Topping the list is Karen McDonald, at Morgan Stanley, who jumped six places from last year. She and her team in Palo Alto manage a whopping $41 billion for their clients. Colleen O’Callaghan, with Morgan Stanley in New York, is second on the list, having leaped from the sixth position last year.
A bit further down the ranking, Faith Read Xenos, with Singer Xenos Wealth Management in Coral Gables, Fla., made an impressive jump to 54 this year from 86 in 2016. And 17 advisors joined our annual ranking for the first time.
Overall, the women on this year’s list have a wealth of experience. Their average length of tenure in the industry is 29.4 years, and they’ve been with their current firms for an average of more than 21 years. In part because of the long bull market, and partly because of the growth in the size of advisors’ teams—the average team is now nearly 13 people—the typical practice manages $3.1 billion, compared with $2.8 billion back in 2012.