What Herrera Financial Services does

Herrera Financial Services is a privately held financial advisory practice headquartered in Claremont, California, operating from a single office at 237 West 4th Street. The firm is led by Philip Herrera with Catherine Crowell as a team member, and serves individuals and families — particularly those approaching or in retirement — with financial planning, investment management, tax planning, estate planning, and insurance services including life, disability, and long-term care coverage. The firm does not have proprietary technology; instead it operates on a partnership-based stack, relying on Cetera Wealth Services LLC for brokerage and custody, Cetera Investment Advisers LLC for advisory services, and FMG Suite for website content and educational materials.

The business model is a hybrid of asset-based advisory fees and transaction-based commissions. Investment advisory services are offered through Cetera Investment Advisers LLC and are billed as recurring fees on assets under management, while brokerage and insurance products generate commissions through Cetera Wealth Services (operating in California as CFGAN Insurance Agency LLC). Herrera Financial Services is part of the Avantax community within Cetera, an affiliation established in 2023 that provides compliance infrastructure, product access, and the ability to serve clients in all 50 states, though the firm concentrates operations locally in Claremont.

Customer acquisition is relationship-driven, depending on referrals, community presence, and a content marketing program that includes a 200+ entry financial glossary, educational videos, interactive calculators, and seven specialized Resource Centers (Retirement, Estate, Investment, Insurance, Tax, Money, and Lifestyle). Pricing is not publicly disclosed; advisory fees are quote-based and tied to the scope of services and AUM. The firm emphasizes a team approach, long-term client relationships, and personalized strategies as its primary value proposition, with no publicly disclosed revenue, funding history, or product launches beyond ongoing content marketing.

Name

Herrera Financial Services

Legal name

Herrera Financial Services

Website

https://herrerafinancialservices.com

Company type

Private

Operating status

Operating

Headcount range

11–50 employees

Short description

Herrera Financial Services is a Claremont, California-based financial advisory practice affiliated with Cetera Wealth Services, offering retirement, investment, tax, estate, and insurance planning to individuals and families.

Ownership category

akta.pro rank

Product category

Personal Financial Advisory

NAICS

Portfolio Management and Investment Advice (523940), Agencies, Brokerages, and Other Insurance Related Activities (5242)

SIC

Investment Advice (6282), Insurance Agents, Brokers & Service (6411)

akta.pro primary industry

Comprehensive/Full-Service RIAs & Independent Wealth Managers (FSAAACAA)

akta.pro secondary industries

Financial Planning–Led RIAs (FSAAACAB), Insurance-Integrated Wealth Managers (RIA + Insurance Solutions) (FSAAACAI), Retirement Income Planning & Decumulation Advisory (FSAEABAD)

Keywords

• Retirement planning services
• Investment advisory services
• Financial planning services
• Insurance brokerage services
• Wealth management advisory

Headquarters

HQ city

Claremont

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Brokerage Services: Securities and investment products offered through Cetera Wealth Services LLC. Financial professionals may receive transaction-based compensation (commissions) as Registered Representatives.
2. Advisory Services: Investment advisory services offered through Cetera Investment Advisers LLC, a registered investment adviser, with fees based on assets under management.
3. Insurance Products: Insurance products offered through Cetera Wealth Services (doing insurance business in CA as CFGAN Insurance Agency LLC), providing life insurance, disability income insurance, and long-term-care insurance.

Go-to-market motion1 record

Distribution channels2 records

Marketing channels5 records

Core offering

Herrera Financial Services provides personalized financial advisory services to individuals and small businesses, including investment management (IRAs, brokerage accounts, bonds, stocks, annuities), comprehensive financial planning (retirement, tax, estate, college, 401(k)/403(b) plans), and insurance products (life, disability income, and long-term care). The firm operates as an independent financial professional affiliated with Cetera Wealth Services LLC and Avantax, delivering these services through in-person consultations at its Claremont, CA office.

Product overview

Herrera Financial Services offers a comprehensive suite of financial services focused on retirement strategies for individuals. The firm provides three core service areas: Investment Services (including various IRA types, brokerage accounts, bonds, and annuities), Financial Planning (covering retirement plans, tax plans, estate plans, and college savings), and Insurance Services (disability income, life insurance, and long-term care). The company is affiliated with Cetera Wealth Services LLC and Avantax, providing access to a broader network of financial professionals. The firm complements its service offerings with extensive educational resources organized into specialized Resource Centers for Retirement, Estate, Investment, Insurance, Tax, Money, and Lifestyle topics, along with practical tools including a Financial Glossary (200+ terms), Tax Resources Center, and various financial calculators.

Differentiator

Problem solved

Functional benefit

Products and services

• Investment Services Investment management services for individuals and small businesses, including Bonds, Common Stock, Educational IRA, Traditional IRA, Roth IRA, SEP IRA, Simple IRA, Brokerage Accounts, Treasury Bills, Government Securities, Treasury Notes, and Variable Annuity products.
• Financial Planning Services Comprehensive financial planning services covering Retirement Plans, Tax Plans, 401(k) Planning, 403(b) Planning, College Plans, Estate Plans, Money Purchase Plans, and Profit Sharing Plans, tailored to individual goals and risk tolerance.
• Insurance Services Insurance products including Disability Income Insurance, Life Insurance, and Long-Term-Care Insurance to protect families from the financial consequences of life's events.

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Two partnerships are on record, tiered core and primary.

• AvantaxcoreChannel Partner/ Reseller/ Distributor · 1 January 2023Avantax is a distinct community within Cetera Wealth Services LLC. The tax-focused movement started in 1983 and unified with HD Vest and 1st Global in 2019. The firm joined Cetera in 2023, with Avantax supporting over 3,000 Financial Professionals and approximately $107 billion in assets under administration across all 50 states as of June 2025.
• Cetera Wealth Services LLCprimaryChannel Partner/ Reseller/ DistributorSecurities offered through Cetera Wealth Services LLC (doing insurance business in CA as CFGAN Insurance Agency LLC), member FINRA/SIPC. Advisory services offered through Cetera Investment Advisers LLC. This is the primary affiliation for the firm's brokerage and advisory services, enabling them to serve clients across all 50 states.

Scale indicators2 records

Recent moves4 records

Expansion highlights4 records

Direct peers

• Mercer Advisors: National RIA specializing in holistic retirement income, tax, and estate planning for households approaching or in retirement; the closest scaled analog to Herrera's planning-led, retirement-focused value proposition.
• Hightower Advisors: RIA partnership platform supporting breakaway and independent advisors with comprehensive wealth management services; comparable operating model of an independent practice backed by a larger platform's compliance and investment infrastructure.
• Mariner Wealth Advisors: Independent wealth advisory firm offering investment, tax, estate, and retirement planning through local advisor teams; mirrors Herrera's holistic planning approach delivered via regional offices.

Emerging players

• Facet Wealth: Tech-enabled flat-fee RIA serving mass-affluent and retirement-focused households with virtual financial planning; overlaps Herrera's target segment but competes on price and digital convenience rather than local relationships.

Others

• Cetera Wealth Services: Parent broker-dealer and registered investment adviser that hosts the Avantax community and provides the regulatory, technology, and product infrastructure on which Herrera Financial Services depends for all client transactions.

Broad incumbents

• LPL Financial: Largest independent broker-dealer in the U.S., hosting thousands of affiliated financial advisors offering investment, retirement, and insurance services; competes with Cetera for the same independent-advisor affiliation model.
• Edelman Financial Engines: Nation's largest independent RIA combining advisor-led financial planning with digital planning tools, focused heavily on retirement-plan participants and retirees; directly competes for the same boomer retirement demographic.
• Fisher Investments: Large independent RIA serving high-net-worth and retirement-focused investors with portfolio management and retirement income strategies; comparable in retirement-planning emphasis but operates at vastly greater AUM scale.
• Edward Jones: Large national broker-dealer with thousands of local financial advisors offering retirement, investment, and insurance planning to mass-affluent households; competes with Herrera for the same retiree/pre-retiree segment through a much larger branch footprint.
• Creative Planning: Large multi-family RIA delivering comprehensive financial planning, investment management, tax, and estate services to individuals and businesses nationwide; overlaps Herrera's holistic planning model at significantly greater scale.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat3 records

Key risks4 records

Key highlights5 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Herrera Financial Services