wealth managers and has over 345 U.S. branch offices.

Citi Private Bank

AUD: $500 billion

Citi Private Bank offers services for professional investors, wealthy individuals, family offices, and lawyers and law firms. Its self-proclaimed calling card is that it maintains an extremely high ratio of advisors to ensure that every client’s portfolio gets the attention it needs. It has 60 offices in 23 countries and to qualify for a Citi Private account, one must have a net worth of at least $25 million. This is waived for law firm clients and qualified high-net-worth individuals.

Deutsche Bank

AUD: $420 billion

Deutsche bank is one of the most reliable among the top 10 best wealth management firms in the world. Founded in 1870, Frankfurt-based Deutsche Bank has been a major name in international banking for a very long time. As is true for many other major banks, its offerings for high net worth clients include private banking and wealth management.

Wells Fargo

AUD: $210 billion

Wells Fargo offers diverse wealth management services. For 2021, Wells Fargo’s wealth and investment management business segment reported net income of over $2 billion, which represents around 9% of the the firm’s total $21.5 billion net income for the year. When Wells Fargo received the blessing of the FDIC to acquire Wachovia’s banking operation (in 2008) it made Wells Fargo a major national player in securities brokerage. At the end of 2021, Wells Fargo’s financial and wealth advisor count stood at 12,367.

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