Finding a Top Financial Advisor Firm in Los Angeles, California
A search for the top financial advisor firms in Los Angeles can pull up an overwhelming number of options. SmartAsset determined the top firms in L.A. In the tables and reviews below, we explain what sets these firms apart to better help you figure out which financial advisor will suit your needs.
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|Rank||Financial Advisor||Assets Managed||Minimum Assets||Financial Services||More Information|
|1||Aspiriant, LLC Find an Advisor||$13,904,709,000||No set account minimum|| || |
Minimum AssetsNo set account minimum
|2||SEIA Find an Advisor||$10,209,320,902||Varies based on account type|| || |
Minimum AssetsVaries based on account type
|3||Advanced Research Investment Solutions, LLC Find an Advisor||$12,752,266,498||$10,000,000|| || |
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|4||Churchill Management Group Find an Advisor||$6,566,607,331||$750,000|| || |
|5||Lido Advisors, LLC Find an Advisor||$7,692,386,606||$1,000,000|| || |
|6||Evoke Wealth, LLC Find an Advisor||$7,703,721,854||No set account minimum|| || |
Minimum AssetsNo set account minimum
|7||Westmount Asset Management, LLC Find an Advisor||$3,118,536,481||$2,000,000|| || |
|8||Oakmont Corporation Find an Advisor||$2,604,985,978||No set account minimum|| || |
Minimum AssetsNo set account minimum
|9||Covington Capital Management Find an Advisor||$3,584,279,172||$2 million|| || |
Minimum Assets$2 million
|10||Miracle Mile Advisors, LLC Find an Advisor||$2,012,823,371||$750,000|| || |
How We Found the Top Financial Advisor Firms in Los Angeles, California
To find the top 10 financial advisors in Los Angeles, California, we first identified all firms registered with the SEC in the state. 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:
Aspirant, LLC claims first place in our list of top 10 financial advisor firms in Los Angeles. This fee-only firm charges clients directly for services and does not collect commissions for trades or the sales of products.
The financial advisor team manages assets primarily for individuals and high-net-worth individuals, as well as investment companies, pooled investment vehicles, pensions and profit sharing plans, charitable organizations and corporations.
Aspirant generally charges clients annual management fees that are assessed as a pecrentage of assets under management, ranging from 0.2% to 1%. The firm has a minimum annual fee of $14,000, and while it doesn't impose a minimum requirement for investment portfolios, Aspirant typically works with client accounts worth $1.5 million or more.
Aspirant’s advisors hold multiple certifications, including certified financial planners (CFPs), chartered financial analysts (CFAs), certified public accountants (CPAs), certified investment management analysts (CIMAs), chartered alternative investment analysts (CAIAs), certified divorce financial analysts (CDFAs), certified private wealth advisors (CPWAs) and accredited estate planners (AEPs).
In 2017, Barron’s ranked the firm as one of the top 10 independent registered investment advisor firms.
Aspiriant, LLC Background
Aspiriant, LLC was founded in 2008. The firm is owned by a holding company, and more than 30% of the Aspiriant’s employees have an ownership stake in the firm.
Aspiriant describes its business model as “forward thinking.” Every two years, the firm’s in-house research team looks ahead 10 years into the future to identify upcoming trends and potential opportunities. They then integrate these findings into client portfolios.
Aspiriant divides its services into three boxes - investing, investing and wealth planning and a family office - though it acknowledges on its website that you “won’t fit neatly into any of them.” The firm’s service structure is fluid so clients can pick and choose what they need from those three categories. There are also services available beyond those three core offerings, including tax management, estate planning and philanthropic planning.
Aspiriant, LLC Extras
Aspiriant, LLC can help you with far more than just financial planning and investing. The firm provides divorce financial consulting through its on-staff certified divorce financial analyst (CDFA), who will work with you and your attorney to develop budgets and conduct a financial analysis.
The firm can also help with things like buying or remodeling a house and philanthropic planning. One of its unique offerings is its assistance with preparing kids for college. The firm teaches kids financial basics like managing a portion of their own investment portfolio, picking a health insurance plan and maintaining a checkbook.
Aspiriant also has a financial information blog that’s robust enough to be a freestanding website.
SEIA (Signature Estate & Investment Advisors, LLC) is a fee-based firm, which means that certain advisors are licensed to sell insurance and investment products, and could earn commissions on those transactions. However, the firm’s advisors have a fiduciary duty that requires them to act in the best interests of their clients.
Account minimum depends on the account option. Its lowest account minimum, for its equity/blended portfolios, is $250,000. For the fee-based firm’s fixed-income portfolios, it’s $500,000.
SEIA's financial advisor team holds many certifications, including certified financial planners (CFPs), accredited investment fiduciaries (AIFs), chartered mutual fund counselors (CMFCs), chartered financial consultants (ChFCs) and chartered life underwriters (CLUs).
SEIA was founded in 1997. Its principal owner is Brian Holmes, the firm’s founder, president, CEO and secretary.
The firm offers five different types of wealth management services:
- Signature Elite: A six-step investment management process that helps clients identify their financial goals.
- Signature Allocation Series (S-Series & M-Series): The six-step process combined with investment supervisory services.
- S-Series has four model platforms with different asset classes and investment styles and vehicles.
- M-Series consists of two model platforms. Trading is conducted through Envestnet’s Unified Management Account service.
- Financial planning, either modular or comprehensive
- Investment consulting
- Retirement plan consulting
In addition to these offerings, the firm also offers seminars, which include presentations on current events, economic trends, market cycles, financial planning strategies and investment fundamentals.
SEIA Investment Strategy
At SEIA, clients can select which areas of the community and society they want to invest in. The firm says on its website that it has done the “due diligence and research necessary to provide all types of socially responsible funds.” Some of the areas it may consider are a company’s environmental impact, its social impact and its governance.
SEIA’s Department of Investment Management and Economic Strategy (DIMES) heads up the firm’s research and development of its asset allocation strategies for portfolios. The team is guided by the principles of strategic macro asset allocation, which considers asset class and style and tactical micro allocation, which looks at business cycles, global and domestic economic conditions and event-driven opportunities.
SEIA portfolios are primarily composed of stocks, bonds, mutual funds, closed-end funds, exchange-traded funds, exchange-traded notes and options.
Advanced Research Investment Solutions, LLC
Advanced Research Investment Solutions, LLC is a fee-only firm with a very high minimum investment of $10 million. The financial advisor team works mostly with high-net-worth indviduals, and institutional clients that include pooled investment vehicles, pension and profit-sharing plans, charitable organizations, guilds and health plans.
Team advisors hold multiple certifications, including chartered financial analysts (CFAs), certified financial planners (CFPs), chartered life underwriters (CLUs) and chartered financial consultants (ChFCs).
Fees are based on a percentage of assets under management.
Advanced Research Investment Solutions, LLC Background
Advanced Research Investment Solutions, LLC Investment Strategy
Churchill Management Group
Churchill Management Group is the oldest firm on this list - founded in 1963. This a fee-only firm, meaning it only receives compensation from client-paid fees. Annual management fees are assessed as a percentage of the client’s assets under management, ranging from 0.6% to 1.2%. The firm also has a minimum accouint requirement of $750,000.
Churchill's advisor team manages assets for high-net-worth individuals, as well as other individual accounts. Institutional clients include pooled investment vehicles, pension and profit-sharing plans, charitable organizations, corporations,and nondiscretionary accounts.
In 2016, Barron's named the firm's CEO, Fred Fern, the No. 1 independent financial advisor in the nation. He ranked among the top financial advisors for the state of California in 2017.
Churchill Management Group Background
Fred Fern founded Churchill Management Group in 1963. He remains the firm’s CEO and chairman, as well the chair of the Churchill Management Group Investment Team, which manages all of the firm’s investment accounts. Fern is also the firm’s controlling owner.
He is also the owner of a licensed California real estate broker, Chartwell Properties, Inc. If Churchill clients invest in the firm’s limited real estate partnerships, Chartwell will receive property management fees.
Churchill Management Group Investment Philosophy
Churchill’s investment philosophy is centered on the belief that financial markets and economic environments move cyclically. The firm believes that different investments provide different results depending on the point of the market cycle. Thus, Churchill views the market cycle as a reference point for its investment decisions.
The firm primarily invests its clients in equity and equity-related securities that are publicly traded. Churchill offers eight different securities management strategies: premier wealth tactical and premier wealth tactical core, ETF sector rotation, premier wealth tactical core/ETF sector rotation, equity growth and value, equity dividend income, maximum growth tactical, tactical opportunity and balanced accounts with each equity strategy, aside from maximum growth tactical.
Lido Advisors, LLC
Lido Advisors, LLC is a fee-based firm that generally requires a $1 million account minimum. The firm predominantly serves high-net-worth individuals, but it also serves individuals, as well as institutional clients, including pooled investment vehicles, corporations and businesses and ERISA pooled plans.
Certifications earned by advisors at the firm include certified financial planner (CFP), certified public accountant (CPA), certified investment management analyzt (CIMA), accredited investment fiduciary (AIF), chartered retirement planning counselor (CRPC), chartered retirement plans specialist (CRPS), chartered financial counslor (ChFC), accredited wealth management advisor (AWMA) and chartered financial analyst (CFA).
Certain Lido representatives are also representatives of a securities broker-dealer and those individuals may receive commissions or fees for the sale of these products in a client’s advisory account. However, Lido Advisors typically lowers the advisory fees that such clients pay to offset the net commissions that Lido representatives may receive.
Lido Advisors, LLC Background
Lido Advisors, LLC was founded in 2001. The firm is majority owned by Lido Advisors Holding, a limited liability company whose sole shareholder is Gregory Kushner, Lido’s chairman and CEO. The firm is also partially owned by K & W, LLC, a limited liability company in California.
The firm’s namesake is an island reef called a lido that separates the lagoon of Venice, Italy, from the Adriatic Sea. The firm, like the lido, sees itself as a protector against tumultuous, sometimes troubled waters. Its services include investment management and asset allocation, financial planning, retirement planning and estate planning.
Lido Advisors, LLC Investment Strategy
Lido Advisors, LLC goes beyond using just stocks and bonds. As a way to manage volatility and to work toward clients’ goals, the firm aims to invest in assets that are not highly correlated. Lido Advisors invests its clients’ assets in the traditional asset classes of fixed-income and domestic inequities, but it also uses foreign securities, American depository receipts (ADRs), hybrid offerings, liquid and non-liquid alternative investments, non-liquid fixed-income investments and cash.
As part of its Thinking Outside the Style Box approach, the firm says that it aims to implement a strategy while remaining flexible enough to pounce on opportunities that may appear. The firm has five core strategies: fixed income, stock strategies, hedged hybrid equity strategy, alternatives and real estate.
Evoke Wealth, LLC
Evoke Wealth, LLC is a fee-only firm, which means that advisors do not earn commissions for selling insurance or securities. The firm works primarily with high-net-worth individuals and institutional clients that include pooled investment vehicles and corporations.
While Evoke does not have a minimum fee or account requirement for clients, asset management fees are generally based on a percentage of assets under management, which range between .2% and 1%.
Evoke Wealth, LLC Background
Evoke Wealth, LLC Investment Strategy
- Corporate bonds
- U.S. government and muncipal debt securities
- Mutual funds
- Structured products
Westmount Asset Management, LLC
To be a client of this fee-only Los Angeles firm, you’ll need at least $2 million. Westmount Asset Management describes its typical client as a person who is “successful, mature and established” with wealth that is “self-made.”
The firm works primarily with high-net-worth indviduals and other individuals. Institutional clients include pooled investment vehicles, pension and profit sharing plans, charitable organizations and corporations.
The Westmount Asset Management advisor team holds multiple certifications. These include six certified financial planners (CFPs), two chartered financial analysts (CFAs), one certificate in investment performance measurement (CIPM), one certified investment management analyst (CIMA), and two chartered alternative investment analysts (CAIAs).
The firm is fee-only, so clients can only pay fees based on their investments and services. No commissions are paid to advisors at this firm.
Westmount Asset Management, LLC Background
Westmount Asset Management, LLC was founded in 1990 by a father-and-son duo, veteran entrepreneur Bob Berliner and former federal prosecutor Jim Berliner. Bob is the firm’s chairman and Jim is the firm’s president and chief investment officer. The firm is owned by Westmount Asset Management, Inc. and Rosemont Partners II, LP., a private equity firm.
Westmount claims on its website that it was one of the first firms to adopt the fiduciary advisor model. It also says it was an industry leader in delivering institutional-style investing for individuals and offering access to real estate and other alternative investments.
In addition to its investing services, the firm also offers financial planning services including retirement planning analysis, cash-flow modeling, Monte Carlo projections and guidance on Social Security claiming strategies.
Westmount Asset Management, LLC Investment Strategy
Westmount Asset Management, LLC doesn’t limit itself to the conventional. While the firm uses traditional investments like stocks and bonds, it has an open mind toward complementing those with a range of alternative investments. Similarly, while the firm primarily opts for long-term investing, it will also take advantage of any short-term opportunities that may arise.
Clients also have the flexibility to shape their portfolios as they wish. Westmount allows clients to place restrictions on their accounts, such as on specific holds or cash minimums or maximums.
Oakmont Corporation ranks eighth on the top 10 financial advisor list in Los Angeles. As a fee-only firm, it does not collect commissions on trades or the sale of certain products.
The firm’s advisors manage assets for individuals and high-net-worth individuals. Other clients include pooled investment vehicles and corporations.
Oakmont generally charges clients annual management fees that are assessed as a percentage of the assets, ranging from .75% to .85%. The firm may also charge additional or stand-alone fixed annual fees based on specific services, but these could be negotiated or waived.
Clients typically are not required to have accoiunt minimums at Oakmont.
Oakmont Corporation Background
Formed in 1980, the firm is owned by Robert Day, who is also the chairman and co-manages the firm’s portfolios with Andrew Katz.
Oakmont provides a variety of client services, including investment and financial planning, as well as a variety of administrative services.
Oakmont Corporation Strategy
Clients generally have long-term investment horizons with a focus on long-term capital appreciation. The firm relies on fundamental research and analysis to measure the value of its investments. It’s philosophy prioritizes individual investment selection over market timing.
Covington Capital Management
Covington Capital Management is a fee-only firm, which means that it does not collect commissions on trades or sales of products.
The firm manages assets primarily for high-net-worth individuals, as well as non-high-net-worth individuals, trusts, retirement accounts (which include IRAs, corporate pensions and profit sharing plans), and charitable organizations.
Covington generally charges clients annual management fees that are assessed as a percentage of the assets, ranging from .5% to 1%. The firm has a minimum account requirement of $2 million.
Covington Capital Background
Founded in 2004, Covington is an independent investment advisor that is registered with the Securities and Exchange Commission. Chief executive officer Richard E. Azarloza, managing director Gary H. Arakawa, managing director Craig B. Burger and chairman Jeffrey L. Glassman are the main owners, although none of them hold more than 25% of the firm.
Covington Capital Strategy
Covington customized portfolio strategies based on their client’s risk tolerance, investment horizons and goals.
The firm offers a variety of services, including cash flow planning, education planning, retirement planing, investment planning, income tax planning, risk and insurance planning, business financial planning and trust and estate planning.
Miracle Mile Advisors, LLC
Miracle Mile Advisors, LLC rounds out the top 10 financial advisor firms in Los Angeles. To be a client, you’ll typically need at least $750,000 under management with the firm. The advisor team works mainly with high-net-worth clients and other individual accounts, as well as pension and profit-sharing plans, charitable organizations and businesses.
As a is a fee-based firm, advisors may take commissions for trades and the sales of products. While this could be a potential confilct of interest, Miracle Mile has a fiduciary obligation to put the interests of clients first.
Miracle Mile Advisors, LLC Background
Founded in 2007, Miracle Mile Advisors, LLC is majority owned by Brock Moseley, head of the firm’s Investment Committee and Risk Management Committee, and Duncan Rolph, a principal of the firm.
As part of the firm’s commitment to open communication, its advisory team meets with its clients regularly and the firm also routinely publishes portfolio updates, research and notes to keep clients in the loop. The firm also has what it describes as an “institutional-caliber technology platform” so clients can always easily access their financial information.
Miracle Mile Advisors, LLC Investment Strategy
Miracle Mile Advisors, LLC strives to customize the allocation of assets according to each client’s risk tolerance and investment goals. The firm relies on in-house and external research to make its investment decisions.
Miracle Mile Advisors primarily invests its clients in low-cost, tax-efficient exchange-traded funds, as well as bonds and index funds. It may also use private investment funds and hedge funds. It will create a portfolio around previously held individual securities if a client requests that it maintain positions in certain concentrated individual securities.
The firm keeps an eye toward tax efficiency and it implements ongoing tax-loss harvesting.