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Top Financial Advisor Firms in Palm Desert, CA

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This review was produced by SmartAsset based on publicly available information. The named firm and its financial professionals have not reviewed, approved, or endorsed this review and are not responsible for its accuracy. Review content is produced by SmartAsset independently of any business relationships that might exist between SmartAsset and the named firm and its financial professionals, and firms and financial professionals having business relationships with SmartAsset receive no special treatment or consideration in SmartAsset’s reviews. This page contains links to SmartAsset’s financial advisor matching tool, which may or may not match you with the firm mentioned in this review or its financial professionals.

Finding the Top Financial Advisor Firms in Palm Desert, CA

When looking for a financial advisor in Palm Desert, California, you can easily become overwhelmed by all the factors you need to consider. To help you, we created a list of the top financial advisor firms in Palm Desert. To further your search, use the SmartAsset financial advisor matching tool. It will connect with up to three local advisors.

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Rank Financial Advisor Assets Managed Minimum Assets Financial Services More Information
1 Cypress Wealth Services, LLC Cypress Wealth Services, LLC logo Find an Advisor

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$981,562,451 No set account minimum
  • Financial planning services
  • Portfolio management
  • Pension consulting services
  • Selection of other advisers (including private fund managers)

Minimum Assets

No set account minimum

Financial Services

  • Financial planning services
  • Portfolio management
  • Pension consulting services
  • Selection of other advisers (including private fund managers)
2 FLC Capital Advisors FLC Capital Advisors logo Find an Advisor

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$458,974,985 Varies based on account type
  • Portfolio management
  • Financial planning
  • Selection of other advisors (including private fund managers)

Minimum Assets

Varies based on account type

Financial Services

  • Portfolio management
  • Financial planning
  • Selection of other advisors (including private fund managers)
3 Fortem Financial Group, LLC Fortem Financial Group, LLC logo Find an Advisor

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$317,386,972 No set account minimum
  • Financial planning
  • Portfolio management
  • Credit and cash management solutions

Minimum Assets

No set account minimum

Financial Services

  • Financial planning
  • Portfolio management
  • Credit and cash management solutions

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4 Hardworking Capital Advisors, LLC Hardworking Capital Advisors, LLC logo Find an Advisor

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$153,044,906 $250,000
  • Financial planning
  • Portfolio management
  • Selection of other advisors (including private fund managers)

Minimum Assets

$250,000

Financial Services

  • Financial planning
  • Portfolio management
  • Selection of other advisors (including private fund managers)

What We Use in Our Methodology

To find the top financial advisors in Palm Desert, 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:

  • AUM
    Firms with more total assets under management are ranked higher.
  • Individual Client Count
    Firms who serve more individual clients (as opposed to institutional clients) are ranked higher.
  • Clients Per Advisor
    Firms with a lower ratio of clients per financial advisor are ranked higher.
  • Age of Firm
    Firms that have been in business longer are ranked higher.
  • Fee Structure
    Firms with a fee-only (as opposed to fee-based) compensation structure are ranked higher.

All information is accurate as of the writing of this article. 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.

Cypress Wealth Services, LLC

Cypress Wealth Services is at the top of our list of financial advisor firms in Palm Desert. The Cypress team includes seven certified financial planners (CFPs) and one chartered retirement planning counselor (CRPC). Clients may also have acces to a retirement income certified professional (RICP) and a chartered financial analyst (CFA). 

Advisors primarily work with individuals and charitable organizations, according to SEC records. Most of their client base is made up of individuals without high net worth, which follows the fact that you don’t need a minimum investment to establish a relationship with Cypress. 

Cypress is a fee-based firm, meaning advisors who are also licensed insurance agents collect commissions from third parties in addition to fees from clients. That said, advisors have a fiduciary duty to work in the best interests of clients. Failure to do so could result in legal penalties and fines. 

Cypress Wealth Services Background 

Founded in 2017, Cypress is owned by Christian B. Risenmay, David R. Thatcher, Mark W. Thatcher, Stephen (Ross) Biesinger, Clark Penney and Shattuck (Shad) F. Lam. 

Cypress mainly provides portfolio management services, as well as financial planning, retirement planning and consulting services. It may also recommend unaffiliated third-party money managers

Cypress Wealth Services Investment Strategy

Cypress typically invests client assets across mutual funds, exchange-traded funds (ETFs), individual stocks and fixed-income securities. In certain cases, the firm may consider alternative investments if it believes they may help the client meet investment goals. Cypress employs its internal due diligence process when evaluating the securities.

The firm generally relies on long-term investing, but it may sell positions held less than a year in response to market conditions and to meet the client’s investment objectives.

FLC Capital Advisors

Also fee-based, FLC Capital Advisors provides financial consulting and investment advisory services to a wide array of clients including high-net-worth investors. Its team features three certified financial planners (CFPs). Some of these advisors earn commissions in addition to advising fees. This presents a potential conflict of interest, but advisors must act in the client's best interest as fiduciaries

The firm has no minimum investment requirement, however clients of the wrap fee program -- a suite of services provided for a bundled fee -- must have $500,000 in investable assets. FLC's client base is composed mostly of high-net-worth individuals, but the advisory also provides services to non-high-net-worth investors, pensions, profit-sharing plans and business entities. 

FLC Capital Advisors Background 

FLC Capital Advisors formed in 1996 and is currently owned by CEO Max Briggs. He leads a team that collectively has more than half a century of experience in the financial services industry. These professionals can provide consulting services such as: 

  • Investment planning
  • Retirement savings
  • Estate planning
  • Charitable giving
  • Education funding
  • Corporate and personal tax planning
  • Cost segregation study
  • Corporate structure
  • Real estate analysis
  • Mortgage and other debt analysis
  • Insurance coverage
  • Lines of credit evaluation
  • Business planning

FLC Capital Advisors Investment Strategy

FLC Capital Advisors provides investment management services through a wrap fee program, where management, brokerage and custodial fees are bundled into one. The firm may recommend investing in mutual funds, index funds, exchange-traded funds and other types of securities. It does not provide advice on warrants, options contracts on commodities, futures contracts on intangibles, interests in partnerships investing in oil and gas interests, or hedge funds and other types of private investments.

The firm relies on both strategic asset allocation and tactical asset allocation. While the former calls for setting target allocations within a portfolio and then periodically rebalancing, the latter strives to maintain a range of percentages in different asset classes.  

Fortem Financial Group, LLC

Fortem Financial Group, another fee-based firm based in Palm Desert, has a team that includes three advisors who are all accredited investment fiduciaries (AIFs) and chartered retirement planning counselors (CRPCs).

The fee-based firm manages a majority of client assets on a discretionary basis, meaning its advisors have autonomy when managing portfolios. The firm also offers a wrap fee program and provides financial planning and retirement plan consulting services. Fortem Financial Group does not impose an account minimum.

As a fee-based firm, some advisors may earn commissions when selling third-party financial products, which is a potential conflict of interest. That said, advisors must act in the best interest of the client.

Fortem Financial Group Background  

Fortem Financial is a member of the Focus Financial Partners Inc. network, a partnership of roughly 60 independently managed fiduciary wealth management firms. In turn, Focus Financial Partners, which owns approximately two-thirds of the economic interests in Focus LLC, is a public company traded on the Nasdaq Global Select Market. 

The Fortem team offers stand-alone or consulting services covering: 

  • Business planning
  • Education planning
  • Liability and risk management
  • Trust and estate planning
  • Retirement planning
  • Cash flow forecasting
  • Investment consulting
  • Insurance planning
  • Charitable giving
  • Distribution planning
  • Tax planning
  • Manager due diligence

As noted earlier, the firm offers portfolio management through a wrap fee program. This means clients pay one all-inclusive fee for advisory, brokerage and other costs associated with their accounts. Investment clients must open a brokerage account with Schwab Advisory Services to participate in this program. For financial planning or consulting services, the firm may charge an hourly or fixed fees, depending on the complexity of your needs. 

Fortem Financial Group Investing Strategy

Fortem Financial Group provides investment advice based on a client’s personal situation. Its advisors evaluate factors such as a client's risk tolerance, financial goals and time horizon. The firm may recommend various securities including individual securities like stocks and bonds, as well as pooled investments such as mutual funds.

When analyzing securities, the firm may engage in various evaluation strategies such as fundamental and technical analysis. The former involves determining the true value of a security based on such factors as the issuing company’s financial condition and the overall economic sector. Technical analysis entails predicting price movement by using historical information.

Hardworking Capital Advisors, LLC

Hardworking Capital Advisors, the fourth and final firm on our list, provides financial planning and investment advisory services to individuals, business entities, charities and more. Like all the other firms on this list, it’s fee-based, meaning advisors may earn commissions on certain transactions though they must act in the best interest of the client. The team features one certified financial planner (CFP) and a retirement income certified professional (RICP).

According to SEC records, HCA primarily works with individuals who do not have a high net worth. However, to establish an account with the firm, you typically need a minimum investment of $250,000. But the firm may negotiate smaller minimums depending on various circumstances. 

Hardworking Capital Advisors Background 

Vance Boucher, who founded HCA in 2015, serves as president and co-owns the firm with Mathew Mellier. 

The HCA team provides discretionary portfolio management services and stand-alone financial planning that can cover a range of topics, including estate planning, trust management, retirement planning and more. The firm's different levels of service start with Portfolio Navigator Services, which is investment management. Its Carefree Solutions Services include investment management, a comprehensive financial plan, financial concierge services and more. The firm also has what it calls Strategic Wealth Planner Services, which is a review of the client’s personal planning needs. Finally, you can get stand-alone financial planning from the firm, which is more in-depth and specific than what the other programs provide.

Hardworking Capital Advisors Investment Strategy

As part of the Portfolio Navigator program, advisors develop a profile of each client while taking into account factors like investment objectives, risk tolerance and liquidity needs. They then create a customized portfolio for the client and monitor it on an ongoing basis. In some cases, this portfolio may be managed in conjunction with a third-party investment manager. In evaluating securities, the firm may use charting, fundamental analysis, technical analysis and the use of cyclical analysis, as well as the monitoring of investment cycles and trends.

How Long $1mm Lasts in Retirement

SmartAsset's interactive map highlights places where $1 million will last the longest in retirement. Zoom between states and the national map to see the top spots in each region. Also, scroll over any city to learn about the cost of living in retirement for that location.

Least
Most
Rank City Housing Expenses Food Expenses Healthcare Expenses Utilities Expenses Transportation Expenses

Methodology We analyzed data on average expenditures for seniors, cost of living and investment returns to determine how many years of retirement a $1 million nest egg would cover in cities across America.

First, we looked at data from the Bureau of Labor Statistics (BLS) on the average annual expenditures of seniors. We then applied cost of living data from the Council for Community and Economic Research to adjust those national average spending levels based on the costs of each expense category (housing, food, healthcare, utilities, transportation and other) in each city. Using this data, SmartAsset calculated the average cost of living for retirees in the largest U.S. cities.

We assumed the $1 million would grow at a real return (interest minus inflation) of 2%. Then, we divided $1 million by the sum of each of those annual numbers to determine how long $1 million would cover retirement expenses in each of the cities in our study. Cities where $1 million lasted the longest ranked the highest in the study.

Sources: Bureau of Labor Statistics (BLS), Council for Community and Economic Research