10 Largest Financial Advisor Firms in New York City in 2020

The financial advisor firms dominating New York City.

Home to Wall Street, New York City is a natural hub of the financial industry. From the New York Stock Exchange to banks and financial advisor firms, there's something for nearly every financial need. If you're a current or aspiring financial professional, it only makes sense to start your search for a potential employer in this hotbed of finance. But how do you choose among the myriad financial advisor firms available? One strategy is to target the biggest of the bunch, namely firms with the most in assets under management, or AUM. This number is the market value of the assets a firm manages for its clients. Firms with more AUM tend to have the means to provide a broader suite of services for clients and advisors. They're also more likely to have diverse career paths for their employees. Here is a list of the 10 largest financial advisor firms in New York City.

International Assets Investment Management

Assets under management: $907.2 million.

The tagline for International Assets Advisory is "bringing Wall Street to Main Street." It aims to do this by providing Wall Street products with Main Street service. These products include financial and estate plans and fee-based accounts offered through IAA's affiliate International Assets Investment Management, which was formed in 2007 to serve as its registered investment advisor affiliate. Since then, the firm has accumulated more than $900 million in AUM. The client base includes private clients, corporations, community and family foundations, including nonprofits, and smaller businesses such as law firms and physician practices. The company has more than 200 independent registered representatives and offices in all 50 states.

J. Safra Asset Management Corp.

Assets under management: $1.9 billion.

Owned by Safra New York Corp., J. Safra Asset Management Corp. has been providing investment and consulting services to clients since 2004. It provides discretionary and nondiscretionary advisory services and managed account services to clients as well as investment management services to private funds and investment consulting for institutional clients. Advisors are compensated solely through a fixed fee, often either a percentage of assets under management or a flat fee for services rendered. It is headquartered in New York City but has a branch in Aventura, Florida.

National Asset Management Inc.

Assets under management: $2.6 billion.

National Asset Management Inc. is the asset management affiliate of National Holdings Corp. It serves private clients, institutions and organizations with custom financial plans, portfolio monitoring, advisor-managed accounts and fund mandates. Programs currently offered include Advisor as Portfolio Manager, where advisors manage client accounts through the Envestnet platform. Individuals make up the bulk of the firm's client base at 60% of assets under management. Charitable organizations, corporations and businesses each represent another 20% of AUM.

Wealthspire Advisors

Assets under management: $12 billion.

Founded in 1995, Wealthspire is a young financial advisory firm with a New York office located in midtown Manhattan. The firm currently employs more than 125 professionals and is known to acquire small registered investment advisors -- such as the recently acquired StratWealth -- as well as individuals and teams to expand its advisor pool. With no proprietary products or sales incentives, Wealthspire emphasizes planning as the foundation of financial advice. The firm has 11 offices throughout the East Coast.

HSBC Securities Inc.

Assets under management: $571 billion.

Headquartered in New York City, HSBC provides banking and investing services to more than 40 million customers in 64 countries and territories. The customer base is primarily individuals, but HSBC also serves charitable organizations and businesses. The firm's service includes wealth and personal banking, commercial banking, and global banking and markets. HSBC, which stands for The Hongkong and Shanghai Banking Corp., dates back to 1865, when it first opened in Hong Kong. A decade later, the bank had expanded across Asia, Europe and North America. Today, locations include branches and offices in New York City, Los Angeles, Chicago, Atlanta, Houston, Seattle, Miami, San Francisco and the District of Columbia.

Raymond James & Associates Inc.

Assets under management: $930 billion.

Founded in 1962, Raymond James & Associates Inc. provides advisors with several affiliation options. Employee advisors work in a branch with their own book of business. Independent advisors can leverage Raymond James' products, technology and services to support their own practices. Institutional advisors and financial brokerages can take advantage of the asset management, financial planning and investment solutions the firm offers. The firm employs more than 8,200 financial advisors throughout the U.S., Canada and overseas. Raymond James' equity research division covers nearly 1,100 companies in sectors such as energy, financial services, health care, industrials, telecommunications and transportation, mining and natural resources, real estate, consumer and technology.

Nuveen Asset Management

Assets under management: $1 trillion.

Nuveen Asset Managment has 120 years of asset management under its belt, an expertise TIAA gained in 2014 with its acquisition of the investment management company. The company invests across businesses, real estate, infrastructure, forests and farmland through its funds and separately managed accounts, or SMAs. It provides 278 investment products in all, including 141 mutual funds, 68 closed-end funds, 13 exchange-traded funds and 56 SMAs. Nuveen was also one of the first financial firms to start practicing responsible investing about 50 years ago, according to its website.

UBS Financial Services Inc.

Assets under management: $1.4 trillion at UBS Global Wealth Management Americas.

In addition to being the largest financial advisor firm in New York City, UBS Financial Services Inc. has a wide reach. With headquarters in Zurich and offices around the world, UBS has four interdependent divisions, covering wealth management, personal and corporate banking, asset management and investment banking. It also places strong emphasis on sustainable finance and was recently named the global industry leader in the Dow Jones Sustainability Index for the sixth consecutive year. Ralph Hamers, formerly CEO of ING, took the reins as Group CEO earlier this year.

Charles Schwab & Co. Inc.

Assets under management: $5.9 trillion.

Charles Schwab & Co. Inc. offers a suite of services through its various teams. The firm provides personal investing and investment-management services to individuals, advisors and employers. Those interested in a career as a financial advisor can attend Schwab's Financial Consultant Academy, a developmental program to prepare for a career as a financial consultant. After completing the program, you'll be set to start helping individuals and families with their financial needs in one of the firm's more than 300 offices. Students in their junior or senior year of college or graduate school can also explore career opportunities at Schwab through the nine-week Schwab Intern Academy.

Fidelity Personal and Workplace Advisors

Assets under management: $8.8 trillion.

With $8.8 trillion in assets under management as of Sept. 30, Fidelity Investments is the largest financial advisor in New York City, serving more than 32 million people through its individual and institutional investing services. The firm provides individual guidance through its investor centers, of which there are more than 190 in the U.S. alone, and phone guidance at some of its 12 regional offices. In addition to its strong presence across the U.S., Fidelity has offices in eight other countries in North America, Europe, Asia and Australia. Founded by Edward C. Johnson II, Fidelity remains a family-run business with Johnson's granddaughter, Abigail Johnson, currently at the helm as chair and CEO.

10 Largest Financial Advisor Firms in New York City

-- International Assets Investment Management

-- J. Safra Asset Management Corp.

-- National Asset Management Inc.

-- Wealthspire Advisors

-- HSBC Securities Inc.

-- Raymond James & Associates Inc.

-- Nuveen Asset Management

-- UBS Financial Services Inc.

-- Charles Schwab & Co. Inc.

-- Fidelity Personal and Workplace Advisors