Read an interview with George Hoover Jr. in the Del Mar Times

I recently participated in a sponsored Q&A for the Del Mar Times Business Spotlight. We discussed my family's history in Del Mar, how Torrey Growth & Income Advisors expanded to Washington, D.C., and three retirement decisions I wish more people would plan for earlier.

Read the full interview on the San Diego Union-Tribune website →

Below are a few highlights from the interview, along with more detail on the topics we discussed.

A family-owned wealth management firm rooted in Del Mar

Our story begins with my father, George Hoover Sr. He served as a U.S. Foreign Service Officer with the State Department in Europe and South America before joining Merrill Lynch in San Diego in 1967. I joined him in the 1990s, and in 2006 we co-founded Torrey Growth & Income Advisors as an independent, fee-only fiduciary wealth management firm.

Today, the third generation of our family is part of the firm. My children, Zealan, Kian, and Eden, work alongside me. We have also built lasting relationships with many of the families we serve, and some clients have been with us since those early days.

Family ownership allows us to take a long-term approach to wealth management, with an emphasis on personal relationships, continuity, and helping families navigate financial decisions across generations.

Who we serve: Families with complex financial needs

Torrey Growth generally works with individuals and families who have at least $1 million in investable assets. We are often most helpful when substantial wealth comes with financial complexity.

That complexity can include multiple investment accounts, large unrealized capital gains, concentrated stock positions, equity compensation, or valuable real estate that needs to be considered alongside a family's other assets and retirement goals.

Our services include investment management, financial planning, and wealth and legacy planning. We also manage investments for donor-advised funds and private foundations, helping families incorporate charitable giving into their broader financial plans.

Learn more about our work with coastal California families, business owners and executives, and mission-driven investors and foundations.

Why independent, fee-only financial advice matters

As a fee-only fiduciary, Torrey Growth is compensated directly by clients rather than through commissions on financial products. Our independence gives us flexibility to evaluate investments and develop strategies around each family's financial circumstances.

That flexibility can matter when clients have accumulated wealth over many years. Selling appreciated investments can create significant tax liabilities, so we consider existing holdings, potential tax consequences, and broader financial goals before recommending changes to a portfolio.

Instead of assuming every family should follow the same investment models, we begin by understanding what clients own, what they need their wealth to accomplish, and how their financial decisions fit together.

From Del Mar to Washington, D.C.

I grew up in Del Mar and worked as a Del Mar city lifeguard long before entering finance. Many of our clients still call San Diego and coastal California home, but our reach has long extended beyond the area. Some of our earliest clients were State Department families who moved frequently for their careers. Later, as our local clients' children grew up and moved away, many became clients themselves. Today, we serve families in more than 20 states.

We opened our Washington, D.C., office when my son Zealan joined the firm. Before Torrey Growth, Zealan worked at McKinsey & Company advising major companies and financial institutions on corporate strategy. He also served at the White House on climate and energy policy and as a senior official at the U.S. Environmental Protection Agency, where he worked on major clean energy financing programs.

From Washington, Zealan leads our work with current and former federal employees. Their financial planning often involves coordinating a FERS pension with the Thrift Savings Plan (TSP), navigating federal ethics requirements such as OGE 278 reporting and investment restrictions, and planning for the transition into retirement or a second career.

Three retirement decisions worth planning early

When the Del Mar Times asked what people should understand before retiring, I pointed to the years surrounding retirement as one of the most important windows for financial planning. Three decisions deserve particular attention.

1. The order in which you draw from retirement accounts

Many retirees have a combination of taxable brokerage accounts, tax-deferred accounts such as traditional IRAs and 401(k)s, and Roth accounts. Which accounts you draw from, and when, can affect your annual tax bill and the taxes you pay over the course of retirement. The right withdrawal strategy depends on your income, investments, spending needs, and long-term goals.

2. When to claim Social Security

Eligible workers can generally claim Social Security retirement benefits as early as age 62 or delay claiming until age 70. Claiming before full retirement age reduces the monthly retirement benefit relative to the full-retirement-age amount, while delaying beyond full retirement age increases the benefit through age 70. The right timing depends on factors such as life expectancy, other sources of retirement income, marital status, and the potential value of spousal or survivor benefits.

3. Whether to make Roth conversions before required minimum distributions begin

Required minimum distributions (RMDs) from traditional retirement accounts generally begin at age 73 or 75, depending on birth year and applicable law. The years between retirement and the start of Social Security or RMDs can create opportunities to convert some traditional IRA or eligible retirement savings into a Roth account, potentially at lower tax rates than would apply later.

Roth conversions increase taxable income in the year they occur and can affect other aspects of a household's tax situation, including Medicare premiums. The timing and amount of any conversion should be evaluated as part of a broader financial and tax plan.

These decisions interact with one another, as well as with a family's investments, spending needs, and tax situation. For many families in Del Mar and coastal San Diego, another consideration is the role of real estate in their overall wealth. A valuable home can contribute substantially to net worth without generating regular cash flow for retirement. Decisions about downsizing, selling property, or otherwise accessing home equity may therefore be important parts of the plan.

That is why I encourage people to start retirement planning five or ten years before leaving the workforce, rather than waiting until they approach their last day at work.

Looking ahead: The next generation of Torrey Growth

Torrey Growth recently celebrated 20 years as an independent firm. My long-term goal is for the firm to remain family-owned, independent, and based in Del Mar when our clients' grandchildren need us.

Our team has grown, giving us the capacity to support more families while maintaining the personal relationships that have defined the firm from the beginning. We intend to remain small enough that our clients know who they are working with, and we know them.

Whether you are approaching retirement, managing a complex portfolio, or navigating the transition from federal service, we welcome conversations about your financial goals and the decisions ahead.

Contact Torrey Growth & Income Advisors →

Read the full Del Mar Times interview →