Laila Pence
Company: Pence Wealth Management
Location: Newport Beach
Years in Business: 32
Rank on Barron’s California list: 34 (up from last year’s No. 61)
Education: bachelor’s in economics, University of California, Los Angeles
Notable
Firm manages about $781 million in assets, up from $635 million a year earlier. An average account size is about $2 million, and a typical client has net worth of about $5 million. Was ranked No. 26 among women financial advisers in the U.S. by Barron’s in 2011. Born and raised in Egypt, came to the U.S. at age 12. Husband E. Dryden Pence is chief investment officer of the firm who spent 22 years in investment banking before cofounding Pence Wealth Management.
Mark Binder
Company: Bank of America, Merrill Lynch Wealth Management
Location: Newport Beach
Years in Business: 19
Rank on Barron’s California list: 81 (unranked last year)
Education: bachelor’s in finance, University of Southern California; master’s in business, Columbia University
Notable
Managing director of a team of 14. Was ranked No. 58 on the Barron’s list in 2010. Clients include institutions, charitable organizations and high-net-worth individuals. Team manages about $2.29 billion of assets total, with an average account size of $30 million. A typical customer has net worth of about $50 million. Binder manages fixed-income side of investments. Has been with Merrill Lynch since 2000, following eight years with Goldman Sachs.
Marc Foster
Company: UBS Financial Services Inc.
Location: Newport Beach
Years in Business: 33
Rank on Barron’s California list: 84 (up from last year’s No. 93)
Education: bachelor’s in chemistry, California State University, Fullerton
Notable
Founded Foster Wealth Management Group in 1991. Manages about $700 million in as-sets. Average account size is $3 million, and a typical client has net worth of $10 million. Foster allocates about 10% of total assets under management to his son, who joined the team in 2009. Foster is a shareholder of ResinArt Corp. in Costa Mesa, where his wife is president. The moulding company serves as a window through which Foster gets a first-hand look at the business climate and challenges of business owners and investors.
Tom Blanchfield
Company: Bank of America, Merrill Lynch Wealth Management
Location: Newport Beach
Years in Business: 26
Rank on Barron’s California list: 100 (down from last year’s No. 78)
Education: bachelor’s in business administration/finance, University of Delaware
Notable
Blanchfield leads a team of five with Alexan-der Stimpson. The team manages about $1.55 billion in assets, an increase from a year-ago total of $1.36 billion. An average account is at $25 million. Blanchfield manages overall portfolio risk management, with a focus on fixed in-come securities and a bent toward being conservative. Serves high-net-worth individuals, families and foundations. A typical client has net worth of $35 million. Most clients are entrepreneurs and owners of privately held companies.
