How to Pick the Best San Francisco Wealth Management Firm

Many options are available when it comes to wealth management firms in San Francisco. There are hundreds of them in the Bay Area. It’s easy to run a Google search on top San Francisco wealth management firms, but it’s hard to know if the results will truly give you all the information you need to pick one. How do you sort through results to find a firm that actually has your best interests at heart?

Everything seems to be competitive in San Francisco. For example, one of the greatest challenges in this city is securing a larger place to live and then perhaps budgeting for the sticker shock of the county tax bill when the market value increases. Living space is at a premium, but with some diligence, you can ultimately score real estate that will make you proud. Likewise, with wealth management firms, if you know what qualifications to look for, you can feel confident that you’ve found the right fit.

Look for a full-service wealth management firm

Traditionally, most wealth management firms only provide advisory or family office services. But today, people’s lives are more complex than ever and increasingly demanding. Investors are looking to simplify their finances wherever they can, and the last thing they want to do is spend their day talking on the phone or sending endless emails.

Investors like you want to be confident that your CPA or tax expert is on the same page with your financial advisor and insurance broker. As a result, wealth advisors are now more proactive about working in tandem with their clients’ accountants and other financial institutions. As you search for the best wealth management firm to fit your needs, be sure to find out what the firm’s team members do to be proactive about reporting on investments and preparing for tax season with other professional services. Collaboration is key when it comes to intricate finances, and you don’t want anything to slip through the cracks.

What type of entities need the best San Francisco wealth management firms?

Individual Investors

People’s needs have evolved, and investors are expecting more. They want experienced advisors, but they’re also looking for registered investment advisors (RIAs) who can see how the big picture will affect their financial health and their families long-term. Financial planning affects so many areas of your life that wealth management better serves you as a client when it is managed as a balanced ecosystem which involves:

• Wealth Planning
• Planning
• Retirement Planning
• Accounting Services

Business Owners

Many small business owners in the San Francisco Bay Area run their own companies and consulting agencies. It isn’t very convenient for them to meet with one advisor for their investments and retirement, but then need to seek out a different advisory firm when they need new advice on how to better run their business. Find financial services companies that can address the spectrum of services that you may need.

Non-profit agencies

Non-profit agencies have unique needs from their financial services professionals. Registering an organization as a non-profit agency takes very careful planning. You need to have the scope of services of the non-profit carefully laid out, initial funding sources secured, and paperwork that is thoroughly reviewed before being submitted. The IRS recognizes over thirty types of non-profit organizations. Non-profit organizations must file each quarter just as for-profit businesses do, but filings rules can be stricter because of the additional documentation and forms required.

Best professional certifications and services experience

Before beginning any search for the best San Francisco Wealth management firms, know what certifications to look for among the professional staff. Any firm offering accounting services should have at least one full-time CPA on staff. They should also have supporting staff with trained accounting specialists. Their experience with individual and business taxes should be explicitly identified in the portfolio of services that they offer.

Wealth managers at the firmwide level must be registered as/with:

• RIA (Registered Investment Advisor)
• SEC (Securities and Exchange Commission)
• FINRA (Financial Industries Regulatory Agency)
• and perhaps, the SIPC (Securities Investor Protection Corporation)

Firms that advertise as wealth managers and financial planners are required to have individual certifications and charters which regulate their industries, such as:

• CFP (Certified Financial Planner)
• CMA (Certified Management Accountant)
• CFA (Charter Financial Analyst)

The obvious educational degrees are bachelor’s and master’s degrees in business with a major in Accounting or Finance. Combining the two credentials with years of experience and a Bay Area connection make for strong contenders.

Narrowing down to the best fit for you

With so many financial advisors touting their expertise, it can be hard to narrow down your selection of the best San Francisco wealth management firms. Do you go with a big-name bank on the corner or can small and mid-sized firms still offer an excellent experience with a wide range of services? The best option is a firm that takes a holistic approach to wealth management, like SD Mayer. Located in the San Francisco Financial District office, you’ll find a professional staff with decades of combined experience that would love to begin the journey of helping you to best prepare for your financial future—and do it the right way.

SD Mayer has decades of wealth management experience and a team of financial professionals who are invested in their clients and community. We are ready to sit down with you one-on-one to take a look at your investments and finances, streamlining your financial plan so that you can meet all of your life goals. Contact us today to get started with an initial consultation.