Douglas Ralston

Senior Vice President, Private Client Advisor

Professional Profile

Douglas Ralston is a Senior Vice President and Private Client Advisor with U.S. Trust, Bank of America Private Wealth Management, in Chicago. Doug provides intensive outreach and in-depth guidance to a select group of high net worth clients who have sophisticated wealth management needs. He leads a team of in-house specialists who provide integrated strategy, tactics, and service in multiple areas: portfolio management, trust and estate planning services, family office services, banking and lending, and philanthropy. As a veteran advisor to accomplished families, Doug combines insight and understanding, helping clients enact thoughtful and informed strategies to deploy, preserve, and transfer their wealth effectively.

Doug has significant experience advising private business owners about the intersection of their personal and professional finances. He brings extensive knowledge of business sales, transitions, recapitalizations, and other liquidity events. In addition, he has worked with multiple generations of families to streamline their wealth, fostering sound stewardship and active decision-making. As the key point of client contact, Doug enjoys developing deep bonds that testify to his sincere engagement with a family’s success.

Doug has worked in wealth management and investing since 1999. Prior to joining U.S. Trust, he led Ralston Advisory Services, a boutique investment and wealth management advisory firm in Chicago. In this capacity, he consulted to family offices, endowments, foundations, and business owners. Previously, Doug operated and subsequently sold a privately-held business, providing him with first-hand understanding of this critical period in an entrepreneur’s life.

Doug earned his B.A. in Economics from Indiana University and his M.B.A. from Northwestern University’s Kellogg School of Management, where he concentrated in Finance and Strategy.

Doug lives in Long Grove, Illinois, with his wife; they have three grown children.

Our Team

Our team is comprised of talented and experienced individuals committed to building strong client relationships based on trust and personal experience.

Note: These team members are a shared resource, involved in your wealth management plan as appropriate and are subject to change

Advisor Image

Steven A Stein

Portfolio Manager


Jesse J Herr

Private Client Manager


David M Kushnir

Senior Trust Officer


Key Contacts

Mary (MaryPat) Pat Heisterman


Let's Have A Conversation

We take the time to listen and learn about you and your family before creating strategies that aim to meet your needs, goals and best interests now and in the future


You don’t define your wealth by numbers alone, but also by the opportunities it provides. For more than 200 years, U.S. Trust has helped clients navigate the complex challenges of managing significant wealth. We draw on U.S. Trust’s personalized approach and private banking services, as well as the resources of Bank of America Corporation, to help individuals and families, businesses, and institutions achieve their financial objectives. Whether you’re looking to preserve and share wealth, build philanthropic legacies or plan for future growth, our commitment is to make your goals our priority.

At U.S. Trust, we take pride in our history and in serving our clients’ best interests. We also value the continual pursuit of innovation in a constantly transforming world. We apply this perspective to help our clients anticipate and respond to evolving markets, changing environments and the growing complexities of the financial landscape. Mindful of the past, our focus is on providing today’s clients with disciplined financial strategies and a bridge across generations.