Financial Times’ publications The Banker and Professional Wealth Management have named Boston Private the Best Private Banking Boutique in the U.S. in the annual Global Private Banking Awards. The awards program recognizes private banks for excellence based on qualitative and quantitative criteria.

Private banking firms are invited to provide growth and performance data as well as an executive summary of their achievements. The submissions are judged by an expert panel of fifteen industry professionals based in North America, Asia, Europe and the Middle East.

Boston Private was recognized for its growth and commitment to client service. The firm’s AUM growth over the last year is attributable to three main factors: the integration of its KLS subsidiary in New York, which ensures broader delivery of their deep technical expertise; the onboarding of new advisor talent across all of its geographies, which has been and will continue to be a priority as the firm continues to pursue its aggressive growth goals; and finally, an unyielding focus on client service, which has led to extremely high client retention rates.

“We aspire to be a nationally recognized destination for clients of substantial wealth and complexity of need – and the advisors who serve them,” said Paul Simons, President of Private Banking, Wealth and Trust. “From our perspective, ‘boutique’ is not a size threshold, but a definition of how we serve our clients. We firmly believe it’s possible to both scale and maintain boutique-level service.”

Global Private Banking Award winners were recognized in the print and online editions of The Banker and Professional Wealth Management, as well as in an award ceremony held on November 5, 2020.