Bloomberg Markets just released its annual ranking of the richest family offices. Surprisingly, as the world’s rich got richer, smaller boutique firms were among the fastest growing family offices. And, 40 out of the top 50 on the list have main office locations in the U.S. ranging from Indianapolis, IN to Norfolk, VA to Columbus, GA.
The leader in growth, CV Advisors LLC. CV, is based in Miami, FL and saw assets under advisement grow 40 percent in the year ended onMarch 31, to $3.5 billion. The number two fastest growing — Commerce Family Office based in St. Louis, MO at 31 percent to $11.2 billion. In terms of total assets, top five include HSBC Private Wealth Solutions ($143.5 B), Northern Trust ($116.4B), Citi Private Bank ($100.5B) , Bessemer Trust ($96.6B) and BNY Mellon Wealth Management ($81.2B)