Despite the stock market slump since the beginning of the year, the pandemic has generally been good for investors. The S&P 500 ended 2020 up over 16% and 2021 with a return of nearly 27%. Many wealth managers have been able to benefit as assets have continued to explode – a combination of investment returns and new client wealth.
In fact, BlackRock’s assets under management surpassed $10 trillion for the first time in the fourth quarter of 2021, the company said when it reported its financial results on Jan. 14. The company reported revenue of $19.3 billion for the year and nearly $540 in net inflows. BlackRock is the largest investment manager by assets under management.
To find the top 20 money managers with the most assets under management, 24/7 Wall St. reviewed and updated ADV Ratings The best wealth managers in the world List of current company records and company websites.
We have only included reported assets under management, although in the case of Bank of America, Morgan Stanley and JPMorgan Chase, client assets under management can be significantly higher. These will be noted.
Wealth management companies help clients invest their money. Their customers often include large institutional investors such as pension funds, governments or companies as well as foundations. Many also manage mutual funds and other vehicles in which individual investors can invest. Wealthy investors are also among the clients of these companies. (These are the countries where the 1% own the most wealth – Countries with the richest empires.)
The companies on the list are mostly American, but some are based in Europe. Some, like Bank of America, offer consumer banking, while many also offer investment banking services. Most companies also reported double-digit increases in assets under management year-over-year.
Whether wealth managers can repeat their recent success in 2022 remains to be seen. With inflation roaring to a four-decade high and the Federal Reserve warning of various actions it plans to take, markets are reeling. (The price of this household item is increasing.)
Click here to see the world’s largest wealth management firms in 2021