Wealth advisory services for high-net-worth clients is still considered the biggest opportunity for firms, despite an increasingly challenging environment. Last year, about 22 percent of advisors reported they primarily focus on clients with assets greater than $2 million. That's up from the 13 percent in 2014, according to Cerulli Associates, which says it expects the trend to continue.
To rank the top high-net-worth advisory firms, WealthManagement.com's staff assembled a list of the top registered investment advisors using data from Meridian-IQ (in which Penton Media has a stake). Advisory firms are ranked by total assets under management. To land on the list, high-net-worth clients had to account for 76 percent or more of the firm’s business. Firms also had to have a focus on financial and retirement planning; institutional clients do not make up a substantial portion of their businesses. Finally, none of these firms are owned by a bank, broker/dealer or investment company. For the complete list, click here.
