Abbot Downing has been recognized the “Best National Private Wealth Manager” at the inaugural Family Wealth Report Awards in New York. Abbot Downing–created by merging two existing Wells Fargo businesses in April 2012–was recognized for quickly bringing together a broad and inclusive platform to manage the complex multidimensional needs of ultra-high-net-worth clients. The firm, which has $36.9 billion in client assets, is part of Wells Fargo’s Wealth, Brokerage and Retirement group, a leading U.S. wealth manager, with $1.7 trillion in client assets. Abbot Downing also was noted for having a low client-to-relationship manager ratio (15:1) and for having a comprehensive platform for communicating with clients across generations. "We are delighted to be named the winner of this prestigious award by a respected panel of industry judges,” said Jim Steiner, president of Abbot Downing. “Our clients look to us to preserve and grow their wealth, while addressing the impact of wealth on the family across generations. We work with them to develop a customized plan for asset management, banking, trust services and family dynamics that enables them to leave a legacy of purpose.” Stephen Harris, CEO of ClearView Financial Media and publisher of Family Wealth Report, said, “These awards recognize the very best operators in the private client industry. With a judging process based on independence, integrity and genuine insight, the awards truly reflect excellence in wealth management.” Showcasing ‘best of’ providers in global private banking and wealth management, the awards were designed to recognize companies, teams and individuals whom the panel of judges deemed to have demonstrated innovation and excellence during 2013. The event at the Metropolitan Club in New York was attended by more 300 Family Wealth professionals from 70 firms. About Abbot Downing Abbot Downing, which has a 40-year history serving ultra-high-net-worth clients, provides planning, asset management, private banking, family dynamics and education, and trust, fiduciary and administrative services to more than 600 clients. The firm serves clients in all 50 states through offices in San Francisco, Los Angeles, Scottsdale, Minneapolis, Chicago, Houston, New York, Philadelphia, Washington, D.C., Winston-Salem, Palm Beach, Naples and other regional offices. Abbot Downing is the world’s eighth-largest family office based on assets, according to the 2013 Bloomberg Markets survey. The original Abbot Downing built the iconic stagecoaches that have come to represent Wells Fargo.
About Wells FargoWells Fargo & Company (NYSE: WFC) is a nationwide, diversified, community-based financial services company with $1.5 trillion in assets. Founded in 1852 and headquartered in San Francisco, Wells Fargo provides banking, insurance, investments, mortgage, and consumer and commercial finance through more than 9,000 stores, 12,000 ATMs, and the Internet ( wellsfargo.com), and has offices in more than 35 countries to support the bank’s customers who conduct business in the global economy. With more than 270,000 team members, Wells Fargo serves one in three households in the United States. Wells Fargo & Company was ranked No. 25 on Fortune’s 2013 rankings of America’s largest corporations. Wells Fargo’s vision is to satisfy all our customers’ financial needs and help them succeed financially. Wells Fargo perspectives are also available at blogs.wellsfargo.com.