Boston Private Financial Holdings garnered the number one spot in the latest Luxury Institute survey of wealthy clients who were asked to rate their top wealth management firms.

 

Bessemer Trust Co, the previous top placer, for the first time in five years was booted out of the top three and landed in twelfth place. Second came the wealth management unit of AllianceBernstein, Bernstein Global Wealth Management, while Rockefeller placed third. This is the first time Rockefeller joins the list.

 

The Luxury Brand Status Index Survey of Wealth Management Firms is published annually by the Luxury Institute of New York City and is based on the evaluations of leading luxury wealth management companies by US consumers with a minimum net worth of $5 million.

 

The latest survey, which involved an online poll of 505 respondents, turned up 34 wealth managers on the 'best' list, which included trust companies, private banks, and the high-end wealth operations of other financial services providers.