America’s Top Wealth Management Teams Private Wealth

EDITED BY SERGEI KLEBNIKOV AND 
SHOOK RESEARCH
NOVEMBER 07, 2023, 10:00 AM
  • Last week the Fed left rates unchanged and even hinted that its rate hikes might be over. That has been good news for the stock market which is up 14% so far in 2023, as many believe we will avoid a recession. Solid jobs and consumer data have added to investor confidence but inflation is still above the Fed’s 2% stated target. It’s likely that interest rates will remain higher for longer and smart wealth managers have been reallocating client assets toward fixed income and private credit. The wealth management teams featured here have multiple client facing advisors and a broad range of expertise and services. Teams in the private wealth category are those that primarily focus on accounts with $10 million or higher, though minimums for related household accounts can and often are lower. The second annual Forbes/Shook Top Wealth Management Teams Private Wealth list has 100 teams with cumulative assets of more than $1 trillion. Forbes’ list was compiled by SHOOK Research, which uses quantitative and qualitative data, including interviews, to rank teams.
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The Highlights

Data provided by SHOOK® Research, LLC. Data as of 3/31/23 Source: Forbes.com (November, 2023). Forbes America’s Top Wealth Management Teams ranking was developed by SHOOK Research and is based on in-person, virtual and telephone due diligence meetings and a ranking algorithm that includes: a measure of each team’s best practices, client retention, industry experience, review of compliance records, firm nominations; and quantitative criteria, including: assets under management and revenue generated for their firms. Investment performance is not a criterion because client objectives and risk tolerances vary, and advisors rarely have audited performance reports. SHOOK’s research and rankings provide opinions intended to help investors choose the right financial advisor and team, and are not indicative of future performance or representative of any one client’s experience. Past performance is not an indication of future results. Neither Forbes nor SHOOK Research receive compensation in exchange for placement on the ranking. For more information, please see www.SHOOKresearch.com. SHOOK is a registered trademark of SHOOK Research, LLC.

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