One of the largest economies in the world, California has such a range of industry and has grown in such a short time that the state is rich with not only cash but success stories. Yet as people pour into their work in order to find additional success or break into the fold, they might not have time to manage their finances as effectively as they would like to. A financial advisor is just what these people (including yourself) need.
Here are our top five picks for a financial advisory firm for California:
1) Hall Capital Partners
Hall Capital Partners is our top choice, and the San Francisco firm, with $36 billion in assets under management, is by far the largest firm on this list. Majority-owned by the employees, they take pride in their independence from outside influences. They are also the most global of the firms on this list, with offices in New York and an emphasis on taking global opportunities for their clients.
They will recommend and utilize a wide range of asset classes for clients and take a long-term investing strategy.
Hall Capital Partners is a fee-only firm and charges a minimum annual fee of $400,000. We only recommend them to very high net worth individuals.
You can expect the following working with Hall Capital Partners:
- An incredible infrastructure and benefits that can only come from a relatively massive firm.
- The extensive use of research in all their decision making, and a dedicated research team larger than most firms.
- Experience working with the highest net worth clients. If you fall into this category, they’ll under your needs like no other firm.
2) Aspirant, LLC
Our second choice and our largest choice for Los Angeles, Aspirant has over $12 billion in assets under management. Being so large, they have an excellent staff and a large dedicated research team that ensures that neither they nor you will have to rely too much on outside opinions and information.
They take a forward-thinking approach to investing, relying on prediction models and heavy amounts of that previously mentioned research. They will always be on the lookout for new opportunities on behalf of their clients.
Aspirant is a fee-only firm that requires a $1.5 million account minimum to work with.
You can expect the following working with Aspirant, LLC:
- A focus on maximizing the customizability of each plan so you get exactly what you need in terms of advice and management.
- A large research staff that can keep perfect tabs on the movements on the market.
- The ability to create a comprehensive view of your financial status and life, allow you to get more effective advice.
3) Baker Street Advisors
Baker Street Advisors, another San Francisco firm with $7.2 billion in assets under management, is our third choice for the state of California. Also usually working with high net worth individuals, the founders and senior advisors all have decades of experience they will put to work for you. You will work with at least one founder and one senior advisor when you are a client with Baker Street Advisors.
The firm provides all the financial planning, investment services, and longer-term wealth planning services that you and your family would need.
Baker Street Advisors is a fee-only firm that requires a $5 million account minimum.
You can expect the following working with Baker Street Advisors:
- Tax optimization built into your general financial planning strategy.
- Efficiency-focused efforts and advice. Baker Street Advisors will not waste your important time.
- An emphasis on making information easy to understand for clients.
4) Churchill Management Group
Churchill Management Group, a Los Angeles firm with about $5.5 billion in assets under management, takes our number four spot. A more cautious and patient firm than most, they date back to 1962 and their advisors have seen nearly every scenario before, making them a steady hand in a sometimes-uncertain economic environment.
Well-regarded by publications near and far, they have used the same strategy for years to see clients through boom and bust cycles. They will work with you great to determine your goals and communicate with you regularly.
Churchill Management Group is a fee-based firm that requires $750,000 in assets to work with them.
You can expect the following working with Churchill Management Group:
- A belief in using standard investing strategies and a belief that there are times to take risks and times to ask conservatively.
- A Big-picture approach to investing that makes them best for clients looking for long-term gains.
- A focus on your goals and needs before anything else.
5) Halbert Halgrove
Long Beach-based Halbert Halgrove is a bit of a smaller firm than the other selections here with $2.52 billion in assets under management, but this is made up for in institutional experience (having been around since 1933) and the ability to survive every test the market has thrown at it. They are an excellent choice for those who value that stability or for those encouraged by the fact that they have other offices throughout the country.
They have a variety of different strategies to use, and they are at once open to new ventures and happy to take a conservative approach for more cautious clients.
Halbert Halgrove is a fee-only firm that has no asset or account requirements of note, but you will still want to check their fees.
You can expect the following working with Halbert Halgrove:
- Strategies and plans revolving strictly around your priorities.
- A relationship with your advisor that will likely last much longer than most other client-advisor partnerships.
- A choice of and use of several different general investing strategies depending on your needs and risk tolerance.
Just based on the sheer size of the state, we understand that the above five choices will likely not reflect every person’s needs. However, we think the above five choices are great starting points and suggest you review our recommendations for your city as well when performing necessary additional research. No matter your choice, we hope that you find the perfect fit.