Bailard provides financial planning, portfolio management for individuals and small businesses, portfolio management for investment companies, portfolio management for pooled vehicles, portfolio management for institutions, publishing newsletters, and educational seminars. Financial planning was provided to 101–250 clients last fiscal year. The firm advises 1 private fund.
Bailard reports 1,137 clients. They include 831 high-net-worth individuals, 237 individual clients and 49 charitable organizations. Of its assets, 99.4% ($7.51B across 2,816 accounts) are managed with discretion; $47.5M across 9 accounts are not.
| Client type | Clients | Assets |
|---|---|---|
| Individuals (other than HNW) | 21% | 1% |
| High-net-worth individuals | 73% | 70% |
| Investment companies | <1% | <1% |
| Pooled investment vehicles | <1% | 9% |
| Pension and profit-sharing plans | <1% | <1% |
| Other client typesCharitable organizations; Other investment advisers; Sovereign wealth funds and foreign official institutions; Corporations and other businesses | 5% | 19% |
Client breakdown and activity details
| Client type | Clients | Regulatory AUM | AUM share | Avg. per client |
|---|---|---|---|---|
| Individuals (other than HNW) | 237 | $110M | 1.5% | $465K |
| High-net-worth individuals | 831 | $5.27B | 69.6% | $6.34M |
| Investment companies | 3 | $62.3M | 0.8% | $20.8M |
| Pooled investment vehicles | 2 | $681M | 9.0% | $340M |
| Pension and profit-sharing plans | Fewer than 5 | $16M | 0.2% | $5.33M |
| Charitable organizations | 49 | $389M | 5.1% | $7.93M |
| Other investment advisers | Fewer than 5 | $32.6M | 0.4% | $32.6M |
| Sovereign wealth funds and foreign official institutions | Fewer than 5 | $982M | 13.0% | $982M |
| Corporations and other businesses | 10 | $21.8M | 0.3% | $2.18M |
| Total | 1,137 | $7.56B | 100% | — |
- Clients
- 237
- Regulatory AUM
- $110M
- AUM share
- 1.5%
- Avg. per client
- $465K
- Clients
- 831
- Regulatory AUM
- $5.27B
- AUM share
- 69.6%
- Avg. per client
- $6.34M
- Clients
- 3
- Regulatory AUM
- $62.3M
- AUM share
- 0.8%
- Avg. per client
- $20.8M
- Clients
- 2
- Regulatory AUM
- $681M
- AUM share
- 9.0%
- Avg. per client
- $340M
- Clients
- Fewer than 5
- Regulatory AUM
- $16M
- AUM share
- 0.2%
- Avg. per client
- $5.33M
- Clients
- 49
- Regulatory AUM
- $389M
- AUM share
- 5.1%
- Avg. per client
- $7.93M
- Clients
- Fewer than 5
- Regulatory AUM
- $32.6M
- AUM share
- 0.4%
- Avg. per client
- $32.6M
- Clients
- Fewer than 5
- Regulatory AUM
- $982M
- AUM share
- 13.0%
- Avg. per client
- $982M
- Clients
- 10
- Regulatory AUM
- $21.8M
- AUM share
- 0.3%
- Avg. per client
- $2.18M
Total
- Clients
- 1,137
- Regulatory AUM
- $7.56B
- AUM share
- 100%
- Avg. per client
- —
- Clients outside the U.S.
- 0%
- Clients advised without assets under management last fiscal year
- 0
- Private funds advised
- 1
- Financial planning clients last fiscal year
- 101–250
Bailard charges 0.50%–1.00% a year for its Investment advisory fees for wealth management clients. Each asset band is charged at its own rate. The fee is billed in advance, is negotiable, has a $20,000 annual minimum and requires an account of at least $2,000,000. The brochure also prices 2 other services, listed under fee details.
| Asset band | Annual rate |
|---|---|
| $0–$5M | 1.00% |
| $5M–$10M | 0.75% |
| $10M and above | 0.50% |
Fee details and sources
Other fees
- Financial advisory retainer
- Specialized investment analysis or ongoing financial planning for a few clients is charged as a retainer, typically $2,000 to $50,000 a year, depending on complexity.
- Financial planning
- Financial planning is generally included in wealth management fees; when offered separately it is occasionally a flat fee, typically $3,500 to $15,000 per engagement.
BB&K Holdings, Inc. owns 75% or more of Bailard. Sonya Mughal is CEO; the leadership team includes President Michael Faust, Chief Investment Officer David Smith and Chief Compliance Officer Pavita Fleischer. It has 83 employees, 42 of them in advisory roles.
Leadership
Sonya MughalChief Executive Officer; Director of Bailard, Inc, BB&K Holdings, and Bailard General Partners I, Inc.
Michael FaustEVP; President, Wealth Management; Director, Bailard, Inc. (Since 05/2022)
Blaine TownsendExecutive Vice President, Director of Srii
Pavita FleischerChief Compliance Officer
Tess GruensteinEVP Head of Portfolio Management - Real Estate, Co-CEO of Bailard Real Estate Investment Truts, Inc.
James PinkertonEVP Head of Investments - Real Estate, Co-CEO of Bailard Real Estate Investment Truts, Inc.
David SmithChief Investment Officer- Fuju WuSenior VP, Finance and Operations of Bailard, Inc.; Treasurer of Bailard, Inc. and BB&K Holdings
Investment adviser representatives
40 representatives listed in the SEC register as of 9 October 2026.
- Osman Tansu Akgun
- Kimberly Murray Aquino
- Linda Beck
- Mary Modesta Bersot
- Ryan S Chavez
- Ryan W Cole
- Stacy Pearl Dauber
- Glenn Anthony Davis
- Diana Lea Dessonville
- Annalise Mae Durante
- Enrique Villarroel Fermin
- Andrea Mohr Gandolfo
- Noah Andrew Holmes
- Joanne Lee Howard
- Abigail Victoria Hsu
- David Prestwich Jones II
- Scott Eric Kidd
- Alexandra Terese Labagh
- Bradley Phillip Larson
- Austin Gary Lastinger
- Benjamin Kane Lathrop
- Irene Liando
- Jonathan Lyons Manchester
- Francois Marcoux
- Daniel Joseph McKellar
- Lena M McQuillen
- Christopher James Moshy
- Thomas John Mudge III
- Romy Slatt Pavolotsky
- Suanne Marie Ramar
- Erin Marie Randolph
- Nicholas Joseph Risser
- Stephanie Wo Roncal
- Mikhail Drew Saliba
- Dana Merrill Scheer
- Jeremiah Record Wager-Smith
Staff
- 83 employees
- 42 in advisory functions
- 43 state-registered reps
- 2 soliciting firms
- Owns 75% or more of Bailard, Inc.
BB&K Holdings, Inc.
Control person · since November 1988
Bailard’s regulatory assets grew 1.5× from $5B (June 2021) to $7.56B (September 2026); clients rose from 942 to 1,137 and employees from 65 to 83. In 2025, Bersot Capital Management ($161M in its last filing) joined it.
Figures from each annual filing
| Filed | Regulatory AUM | Clients | Employees | Offices |
|---|---|---|---|---|
| September 2026 | $7.56B | 1,137 | 83 | 3 |
| July 2025 | $6.54B | 1,069 | 80 | 2 |
| June 2024 | $6.06B | 1,035 | 75 | 2 |
| June 2023 | $5.3B | 1,016 | 70 | 2 |
| June 2022 | $5.5B | 991 | 62 | 2 |
| June 2021 | $5B | 942 | 65 | 2 |
Firms that joined
20251 joined
- Bersot Capital ManagementLast filed AUM $161M
Firms whose SEC withdrawal reports a sale to this firm, and deals reported in the press. Teams that moved without selling a registered firm may not appear.
Besides its headquarters, Bailard has 2 offices, with 3 listed addresses in California and New York.
California · 2 listed addresses
- 950 Tower LN, Ste 1900, Foster CityHQ
- 235 Pine Street, San Francisco
New York · 1 listed address
- 875 Sixth Avenue, New York
Contact and registration details
- Legal name
- Bailard, Inc.
- Headquarters
- 950 Tower LN, Ste 1900, Foster City, CA 94404-2131
- Website
- bailard.com
- Phone
- 650-571-5800
- @bailard-inc.
- SEC file
- 801-8562
- Structure
- California corporation
- Fiscal year end
- March
Bailard uses Charles Schwab ($4.83B, 83%) and BNY Mellon Capital Markets ($982M, 17%) as custodians for its separately managed accounts. Bailard has custody of $3.43B in client assets for 684 clients.
- Charles SchwabCharles Schwab & Co., Inc. · San Francisco, CA · $4.83B83%
- BNY Mellon Capital MarketsBNY Mellon Capital Markets, LLC · New York, NY · $982M17%
At year end, Bailard’s separately managed accounts were mostly in stocks (76%) and funds (14%). Its reported 13F holdings for the quarter ended 30 June 2026 total $4.91B across 763 positions; the largest are Apple Inc. (4.9%), Nvidia Corporation (3.6%) and Alphabet Inc. (3.3%).
What the accounts hold
- Stocks76%
- Exchange-traded equities75%
- Non-exchange-traded equities1%
- Funds14%
- Registered funds9%
- Pooled vehicles5%
- Bonds7%
- State and local bonds5%
- U.S. government and agency bonds1%
- Investment grade corporate bonds1%
- Cash4%
Reported 13F holdings
- $4.91B
- Reported 13F value
- 763
- Positions
- 29.6%
- In the 10 largest
- +12.9%
- Value vs. prior quarter
- Apple Inc.4.9%
- Nvidia Corporation3.6%
- Alphabet Inc. · Cap Stk CL A3.3%
- Microsoft Corp.3.2%
- State Str SPDR S&P 500 ETF T · TR Unit3.1%
- iShares TR · MSCI Eafe ETF2.7%
- Invesco Qqq TR · Unit Ser 12.6%
- Vanguard World FD · Inf Tech ETF2.2%
- iShares TR · Rus 2000 Val ETF2.2%
- Gilead Sciences Inc.1.9%
Together, the ten largest are 29.6% of reported value.
How many clients does Bailard have?
Bailard has 1,137 clients and manages $7.56 billion for them, as of September 2026. They include 831 high-net-worth individuals, 237 individual clients and 49 charitable organizations.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 17 September 2026
What services does Bailard offer?
Bailard provides financial planning, portfolio management for individuals and small businesses, portfolio management for investment companies, portfolio management for pooled vehicles, portfolio management for institutions, publishing newsletters, and educational seminars.
Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file
How much does Bailard charge?
Bailard charges 0.50%–1.00% a year for its Investment advisory fees for wealth management clients. Each asset band is charged at its own rate. The fee is billed in advance, is negotiable, has a $20,000 annual minimum and requires an account of at least $2,000,000.
Which custodians does Bailard use?
Bailard’s separately managed account assets are held at Charles Schwab & Co., Inc. (San Francisco, CA), with $4.83B and BNY Mellon Capital Markets, LLC (New York, NY), with $982M. Only custodians holding at least a tenth of those assets are named.
Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 17 September 2026
How many financial advisors does Bailard have?
Bailard has 43 investment adviser representatives registered with state securities authorities, out of 83 employees, and 42 perform investment advisory functions. None are registered representatives of a broker-dealer or licensed insurance agents.
Source: Form ADV Part 1A, Items 5.A and 5.B, from the SEC's 2 October 2026 data file
What does Bailard invest in?
At the end of its last fiscal year, Bailard’s separately managed accounts held 75% exchange-traded equities, 9% registered funds (mutual funds, ETFs, BDCs), 5% state and local bonds, 5% pooled vehicles (private funds and similar), 4% cash and equivalents, 1% non-exchange-traded equities, 1% U.S. government and agency bonds and 1% investment grade corporate bonds. It advises 1 private fund.
Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file
Does Bailard have a minimum investment?
Yes, Bailard’s minimum account size for its Investment advisory fees for wealth management clients is $2M. It charges a $20K annual minimum fee.
Who owns Bailard?
Bailard’s direct owner is BB&K Holdings, Inc. (75% or more).
Source: Form ADV Part 1A, Schedules A and B, filed 17 September 2026
How does Bailard get paid?
Bailard is paid through a percentage of assets under management, fixed fees and performance-based fees. Its Form ADV lists no commissions among how it is paid.
Source: Form ADV Part 1A, Item 5.E, from the SEC's 2 October 2026 data file
Is Bailard registered with the SEC?
Yes, Bailard has been registered with the SEC as an investment adviser since 3 March 1972. Its CRD number is 110550 and its SEC file number is 801-8562.
Source: Form ADV Part 1A, Item 1, filed 17 September 2026; IAPD firm record
How do I contact Bailard?
Bailard’s main office is at 950 Tower LN, Ste 1900, Foster City, CA 94404-2131. Its phone number is 650-571-5800. Its website is bailard.com.