10 Best Wealth Management Firms in the US

Navigating the world of wealth management can be overwhelming, especially as the definition of "wealthy" continues to evolve.

In today’s financial climate, one common question surfaces time and again: How much do you need to earn to be wealthy? While some define it by a seven-figure income, others point to long-term assets, lifestyle flexibility, or even peace of mind in retirement.

Regardless of the benchmark, once your financial picture reaches a certain level of complexity, managing it effectively becomes a challenge best handled by experts.

That’s where top-tier wealth management firms come in. From tax strategies and estate planning to investment guidance and family office services, these institutions help affluent individuals and families protect and grow their wealth.

We’ve researched and compiled the 10 best wealth management firms in the U.S., evaluating each based on assets under management (AUM), client focus, service offerings, and reputation. Whether you're just crossing into high-net-worth territory or stewarding a multi-generational legacy, the right advisor can make all the difference.

BlackRock

The world's largest asset manager offering institutional, retirement, ETF, and wealth advisory solutions.

Key Details

• AUM: ~$11.6 trillion by year-end 2024

Minimum Investment Requirement

Primarily institutional/intermediary clients; wealth advisory minimums vary by platform.

Fee Structure

Fee public via fund disclosures (ETFs, advisory); wealth service pricing is intermediary-driven, not always retail-transparent.

Pros:

• Unmatched scale and tech via Aladdin
• Low-cost ETF products (iShares)
• Leadership in passive and alternative markets

Cons:

• Primarily serves institutional investors, not individual retail clients
• Individual planning services are limited in transparency

Best For:

Institutional, intermediary clients, tech-driven investors, and high-investment platforms.

Vanguard Group

One of the world's largest asset managers and a leading provider of wealth advisory services. Vanguard stands out with its investor‑owned structure, passive-first philosophy, and a growing emphasis on holistic advice for high-net-worth clients.

Key Details

• AUM: Approximately $10.4 trillion globally, as of January 31, 2025
• Founded: 1975; headquartered in Malvern, PA
• Advisors / Reach: Reaches over 50 million investors globally with a staff of ~20,000
• Notable: Its investor-owned structure and early innovation in index funds are key differentiators.

Minimum Investment Requirement

• Digital Advisor: As low as $100
• Personal Advisor: Hybrid service with $50,000 minimum
• Personal Advisor Select: $500,000 minimum
• Personal Advisor Wealth Management (high‑net‑worth): $5 million+

Fee Structure

Depending on the service tier, fees are disclosed in advisory brochures.

Pros:

• Extremely low-cost structure rooted in investor ownership and index-based strategy.
• Multi-tiered advice offerings cover entry-level to high-net-worth clients.
• Transparent fees with predictable AUM-based advisory pricing.

Cons:

• Wealth teams and private services are not as expensive or bespoke as UBS or Morgan Stanley.
• Advisor-led high-net-worth experience is still under development compared to established private banks.

Best For:

Cost-conscious investors, mass-affluent clients, and DIY-savvy individuals seeking a scalable advisory model.

Fidelity Investments

Major U.S. financial services firm offering brokerage, planning, advisory, and retirement solutions.

Key Details

• AUM: Estimated ~$5.3 trillion globally (asset management) per 2024

Minimum Investment Requirement

$100K–$250K for wealth services; lower thresholds via robo/advisory.

Fee Structure

Transparent fee tiers (often under 1%), flat-fee planning options, low-cost index products.

Pros:

• Excellent digital tools & low-cost investment vehicles
• Strong retirement planning and advisory blend
• Fee structure largely transparent

Cons:

• Advisor-led experience varies by location
• Wealth services are less personalized for UHNW markets

Best For:

Cost-conscious investors, mid-net-worth families, DIY-savvy clients.

Morgan Stanley Wealth Management

A top-tier, bank‑owned wealth advisory arm delivering services from retail to ultra-high-net-worth individuals via a vast advisor network.

Key Details

• AUM: Approx. $6.5 trillion (Dec 2024)
• Firm AUM ranking: #1 globally among wealth management firms
• Advisors: Around 16,000

Minimum Investment Requirement

Typically $5 million+ for private wealth teams (e.g. 545 Group), higher for ultra‑HNW groups ($10M–$50M).

Fee Structure

Standard: tiered AUM‑based fees (~1%–0.5% depending on size); private‑wealth pricing varies by team (not always fully public).

Pros:

• Largest global footprint and scale
• Deep expertise across investor segments
• Access to complex planning, trust, and institutional services

Cons:

• High minimums for bespoke service
• Fee transparency varies depending on the advisor/team

Best For:

UHNW individuals, families, and business owners need full-service planning.

UBS Global Wealth Management (US‑focused)

Swiss-headquartered private bank with global wealth advisory services, especially for cross-border and ultra-high-net-worth clients.

Key Details

• AUM: ~$6.1 trillion (2024)
• Advisors: 11,000+ advisors globally

Minimum Investment Requirement

Typically $10M+ for private wealth teams (e.g. Hollenbaugh Rukeyser).

Fee Structure

Private banking fees are often customized; some transparency via UBS disclosures, but variable by market/region.

Pros:

• Excellence in cross-border estate and tax planning
• Strong reputation with global high-net-worth clients
• Discreet, high-touch service

Cons:

• Less focus on U.S.-only retail clients
• Fee transparency and thresholds are less predictable

Best For:

Global family offices, ultra‑HNW individuals with international exposure.

J.P. Morgan Private Bank

JPMorgan Chase’s elite wealth arm offers integrated banking, lending, and sophisticated planning.

Key Details

• AUM: ~$4.0 trillion (private banking) as of 2024

Minimum Investment Requirement

Usually $10M+ to access private bank services.

Fee Structure

AUM-based model; specific pricing is often customized and not fully disclosed.

Pros:

• Seamless banking and credit solutions
• Deep trust, estate, and family office expertise
• Access to global institutional resources

Cons:

• High entry requirement excludes many clients
• Fees are opaque and may vary widely

Best For:

UHNW families seeking full private bank integration.

Goldman Sachs Private Wealth Management

High-end wealth advisory division for ultra-wealthy clients, offering bespoke investment strategies and alternative access.

Key Details

• AUM: ~$3.14 trillion (2024)

Minimum Investment Requirement

Typically $10M+ (or more depending on services).

Fee Structure

Custom AUM-based pricing; less publicly available fee schedule.

Pros:

• Exclusive alternative investment access
• Institutional-level advisory and research
• Sophisticated wealth structuring

Cons:

• Premium fee structure
• Limited access for mass-affluent or mid‑HNW clients

Best For:

UHNW individuals seeking performance & institutional-style services.

Edward Jones

Large U.S. retail-focused advisory firm known for local branch-based client support.

Key Details

• AUM: ~$2.2 trillion (Dec 2024)
• Advisors: ~20,000 (U.S. & Canada)

Minimum Investment Requirement

Relatively low, often accessible at $250K+.

Fee Structure

Commission-based and fee-based; some standardized planning packages; disclosure varies by advisor.

Pros:

• Strong personal relationships and local presence
• Simple entry for mass-affluent and mid-net-worth
• Accessible planning services

Cons:

• Lacks ultra-HNW complexity
• Advisor quality can vary by office

Best For:

Mid‑net‑worth and retirees looking for face-to-face guidance.

Bank of America Global Wealth & Investment Management (Merrill)

Integrated wealth management arm combining Merrill Lynch and BofA Private Bank services.

Key Details

• AUM: ~$1.9 trillion (2024)

Minimum Investment Requirement

$250K+ for Merrill; $3M+ for private bank.

Fee Structure

Tiered AUM-based fees (~1% or less), hybrid commission + fee model; variable transparency.

Pros:

• Wide advisor network
• Integrated banking and credit offerings
• Broad product suite

Cons:

• Inconsistent advisor experience; some client attrition
• Fee transparency and accountability vary

Best For:

Professionals or executives seeking bank-affiliated planning.

Northern Trust

A premier U.S. trust bank and private wealth manager serving ultra‑high‑net‑worth individuals, family offices, institutions, and foundations with high-touch, fiduciary services and robust digital tools.

Key Details

• AUM: ~$446.9 billion in wealth management as of March 31, 2025; total custody/administration assets: ~$16.9 trillion
• Founded: 1889; headquartered in Chicago, with global presence across 24 U.S. states and 22 international regions

Minimum Investment Requirement

Typically targeted at clients with $50 million+ assets, though some family office clients may start lower, depending on structure.

Fee Structure

Personalized, team-based fee models; pricing is bespoke and often not publicly disclosed. Trust and wealth service fees are driven by customized planning needs.

Pros:

• Exceptional legacy in trust, estate, and fiduciary services
• Strong client service reputation, recently named top U.S. private bank for digital wealth planning
• Integrated asset servicing, custody, and wealth advisory under one roof

Cons:

• Very high minimums often limit accessibility; boutique rather than mass-market
• Fee transparency varies; most are not standardized or publicly posted

Best For:

Ultra‑high‑net‑worth families, multi-generational clients, and institutional-grade legacy planning.

Choosing the right wealth management firm

Whether you're seeking institutional-grade service from firms like Morgan Stanley or J.P. Morgan, low-cost advisory from Vanguard or Fidelity, or high-touch planning like Northern Trust, there’s a solution tailored to your needs.

As your wealth grows, so does the importance of expert guidance, and these top firms represent the best the U.S. has to offer in helping you build, protect, and transfer your financial legacy.