Pleasanton WealthSamah Naguib, CFA® · Fee-only fiduciary Start a private review

Pleasanton, CA · Independent RIA since 2018

Tax-aware wealth management, engineered by a CFA® charterholder.

For Tri-Valley business owners and high-bracket households: portfolios built around after-tax results, California municipal bond ladders, and retirement plans that work for the owner — managed by one accountable fiduciary. No hand-offs. No commissions.

Three short questions. A personal reply from Samah within one business day.

The problem

Taxes are the largest cost most portfolios never measure.

Returns are reported before tax. You live on what's left after it. For a Californian in the top brackets, the gap between the two is often larger than any fee, and it compounds every year it goes unmanaged.

  • Tax drag. Taxable bond interest, short-term gains and poorly placed assets can quietly give away a meaningful share of each year's return.
  • Concentration risk. Business owners often carry most of their net worth in one company, one real-estate market and one tax jurisdiction.
  • Unmanaged volatility. Without a defined fixed-income core, withdrawals are forced to come from whatever just fell.
54.1%Combined top marginal rate on ordinary interest income for a California resident: 37% federal + 3.8% net investment income tax + 13.3% state.
0%Federal and California income tax on interest from most California general-obligation municipal bonds for California residents.

Rates shown are 2026 statutory top marginal rates for illustration only; your effective rate depends on your full tax picture. Some municipal bonds are subject to the alternative minimum tax. Pleasanton Wealth does not provide tax advice; we coordinate with your CPA.

The alternative

Institutional discipline. Without the institution.

Large firms spread your relationship across teams, platforms and product shelves. A boutique RIA built around one CFA® charterholder keeps the analysis, the decision and the accountability in the same place.

Large wealth firm compared with Pleasanton Wealth
Typical large firmPleasanton Wealth
Who manages your moneyA rotating team; junior associates handle day-to-daySamah Naguib, CFA®, personally
Portfolio constructionModel portfolios and in-house productsBuilt for your tax bracket, cash needs and business
Fixed incomeBond funds by defaultIndividual California municipal bonds in laddered maturities, when appropriate
How the firm is paidOften a mix of fees, commissions and product revenueAdvisory fees from clients only
Decision speedCommittees, tickets and call centersOne decision-maker. Direct email and phone.
CustodyOften the firm itselfIndependent custodian: Charles Schwab & Co., Inc.

Strategic pillars

Three disciplines. One integrated plan.

01

Tax-aware portfolio management

Every decision is measured after tax, not before.

  • Tax-loss harvesting, applied systematically when markets fall
  • Asset location across taxable, IRA and Roth accounts
  • Gain budgeting, lot selection and low-turnover implementation
  • Coordination with your CPA before year-end, not after
Review my tax drag
02

California municipal bond ladders

Individual California general-obligation bonds, laddered by maturity, owned directly in your Schwab account.

  • Interest generally exempt from federal and California income tax
  • Scheduled coupons and known maturity dates
  • Credit, call-feature and maturity selection bond by bond
  • No fund-level expense ratio on the bonds you own
How a CA muni ladder works
03

Retirement systems for business owners

Plans designed around the owner's savings goals and the business's cash flow.

  • 401(k), Safe Harbor 401(k), SIMPLE IRA and SEP IRA design
  • CalSavers alternative and exemption
  • SECURE 2.0 startup tax credit planning
  • Plan investment management and employee education
Retirement plans for my business

Allocation philosophy

A disciplined 70/30 core, rebalanced as markets move.

Our starting framework holds roughly 70% in diversified global equities for long-term growth and 30% in high-grade fixed income, often California municipal bonds, for scheduled income and stability. The fixed-income side is built as a rolling ladder: as each bond matures, the proceeds fund withdrawals or buy a new bond at the long end.

The mix is a starting point, not a template. Your actual allocation is set in writing around your cash needs, time horizon, tax bracket and tolerance for risk, and reviewed at least annually.

Growth engineGlobal stocks, low-turnover, tax-loss harvested when opportunities arise.
Income ladderHigh-grade bonds maturing year by year, so near-term cash needs are planned rather than sold into.

Run the math

California tax-equivalent yield calculator

What a taxable bond would need to yield to match a tax-exempt California municipal bond, after federal and state income tax.

Taxable-equivalent yield 7.63%

A taxable bond would need to yield about this much to match, at a combined marginal rate of 54.1%.

Simplified illustration: combined rate = federal + NIIT + California, ignoring deductions, AMT and the SALT cap. Not a quote or recommendation. Yields and tax treatment vary by bond.

How we operate

A solo practice, by design.

Pleasanton Wealth is deliberately small. That is the point: the person who analyzes your portfolio is the person who makes the decision and answers for it.

You work with Samah. Every time.

Your review meetings, your questions and your trades go through one person: a CFA® charterholder with more than 20 years in investments, including advisory roles at Charles Schwab. There is no relationship manager relaying messages to an investment team you never meet.

  • Direct email and phone line
  • Meetings in Pleasanton, by video or at your office
  • The same analyst on your file year after year

Safeguarding your assets

Your money stays in your name, at Schwab.

Pleasanton Wealth never holds client funds. Assets are held by an independent, qualified custodian: Charles Schwab & Co., Inc., through Schwab Advisor Services, one of the largest custodians serving independent advisers.

  1. You open the account in your own name at Schwab. Account paperwork is completed with Schwab; your advisory agreement with us is signed electronically through Adobe Acrobat Sign.
  2. You grant Pleasanton Wealth limited authority. We can place trades and, where you authorize it in writing, deduct advisory fees. We cannot withdraw money to ourselves or anyone else.
  3. Schwab reports to you directly. You receive statements and tax forms from Schwab and can log in at schwab.com at any time.
  4. Independent protection. Schwab is a member of SIPC. SIPC coverage protects securities customers if a member firm fails; it does not protect against market losses.

Fiduciary duty & transparency

We answer only to you.

As a registered investment adviser, Pleasanton Wealth owes its clients a fiduciary duty: a legal obligation to act in your best interest, put your interests ahead of our own and disclose any conflicts.

Being fee-only means the firm is compensated solely by its clients. We are not a broker-dealer, we do not sell insurance or commissioned products, and we receive no payments from fund companies. The only way we earn more is if you choose to keep working with us.

For business owners

Every California employer now needs a plan, or CalSavers.

As of January 1, 2026, any California business with at least one W-2 employee must either offer a qualified retirement plan or register with the state's CalSavers program. Businesses that ignore the notice can face per-employee penalties.
  • Already have a plan? You still need to file a CalSavers exemption.
  • CalSavers meets the rule, but it's a basic Roth IRA with no employer match.
  • A 401(k), SIMPLE IRA or SEP IRA can do far more for the owner and the team, and may qualify for federal startup tax credits under SECURE 2.0.

SIMPLE IRA vs. SEP IRA vs. 401(k)

CalSavers compared with an employer retirement plan
2026CalSaversYour own 401(k)
Employee savings limit$7,500$24,500 + catch-up
Age 50+ / 60–63 total$8,600$32,500 / $35,750
Employer match or profit sharingNot allowedYes, you design it
Federal startup tax creditsNoMay qualify

What could a plan look like in dollars?

One hypothetical example: a six-person dental practice adopts a SIMPLE IRA.

The owner earns $180,000; five employees each earn $50,000 and contribute enough to receive the full 3% match.

The owner puts $22,400 toward retirement, the team receives $7,500 in matching dollars, and potential federal credits can offset a large share of first-year cost.

Once the plan is running, the same CFA® charterholder manages the owner's personal portfolio, so business and household decisions are made with one view of the whole balance sheet.

Review my business
Owner salary deferral$17,000
Practice match for owner (3%)$5,400
Practice match for 5 employees$7,500
Illustrative first-year plan cost$1,250
Gross business cost (matches + plan)$14,150
Potential first-year federal credits−$6,250
Estimated cost after credits$7,900

Hypothetical 2026 illustration only — not a quote, projection, or tax recommendation. The potential $6,250 assumes a $1,250 startup-cost credit plus a $1,000 employer-contribution credit for each of five eligible employees, and that the employer, plan, employees and costs qualify under current federal rules. Credits are not guaranteed and cannot also be deducted. Confirm eligibility with a qualified tax adviser.

The engagement

From first conversation to a managed portfolio.

  1. Private review

    A complimentary conversation about your goals, accounts and tax picture.

  2. Document analysis

    Statements, tax returns and plan documents reviewed line by line for tax drag, concentration and cost.

  3. Written proposal

    Allocation, fixed-income ladder and tax strategy, with fees disclosed in writing before you sign.

  4. Implementation & review

    Accounts opened at Schwab, portfolio implemented, then monitored and reviewed with you at least annually.

The adviser

Samah Naguib, CFA®

20+years in investments
2018founded Pleasanton Wealth
CFA®charterholder

Samah founded Pleasanton Wealth after more than two decades in investments. She previously held financial advisory roles at Charles Schwab, co-founded Profit Brokerage Inc., and began her career with the United States Agency for International Development (USAID) and the United Nations Development Programme (UNDP). She holds bachelor's and master's degrees in finance and economics.

Her work centers on the parts of wealth management where analysis matters most: fixed-income construction, tax-aware portfolio decisions and retirement plan design for business owners. She works directly with each client and coordinates with their CPA and estate attorney.

Candid guidance, no pressure. If Pleasanton Wealth isn't the right fit, Samah will tell you, and suggest what is.

Questions, answered precisely

Is Pleasanton Wealth a fiduciary?

Yes. Pleasanton Wealth LLC is a California-registered investment adviser and acts as a fiduciary to its advisory clients, which means advice must be in your best interest. The firm is fee-only: it is compensated by its clients, not by commissions on products.

Where are my assets held?

In your own name at Charles Schwab & Co., Inc., an independent qualified custodian. Pleasanton Wealth does not hold client money. You receive statements directly from Schwab and can log in at any time.

Are California municipal bonds exempt from state tax?

Interest on bonds issued by California and its municipalities is generally exempt from federal and California income tax for California residents. Some bonds can be subject to the alternative minimum tax, and gains on bonds are taxable. We coordinate with your CPA.

Why a bond ladder instead of a bond fund?

A ladder holds individual bonds maturing on a set schedule, so each bond's principal is scheduled to be repaid at maturity if the issuer does not default, and cash flows are known in advance. A bond fund has no maturity date and its share price moves with interest rates. Read how a California muni ladder works.

How are your fees structured?

Our fees are simple and transparent: generally based on assets under management (AUM), and always disclosed in writing before you sign. Our Form ADV brochure is public.

What is the difference between a CFA® charterholder and a CFP®?

The CFA® charter is a graduate-level credential focused on investment analysis, portfolio management, fixed income and ethics, and requires passing three exams plus qualified work experience. The CFP® certification focuses on broad personal financial planning.

Does my California business have to offer a retirement plan?

Since January 1, 2026, California employers with at least one W-2 employee must either offer a qualified retirement plan, such as a 401(k), SIMPLE IRA or SEP IRA, or register with the state CalSavers program. If you already sponsor a plan, you still need to file an exemption with CalSavers.

Who do you work with?

Business owners, professionals and families in Pleasanton, Dublin, Livermore, San Ramon, Danville and across California, along with small businesses of 1 to 100 employees that need a retirement plan.

Weekly Market Commentary

A short, data-first read each week on rates, markets and what they mean for taxable investors and business owners.

Free resource

The Small Business Retirement Plan Checklist

Every decision, setup step and annual review a California owner should know — on one printable page. Enter your email and we'll open it for you right away.

What is your primary financial focus?

Choose the one that matters most today.