Finding a Top Financial Advisor in Sacramento, California
Entrusting your financial future to a stranger is never easy. That’s where we come in. We’ve researched the top advisor firms in Sacramento, California, giving you all the details you need to get a grasp of each company in the list below. If you’re still undecided, you can try our financial advisor pairing tool for a tailored recommendation.
|Rank||Financial Advisor||Assets Managed||Minimum Assets||Financial Services||More Information|
|1||Hanson McClain Advisors Find an Advisor||$2,076,661,300|| |
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|2||Genovese Burford & Brothers Wealth and Retirement Plan MGMT Find an Advisor||$1,376,374,400|| |
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|3||Brown Robello Capital Management Find an Advisor||$195,038,200|| |
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How We Found the Top Financial Advisor Firms in Sacramento, CA
We only looked at financial advisor firms registered with the U.S. Securities and Exchange Commission (SEC). SEC-registered companies meet a certain assets under management threshold, are fiduciaries and must file paperwork with the government each year, which means more oversight and accountability. That means many firms didn’t even make the initial cut. Further criteria included eliminating firms with disclosures or disciplinary actions and any firm that doesn’t manage individual client accounts. We then ordered the list by assets under management, from most to least.
Hanson McClain Advisors
Hanson McClain Advisors takes our no. 1 spot due to having over $2 billion in assets under management. This fee-based firm has 23 employees serving in an advisor capacity and manages more than 8,600 accounts.
Hanson McClain offers retirement planning and investment management to clients with at least $100,000. You can find offices in not only Sacramento, but in other parts of California, namely Roseville, Folsom and the Bay Area, as well as in Denver, Colorado and Cincinnati, Ohio.
Hanson McClain Advisors Background
Scott Hanson and Pat McClain started the company more than 20 years ago after working for large financial services companies themselves. They started the firm determined to have a collaborative and client-centric practice. Hanson McClain grew after giving hundreds of free retirement workshops; the duo also helm a radio show called Money Matters.
The company has 17 employees with the certified financial planner (CFP) designation, one with the chartered financial analyst (CFA) certification and seven certified fund specialists.
Hanson McClain Advisors Resources
True to Hanson McClain’s original roots, you can get answers to your financial questions for free, using the company’s resources. The firm continues to broadcast its radio show in two markets and it's also available via podcast. Retirement planning workshops are still widely available. The company has more than 7,000 clients and over 20 years of experience to build learning on. Workshops and podcasts are still free.
In addition to in-person workshops, the company has online tutorials that you can access from the convenience of your home. Topics include Social Security and retirement planning. You can also read articles on the company’s website that address a full spectrum of financial planning topics.
Genovese Burford & Brothers Wealth and Retirement Plan MGMT
The no. 2 spot for Sacramento goes to another fee-based firm: Genovese Burford & Brothers Wealth and Retirement Plan MGMT, or GBB for short. The firm has a similar number of advisors to Hanson McClain (our no. 1 firm) with 20 to its 23, but has a much smaller number of accounts. GBB manages 800, compared to Hanson McClain’s 8,600.
It may have fewer accounts, but that doesn’t mean GBB isn’t responsible for a sizeable amount of funds. In fact, the company manages over $1.3 billion. You will need at least $500,000 to become a client at GBB, the highest minimum out of our top three Sacramento firms.
Genovese Burford & Brothers Wealth and Retirement Plan MGMT Background
Mike Genovese, certified financial planner (CFP), and Lon Burford, CFP and accredited investment fiduciary (AIF), have worked together since the early 1980s. In the late 80s, they started Genovese Burford & Brothers with the vision of “putting clients’ interests first.” The company’s motto continues to be, “Your best interest. Always.” In the years since founding, GBB has grown from three to 20 advisors.
Altogether, the company has 10 CFPs, two AIFs, two certified public accountants (CPAs) and one chartered financial analyst.
Genovese Burford & Brothers Wealth and Retirement Plan MGMT Investment Philosophy
GBB advocates a strong planning process behind every portfolio’s construction. This means your initial discussions with your advisor will guide your portfolio’s makeup. Your advisor will consider your financial profile, time horizon, risk tolerance and objectives and goals.
The company follows five core principles for its investment strategies: simple and cost efficient, rational, disciplined, durable and explainable. This means your advisor should be able to explain, in simple terms, why assets were chosen and what each means for your portfolio.
Portfolios are well-diversified, liquid, low-cost and generally consist of ETFs and mutual funds. Your portfolio will be rebalanced periodically, and the company uses a long-term approach with most investments.
Brown Robello Capital Management
Despite being established in 2001, this fee-only (the first on our list) financial advisor is the first firm we’ve seen that doesn’t have its own website. Regardless, the company still has plenty of clients and more than 200 active accounts. Brown Robello Capital Management, or BRCM, manages almost $200 million.
The company has just four advisors, the smallest on our Sacramento list, and has the lowest client minimum, at $50,000 for certain portfolios.
Brown Robello Capital Management Background
Kenneth Brown and Alan Robello are the founders and owners of BRCM. Brown is also the CEO and co-founder of Avisen Securities, a boutique investment securities firm. According to the firm’s SEC brochure, BRCM recommends clients use Avisen as the broker-dealer of their investment accounts (a potential conflict of interest you should note).
Robello, the co-founder, serves as the managing member and chief compliance officer of BRCM. He’s worked in the securities industry for over 15 years and is a former Merrill Lynch employee. Robello serves as president of Avisen Securities.
Brown Robello Capital Management Portfolio Models
Opening an investment management account with BRCM will mean working with Lockwood Capital Management. Portfolio managers at BRCM use LCM’s five portfolio models to match your financial needs with the model that would best accomplish your stated objectives.
There are five Lockwood asset allocation portfolios: current income, growth and income, conservative growth, moderate growth and growth. Each model corresponds with the objective (indicated by the name). In addition to these portfolios, BRCM also offers portfolios through Lockwood investment strategies and a few other companies.
This firm has the most complex set of relationships within its asset management system that we’ve come across so far. You may want to ask your advisor about each program and associated fee before agreeing to a management relationship.