Wealth Management Super League 2016; Comparing the performance of the world’s leading wealth managers

Pages: 45 Published: October 01, 2016 Report Code: VF0059CA

At the end of 2015, client assets booked with the world’s 25 leading private wealth managers grew by 0.9%. The top three rankings remained unchanged, with Switzerland’s UBS leading the way, followed by the US players Bank of America (BoA) Merrill Lynch and Morgan Stanley. Although industry-wide growth was much weaker than a year ago, pushed down by challenging market conditions and exchange rate fluctuations, most competitors maintained positive new money flows. Looking forward, however, 2016 results will reveal whether HNW investors are indeed again ready to trust the biggest players with their money. This will have a significant influence on wealth managers’ financial performance, as they struggle with decreasing margins and growing regulatory and restructuring costs.


Verdict Financial’s “Wealth Management Super League 2016” benchmarks the world’s leading wealth managers by managed client assets and financial performance. The report covers the 25 most prominent institutions, including standalone private banks and wealth managers, as well as competitors that are part of larger universal financial groups.

Specifically the report:

– Ranks the competitors by private clients’ AUM.

– Looks at client assets booked in other than pure wealth management services, including brokerage.

– Analyzes historical growth, as well as perspectives for further development of AUM, both in terms of current asset base expansion and attracting new money.

– Compares the profitability of the covered competitors, examining sources of revenue and the largest components of the cost base.

– Examines how wealth management units folded into larger organizations contribute to the wider business of the competitor in question.

Reasons to Buy

Benchmark your AUM and financial performance against the biggest players in the industry.

Understand the challenges in growing client assets in different geographies.

Learn about your competitors’ strategies related to expanding client books.

Find out how profitable the wealth management business is.

Identify the industry’s best practices in managing operating costs and boosting revenues.

Discover how wealth managers’ M&A activity affects their financial performance.

Key Players

ABN Amro
Bank of America Merrill Lynch
BNP Paribas
BNY Mellon
Charles Schwab
Citi Private Bank
Crédit Agricole
Credit Suisse
Deutsche Bank
Goldman Sachs
HSBC Private Bank
JP Morgan
Julius Baer
Morgan Stanley
Northern Trust
Royal Bank of Canada
Royal Bank of Scotland
Société Générale
Standard Chartered
US Trust
Wells Fargo

Table of Contents


AUM at the top private wealth managers grew by just

0.9% in 2015

Key findings

Critical success factors


2015 saw the top wealth managers' market share drop

Swiss and US banks dominate the ranks of the top five wealth managers by AUM

The top five wealth managers accounted for $4.8tn of client assets

Few wealth managers experienced AUM contractions in 2015

Private wealth management is typically the main focus of Super League players

Competition for smaller-scale investors has been fierce, raising the threshold for the 'marginal client'

US broker dealers dominate when measuring wealth managers by AUA

The largest US broker dealers had almost $5tn in assets

Overall wealth managers' AUA growth in 2015 was negative

A key element of wealth manager AUA, brokerage assets have been held back by equity markets and growing competition

Net inflows remained strong in 2015, though lower than in 2014

In 2015, positive inflows saved wealth managers from AUM contraction

2016 will test investors' trust in wealth managers' skills


Group-level performance remains volatile, though 2015 was a good year in general

Combined Super League profits stood at all-time highs as competitors dealt with one-offs

The contribution of wealth management operations varies greatly

Most wealth management divisions reported profits in 2015

However, these profits were generally lower than in 2014

Even profitable wealth units face growing cost bases and shrinking margins


Abbreviations and acronyms

Supplementary data


Competitor coverage

Client assets data

Financial performance data

Exchange rates


Further reading

About Verdict Financial


List of Tables

Table 1: Super League wealth managers' published private clients AUM ($bn), 2014-15

Table 2: Wealth management unit standard minimum thresholds, 2015

Table 3: Super League wealth managers' AUA ($bn), 2014-15

Table 4: Super League wealth managers' net new money ($bn), 2010-15

Table 5: Comparison of selected wealth managers' retail and private client AUM ($bn), 2013-15

Table 6: US wealth managers' brokerage assets ($bn), 2010-15

Table 7: Super League competitors' profit before tax at group level ($bn), 2014-15

Table 8: Super League competitors' wealth management units' contribution to group revenues (%), 2014-15

Table 9: Super League competitors' profit before tax at wealth management division level ($bn), 2014-15

Table 10: Super League competitors' operating revenues at wealth management division level ($bn), 2014-15

Table 11: Super League competitors' operating expenses at wealth management division level ($bn), 2014-15

Table 12: Competitors tracked in Super League analysis

Table 13: Wealth divisions tracked in Wealth Management Competitor Analytics

Table 14: Competitors for which estimates have been used

Table 15: US dollar exchange rates, December 31, 2014, and December 31, 2015

List of Figures

Figure 1: The top wealth managers' AUM growth has been slowing

Figure 2: The largest wealth managers struggled with AUM growth in 2015

Figure 3: Only two competitors recorded double-digit AUM growth in 2015

Figure 4: Most Super League competitors are focused on private rather than retail clients

Figure 5: Most wealth managers recorded lower AUA in 2015 compared to 2014

Figure 6: Growth in wealth managers' brokerage operations has been slowing

Figure 7: Super League wealth managers have been recording positive net new money flows since 2010

Figure 8: In 2015 net new money decreased for the first time since 2012

Figure 9: BNP Paribas nearly tripled its net inflows between 2014 and 2015

Figure 10: Only four Super League competitors recorded losses at group level in 2015

Figure 11: Private banks are not the core business of the large banking groups

Figure 12: Only two competitors' wealth divisions recorded losses in 2015

Figure 13: The cost/revenue ratio has been increasing since the financial crisis

Figure 14: Few competitors managed to reduce operating expenses in 2015

Figure 15: Rising costs continued to affect wealth managers' profits


Can be used by individual purchaser only


Can be shared globally by unlimited users within the purchasing corporation e.g. all employees of a single company

Get in touch to find out about our multi-purchase discounts

Tel +44 (0) 20 7947 2960

Every customer’s requirement is unique. We understand that and can customize the report basis your exact research requirements pertaining to market insights, innovation insights, strategy and planning, and competitive intelligence. You can also avail the option of purchasing stand-alone sections of the report or request for a country specific report.

Still undecided about purchasing this report?


“The GlobalData platform is our go-to tool for intelligence services. GlobalData provides an easy way to access comprehensive intelligence data around multiple sectors, which essentially makes it a one-for-all intelligence platform, for tendering and approaching customers.

GlobalData is very customer orientated, with a high degree of personalised services, which benefits everyday use. The highly detailed project intelligence and forecast reports can be utilised across multiple departments and workflow scopes, from operational to strategic level, and often support strategic decisions. GlobalData Analytics and visualisation solutions has contributed positively when preparing management presentations and strategic papers.”

Business Intelligence & Marketing Manager, SAL Heavy Lift

“COVID-19 has caused significant interference to our business and the COVID-19 intelligence from GlobalData has helped us reach better decisions around strategy. These two highlights have helped enormously to understand the projections into the future concerning our business units, we also utilise the project database to source new projects for Liebherr-Werk to use as an additional source to pitch for new business.”

Market Analyst & Management, Liebherr-Werk

Your daily news has saved me a lot of time and keeps me up-to-date with what is happening in the market, I like that you almost always have a link to the source origin. We also use your market data in our Strategic Business Process to support our business decisions. By having everything in one place on the Intelligence Center it has saved me a lot of time versus looking on different sources, the alert function also helps with this.

Head of Key Accounts, Saab AB

Having used several other market research companies, I find that GlobalData manages to provide that ‘difficult-to-get’ market data that others can’t, as well as very diverse and complete consumer surveys.

Marketing Intelligence Manager, Portugal Foods
Financial Services
Wealth Management Trends and Themes in 2023
$5,250 | February 2023
Financial Services
India Wealth Management - Market Sizing and Opportunities to 2026
$2,750 | February 2023