The Top 20 Firms Where Rich Families Put Their Dough

From Bloomberg: “…..In sheer size, the family office units of banks dominate the ranking. Nine of the top 10 are associated with banks. HSBC Private Wealth Solutions, a unit of London-based HSBC Holdings Plc (HSBA), is No. 1 by total assets under advisement for the second consecutive year, with $123.6 billion as of Dec. 31, an increase of 21 percent over 2010.

Small is Beautiful

No. 2 on the list is Northern Trust Corp. (NTRS), based in Chicago, with $90 billion, while No. 3 is BNY Mellon Wealth Management, a unit of Bank of New York Mellon Corp. (BK), with $64.5 billion.

The top family office in assets per family is 1875 Finance of Geneva, which manages the wealth of three multigenerational families, whose assets average $1.7 billion.

It’s easier to grow when you’re small. Even so, of the top 10 fastest-growing firms in the ranking, only one -- HSBC Private Wealth Solutions -- was part of a big bank. The other nine…

Read more: http://www.businessinsider.com/check-out-the-top-20-money-managers-for-wealthy-families-2012-8?op=1#ixzz22vmOnKgj