Financial Alternatives provides financial planning, portfolio management for individuals and small businesses, selecting other managers, estate planning, and tax planning. Financial planning was provided to 251–500 clients last fiscal year.
Financial Alternatives reports 271 clients. They include 148 high-net-worth individuals, 121 individual clients and 2 charitable organizations. Of its assets, 98.8% ($607M across 1,230 accounts) are managed with discretion; $7.34M across 28 accounts are not.
| Client type | Clients | Assets |
|---|---|---|
| Individuals (other than HNW) | 45% | 9% |
| High-net-worth individuals | 55% | 91% |
| Charitable organizations | <1% | <1% |
Client breakdown and activity details
| Client type | Clients | Regulatory AUM | AUM share | Avg. per client |
|---|---|---|---|---|
| Individuals (other than HNW) | 121 | $54.5M | 8.9% | $450K |
| High-net-worth individuals | 148 | $560M | 91.0% | $3.78M |
| Charitable organizations | Fewer than 5 | $577K | 0.1% | $289K |
| Total | 271 | $615M | 100% | — |
- Clients
- 121
- Regulatory AUM
- $54.5M
- AUM share
- 8.9%
- Avg. per client
- $450K
- Clients
- 148
- Regulatory AUM
- $560M
- AUM share
- 91.0%
- Avg. per client
- $3.78M
- Clients
- Fewer than 5
- Regulatory AUM
- $577K
- AUM share
- 0.1%
- Avg. per client
- $289K
Total
- Clients
- 271
- Regulatory AUM
- $615M
- 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
- 0
- Financial planning clients last fiscal year
- 251–500
Financial Alternatives charges 0.50%–1.00% for its Investment Advisory Services. The brochure does not state whether the rate is annual. The fee is billed in advance and is negotiable. The brochure also prices one other service, listed under fee details.
Fee details and sources
Other fees
- Wealth Advisory and Consulting (Stand-Alone)
- Negotiable, generally a $300 hourly rate or a flat fee; a written financial assessment is generally $500.
James Freeman owns 50% to 75% of Financial Alternatives. The leadership team of Financial Alternatives includes President James Freeman and Chief Operating Officer Christopher Jaccard. It has 13 employees, 7 of them in advisory roles.
Leadership
- James FreemanPresident/Chief Compliance Officer
- Christopher JaccardChief Operating Officer
- Pei-Shan LiPartner
- Andrew HoffarthPartner
Investment adviser representatives
6 representatives listed in the SEC register as of 9 October 2026.
Staff
- 13 employees
- 7 in advisory functions
- 6 state-registered reps
- Owns 50% to 75% of Financial Alternatives, Inc.
James Freeman
Control person · since January 2001
- Owns 25% to 50% of Financial Alternatives, Inc.
Christopher Jaccard
Control person · since July 2001
- Owns 5% to 10% of Financial Alternatives, Inc.
Pei-Shan Li
since May 2021
- Owns 5% to 10% of Financial Alternatives, Inc.
Andrew Hoffarth
since January 2023
Financial Alternatives’ regulatory assets grew 2.5× from $245M (March 2021) to $615M (March 2026); clients rose from 137 to 271 and employees from 7 to 13. In 2022, Hillegas Advisory Services ($130M in its last filing) joined it.
Figures from each annual filing
| Filed | Regulatory AUM | Clients | Employees | Offices |
|---|---|---|---|---|
| March 2026 | $615M | 271 | 13 | 2 |
| March 2025 | $548M | 260 | 12 | 2 |
| March 2024 | $507M | 258 | 12 | 2 |
| March 2023 | $459M | 255 | 13 | 2 |
| March 2022 | $459M | 256 | 14 | 2 |
| March 2021 | $245M | 137 | 7 | 2 |
Firms that joined
20221 joined
- Hillegas Advisory ServicesLast filed AUM $130M
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, Financial Alternatives has 1 office, with 2 listed addresses in California.
California · 2 listed addresses
- 7825 Fay Avenue, Suite 245, La JollaHQ
- 7825 Fay Avenue, La Jolla
Contact and registration details
- Legal name
- Financial Alternatives, Inc.
- Headquarters
- 7825 Fay Avenue, Suite 245, La Jolla, CA 92037
- Website
- financialalternatives.com
- Phone
- 858-459-8289
- @financial-alternatives-inc-
- SEC file
- 801-57864
- Structure
- California corporation
- Fiscal year end
- December
Financial Alternatives uses Charles Schwab ($354M, 62%) and Fidelity ($219M, 38%) as custodians for its separately managed accounts. Financial Alternatives has custody of $156M in client assets for 86 clients.
- FidelityNational Financial Services LLC · Boston, MA · $219M38%
- Charles SchwabCharles Schwab & Co., Inc. · San Francisco, CA · $354M62%
At year end, Financial Alternatives’ separately managed accounts were mostly in funds (90%). Its reported 13F holdings for the quarter ended 30 June 2026 total $203M across 84 positions; the largest are Dimensional ETF Trust (18.2%), Dimensional ETF Trust (17.0%) and Vanguard Whitehall Fds (8.4%).
What the accounts hold
- Stocks3%
- Funds90%
- Registered funds70%
- Pooled vehicles20%
- Bonds1%
- Cash6%
Reported 13F holdings
- $203M
- Reported 13F value
- 84
- Positions
- 66.7%
- In the 10 largest
- +9.4%
- Value vs. prior quarter
- Dimensional ETF Trust · US Cor Equ 2 ETF18.2%
- Dimensional ETF Trust · Intl Core EQT MK17.0%
- Vanguard Whitehall Fds · EM MK Gov BD ETF8.4%
- Dimensional ETF Trust · Emgr Cre EQT Mng6.3%
- J P Morgan Exchange Traded F · Equity Premium3.6%
- Vanguard Index Fds · Real Estate ETF3.3%
- iShares Gold TR · iShares New2.6%
- iShares TR · JPMORGAN Usd Emg2.5%
- Vanguard Index Fds · Total Stk Mkt2.5%
- Vanguard Intl Equity Index F · Glb EX US ETF2.4%
Together, the ten largest are 66.7% of reported value.
How many clients does Financial Alternatives have?
Financial Alternatives has 271 clients and manages $615 million for them, as of March 2026. They include 148 high-net-worth individuals, 121 individual clients and 2 charitable organizations.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 13 March 2026
What services does Financial Alternatives offer?
Financial Alternatives provides financial planning, portfolio management for individuals and small businesses, selecting other managers, estate planning, and tax planning.
Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file; Part 2A brochure, Item 4
How much does Financial Alternatives charge?
Financial Alternatives charges 0.50%–1.00% for its Investment Advisory Services. The brochure does not state whether the rate is annual. The fee is billed in advance and is negotiable.
Source: ADV PART 2A, filed 13 March 2026
Which custodians does Financial Alternatives use?
Financial Alternatives’ separately managed account assets are held at Charles Schwab & Co., Inc. (San Francisco, CA), with $354M and National Financial Services LLC (Boston, MA), with $219M. Only custodians holding at least a tenth of those assets are named.
Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 13 March 2026
How many financial advisors does Financial Alternatives have?
Financial Alternatives has 6 investment adviser representatives registered with state securities authorities, out of 13 employees, and 7 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 Financial Alternatives invest in?
At the end of its last fiscal year, Financial Alternatives’ separately managed accounts held 70% registered funds (mutual funds, ETFs, BDCs), 20% pooled vehicles (private funds and similar), 6% cash and equivalents, 3% exchange-traded equities and 1% U.S. government and agency bonds.
Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file
Who owns Financial Alternatives?
Financial Alternatives’ direct owners are James Freeman (50% to 75%), Christopher Jaccard (25% to 50%), Pei-Shan Li (5% to 10%) and Andrew Hoffarth (5% to 10%).
Source: Form ADV Part 1A, Schedules A and B, filed 13 March 2026
How does Financial Alternatives get paid?
Financial Alternatives is paid through a percentage of assets under management, hourly charges and fixed fees. Its Form ADV lists no commissions or performance-based fees among how it is paid.
Source: Form ADV Part 1A, Item 5.E, from the SEC's 2 October 2026 data file
Is Financial Alternatives registered with the SEC?
Yes, Financial Alternatives has been registered with the SEC as an investment adviser since 25 August 2000. Its CRD number is 108245 and its SEC file number is 801-57864.
Source: Form ADV Part 1A, Item 1, filed 13 March 2026; IAPD firm record
How do I contact Financial Alternatives?
Financial Alternatives’ main office is at 7825 Fay Avenue, Suite 245, La Jolla, CA 92037. Its phone number is 858-459-8289. Its website is financialalternatives.com.