The Top 20 Firms Where Rich Families Put Their Fortunes

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Bloomberg Markets Magazine ranked the top firms that manage money for the wealthiest families. Many of the top multifamily offices are associated with banks, while others are independently operated. 

And, many of these money managers offer services beyond just traditional investments and taxes — we’re talking about anything from family therapy to preempt any conflicts over cash to money training for the kids.

If you’re going to invest billions, you might as well get your money’s worth, right?

Thanks to Bloomberg Markets Magazine for giving us permission to run their list.

No.1: HSBC Private Wealth Solutions

Assets under advisement: $123.6 billion

YoY Change: +21% (No. 1)

Location: Geneva, Lugano and Zurich

Number of Families: 297

Average amount invested per family: ~$416 million (No. 2)

Source: Bloomberg Markets Magazine

No. 2: Northern Trust Corp.

Assets under advisement: $90 billion

YoY Change: +8% (No. 6-tie)

Location: Chicago

Number of Families: 4,101

Average amount invested per family: ~$22 million (No. 18)

Source: Bloomberg Markets Magazine

No. 3: BNY Mellon Wealth Management

Assets under advisement: $64.5 billion

YoY Change: -1% (No. 17)

Location: New York

Number of Families: 424

Average amount invested per family: ~$152 (No.7)

Source: Bloomberg Markets Magazine

No. 4: Bessemer Trust

Assets under advisement: $62.4 billion

YoY Change: +1% (No. 15)

Location: New York

Number of Families: 2,100

Average amount invested per family: ~$30 million (No. 16)

Source: Bloomberg Markets Magazine

No. 5: Pictet

Assets under advisement: $57.3 billion

YoY Change: +3% (No. 10-tie)

Location: Geneva

Number of Families: >50

Average amount invested per family: <~$1.15 billion (No. 1)

Source: Bloomberg Markets Magazine

No. 6: UBS Global Family Office

Assets under advisement: $37.3 billion

YoY Change: NA

Location: Zurich

Number of Families: 125

Average amount invested per family: ~$298 million (No. 3)

Source: Bloomberg Markets Magazine

No. 7: Wilmington trust (M&T Bank)

Assets under advisement: $31.9 billion

YoY Change: +6% (No. 8-tie)

Location: Wimington, DE

Number of Families: 306

Average amount invested per family: ~$104 million (No. 9)

Source: Bloomberg Markets Magazine

No. 8: Abbot Downing (Wells Fargo)

Assets under advisement: $30.6 billion

YoY Change: +12% (No. 4)

Location: Minneapolis

Number of Families: 597

Average amount invested per family: ~$51 million (No. 14)

Source: Bloomberg Markets Magazine

No. 9: U.S. Trust (Bank of America)

Assets under advisement: $29.6

YoY Change: +3% (No. 10-tie)

Location: New York

Number of Families: 163

Average amount invested per family: ~$182 million (No. 5)

Source: Bloomberg Markets Magazine

No. 10: Hawthorn (PNC Financial)

Assets under advisement: $21.3 billion

YoY Change: +9% (No. 5)

Location: Philadelphia

Number of Families: >550

Average amount invested per family: <~$39 million (No. 15)

Source: Bloomberg Markets Magazine

No. 11: Rockefeller Financial

Assets under advisement: $21 billion

YoY Change: +14% (No. 3)

Location: New York

Number of Families: 238

Average amount invested per family: ~$88 million (No. 10-tie)

Source: Bloomberg Markets Magazine

No. 12: Glenmede

Assets under advisement: $20.5 billion

YoY Change: +3% (No. 10-tie)

Location: Philadelphia

Number of Families: 163

Average amount invested per family: ~$126 million (No. 8)

Source: Bloomberg Markets Magazine

No. 13: Atlantic Trust Private Wealth Management (Invesco)

Assets under advisement: $17.3

YoY Change: +6% (No. 8-tie)

Location: Atlanta

Number of Families: 2,212

Average amount invested per family: ~$8 million (No. 19)

Source: Bloomberg Markets Magazine

No. 14: GenSpring Family Offices (affiliate of SunTrust Banks)

Assets under advisement: $17.5 billion

YoY Change: -12% (No. 18)

Location: Jupiter, FL

Number of Families: 654

Average amount invested per family: ~$27 million (No. 17)

Source: Bloomberg Markets Magazine

No. 15: Harris myCFO (BMO Financial Group)

Assets under advisement: $16.1 billion

YoY Change: -13% (No. 19)

Location: Palo Alto, CA

Number of Families: 239

Average amount invested per family: ~$67 million (No. 12)

Source: Bloomberg Markets Magazine

No. 16: Oxford Financial Group

Assets under advisement: $12.1

YoY Change: +17% (No. 2)

Location: Carmel, Indiana

Number of Families: 76

Average amount invested per family: ~$159 million (No. 6)

Source: Bloomberg Markets Magazine

No. 17: Veritable

Assets under advisement: $10.3 billion

YoY Change: +2% (No. 13-tie)

Location: Newtown Square, PA

Number of Families: 193

Average amount invested per family: ~$53 million (No. 13)

Source: Bloomberg Markets Magazine

No. 18: Silvercrest Asset Management

Assets under advisement: $10.2 billion

YoY Change: +8% (No. 6-tie)

Location: New York

Number of Families: 116

Average amount invested per family: ~$88 million (No. 10-tie)

Source: Bloomberg Markets Magazine

N0. 19(tie): Frankfurt Family Office (Deutsche Bank)

Assets under advisement: $9.8 billion

YoY Change: 0% (No. 16)

Location: Frankfurt

Number of Families: 50

Average amount invested per family: ~$196 million (No. 4)

Source: Bloomberg Markets Magazine

No. 19(tie): Johnson Investment Counsel

Assets under advisement: $9.8 billion

YoY Change: +2% (No. 13-tie)

Location: Cincinnati

Number of Families: NA

Average amount invested per family: ~NA

Source: Bloomberg Markets Magazine

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