Family Office
High-net-worth rate regional-banks' wealth brands
Market-research firm queries consumers on prestige of
private-client groups. SunTrust Private Wealth Management is the
most prestigious regional-bank affiliated wealth manager out
there, according to a survey of wealthy consumers by the Luxury
Institute, a New York-based market-research firm.
Wilmington Trust Wealth Advisors and BB&T Wealth Management
come next in order of preference, according to the Luxury
Institute's poll of about 500 U.S. consumers, each of them worth
at least $5 million.
No write-ins
The survey results are weighted to match demographic and
net-worth profiles of the same audience according to the Federal
Reserve's latest Survey of Consumer Finances.
The Luxury Institute's surveys provide respondents with a list of
brand names. The respondents are asked to rank the ones they
recognize in terms of prestige. So the individual respondent's
personal experience with the brands in question may not be a
factor, and there's no opportunity for a respondent to nominate a
firm that's not on the list.
In addition to the wealth-management units of SunTrust,
Wilmington Trust and BB&T the survey choices were US Bank
Private Client Group, PNC Advisors, National City Private Client
Group, Mellon Private Wealth Management, La Salle, Fifth Third
Private Client and Bank of New York Private Client Services.
-FWR
.