September 30, 2019
As we enter the last quarter of 2019, we mark the end of an exciting 50th year for Bailard as a firm. This milestone has provided an opportunity to reflect on what exactly makes Bailard unique and what makes our relationship with our clients so special. We believe the thread that has tied us together through the years has been a set of values that we share; we are proud that often our employees and clients unite through these common values. So, this year, we put pen to paper to articulate exactly what these core values are, and we winnowed to six: accountability, compassion, courage, excellence, fairness, and independence. Each of these values have shaped our business in different ways, from how we interact with our clients and how we have grown as a company to how we engage as a team, day in and day out.
We practice independence by being a truly independent firm in our thought and counsel, and striving to keep our business employee-owned. We believe this preserves our culture and enables us the freedom to pursue the best opportunities and to remain true to our values. We hold a strong commitment to excellence in service of our clients, recognized by both strong client retention rate of 98% over the past five years as well as industry accolades (we have been named by the Financial Times as one of the top RIAs for three years running, and this quarter we were named one of the Top 100 Financial Advisors by CNBC).*
We show courage through continually learning and growing. While Bailard’s beginnings focused on financial planning, later endeavors like introducing international investments, private real estate or, more recently, sustainable, responsible and impact investing each represented a new course for the company. Championing ideas and bringing them to fruition— doing things the right way, or a new and better way—always takes courage.
Compassion is another value we hold close in our role as our clients’ trusted advisors, aiming to be more than just a portfolio manager. This compassion has been at the root of our company since its founding in 1969, and our employees have a rich history of community involvement. Compassion also served as a driving force in the creation of the Bailard Foundation that we launched this year under the mission to do good in the communities where we live, work, and engage. We remain committed to our values and are exercising accountability by putting our money where our mouth is. It’s only fair that we practice what we preach!
We are humbled to look back at the journey that has brought us here today. And, importantly, we want to thank you for placing your trust in Bailard. We look forward to another 50 years of opportunities and adventures.
Chairman and Chief Executive Officer
Executive Vice President
Chief Operating Officer, Chief Risk Officer
*Please see important disclosures below.
About Client Retention Rate: The Bailard Wealth Management client retention rate for the five years ending December 31, 2018 was 98%. This number does not include terminations due to estate distributions, depleted accounts, accounts terminated by Bailard, or MY-FLEX® and MY-KIN® accounts.
About the Financial Times 300 Top Registered Investment Advisors: The Financial Times 300 Top Registered Investment Advisers is an independent listing produced annually by the Financial Times (June 2019). The FT 300 is based on data gathered from RIA firms, regulatory disclosures, and the FT’s research. The listing reflected each practice’s performance in six primary areas: assets under management, asset growth, compliance record, years in existence, credentials and online accessibility. This award does not evaluate the quality of services provided to clients and is not indicative of the practice’s future performance. Neither the RIA firms nor their employees pay a fee to the Financial Times in exchange for inclusion in the FT 300. According to its website, the Financial Times “is one of the world’s leading news organizations, recognized internationally for its authority, integrity and accuracy. It is part of Nikkei Inc., which provides a broad range of information, news and services for the global business community.” Bailard has received this recognition in 2019, 2018, and 2017.
About the CNBC Top 100 Financial Advisors: The CNBC FA 100 recognizes those advisory firms that continue to find ways to work closely with clients to help them mitigate risk and meet their financial goals. This award does not evaluate the quality of services provided to clients and is not indicative of the practice’s future performance. Neither the RIA firms nor their employees pay a fee to CNBC in exchange for inclusion in the FA 100. According to its website, CNBC enlisted data provider AccuPoint Solutions to assist with delivering the CNBC FA 100 ranking of registered investment advisors. The methodology consisted of first analyzing a variety of core data points from AccuPoint’s database of financial services firms. This analysis started with an initial list of 35,511 RIA firms, which means that 0.002% of firms were included in the top 100, and Bailard received a ranking of 54 out of the 100. AccuPoint then applied weighted categories to further refine and rank the firms, ultimately creating the list of the top 100 recognized. The primary data points used in the analysis were reviewed, either as a minimum baseline or within a range, eliminating those firms that did not meet CNBC’s requirements. Once the initial list was compiled, weightings were also applied accordingly. These data points included: Disclosures, Number of years in the business, Number of employees, Number of investment advisors registered with the firm, The ratio of investment advisors to total number of employees, Total assets under management, Percentage of discretionary assets under management, Total accounts under management, Number of states where the RIA is registered, and Country of domicile.