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T op W ealTh M anagers Here are the top wealth-management businesses in the U.S.,
T op W ealTh M anagers Here are the top wealth-management businesses in the U.S.,

Top WealTh Managers Here are the top wealth-management businesses in the U.S., based on assets under management in accounts of $5 million or more, as of June 30. The account sizes are up from $1 million-plus in previous Barron’s rankings, to reflect the industry’s increased emphasis on the very wealthy. Big mergers, like Bank of America’s with Merrill Lynch, contibuted to a reshuffling of the ranks. “N.A.” means data not available. This ranking includes corrections to an earlier version.

20. Hirtle, CallagHan & Co.

rank ’08: 33

U.S. Private-Client assets: $17.15 bil

Minimum account: $10 mil Median account: N.A.

Private-Client Managers: 19

tel: 215-419-6100, Chip Wilson

e-mail: chip.wilson@glenmede.com

25. BarClayS WealtH

rank ’08: 19

U.S Private-Client assets: $13.3 bil

Website: www.veritablelp.com

tel: 610-540-2036, John Scuteri

e-mail: jscuteri@veritablelp.com

30. FidUCiary trUSt CoMPany intl

 

Clients Per Manager: 10-25

Minimum account: N.A.

rank ’08: 37

U.S. Private-Banking offices: 7

Median account: N.A.

U.S Private-Client assets: $7.0 bil

1.

BanK oF aMeriCa gloBal WealtH

70 for Private Wealth Mgmt

Minimum account: Typically $1 mil, but in some regions, $10 mil

Median account: $8 mil

Specialties: Portfolio management, securities and brokerage services, trusts, retirement ser- vices, alternative investments.

Specialties: Integrated asset management, capital allocation, sensitivity to behavioral finance, alternative and long-only investments.

Private-Client Managers: 233

Minimum account: $2 mil

& inVeStMent ManageMent (including Merrill Lynch and U.S. Trust)

U.S. Private-Banking offices: 86

Private-Client Managers: 2,173

Clients Per Manager: N.A.

Median account: $10.3 mil

Specialties: Disciplined risk-adjusted portfolio construction, thematic trading and alternative investment opportunities, trust and estates planning, banking services, and balance-sheet lending/advisory.

Median account: N.A.

Clients Per Manager: N.A.

U.S. Private-Banking offices: 12

Private-Client Managers: 30

rank ’08: 3 (BofA/U.S. Trust), 1 (Merrill)

Private-Client Managers: N.A.

U.S. Private-Banking offices: 213

Website: www.raymondjames.com/wealth- management

Website: www.hirtlecallaghan.com

Specialties: Portfolio advisory, wealth advisory, credit and lending, alternative investments.

Clients Per Manager: 51

U.S. Private-Client assets: $685 bil

Clients Per Manager: N.A.

Specialties: Investment advisory services, retirement services, lending, trust and estate planning.

tel: 610-828-7200, Jonathan Hirtle

U.S. Private-Banking offices: 6

Minimum account: N.A.

U.S. Private-Client offices: 82 offices in

tel: 800-248-8863 ext. 76345, Patrick O’Connor

e-mail: inquiries@hirtlecallaghan.com

Website: www.barclayswealthamericas.com

Specialties: Investment management, strategic wealth planning, trust and estate administration, tax reporting and services, master custody, and private banking.

Median account: N.A.

18 states

tel: 866-954-7904, Jack Petersen

Private-Client Managers: 18,976

Website: www.jpmorgan.com/privatebanking

Specialties: Financial planning, investment management, trust services, wealth and estate planning, private banking and family office services.

Website: www.rbcwm-usa.com

e-mail: wealthsolutions@raymondjames.com

e-mail: inquiries@barclayswealthamericas.com

Clients Per Manager: N.A.

tel: 212-464-1088, Catherine Keating

tel: 612-371-2711

21.

WilMington trUSt

Website: www.fiduciarytrust.com

U.S. Private-Banking offices: 871

e-mail: catherine.keating@jpmorgan.com

 

rank ’08: 27

 

tel: 877-384-1111, Luke Fowler

Specialties: Trust services, wealth structuring, credit, concentrated stock, investment and asset management, personal and institutional retirement, philanthropy, tax and estate plan- ning, and family-office services.

 

17.

HSBC PriVate BanK

U.S Private-Client assets: $17.1 bil

26.

City national BanK

e-mail: lfowler@ftci.com

Website: www.northerntrust.com

13.

BeSSeMer trUSt

rank ’08: 24

Minimum account: $3 mil

rank ’08: 31

5.

UBS WealtH ManageMent

tel: 312-630-6000, James Rauh

rank ’08: 20

U.S. Private-Client assets: $26.9 bil

Median account: N.A.

U.S Private-Client assets: $12.4 bil

rank ’08: 6

U.S. Private-Client assets: $53 bil

Minimum account: $5 mil

Private-Client Managers: 60

Minimum account: $1 mil

31.

WilliaM Blair & Co.

U.S. Private-Client assets: $219.6 bil

Minimum account: $10 mil

Median account: $55.8 mil

Clients Per Manager: 50

Median account: $9.8 mil

rank ’08: 34

Websites: www.totalmerrill.com; www.ustrust. com; www.pbig.ml.com

Minimum account: N.A.

9. Fidelity

Median account: $10 mil

Private-Client Managers: 28

U.S. Private-Banking offices: 21

Private-Client Managers: 116

U.S Private-Client assets: $6.5 bil

Median account: N.A.

rank ’08: 8

Private-Client Managers:126

Clients Per Manager: 30-60

Specialties: Private banking, wealth planning, trustee ser- vices, investment management services.

Clients Per Manager: N.A.

Minimum account: $250,000 for brokerage, $3 mil for investment management

tel: 800-MERRILL and 800-USTRUST

Private-Client Managers: 7,584

U.S Private-Client assets: $109 bil

Clients Per Manager: 50

U.S. Private-Banking offices: 7

U.S. Private-Banking offices: 19

 

Clients Per Manager: N.A.

Minimum account: $1 mil

U.S. Private-Banking offices: 14

Specialties: Discretionary portfolio manage- ment, alternative investments, banking and liquidity management, financing, trust and fiduciary services.

Website: www.wilmingtontrust.com

Specialties: Open architecture advisory, portfolio manage- ment, fixed income brokerage, 401(k) and trust.

Median account: N.A.

U.S. Private-Banking offices: 395

Median account: N.A.

Specialties: Investment management, tax, legacy, insurance, and philanthropic planning.

tel: 302-651-1936, Mark A. Graham

Private-Client Managers: 72

2.

Morgan Stanley SMitH Barney

Specialties: Financial planning, balance-sheet management focused on investment, financial and transactional needs; ongoing reviews and market updates, open architecture access to leading products.

Private-Client Managers: 400

e-mail: mgraham@wilmingtontrust.com

Website: www.cnb.com

Clients Per Manager: N.A.

rank ’08: 5 (Morgan Stanley), N.A. (Smith Barney)

Clients Per Manager: N.A.

Website: www.bessemer.com

tel: 800-708-8881, Richard Gershen

U.S. Private-Banking offices: 1

U.S. Private-Banking offices: 131

tel: 212-708-9140, Robert C. Elliott

Website: www.hsbcprivatebank.com

e-mail: Richard.gershen@cnb.com

Specialties: Money management services, research, open architecture, multigenerational financial planning and ad- visory services; planning, advice and transactional support for family businesses and corporate executives.

U.S Private-Client assets: $482 bil

Specialties: Investment products and plan- ning, brokerage, trust, charitable services, family office services and cash management.

e-mail: Elliott@bessemer.com

tel: 212-525-0508

22.

PnC WealtH ManageMent

Minimum account: N.A.

 

(including former National city)

 

Median account: $8 mil

Website: www.ubs.com

rank ’08: 22 (PNC), and 28 (National City)

27.

BroWn BrotHerS HarriMan PriVate

Private-Client Managers: N.A.

tel: 212-821-7000, John Straus

Website: www.fidelity.com

14.

deUtSCHe BanK PriVate

18.

tHe PriVate Client reSerVe

U.S. Private-Client assets: $16.2 bil

WealtH ManageMent

Website: www.williamblair.com

Clients Per Manager: Approx. 200

tel: 800-Fidelity

WealtH ManageMent

at U.S. BanK

Minimum account: $1 mil

rank ’08: 35

tel:, 312-236-1600, or 312-364-8274, John Brennan

U.S. Private-Banking offices: 1,000

e-mail: fidelitycorporateaffairs@fmr.com

rank ’08: 14

rank ’08: 23

Median account: N.A.

U.S. Private-Client assets: $10.9 bil

e-mail: info@williamblair.com,

Specialties: Non-discretionary and discretion- ary management of equity, fixed income and alternatives, U.S. and non-U.S. portfolios; re- tirement and estate planning, asset allocation, private placements, risk management and investment banking.

6.

goldMan SaCHS

U.S. Private-Client assets: $52 bil

U.S. Private-Client assets: $20 bil

Private-Client Managers: 523

Minimum account: $ 5 mil

 

r

ank ’08: 11

 

Minimum account: N.A.

Minimum account: $1 mil

Clients Per Manager: N.A.

Median account: $ 10 mil

Private-Client assets: $215 bil (Global total.

10.

CHarleS SCHWaB

Median account: N.A.

Median account: $8.5 mil

U.S. Private-Banking offices: 87

Private-Client Managers: 27

32.

BroWn adViSory

U.S. total is N.A.)

rank ’08: 9

Private-Client Managers: 346

Private-Client Managers: 354

Specialties: Investment consulting and management, separate accounts, trust services, estate and tax planning, private banking. Website: www.pnc.com

Clients Per Manager: 40

rank ’08: N.A.

Minimum account: $10 mil

U.S. Private-Client assets: $82.3 bil

Clients Per Manager: N.A.

Clients Per Manager: N.A.

U.S. Private-Banking offices: 5

U.S. Private-Client assets: $6.3 bil

Median account: N.A.

Minimum account: N.A.

U.S. Private-Banking offices: 24

U.S. Private-Banking offices: 41

Specialties: Investment management, tax, estate and financial planning.

Minimum account: $5 mil

Website: www.morganstanleysmithbarney.com

Private-Client Managers: 350

Median account: N.A.

Specialties: Global investment management, capital markets and risk management, global custody, banking and structured lending, and family-office services.

Specialties: Financial and estate-planning services, individual private-banking services, investment-management services, personal trust services, including fiduciary services, insurance services.

tel: 888-762-6226

Median account: $9.4 mil

tel: 212-761-4000

Clients Per Manager: N.A.

Private-Client Managers: 4,002

e-mail: wealthmanagement@pnc.com

Website: www.bbh.com

Private-Client Managers: 17

e-mail: Click “Contact Us” at Website

U.S. Private-Banking offices: 13

Clients Per Manager: N.A.

tel: 704-370-0500, Charles O. Izard

Clients Per Manager: 20

Specialties: Wealth advisory services, as- set, liability and risk management, financial

U.S. Private-Banking offices: 304

e-mail: charles.izard@bbh.com

U.S. Private-Client offices: 5

Specialties: Brokerage, banking, trust, mutual funds, investment advice, stock ratings, finan- cial planning, managed accounts, insurance, annuities, banking.

Website: www.pwm.db.com

23.

Citi PriVate BanK

Specialties: Investement management, asset allocation, private equity and other alternatives, green investing, advice on tax, charitable, and generational planning.

3.

WellS Fargo and CoMPany

planning, and traditional and alternative investments.

tel: 212-454-3600, Thomas Bowers

Website: www.usbank.com

rank ’08: 2

 

(including former Wachovia Securities)

tel: 866-481-2077

U.S. Private-Client assets: $15.5 bil

28.

atlantiC trUSt PriVate WealtH MgMt

rank ’08: 4 (Wachovia); 10 (Wells Fargo)

Website: www.gs.com/pwm

e-mail: wmmarketing@usbank.com

Minimum account: N.A.

rank ’08: 32

Website: www.brownadvisory.com

U.S. Private-Client assets: $374.9 bil

tel: 800-323-5678 ext 4-3919

Website: www.schwab.com

15.

SUntrUSt BanKS

Median account: N.A.

U.S Private-Client assets: $9.2 bil

tel: 800-645-3923, 410-537-5455, Bill Paternotte

Minimum account: N.A.

e-mail: gsinfo@gs.com

tel: 866-232-9890

rank ’08: 18

 

Private-Client Managers: 139

Minimum account: $5 mil

e-mail: bpaternotte@brownadvisory.com

Median account: N.A.

 

U.S. Private-Client assets: $45.1 bil

19.

HarriS PriVate BanK

Clients Per Manager: N.A.

Median account: $9.3 mil

Private-Client Managers: 17,369

Minimum account: N.A.

rank ’08: 26

U.S. Private-Banking offices: 20

Private-Client Managers: 48

Clients Per Manager: N.A.

7.

B ny Mellon Wealt H Mg M t

11.

Credit SUiSSe PriVate BKg USa

Median account: $8.6 mil

U.S. Private-Client assets: $19.7 bil

Specialties: Investment management, tailored lending and banking services, estate planning and trust services, alter- native investments.

Clients Per Manager: 9.8

33.

BoSton PriVate WealtH MgMt

U.S. Private-Banking offices: 1,494

rank ’08: 12

rank ’08: 16

Private-Client Managers: 295

Minimum account: $1 mil

U.S. Private-Banking offices: 12

rank ’08: 29

Specialties: Investment management, broker- age, private banking, estate planning strate- gies, trust, insurance and retirement services. Family Wealth unit provides services to ultra- high net worth clients with at least $50 million.

U.S. Private-Client assets: $113.7 bil

U.S. Private-Client assets: $63 bil

Clients Per Manager: 154

Median account: N.A.

Specialties: Investment management and asset allocation, open architecture, fiduciary and trust services, and business and family advisory planning.

U.S. Private-Client assets: $6.1 bil

Minimum account: $2 mil

Minimum account: $3 mil

U.S. Private-Banking offices: 77

Private-Client Managers: 270

Website: www.privatebank.citibank.com

Minimum account: $1 mil

Median account: N.A.

Median accounts: N.A.

Specialties: Investment management, bank- ing solutions, trust and estate, risk. Serving clients in sports and entertainment.

Clients Per Manager: Under $25 mil,

tel: 800-870-1073

Median account: N.A.

Private-Client Managers: 834

Private-Client Managers: 407

50-200; over $25 mil; 5-40

Website: www.atlantictrust.com

Private-Client Managers: 61

Clients Per Manager: 50-75

Clients Per Manager: 60

U.S. Private-Banking offices: 25

tel: 404-881-3400 or 866-517-3400, Jack S. Markwalter, Jr.

Clients Per Manager: 12

Websites: www.wellsfargo.com/theprivate- bank and www.wellsfargoadvisers.com

tel: 866-243-0931, 800-627-8625

U.S. Private-Banking offices: 67

Specialties: Investment management, wealth and estate planning, asset servicing, informa- tion management, family-office services.

tel: 877-267-0198, Tom Hurlbrink

U.S. Private-Banking offices: 16

Specialties: Trust and estate advisory, private equity, hedge funds, structured prod- ucts, volatility management.

Website: www.credit-suisse.com

Website: www.suntrust.com/wealth

tel: 404-813-8002, Jenner Wood

e-mail: PrivateWealthManagement@SunTrust.com

Specialties: Personal and business financial management, business-succession planning and liquidity events, philanthropy, investment advisory, multigenerational wealth transfer.

24.

glenMede

e-mail: inquiry@atlantictrust.com

U.S. Private-Banking offices: 44

rank ’08: 30

Specialties: Private banking, mortgages, cash management, financial planning, asset allocation, portfolio management.

U.S. Private-Client assets: $14 bil

Minimum account: $3 mil

29.

VeritaBle

Website: www.bostonprivate.com

Website: www.harrisprivatebank.com

Median account: $10.6 mil

rank ’08: 38

tel: 617-912-3767, Catharine Sheehan

4.

JPMorgan

Website: www.bnymellonwealthmanagement. com

tel: 800-647-2516, Dale Miller

16.

rayMond JaMeS FinanCial

tel: 877-782-9386, Chris Paoli

Private-Client Managers: 33

U.S. Private-Client assets: $7.9 bil

e-mail: csheehan@bostonprivate.com

rank ’08: 7

e-mail: Dale.miller@credit-suisse.com

rank ’08: 15

e-mail: clientinfo@harrisbank.com

Clients Per Manager: 19

Minimum account: $20 mil

U.S. Private-Client assets: $350 bil

e-mail: wealthmanagement@bnymellon.com

U.S. Private-Client assets: $28.7 bil

U.S. Private-Banking offices: 5

Median account: $49 mil

Minimum account: N.A.

Minimum account: N.A.

Specialties: Traditional and alternative investment through proprietary products or externally managed vehicles. Per- sonal, estate, generational and retirement planning; fiduciary, tax and philanthropic services.

Private-Client Managers: 12

34.

roBert W. Baird

Median account: $29 mil for Private Bank; $1 mil for Private Wealth Mgmt

 

12.

rBC WealtH ManageMent

Median account: $7.3 mil

Clients Per Manager: 14-15

rank ’08: 25

8.

nortHern trUSt

r

ank ’08: 17

Private-Client Managers: 4,508

U.S. Private-Banking offices: 1

U.S. Private-Client assets: $5.6 bil

Private-Client Managers: 1,847

rank ’08: 13

U.S. Private-Client assets: $55.5 bil

Clients Per Manager: N.A.

Specialties: Tax-efficient investment, extensive experience in business, finance, taxation, and investments.

Minimum account: N.A.

Clients Per Manager: 25 for Private Bank;

U.S. Private-Client assets: $111.3 bil

Minimum account: N.A.

U.S. Private-Banking offices: 1,564

Website: www.glenmede.com

Median account: $7 mil

Private-Client Managers: 654

Clients Per Manager: 405

U.S. Private-Banking offices: 63

Specialties: Asset-allocation strategies, investment re- search and management, financial and retirement planning, estate and philanthropic planning, business-succession planning.

Website: www.rwbaird.com

tel: 800-RWBAIRD, Karen Sweeney

e-mail: pwmmarcom@rwbaird.com

35. tHoMaS WeiSel PartnerS

rank ’08: 39

U.S. Private-Client assets: $5 bil

Minimum account: $2.5 mil

Median account: $10 mil

Private-Client Managers: 9

Clients Per Manager: 50

U.S. Private-Banking offices: 1

Specialties: Strategic asset allocation and customized port- folio construction, alternative asset classes, hedging and monetization strategies, 10b5-1 sales plans, tax and estate planning, venture distributions services and corporate repurchase plans.

Website: www.tweisel.com

tel: 415-364-2500, Toni Dobel

e-mail: tdobel@tweisel.com

36. neUBerger BerMan

rank ’08: 21

U.S. Private-Client assets: $4.4 bil

Minimum account:$1 mil

Median account: $8.6 mil

Private-Client Managers: 68

Clients Per Manager: 5

U.S. Private-Banking offices: 19

Specialties: Portfolios focused on after-tax performance, asset allocation, stress tests, equities, fixed income and al- ternative investments, proprietary research, estate planning, trustee and executor services.

Website: www.nb.com

tel: 800-234-9840, Kenneth Rende

e-mail: krende@nb.com

37. legg MaSon inVeStMent CoUnSel

rank ’08: 40

U.S. Private-Client assets: $4.3 bil

Minimum account: $5 mil

Median account: $9.8 mil

Private-Client Managers: 24

Clients Per Manager: 10

U.S. Private-Banking offices: 6

Specialties: Customized portfolios, complete family-office services, proprietary equity research.

Website: www.lmicus.com

tel: 888-770-LMIC, Harry O’Mealia

e-mail: HOM@leggmason.com

38. t. roWe PriCe

rank ’08: N.A.

U.S. Private-Client assets: $3.2 bil

Minimum account: $3 mil

Median account: N.A.

Private-Client Managers: 5

Clients Per Manager: 34

U.S. Private-Banking offices: 1

Specialties: Fundamental research, portfolio construction, tax-efficient management, all major asset classes.

Website: www.troweprice.com

tel: 866-291-7977, Josh Slater

e-mail: PrivateAssetManagement@troweprice.com

Note: Data based on survey by Barron’s and estimates. Excludes institu- tional and custodial accounts.