This year’s list of America’s Best Wealth Managers includes 250 managers managing $ 893 billion in assets Of customers. They were nominated by their company and then vetted and ranked by SHOOK research, using a methodology based on an algorithm of qualitative criteria, obtained primarily through telephone and personal due diligence interviews, and quantitative data.
The managers of this list have a minimum of seven years of experience, and the algorithm weights factors such as revenue trends, assets under management, compliance records, industry experience, and those encompassing best practices and approach to working with clients.
The list of the 250 best wealth managers is topped by Jeff Erdmannfrom Merrill Private Wealth Management (Greenwich, Connecticut). Erdmann manages $ 7.8 billion. Second place is for Brian C. Pfeifler, from Morgan Stanley Private Wealth Management (New York). Pfeifler manages $ 5.1 billion. The top 3 completes it Christopher errico, from UBS Private Wealth Management (New York), and manages 2,000 million dollars.
Forbes has interviewed five of America’s top wealth managers, managing a total of 15,000 millions dollars in assets:
He works for Merrill Lynch Private Wealth Management (Illinois, Chicago). Bahtia is ranked 48th on the 250 list, managing a total of $ 1.5 billion. Regarding client advice, the manager assures that “the panic sale is a sign of bad planning because the markets have moved significantly many times in the last 40 years, it is nothing new if you look at the history of the markets” .
This manager works for Pence Wealth Management (Newport Beach, California), is ranked number 76 on the list and manages a total of $ 1.3 billion. According to Pence, women have empathy and thus make clients trust them. The advisor assures that the virus and the markets will have to learn to coexist.
He works for Morgan Stanley Private Wealth Management in New York and manages a total of $ 6.1 billion. Wilson is ranked number 123 on the list, and says that “almost every conversation has involved customer disbelief in the marketplace over the past three months. Trying to reconcile the headlines we read every day about unemployment and falling GDP is helping clients realize that the market predicts the economy. “
This manager works for UBS Wealth Management (New York), is ranked 158th on the list and manages $ 838 million. According to Willens, “Diversity is good for everyone; we definitely have to work to achieve more diversity in our industry. The most important thing we have to work on is education because without education, we cannot do it ”.
He works for Morgan Stanley Wealth Management (Garden City, New York), is ranked 242 on the list and manages $ 6.2 billion. As Burrows told Forbes, “the market has acted quite similarly through many of these different market setbacks, what is different is the catalyst and what’s new in this case is that the catalyst is related to health.” .
* You can check the complete list here.