Finding a Top Financial Advisor Firm in Long Beach, California
Choosing the right financial advisor can be an overwhelming process. So, SmartAsset created this list of the top Long Beach financial advisor firms to make the decision a little easier. Below, we compare the services the top firms provide, what their fee structures are and what kinds of clients they specialize in working with. SmartAsset has also developed a free financial advisor matching tool that can pair you with up to three advisors who serve your area.
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| Rank | Financial Advisor | Assets Managed | Minimum Assets | Financial Services | More Information |
|---|---|---|---|---|---|
| 1 |
Halbert Hargrove
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$2,735,028,599 | No set account minimum |
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Minimum AssetsNo set account minimumFinancial Services
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| 2 |
Goldman Lancaster, Inc.
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$250,558,098 | No set account minimum |
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Minimum AssetsNo set account minimumFinancial Services
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| 3 |
Wealthspring
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$263,881,182 | None |
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Minimum AssetsNoneFinancial Services
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| 4 |
Kensington Investment Counsel
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$174,278,513 | No set account minimum |
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Minimum AssetsNo set account minimumFinancial Services
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| 5 |
Clay Northam Wealth Management
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$197,909,650 | $250,000 |
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Minimum Assets$250,000Financial Services
|
| 6 |
Prosperity Wealth Planning, LLC
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$128,428,286 | $500,000 |
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Minimum Assets$500,000Financial Services
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What We Use in Our Methodology
To find the top financial advisors in Long Beach, we first identified all firms registered with the SEC in the city. Next, we filtered out firms that don't offer financial planning services, those that don't serve primarily individual clients and those that have disclosures on their record. The qualifying firms were then ranked according to the following criteria:
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AUMFirms with more total assets under management are ranked higher. -
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Individual Client CountFirms who serve more individual clients (as opposed to institutional clients) are ranked higher. -
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Clients Per AdvisorFirms with a lower ratio of clients per financial advisor are ranked higher. -
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Age of FirmFirms that have been in business longer are ranked higher.
All information is obtained through public records and is updated annually after the firms’ form ADV filing. This list may include firms that have a business relationship with SmartAsset, in which SmartAsset is compensated for lead referrals. Such relationships have no impact on our rankings, and firms are included and ranked based strictly on the above criteria. SmartAsset is not a client of the aforementioned firms, and did not receive compensation for including any of the firms on the aforementioned list.
Halbert Hargrove
Halbert Hargrove tops the list of financial advisors in Long Beach, California. As a fee-only firm, it does not collect commissions on trades or the sale of certain products. There are no set account minimums.
The advisor team holds a wide range of certifications, including accredited investment fiduciary (AIF), certified financial planner (CFP), certified investment management analysts (CIMA), certified public accountant (CPA), certified divorce financial analysts (CDFA) and certified private wealth advisors (CPWA).
Halbert Hargrove’s financial advisor team manages assets for individuals, pension and profit-sharing plans, charitable organizations and corporations. More than half of individual clients are high-net-worth individuals.
Halbert Hargrove Background
Founded in 1933, Halbert Hargrove has been an SEC-registered investment advisor since 1988. Holding company Halbert Hargrove Holdings, LLC principally owns the firm. In addition to its Long Beach office, the firm has locations in Denver; San Diego; Costa Mesa, California; Bellevue, Washington; Scottsdale, Arizona; Houston; and The Woodlands, Texas.
At this firm, your advisor will help you decide on a package of services that are meant to address your total financial situation, not just one part of it. As a result, the services offered by this firm are relatively extensive:
- Cash flow and debt management
- Retirement planning
- College funding
- Estate planning
- Investment tax planning
- Wealth protection
- Charitable giving
- Family wealth management
- Risk management
Halbert Hargrove Investing Strategy
Clients can base their portfolios on one of three investment ideologies, depending on their desired level of risk tolerance. These include:
- Essentials (low risk) - based on commonly used, staple investments
- Lifestyle (medium risk) - based on maintaining your current lifestyle
- Legacy/estate (high risk) - based on the hope for high returns for the future
Halbert Hargrove primarily uses mutual funds, exchange-traded funds (ETFs), individual debt and equity securities and structured products. However, the firm may also use debt, equity and pooled investment vehicles in client portfolios.
Strong diversification is also a major focal point of this firm’s portfolio-building process. Rebalancing can occur at any time, as the firm claims to intently monitor your account.
Goldman Lancaster
Goldman Lancaster, Inc. is a fee-based firm. Some of the advisors may sell insurance policies or securities, and they may earn commissions from sales. The firm is a fiduciary, which requires advisors to act in your best interest.
The team of financial advisors includes one chartered retirement plans specialist (CRPS) and one certified financial planner (CFP). Most of this firm’s clients are individuals below the high-net-worth threshold. Other clients include high-net-worth individuals, pensions and profit sharing plans and 3(21) qualified plans.
Although not everyone should, anyone can open an account with this firm as there is no minimum amount of assets needed to do so.
Goldman Lancaster Background
In 1994, principal owners Glenn Goldman and Brad Lancaster co-founded Goldman Lancaster. The firm’s advisory team has spent an average of more than 20 years in the financial management industry.
For individuals, the firm offers services like comprehensive portfolio management, general financial planning, estate planning and retirement plan participant consulting. For its business clients, the firm provides risk management, corporate benefit planning, business continuity planning and qualified retirement plan services.
Goldman Lancaster Investing Strategy
Goldman Lancaster believes a long-term investing approach is best for its client portfolios. The firm uses a few different investment strategies that are mainly centered around passively managed funds, like ETFs and index funds, as well as actively managed funds. The firm may also occasionally use stocks and bonds in client portfolios.
Goldman Lancaster also thinks that diversification must be a major part of clients’ portfolios. It believes that diversification will ensure that even clients who are open to high levels of risk won’t be too dependent on any one type of investment for portfolio growth.
WealthSpring Partners
WealthSpring is a fee-based firm that caters to a diverse range of clients. They serve individuals, including high net-worth individuals, as well as pension and profit-sharing plans, charitable organizations, state or municipal government entities, and corporations or other businesses. WealthSpring does not have a minimum amount of required assets to work with the firm. There is a potential for a conflict of interest as the firm can earn commissions on the sale of certain securities. However, the firm is bound to put the needs of the clients first.
WealthSpring Background
WEALTHSPRING was founded in 2016. The firm is owned by multiple owners, with Jay Douglas and Theodore Athans serving as the principal owners. The firm currently has three advisors who are serving more than 430 clients and managing more than $260 million in assets under management (AUM). All advisors at the firm currently have earned their certified financial planner (CFP) certification, amongst others.
WealthSpring Investment Strategy
The investment strategy employed by WealthSpring, known as asset allocation, aims to balance risk and reward by diversifying portfolios among various asset classes, to spread out the risk of any portfolio. This includes investments in money market funds, real estate and various types of securities such as stocks, bonds and cash/cash equivalents. The firm also invests in equities of different capitalizations, including small, intermediate and large companies. Additionally, WealthSpring considers both domestic and foreign investments to further diversify portfolios and manage risk. The key to the strategy is to find the right allocation mix for each individual client based on their goals and risk profile.
Kensington Investment Counsel is a fee-only firm with no set account minimum. Clients are mainly individuals, the majority of whom qualify as high-net-worth. Institutional clients include charitable organizations and corporations.
Fees are charged based on a percentage of assets under management. There is one chartered financial analyst (CFA) at the firm.
There are no set account minimums.
Kensington Investment Counsel Background
Kensington was founded in 2014. The only person owning at least a quarter of the firm is advisor Richard Wimbish.
Services include investment management and financial services.
Kensington Investment Counsel Investment Strategy
Nearly all of the money held at Kensington is put into individual stocks. Some bonds are used, as are mutual funds and cash holdings.
Clay Northam Wealth Management is a fee-based firm which works mainly with individuals, nearly three-quarters of whom are not high-net-worth clients. The only institutional clients at the firm are pension and profit sharing plans.
Some advisors at the firm can earn insurance commissions, which is a conflict of interest -- bit advisors are still bound to act in the best interest of the clients when serving as an advisor. Investment management fees are based on a percentage of assets under management, and financial planning services are offered free of charge to investment management clients.
The minimum account size is $250,000. Two certified financial planners (CFPs) work at the firm.
Clay Northam Wealth Management Background
The firm was founded in 2011 by Brian Clay and Darren Northam, who still own the firm, serve as managing partners and manage all accounts.
Services include investment management and financial planning.
Clay Northam Wealth Management Investment Strategies
Around half of the money managed at Clay Northam is invested in individual stocks, with a further third put into mutual funds. The rest is split between bonds, cash holdings and private placement/limited offerings.
Prosperity Wealth Planning LLC is a fee-only firm requiring at least $500,000 to open an account. There are only individual accounts at the firm, a bit more than half of whom do not qualify as high-net-worth. There are no institutional clients to speak of.
Asset management fees are based on a percentage of assets under management, while financial planning fees can be fixed or charged hourly.
There is one certified financial planner (CFP) on staff.
Prosperity Wealth Planning LLC Background
Prosperity was founded in 2019 and is owned principally by Carolanne Chavanne, who also works as an advisor.
Services include portfolio management, financial planning and educational seminars.
Prosperity Wealth Planning LLC Investment Strategy
Nearly all of the money managed by Prosperity is invested in mutual funds. Some individual stocks are also chosen, along with bonds and cash holdings.
