The Best Financial Firms
- Bank of America is the most ubiquitous consumer focused financial firm. In 2010, the company had 5,900 branches and over 18,000 ATMs in addition to 29 million customers. Based in Charlotte, the company has expanded by buying many regional banks throughout the country such as LaSalle Bank in Chicago and culminated in the acquisition of Merril Lynch in 2008. The massive bank now offers a range of products for consumers to easily access, save and borrow money.
- JP Morgan Chase is the top commercial bank in the US with millions of loans to small businesses. The company largely avoided the financial crisis of 2008 by pulling back on loans to sub-prime borrowers. This allowed the bank to retain a much healthier balance sheet and it did not need a federal bailout to stay afloat. The company can offer much better terms than its competitors for commercial loans and has experience across the entire spectrum of the market.
- Goldman Sachs has long been feared on Wall Street as the most effective and profitable investment bank. The firm uses a range of trading, underwriting and lending strategies to grow its profit. In January 2011, the company was able to capture a $500 million stake in Facebook, the hottest private company in America. Less well-know is that Goldman Sachs will probably also be able to garner several hundred million dollars in fees from the transaction by managing assets, selling shares in the company and underwriting the initial public offering.
- In 2005, Ameriprise Financial was spun-off of American Express and was quickly considered the best financial adviser for individuals. The company was founded in 1895 and by 2011 had over 10,000 agents nationwide. The company provides a range of investment and insurance advice for individuals. They will help you plan for eduction and retirement expenses as well. Ameriprise does not issue loans to consumers or businesses but can help manage the debt schedule and implications of the debt.