The guidance of a knowledgeable wealth manager can make the difference between growth and stagnation. It can also mean that estates weather the market shifts that normally occur. A wealth manager can help a family plan for long-term goals and guide the decision-making process through an overwhelming sea of options and often-confusing terminology. There are several considerations when selecting a wealth manager. Is this a person that your family can trust with valuable personal information? Does the wealth manager have the knowledge and demonstrated track record of sound investment management? Is the wealth manager suggesting a wide range of financial options or only in-house products? The answers to these questions will drive the selection of the best wealth manager for the family. These four top wealth managers assist families across the United States.
Top 5 Firms for Diversified Index Funds:
- Jeff Erdmann, Merrill Lynch
- Brian Pfiefler, Morgan Stanley
- Chris Errico, UBS
- Andy Chase, Morgan Stanley
Jeff Erdmann, Merrill Lynch
Realizing that wealthy families needed more than just a stock broker, Jeff Erdmann developed his team into a group that provides full concierge services to their clients. They can address any financial need that a family may have and develop solid plans for the future. This level of responsiveness to both the client and the marketplace has earned him to top position in Forbes list of best wealth managers. He and his team also lead education efforts in the form of financial boot camps at the University of Pennsylvania, UCLA and the University of Chicago. This commitment to both fiscal preservation and development, as well as, client education has earned the trust of many clients.
Merrill Lynch highlights:
- Full concierge wealth management services
- Leads financial boot camps at several major universities.
- Named the Top Wealth Manager by Forbes Magazine
Brian Pfiefler, Morgan Stanley
Brian Pfiefler has worked as an investment banker and a bond trader. When he moved into wealth management, he considered what was most important for his clients. He decided that providing concierge type wealth management services was counterproductive for his clients and an ineffective use of his time. Instead, he focuses on interpreting market trends and identifying opportunities that his clients can take advantage of to further develop their already substantial wealth. This approach seems to have worked as he currently manages $7.7 billion in assets. He considers his work to be an interesting intellectual challenge and enjoys studying economic and political changes to decide how they will impact his client base. This approach has earned him the second position on Forbes magazine’s list of top wealth managers.
Morgan Stanley highlights:
- Does not provide concierge services to clients.
- Focuses on market trends, economic shifts and political development for client impact.
- Manages $7.7 billion in assets.
Chris Errico, UBS
After 9/11, Chris Errico’s clients heard a singular quote from him “America is on sale, and we need to start buying stocks.” This stock focus differentiates him from other wealth managers who rely on in-house packaged investment products. He contends that client’s portfolios should be comprised of a least 20% stocks. His client base has been so successful that his business has grown to $3.1 billion in managed assets. Gas and oil is another area that he has focused on. While this has been a difficult sector for investors in recent years, he continues to watch this area while he is betting on its resurgent growth.
UBS highlights:
- Focuses on the development of stock selection in client’s portfolios
- Has had past successful investments in the gas and oil sectors.
- Manages #3.1 billion in assets.
Andy Chase, Morgan Stanley
From his home base in Silicon Valley, Andy Chase has spent the last 30 years advising clients and managing their wealth through the develop of technology such as personal computing, biotechnology advancements and the growth of Internet corporate giants. He guides clients through these developments with an eye that avoids trendy options and focuses on solid investments. Currently he manages $37 billion in assets.
Andy Chase, Morgan Stanley highlights:
- Focuses on solid investments.
- Invests heavily in equities.
- Manages $37 billion in assets.
Conclusion
These wealth managers as the best at what they do and have the results to prove that. Each brings a unique focus to the management and growth of client’s portfolios.