Top Financial Advisor Firms?
Hi All,
A bit of a deviation from the forums on here but could someone provide a rank/discussion kn the top major firms to work as a financial advisor (wealth management)?
1) Northwestern Mutual
2) everyone else
I don't get why anyone threw MS on this. This is gold Jerry! Gold!
ikr! you're welcome to balance it out with some sb's
I gladly would, but I ran into "the Isaiah problem" of handing out too many SBs in a 30 day period so I'm not allowed to toss anymore for a bit.
this will be biased based upon where I work, and since I've never worked in PB, firms like JPM, GS, CS, Northern Trust, etc., will be excluded. also because independent shops have so much spread, can't make broad generalizations there
tier 1: merrill, ubs, morgan - head and shoulders above the rest in terms of resources, talent, brand recognition. all top brokers that aren't independent work here, with limited exceptions. some will argue that morgan and merrill are above ubs or that morgan is above merrill, but I think that's splitting hairs, this is top tier in PWM, within the top is the same arguments about IB between GS/JP/MS depending upon group.
tier 2: wells fargo, ed jones, stifel, rbc, truist/scott & stringfellow, some others I'm probably forgetting - a notch down from the first tier in every quantifiable way. will have less intense cultures most likely but less access to top money managers, less resources in just about every sense of the word
tier 3: insurance companies, including nw mutual, ameriprise, etc.
if you have specific questions, please let me know. I've taken business from every firm on this list and while I've only worked at 2 mentioned, I can give more insight, I'd just rather answer specific Q's than ramble
Amazing answer and really all I was wondering - thanks so much.
Morgan and Merrill make sense akin to GS/JPM but I’ve just always been curious.
Are the career comp rates comparable to that of IB? Would you be willing to provide a breakdown from advisor/analyst to MD (or whatever PWM would call them, SVP(?))?
I have a 4 part series on PWM, all of the info is still correct. go and read all of that and let me know if any Q's remain
Will check out - thank you
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