Named #1 Firm from Financial Planning's "Best RIAs to Work For"
Meaningful work depends on judgement built over years, not quarters. At its core, our work is a long-term partnership. Clients turn to us as plans evolve, responsibilities grow, and new possibilities take shape, and we don’t take it lightly when we are their first call. The specifics may differ, but the steady thread of trust is what gives our work its depth.
Financial Planning ranked Bailard No. 1 on its Best RIAs to Work For list. It was our first year participating, and the result reflects something we've built over decades. A culture where talented people want to stay, grow, and do their best work. Long tenure has helped strengthen that foundation, creating continuity that clients and partners often value in enduring relationships.
With Bailard’s first-place ranking came an interview with CEO Sonya Mughal, CFA, in which Financial Planning explored the firm’s approach to building an environment that supports lasting careers. The profile highlighted policies such as paid sabbaticals, flexible time off, full medical premium coverage for employees, and a hybrid model designed to encourage teamwork and collaboration across offices.
Bailard’s independence plays a quiet but important role in shaping that environment too. As an independent, employee-owned firm, we are not driven by outside shareholders or short-term pressures. That structure gives our leaders the latitude to plan for the long term and act with purpose, investing in people, refining processes, and strengthening the resources that serve our clients.
Earlier this week, Bailard appeared for the eighth consecutive year on Pensions & Investments' Best Places to Work in Money Management list. Viewed together, the two honors offer a window into a culture that fosters continuity and engagement. Clients often appreciate that steadiness, particularly when needs can span financial and estate planning, investing, real estate, philanthropic goals, and values-driven priorities.
Mike Faust, CFA, President of Wealth Management, shared his perspective. “Clients come to us expecting clarity and continuity, not quick fixes. We can support those relationships more effectively when our team feels aligned with the firm’s purpose and grounded in their work. That’s the value of a strong culture, and it’s something we work hard to maintain.”
Our commitment remains steady. Serve clients with care, support colleagues with intention, and protect the independence that allows us to do both well. That's what we'll continue to build.
To view the full 2025 Best RIAs to Work For list, visit: https://www.financial-planning.com/list/best-rias-to-work-for-2025-ranking
About Bailard, Inc.
Founded in 1969, Bailard is an independent, values-driven wealth and asset management firm serving individuals, families, and institutions. Bailard has built a long‐term asset management track record across domestic and international equities, fixed income, and private real estate, along with in-house sustainable, responsible, and impact investing expertise. The firm helps clients align their financial goals with their values. Headquartered in the San Francisco Bay Area, Bailard had over $7.5 billion in assets under management as of 9/30/2025. Bailard is majority employee-owned, woman-led, a Certified B Corporation™, and a UN Principles of Responsible Investing signatory.
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Bailard was considered for these awards without paying for inclusion, however, some programs have charged a registration fee: Pensions & Investments required $199 in 2023, 2024, and 2025, and the 2023 program included a $499 data-sharing fee from Best Companies Group. The awards do not evaluate the quality of services provided to clients and are not indicative of Bailard's future performance.
About Financial Planning's Best RIAs to Work For
To be considered for participation, eligible firms must be a for-profit or not-for-profit business or public agency, have a U.S. facility, have a minimum of 10 employees working in the U.S., and have been in business a minimum of 1 year. Evaluation consisted of a two-part process. First, an evaluation of workplace policies, practices, philosophy, systems, and demographics. Second, an employee survey measuring day-to-day experience. The combined scores determined the final ranking. 60 firms were ranked in 2025. For more information on Financial Planning’s Best RIAs to Work For program, visit https://www.financial-planning.com/list/best-rias-to-work-for-2025-ranking
About Pensions & Investments’ Best Places to Work in Money Management
Pensions & Investments, owned by Crain Communications Inc., is the 50-year-old global news source for money management and institutional investing. P&I released the 2025 ranking in December 2025. Participating firms must have at least 20 U.S.-based employees, $100 million of discretionary institutional assets under management or advisement, and a minimum of one year in business. In 2025, 103 firms were ranked, with 25 managers recognized in Bailard's category of 50 to 99 employees. For 2024, 2023, 2022, 2021, 2020, 2019, and 2018, there were 113, 123, 100, 76, 94, 76, and 69 firms ranked, respectively. For additional details regarding methodology, please visit http://www.pionline.com/BPTW2025.
Bailard Recognized as One of P&I’s Best Places to Work
Great workplaces often start with a simple idea. When you support your people, everything else gets better. That belief has guided Bailard for decades. It’s also why this year’s recognition from Pensions & Investments carries real meaning. Bailard has once again been named one of the Best Places to Work in Money Management. It’s our eighth consecutive year on the list (2018-2025).
Unlike many industry awards, this recognition is grounded in employee feedback, with 80% of the evaluation focused on the day-to-day employee experience. For an independent firm in an industry where consolidation continues to accelerate, that validation matters. Independence holds up only when the culture underneath it is strong.
This year, Bailard is ranked 3rd among firms with 50-99 employees. And while awards are always a chance to pause and reflect, an eight-year streak reflects something deeper: a culture shaped by the choices our people make every day and anchored in our firmly held values of accountability, compassion, courage, excellence, fairness, and independence.
“Culture is something you build choice by choice. It’s the small, everyday moments of supporting one another and doing what’s right for the people we serve. Seeing Bailard recognized for the eighth year in a row is a reflection of a team I’m immensely proud of. They show up with purpose, integrity, and compassion. They’re the reason this culture stays strong," remarked Sonya Mughal, CFA, Bailard’s Chief Executive Officer.
At its core, this recognition reinforces what we strive for. When people feel supported, trusted, and valued, it shapes how they show up for clients and colleagues. As we mark this milestone, our focus stays on what comes next: strengthening our culture, supporting our team, and protecting the independence that helps us serve the people and communities who rely on us.
For a full list of the 2025 honorees, visit http://www.pionline.com/BPTW2025.
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About Bailard, Inc.
Founded in 1969, Bailard is an independent, values-driven wealth and asset management firm serving individuals, families, and institutions. Bailard has built a long‐term asset management track record across domestic and international equities, fixed income, and private real estate, along with in-house sustainable, responsible, and impact investing expertise. The firm helps clients align their financial goals with their values. Headquartered in the San Francisco Bay Area, Bailard had over $7.5 billion in assets under management as of 9/30/2025. Bailard is majority employee-owned, woman-led, a Certified B Corporation™, and a UN Principles of Responsible Investing signatory.
About Pensions & Investments’ Best Places to Work in Money Management
Pensions & Investments, owned by Crain Communications Inc., is the 50-year-old global news source for money management and institutional investing. P&I released the 2025 ranking in December 2025. Participating firms must have at least 20 U.S.-based employees, $100 million of discretionary institutional assets under management or advisement, and a minimum of one year in business. In 2025, 103 firms were ranked, with 25 managers recognized in Bailard's category of 50 to 99 employees. For 2024, 2023, 2022, 2021, 2020, 2019, and 2018, there were 113, 123, 100, 76, 94, 76, and 69 firms ranked, respectively. For additional details regarding methodology, please visit http://www.pionline.com/BPTW2025. Bailard was considered for this award without paying for inclusion, however, some programs have charged a registration fee: Pensions & Investments required $199 in 2023, 2024, and 2025, and the InvestmentNews’ 2024 program, and Pensions & Investments 2023 program included a $499 data-sharing fee from Best Companies Group. This award does not evaluate the quality of services provided to clients and is not indicative of Bailard's future performance.
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Earning Our Place Among America’s Top RIA Firms
More than 50,000 firms were nominated. Thirty-three thousand interviews were conducted. Only 250 firms made the list.
Among them: Bailard.
We are proud to be recognized among Forbes’ America’s Top RIA Firms. The honor reflects a long tradition of teamwork, integrity, and care for our clients’ success.
What matters more than the recognition itself are the quiet moments that make it possible. It’s listening closely, planning carefully, and following through on every promise. That is where trust is built and where the work truly matters.
“Awards come and go, but what endures is how we treat our clients and colleagues,” said Sonya Mughal, CFA, Chief Executive Officer. “That’s the part I’m most proud of.”
This honor follows other 2025 distinctions, including Barron’s Top 100 RIA Firms and the San Francisco Business Times’ Top Bay Area Corporate Philanthropists list. Each reflects the same foundation of steady leadership and a shared commitment to doing what is right for those we serve.
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About Bailard, Inc.:
Founded in 1969, Bailard is an independent, values-driven firm serving individuals, families, and institutions with comprehensive wealth management and investment strategies across public and private markets. Headquartered in the San Francisco Bay Area, the woman-led, majority employee-owned firm manages over $7 billion in assets as of September 30, 2025. A Certified B Corporation™ and signatory to the UN Principles for Responsible Investing, Bailard combines deep expertise with a long-standing commitment to putting clients first.
Past performance is no indication of future results. All investments have the risk of loss. These awards do not evaluate the quality of services provided to clients and are not indicative of Bailard’s future performance. There was no cost to enter any of the recognitions described herein.
About Forbes’ 2025 America’s Top RIA Firms: Bailard ranked 91 out of 250 firms in the 2025 Forbes Top RIA Firms and 90 out of 250 firms in the 2024, each announced in October. The ranking, developed by SHOOK Research, is based on qualitative interviews and quantitative data, weighing factors such as revenue trends, assets under management, compliance records, and industry experience. More information is available here: https://www.forbes.com/sites/rjshook/2025/10/01/methodology-americas-top-ria-firms-2025/
About Barron's Top 100 RIA Firms: Announced in September 2025, 2024, 2023, and 2021 by Barron’s. Bailard ranked 92 out of 100 on the 2025 list; 88 in 2024; 99 in 2023; and 98 in 2021. Advisors who wish to be ranked complete a 102-question survey; Barron’s then verifies that data and applies its rankings formula to generate a ranking. The formula features three major categories of calculations: assets, revenue, and quality of practice with multiple sub-calculations in each. https://www.barrons.com/advisor/report/top-financial-advisors/ria?
About San Francisco Business Times’ Top 100 Corporate Philanthropists: Annual award, given in July of each year, SFBT recognizes the top 100 for-profit companies and nonprofit healthcare institutions based on the year’s cash donations to charitable organizations across the Greater Bay Area, including the counties of Alameda, Contra Costa, Marin, Napa, San Francisco, San Mateo, Santa Clara, Solano, and Sonoma. Bailard ranked #65 in 2025, #71 in 2024, #79 in 2023; #82 in 2022; and #89 in 2021. There was no fee to enter. Please visit the SFBT for more information: https://www.bizjournals.com/sanfrancisco/subscriber-only/2025/08/01/the-top-corporate-philanthropists-in-the-bay-area.html
Kiplinger: "This Is Why Now Is the Time for Investors to Look Abroad"
Many portfolios today lean heavily toward the same handful of U.S. names. What happens when those leaders start to wobble? In Kiplinger, Bailard’s Daniel McKellar, CFA, explores why international equities deserve a closer look and how investors can think more globally about diversification.