The states with the most AUM
August 10, 2017 | Harry Zhang | Financial Planning
Though Miami and New York are coastal magnets for advisers, those who have made the Midwest home have reaped trillions in assets.
The region is rich with wealthy families and thriving businesses — and advisory firms can speak to its fertility: those based in the middle of the country have amassed more assets under management than peers in the West and the South, according to SEC filings.
“It is one of those hidden gems,” says Carol Shleif, CIO of Abbot Downing, an affiliate of Wells Fargo focusing on ultrahigh-net-worth clients. “A unique mix of education, healthcare, Fortune 500 companies and small companies as well.”
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