GenSpring Family Offices, the multi-family office affiliate of SunTrust Banks, Inc., has been ranked as the number one competitor by firms within the multifamily office industry, according to a Family Wealth Alliance (FWA) survey.
GenSpring’s top ranking reflects the growing interest in fee-based advice within the overall wealth management industry, the FWA survey results further reveal.
Go deeper with GlobalData
Access deeper industry intelligence
Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.
GenSpring took over first place in 2012 from the previous top ranking firm, which had held the spot for the preceding eight years.
The FWA senior managing director for research, Robert Casey, said: "GenSpring is now seen as the top competitor in the multifamily office industry. This reflects GenSpring’s expanding national footprint and its increasingly important position in the marketplace."
GenSpring CEO, Thomas Carroll, said: "Our unwavering commitment to objective advice and exceptional service led to this recognition by our peers, and the growing acceptance of our value proposition, which is based on trust, expertise and service."
Genspring, which has US$20 billion in assets under advice and a total of 330 staff, is the largest multi-family office globally. Its clients are spread across 17 counties. Overseas operations are currently conducted out of its Miami office, which was acquired along with many of Genspring’s international clients when it bought TBK Investments, set up by Ulloa in 2000.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
