The battle for the high-net-worth and ultra high-net-worth client is heating up. In recent weeks, wealth managers of all stripes have announced plans to strengthen their services for their most affluent clients.
BNY Mellon Wealth Management, a firm with a long record of serving wealthy families, recently announced the opening of its first office in Washington, D.C. as part of a strategic push to be in the top 10 U.S. wealth markets where ultra high-net-worth individuals are concentrated. Its entry into Washington not only accomplished that goal, said Larry Hughes, CEO of BNY Mellon Wealth Management, but it also got BNY Mellon into 16 of the top 25 markets.
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