The Foundation of Bailard’s Success
Ask most wealth management firms about the foundation of their practice and you’ll hear some version of the term “philosophy.” And for many, that’s where the thinking stops. But at Bailard — the No. 1 firm on this year’s Best RIAs to Work For list — it’s where the work begins.
Philosophy in Action
For Sonya Mughal, the third and current CEO of the 56-year-old Foster City, California firm, Bailard’s philosophy — one centered on independence, accountability, and excellence — underpins every policy and benefit the firm provides.
The standout benefit of a six-week paid sabbatical available to employees every seven years is particularly rare in the industry, with only seven out of the 60 firms on the Best RIAs to Work For list offering any type of sabbatical.
Mughal emphasizes the importance of this benefit by sharing stories of employees who have taken sabbaticals and returned with life-changing experiences, such as meeting the Dalai Lama and engaging in Buddhist meditation.
Comprehensive Benefits Package
In addition to the sabbatical policy, Bailard offers generous paid time off, flexible remote work options, and fully employer-paid medical, dental, vision, long-term care, and life insurance. Mughal believes that providing these benefits is a way of reducing the stress of cost-of-living increases and promoting a culture of compassion within the firm.
Employees as Stakeholders
At Bailard, 80% of employees hold equity in the company, emphasizing a sense of ownership and long-term focus. Mughal highlights the benefits of this ownership structure, noting that it allows employees to be in control of decisions and fosters a deeper commitment to the firm.
Commitment to Philanthropy
In 2019, Bailard launched the Bailard Foundation, focusing on charitable matching, grantmaking, and volunteering in the Bay Area. The foundation’s initiatives address issues such as affordable housing, homelessness, poverty, and financial literacy. Employees actively participate in volunteer efforts, supporting organizations like Habitat for Humanity and Bay Area food banks.
A Culture of Excellence
By aligning its benefits, ownership structure, and philanthropic efforts with a core philosophy of independence and compassion, Bailard has created a workplace where employees are deeply invested for the long haul. The firm’s commitment to its values is reflected in a client retention rate of 99% and long employee tenure.
As Mughal reflects on leading the team, she expresses pride in Bailard’s achievements and a deep sense of humility.
