First Foundation in Irvine, Calif., makes no secret that its business model is built around catering to a wealthy clientele.

The $3.5 billion-asset company — founded in 1990 as a fee-only investment manager — states on its website that its target customer base consists of "mid-to-high net worth individuals." A consulting unit advises on estate planning and philanthropy. Another business helps clients buy and manage art collections.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.