UBS, Morgan Stanley dominate wealth management with $2T each

    By
    NexChange
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    UBS[1]

    UBS and Morgan Stanley have secured their rank managing money for the world’s wealthiest.

    The two asset managers how run more than $2 trillion each, Bloomberg reports. The Swiss UBS had its assets under management grow 3.5% to $2.04 trillion in 2014. Morgan Stanley was close behind, growing its assets 6.1% to $2.03 trillion. The global wealth management industry holds $20.6 trillion in high-net-worth individuals’ money, but the top 10 managers run about 47% of that. UBS controls 9.9% of the pie.

    After a dip in 2013, the 200 firms surveyed by Scorpio Partnership reported that they had an average 26% increase in net new money in 2014. J.P. Morgan had a big increase in its high-net-worth money last year, growing 19% to $428 billion. BMO had a booming 80% growth to $326.4 billion after making some acquisitions.

    The average AUM growth was 3.4%, compared to 15% in 2013.

    Photo: Wikipedia.