Hey there! If you’re looking to invest your hard-earned money, you might be wondering which financial advisory firms are worth considering. With so many options to choose from, it can be tough to know where to start. But some of the largest financial advisory firms in the US are often a good place to look. They’ve got great reputations, diverse products, and they’re transparent.
Here are the five biggest financial advisory firms operating with over $1 trillion in total assets under management (AUM): BlackRock, Vanguard, Fidelity, State Street Global Advisors, and J.P. Morgan Asset Management. Each of these companies is the best in the industry for different reasons, such as low fees and innovation, excellent customer satisfaction, or more than a century of dedicated financial management.
It makes sense that these firms are the top dogs, given their proven track records and long-standing reputations. They offer a tonne of different services for all types of clients, and some provide broad exposure to the market through mutual funds and exchange-traded funds (ETFs). So, most investors should be able to find something that suits their investment needs within their offerings.
BlackRock is the largest investment firm globally, managing $8.6 trillion in assets as of December 31, 2022. It’s popular for its iShares funds and operates in more than 30 countries, with clients in over 100 countries. Vanguard, the second-largest advisory firm, managed $7.2 trillion in total AUM as of December 31, 2022, and is famous for its low expense ratios on funds and passive investment management.
Fidelity Investments, with nearly $3.9 trillion in assets as of December 31, 2022, is highly rated in terms of customer satisfaction and online support. State Street Global Advisors manages $3.5 trillion in assets as of December 31, 2022, and offers investment management services to a wide range of clients, including retail investors. Finally, J.P. Morgan Asset Management, with $2.5 trillion in assets under management as of December 31, 2022, is renowned for its track record and name recognition, serving clients such as governments, financial institutions, businesses, pensions, and individuals.
When looking for an investment management firm, you should consider what’s most important to you. Factors like fees, product offerings, and customer support can all play a role. The biggest financial advisory firms often set themselves apart with their market advantages, such as specialising in specific asset classes like mutual funds or ETFs.
In conclusion, investment companies manage, sell, and market funds to the public, offering customers a variety of asset classes for investment. With thousands of financial advisory firms to choose from, researching the best one for you can take time. However, choosing one of the five largest financial advisory firms in the US could be a good starting point.