Top 10 U.S. Investment & Brokerage Firms (by Assets Under Management and Influence)
Here’s a clearer, up‑to‑date breakdown of the top 10 U.S. investment & stock‑trading companies, based on assets under management (AUM) and brokerage prominence:
Top 10 U.S. Investment & Brokerage Firms (by Assets Under Management and Influence)
1. BlackRock
- AUM: Approximately $10.47 trillion as of March 2024 (Wikipedia).
- Overview: The world’s largest asset manager, offering mutual funds, ETFs (notably iShares), and institutional solutions.
2. Vanguard Group
- AUM: Around $10.4 trillion as of January 31, 2025 (Wikipedia).
- Overview: Co-founder of index investing, major provider of low-cost mutual funds and ETFs; also a brokerage service.
3. Fidelity Investments
- AUM: Discretionary AUM of $5.8 trillion, plus $15.1 trillion in assets under administration as of 2024 (Wikipedia).
- Overview: Offers a full suite of brokerage services, retirement plans, mutual funds, wealth management, and more. One of the largest 401(k) providers.
4. State Street Global Advisors (State Street)
- AUM: About $4.3 trillion (March 2024) (Wikipedia); other sources note $4.7 trillion in 2024 (Wikipedia).
- Overview: Major institutional asset manager and custodian, provider of SPDR ETFs, part of the “Big Three” index fund managers along with BlackRock and Vanguard.
5. Morgan Stanley
- AUM: Roughly $1.5 trillion after acquiring E*TRADE (thecollegeinvestor.com, thebestworldevents.com).
- Overview: Combines investment banking, wealth management, and brokerage services.
6. J.P. Morgan (Asset Management / Brokerage)
- AUM: Between $3.2 trillion – $3.6 trillion (Investopedia, Money Lowdown, Wikipedia).
- Overview: Offers full-range brokerage, robo-advisory, and personalized wealth management tied to Chase banking.
7. Capital Group
- AUM: Around $2.6 trillion ($2,600 billion) as of March 2024 (Wikipedia).
- Overview: Famous for American Funds; active fund manager focused on long-term, research-driven investing.
8. Edward Jones Investments
- AUM: Approximately $2.2 trillion in Q2 2023 (Wikipedia).
- Overview: Retail-focused brokerage with a distinctive branch-office model, strong personal advisor presence.
9. Goldman Sachs
- Assets under supervision: Around $2.81 trillion in 2023 (thecollegeinvestor.com).
- Overview: Traditional investment bank that also offers wealth management, asset management, and advisory services.
10. T. Rowe Price (or TIAA as alternative)
- T. Rowe Price AUM: Approximately $1.45 trillion (thecollegeinvestor.com, Investguiding).
- TIAA AUM: Approximately $1.3 trillion (thecollegeinvestor.com, Investguiding).
- Overview: T. Rowe Price specializes in retirement plans and mutual funds. TIAA is a major player in 403(b) plans for education and non-profit workers.
Summary Table
| Rank | Company Name | Approx AUM (latest) | Core Focus |
|---|---|---|---|
| 1 | BlackRock | $10.47 trillion | Asset management, ETFs |
| 2 | Vanguard Group | $10.4 trillion | Low-cost index funds, ETFs |
| 3 | Fidelity Investments | $5.8 trillion (discretionary) | Brokerage, mutual funds, retirement |
| 4 | State Street Global Advisors | $4.3–$4.7 trillion | Institutional custody, ETFs |
| 5 | Morgan Stanley | $1.5 trillion | Brokerage + wealth & investment banking |
| 6 | J.P. Morgan | $3.2–$3.6 trillion | Full-service brokerage & advising |
| 7 | Capital Group | $2.6 trillion | Active mutual funds |
| 8 | Edward Jones | $2.2 trillion | Retail brokerage network |
| 9 | Goldman Sachs | $2.81 trillion (supervision) | Wealth management & banking advisory |
| 10 | T. Rowe Price / TIAA | $1.45 / $1.3 trillion | Retirement, mutual funds |
Additional Insights
- Brokerage prominence vs. AUM: While AUM gives scale, brokerage footprint matters too. Firms like Charles Schwab and Merrill are highly notable in the U.S., with Schwab boasting $9.4 trillion in AUM and ~35.6 million brokerage accounts (Investopedia, heisjohn.com). Merrill (via Merrill Lynch) sits around $2.75 trillion in AUM (Benzinga, thecollegeinvestor.com).
- Hedge Funds: If you’re also curious about top U.S. hedge funds:
- Notable names include Citadel LLC, Bridgewater Associates, D.E. Shaw, Renaissance Technologies, AQR, Two Sigma, and others (Investopedia, Reddit).
- Example: Citadel LLC manages around $65 billion in AUM as of February 2025 (Wikipedia).
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