Top Wirehouses Control Major Share Of Assets

December 15, 2009 at 07:00 PM
Share & Print

The 4 leading wirehouse firms are a significant part of most asset managers' distribution strategies, according to a new report from Cerulli Associates, Boston.

Cerulli finds the top wirehouses–Merrill Lynch/Bank of America, Morgan Stanley Smith Barney, Wells Fargo/Wachovia and UBS–control nearly half of all advisor-managed assets. The firms together control about $3 trillion, or 80% of wirehouse assets.

Their size allows them to offer a broader array of services than most wirehouses can, and their network of external specialists make them ideal for investors with over $1 million in net worth, Cerulli says.

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Related Stories

Resource Center