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Top Wealth Managers 20. Hirtle, CallagHan & Co. tel: 215-419-6100, Chip Wilson Website: www.veritablelp.com Private-Client Managers: 654 rank ’08: 33 e-mail: [email protected] tel: 610-540-2036, John Scuteri Clients Per Manager: 405 To p We a l T h Ma n a g e r s 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 U.S. Private-Client assets: $17.15 bil e-mail: [email protected] U.S. Private-Banking offices: 63 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 Minimum account: $10 mil 25. BarClayS WealtH Specialties: Asset-allocation strategies, investment re- Median account: N.A. rank ’08: 19 search and management, financial and retirement planning, reshuffling of the ranks. “N.A.” means data not available. This ranking includes corrections to an earlier version. Private-Client Managers: 19 U.S Private-Client assets: $13.3 bil 30. FidUCiary trUSt CoMPany intl estate and philanthropic planning, business-succession Clients Per Manager: 10-25 Minimum account: N.A. rank ’08: 37 planning. U.S. Private-Banking offices: 7 Median account: N.A. U.S Private-Client assets: $7.0 bil Website: www.rwbaird.com 1. BanK oF aMeriCa gloBal WealtH 70 for Private Wealth Mgmt Minimum account: Typically $1 mil, but in Median account: $8 mil Specialties: Portfolio management, securities Specialties: Integrated asset management, capital Private-Client Managers: 233 Minimum account: $2 mil tel: 800-RWBAIRD, Karen Sweeney & inVeStMent ManageMent (including U.S. Private-Banking offices: 86 some regions, $10 mil Private-Client Managers: 2,173 and brokerage services, trusts, retirement ser- allocation, sensitivity to behavioral finance, alternative and Clients Per Manager: N.A. Median account: $10.3 mil e-mail: [email protected] Merrill Lynch and U.S. Trust) Specialties: Disciplined risk-adjusted portfolio Median account: N.A. Clients Per Manager: N.A. vices, alternative investments. long-only investments. U.S. Private-Banking offices: 12 Private-Client Managers: 30 rank ’08: 3 (BofA/U.S. Trust), 1 (Merrill) construction, thematic trading and alternative Private-Client Managers: N.A. U.S. Private-Banking offices: 213 Website: www.raymondjames.com/wealth- Website: www.hirtlecallaghan.com Specialties: Portfolio advisory, wealth advisory, credit and Clients Per Manager: 51 35. tHoMaS WeiSel PartnerS U.S. Private-Client assets: $685 bil investment opportunities, trust and estates Clients Per Manager: N.A. Specialties: Investment advisory services, management tel: 610-828-7200, Jonathan Hirtle lending, alternative investments. U.S. Private-Banking offices: 6 rank ’08: 39 Minimum account: N.A. planning, banking services, and balance-sheet U.S. Private-Client offices: 82 offices in retirement services, lending, trust and estate tel: 800-248-8863 ext. 76345, Patrick e-mail: [email protected] Website: www.barclayswealthamericas.com Specialties: Investment management, strategic wealth U.S. Private-Client assets: $5 bil Median account: N.A. lending/advisory. 18 states planning. O’Connor tel: 866-954-7904, Jack Petersen planning, trust and estate administration, tax reporting and Minimum account: $2.5 mil Private-Client Managers: 18,976 Website: www.jpmorgan.com/privatebanking Specialties: Financial planning, investment Website: www.rbcwm-usa.com e-mail: [email protected] e-mail: [email protected] services, master custody, and private banking. Median account: $10 mil Clients Per Manager: N.A. tel: 212-464-1088, Catherine Keating management, trust services, wealth and estate tel: 612-371-2711 21. WilMington trUSt Website: www.fiduciarytrust.com Private-Client Managers: 9 U.S. Private-Banking offices: 871 e-mail: [email protected] planning, private banking and family office rank ’08: 27 tel: 877-384-1111, Luke Fowler Clients Per Manager: 50 Specialties: Trust services, wealth structuring, services. 17. HSBC PriVate BanK U.S Private-Client assets: $17.1 bil 26. City national BanK e-mail: [email protected] U.S. Private-Banking offices: 1 credit, concentrated stock, investment and Website: www.northerntrust.com 13. BeSSeMer trUSt rank ’08: 24 Minimum account: $3 mil rank ’08: 31 Specialties: Strategic asset allocation and customized port- asset management, personal and institutional 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 folio construction, alternative asset classes, hedging and retirement, philanthropy, tax and estate plan- 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. monetization strategies, 10b5-1 sales plans, tax and estate ning, and family-office services. 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 planning, venture distributions services and corporate Websites: www.totalmerrill.com; www.ustrust. 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 repurchase plans. com; www.pbig.ml.com Median account: N.A. rank ’08: 8 Private-Client Managers:126 Clients Per Manager: 30-60 Specialties: Private banking, wealth planning, trustee ser- Clients Per Manager: N.A. Minimum account: $250,000 for brokerage, $3 mil for Website: www.tweisel.com 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 vices, investment management services. U.S. Private-Banking offices: 19 investment management tel: 415-364-2500, Toni Dobel Clients Per Manager: N.A. Minimum account: $1 mil U.S. Private-Banking offices: 14 Specialties: Discretionary portfolio manage- Website: www.wilmingtontrust.com Specialties: Open architecture advisory, portfolio manage- Median account: N.A. e-mail: [email protected] U.S. Private-Banking offices: 395 Median account: N.A. Specialties: Investment management, tax, ment, alternative investments, banking and tel: 302-651-1936, Mark A. Graham ment, fixed income brokerage, 401(k) and trust. Private-Client Managers: 72 2. Morgan Stanley SMitH Barney Specialties: Financial planning, balance-sheet Private-Client Managers: 400 legacy, insurance, and philanthropic planning. liquidity management, financing, trust and e-mail: [email protected] Website: www.cnb.com Clients Per Manager: N.A. rank ’08: 5 (Morgan Stanley), N.A. (Smith management focused on investment, financial Clients Per Manager: N.A. Website: www.bessemer.com fiduciary services. tel: 800-708-8881, Richard Gershen U.S. Private-Banking offices: 1 36. neUBerger BerMan Barney) and transactional needs; ongoing reviews and U.S. Private-Banking offices: 131 tel: 212-708-9140, Robert C. Elliott Website: www.hsbcprivatebank.com e-mail: [email protected] Specialties: Money management services, research, open rank ’08: 21 U.S Private-Client assets: $482 bil market updates, open architecture access to Specialties: Investment products and plan- e-mail: [email protected] tel: 212-525-0508 22. PnC WealtH ManageMent architecture, multigenerational financial planning and ad- U.S. Private-Client assets: $4.4 bil Minimum account: N.A. leading products. ning, brokerage, trust, charitable services, (including former National city) visory services; planning, advice and transactional support Minimum account:$1 mil Median account: $8 mil Website: www.ubs.com family office services and cash management. rank ’08: 22 (PNC), and 28 (National City) 27. BroWn BrotHerS HarriMan PriVATE for family businesses and corporate executives. Median account: $8.6 mil 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 Private-Client Managers: 68 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 Clients Per Manager: 5 U.S. Private-Banking offices: 1,000 e-mail: [email protected] rank ’08: 14 rank ’08: 23 Median account: N.A. U.S. Private-Client assets: $10.9 bil e-mail: [email protected], U.S. Private-Banking offices: 19 Specialties: Non-discretionary and discretion- 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 Specialties: Portfolios focused on after-tax performance, ary management of equity, fixed income and rank ’08: 11 Minimum account: N.A. Minimum account: $1 mil Clients Per Manager: N.A. Median account: $ 10 mil asset allocation, stress tests, equities, fixed income and al- alternatives, U.S. and non-U.S. portfolios; re- 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 ternative investments, proprietary research, estate planning, tirement and estate planning, asset allocation, U.S. total is N.A.) rank ’08: 9 Private-Client Managers: 346 Private-Client Managers: 354 Specialties: Investment consulting and management, separate Clients Per Manager: 40 rank ’08: N.A. trustee and executor services. private placements, risk management and Minimum account: $10 mil U.S. Private-Client assets: $82.3 bil Clients Per Manager: N.A. Clients Per Manager: N.A. accounts, trust services, estate and tax planning, private banking. U.S. Private-Banking offices: 5 U.S. Private-Client assets: $6.3 bil Website: www.nb.com investment banking. Median account: N.A. Minimum account: N.A.
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