PWM / PB Tier List

Based on the most helpful WSO content, here's a detailed tier list of top Private Wealth Management (PWM) and Private Banking (PB) firms:

Top PWM and PB Firms:

1. Goldman Sachs (GS)

   • Known for a hybrid model leaning more towards Private Banking (PB).
   • Strong reputation and support.

2. Morgan Stanley (MS)

   • Consistently ranked among the top PWM firms.
   • Offers robust support and resources.

3. JPMorgan (JPM)

   • Private Bank (PB) division is highly regarded.
   • Known for its elite services and client base.

4. UBS

   • Recognized for its strong PWM division.
   • Competes closely with GS and MS.

5. Merrill Lynch

   • Noted for its Private Bank and Investment Group.
   • Offers comprehensive training programs.

6. Northern Trust

   • Known for a model similar to private banks.
   • Provides high-quality services and client support.

7. US Trust (BofA)

   • Operates similarly to private banks.
   • Offers extensive resources and client services.

8. Bessemer Trust

   • Highly regarded in the PWM space.
   • Focuses on ultra-high-net-worth clients.

9. Credit Suisse (CS)

   • Similar hybrid model to GS, leaning towards PB.
   • Strong reputation in wealth management.

10. Deutsche Bank (DB)

    • Offers competitive PWM services.
    • Known for its global presence and client support.

11. Evercore Wealth Management

    • Recognized for its boutique approach.
    • Provides personalized wealth management services.

Additional Notable Firms:

• Brown Brothers Harriman
• Abbot Downing
• Alliance Bernstein
• Ascent (US Bank)

These firms are known for their strong presence in the PWM and PB sectors, offering competitive salaries, benefits, and prestige. They are also noted for their supportive company culture and high levels of assets under management (AUM).

Sources: How PWM really works (part 3): PB v. PWM, lifestyle, hours, day in the life, An old man looking for advice, What are the best Private Wealth Management firms? (Salary, benefits, prestige, culture, etc), In 2018, what Firm has the best Ultra High Net Worth wealth management training program?, An old man looking for advice