Abbot Downing, a $38 billion boutique serving ultra-high-net-worth individuals, families and foundations, has been recognized as the “Best National Private Asset Manager” at the third annual  Family Wealth Report Awards  in New York City. Abbot Downing— with its 46-year history serving the ultra-affluent —is part of Wells Fargo’s Wealth and Investment Management group, a leading U.S. wealth manager, with $1.6 trillion in client assets.

Abbot Downing also was recognized for delivering an out-sourced chief investment officer service that enables Abbot Downing to customize solutions within an objective, fiduciary environment. The award also noted the firm’s low client-to-relationship manager ratio (generally 15:1), and its integrated approach to delivering a full range of services.

"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.”

ClearView Financial Media’s CEO, and Publisher of Family Wealth Report, Stephen Harris, presented the award. He noted that the awards recognize the very best operators in the private client industry, with ‘independence’, ‘integrity’ and ‘genuine insight’ the watchwords of the judging process - such that the awards truly reflect excellence in wealth management.

Showcasing ‘best of breed’ providers in the global private banking, wealth management and trusted advisor communities, the awards at the Mandarin Oriental were attended by more than 350 leaders in the wealth industry from more than 85 firms. The program was designed to recognize companies, teams and individuals which the panel of judges deemed to have ‘demonstrated innovation and excellence during 2015’.

About Abbot Downing

Abbot Downing is a leading provider of financial services to ultra-high-net-worth individuals and families, as well as foundations and endowments, in all 50 states. Teams of local professionals are dedicated to each client family to provide specialized knowledge in asset management; trust, fiduciary, and administrative services; private banking and custom credit solutions; and planning and family dynamics services. The firm has $38 billion in client assets and ranks as the world’s 11th-largest family office based on assets, according to the 2015 Bloomberg Markets survey. The original Abbot Downing built the iconic stagecoaches that have come to represent Wells Fargo.

About Wells Fargo

Wells Fargo & Company (NYSE: WFC) is a diversified, community-based financial services company with $1.8 trillion in assets. Founded in 1852 and headquartered in San Francisco, Wells Fargo provides banking, insurance, investments, mortgage, and consumer and commercial finance through 8,700 locations, 13,000 ATMs, the internet (wellsfargo.com) and mobile banking, and has offices in 36 countries to support customers who conduct business in the global economy. With approximately 265,000 team members, Wells Fargo serves one in three households in the United States. Wells Fargo & Company was ranked No. 30 on Fortune’s 2015 rankings of America’s largest corporations. Wells Fargo’s vision is to satisfy our customers’ financial needs and help them succeed financially. Wells Fargo perspectives are also available at Wells Fargo Blogs and Wells Fargo Stories.

About ClearView Financial Media Ltd (“ClearView”) and Family Wealth Report Awards

ClearView Financial Media was founded by Chief Executive, Stephen Harris in 2004, to provide high quality ‘need to know’ information for the discerning private client community. London-based, but with a truly global focus, ClearView publishes the Familiy Wealth Report group of newswires, along with research reports and newsletters, while also running a pan-global thought-leadership events programme.

With teams based in London, Singapore, Switzerland, South Africa and the Philippines, the company is one of the fastest-growing media groups serving the financial services sector.

Nominations for the Family Wealth Report award categories were submitted by their firms. These awards were judged solely on the basis of entrants’ submissions and their response to a number of specific questions, which had to be answered focusing on the client experience, not quantitative performance metrics. They also must not have a record of a broker-dealer license suspension or revocation in any jurisdiction at any time. Being named to the “Best National Private Asset Manager” list is not an endorsement and is not indicative of past or future investment performance.

Abbot Downing, a Wells Fargo business, provides products and services through Wells Fargo Bank, N.A. and its various affiliates and subsidiaries.