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R Republican · State Controller, California · Nov 3, 2026

Herb
W Morgan

Republican businessman Herb W. Morgan is challenging Democratic incumbent Malia Cohen for California State Controller in November 2026.

Background

Herb W. Morgan is a Republican candidate for California State Controller in the November 2026 general election, challenging Democratic incumbent Malia Cohen, who was first elected to the office in 2022. 2913

Morgan grew up in Westminster and Oceanside, California, and is described by the Los Angeles Times as "a Republican from San Diego." He graduated with honors from the University of California, Santa Cruz, though his campaign biography does not specify a degree or graduation year. 116

Before entering politics, Morgan founded Efficient Market Advisors, a registered investment advisory firm that his campaign states grew to manage $1.5 billion in assets before being acquired in 2017. KPBS identifies the acquiring firm as Cantor Fitzgerald Investment Advisors. Morgan subsequently served as chief investment officer at the acquiring firm for nearly 10 years, retiring in 2026. He also serves on the board of The Private Shares Fund since September 2023. 1912

Morgan previously served on the San Diego City Employees' Retirement System board, having been appointed by Mayor Jerry Sanders and later elected board chair twice by fellow trustees—an appointed board role, not an elected public office. His campaign focuses on themes of government accountability and fiscal transparency. 11217

At a glance

Party
Republican
Running for
State Controller, California
Election
Nov 3, 2026
Website
herbmorgan.com(opens in a new tab)

Where they stand

Each position links to the page it was drawn from. Quotes are verbatim.

Timeline

  1. Oct 7
    news
    Morgan weighs in on hospice fraud oversight in Orange County Register interview

    Morgan proposed that the controller audit claims and payments related to hospice fraud, with claim-lineage reviews, risk flags, public exception registers, and recovery of improper payments.

    How can California better manage hospice fraud? California's ... · Oct 7, 2026 (opens in a new tab)
  2. Oct 5
    endorsement
    McClatchy editorial boards including Sacramento Bee and Fresno Bee endorse Morgan

    Politico reported that California McClatchy editorial boards, including those of the Sacramento Bee and Fresno Bee, backed Morgan, citing his investment background. The boards noted Cohen had not responded to their interview requests.

    www.politico.com › newsletters › california-playbookAltman’s interview and Newsom’s limits - POLITICO · Oct 5, 2026 (opens in a new tab)
  3. Oct 5
    news
    Morgan appears at Republican candidate forum in Rancho Mirage, touts spending transparency

    At a Republican statewide candidate forum in Rancho Mirage, Morgan focused on spending transparency and fraud, claiming his plan to put spending online could save about $80 billion a year. That figure is his estimate, not independently established.

    Republican statewide candidates make their pitch to ... · Oct 5, 2026 (opens in a new tab)
  4. Oct 5
    news
    Morgan discusses oversight and fraud proposals in Daily News questionnaire

    Morgan said the controller should audit claims and payments touching the Treasury, and proposed claim-lineage reviews, risk flags, public exception registers, and recovery of improper payments, with goals of publishing material state payments and tracking program outcomes.

    Herb Morgan, California controller candidate, 2026 election ... · Oct 5, 2026 (opens in a new tab)
  5. Oct 5
    poll
    ABC7 reports Morgan's internal poll shows single-digit gap, notes campaign origin

    ABC7 reported on Morgan's campaign-commissioned poll showing a single-digit gap with Cohen, but cautioned that it was commissioned by his campaign. No independent general-election poll was found in available sources.

    California controller race heats up as candidates clash over fraud ... · Oct 5, 2026 (opens in a new tab)
  6. Oct 1
    news
    Morgan outlines blockchain and AI transparency proposal in LA Times voter guide

    In an interview with the Los Angeles Times, Morgan proposed a real-time public spending system using blockchain and AI to show state contract prices, recipients, and flag unusual transactions or potential conflicts. He also called for continuing audits of high-dollar, high-risk programs.

    California controller election voter guide: Cohen vs. Morgan · Oct 1, 2026 (opens in a new tab)
  7. Oct 1
    news
    State Auditor report on Cohen's office becomes a campaign issue for Morgan

    The State Auditor reported problems in the Controller's Office involving collection of more than $33,000 in employee salary overpayments and controls over remote out-of-state employees. Morgan criticized Cohen's oversight in response. The findings concern the incumbent's office, not Morgan.

    California auditor finds waste inside controller's office - NY Post · Oct 1, 2026 (opens in a new tab)
  8. Oct 1
    news
    Morgan proposes returning $15 billion in unclaimed property to California residents

    Morgan said he wanted to return the $15 billion in unclaimed property the state holds to its rightful owners. His campaign also publishes contributions on a public blockchain ledger.

    CA Controller Candidate Herb Morgan Wants to Return $15 Billion to Residents · Oct 1, 2026 (opens in a new tab)
  9. Sep 19
    news
    Fundraising snapshot shows Cohen with $1.6M cash on hand vs. Morgan's ~$140,000

    A voter guide citing California Secretary of State data reported Cohen had more than $1.6 million in cash on hand while Morgan had roughly $140,000.

    Your guide to the California state controller race · Sep 30, 2026 (opens in a new tab)
  10. Sep 15
    poll
    Morgan campaign releases internal poll showing single-digit gap with Cohen

    A survey of 828 likely voters conducted September 15–16, commissioned by Morgan's campaign and conducted by pollster David Wolfson, put Cohen at 49.5% and Morgan at 41.2%, with 9.4% undecided. After additional information, the margin shifted to 48.7%–42.5%. A model allocating undecided voters put Cohen at 52.3% and Morgan at 47.7%. Margin of error was ±4 points. The poll was campaign-commissioned and not an independent measure of the race.

    New Statewide Poll: California Controller Race ... - Herb Morgan · Sep 24, 2026 (opens in a new tab)
  11. Jun 2
    filing
    Morgan advances from top-two primary with 41.1% of the vote

    In the June 2 top-two primary, incumbent Malia Cohen received 54.7% and Morgan 41.1%, qualifying both for the November 3 general election ballot. Meghann Adams received 4.2%.

    Your guide to the California state controller race · Sep 30, 2026 (opens in a new tab)

Endorsements

  • Steven Choi, State Senator official
    Listed on Morgan campaign endorsements page; no date given. herbmorgan.com
  • Martin Garrick, former Assembly Minority Leader official
    Former official; listed on Morgan campaign endorsements page; no date given. herbmorgan.com
  • California Republican Hispanic Club organization
    Listed on Morgan campaign endorsements page; no date given. herbmorgan.com
  • 23 County Republican Parties (including Alameda, Fresno, Riverside, San Diego, Santa Clara, and Ventura counties) organization
    Listed on Morgan campaign endorsements page; no date given. herbmorgan.com
  • Shannon Grove, State Senator official
    Listed on Morgan campaign endorsements page; no date given. herbmorgan.com
  • John Franklin, Mayor of Vista official
    Listed on Morgan campaign endorsements page; no date given. herbmorgan.com
  • California Republican Party organization
    Listed on Morgan campaign endorsements page; no date given. herbmorgan.com
  • Lincoln Club of Orange County organization
    Listed on Morgan campaign endorsements page; no date given. herbmorgan.com
  • Deputy Sheriffs' Association of San Diego County union
    Endorsement page links to a June 2, 2026 endorsement list but does not state a specific date for Morgan's endorsement. sway.co
  • Tony Strickland, State Senator official
    Listed on Morgan campaign endorsements page; no date given. herbmorgan.com
  • Kevin Faulconer, former Mayor of San Diego official
    Former official; listed on Morgan campaign endorsements page; no date given. herbmorgan.com
  • California Congress of Republicans organization
    Listed on Morgan campaign endorsements page; no date given. herbmorgan.com
  • New Majority Orange County organization
    Listed on Morgan campaign endorsements page; no date given. herbmorgan.com
  • Andrew Hayes, School District Trustee, Lakeside Union School District official
    Listed on Morgan campaign endorsements page; no date given. herbmorgan.com
  • Unity Party of California organization
    Listed on Morgan campaign endorsements page; no date given. herbmorgan.com
  • New Majority Los Angeles organization
    Listed on Morgan campaign endorsements page; no date given. herbmorgan.com
  • Roger Niello, State Senator official
    Listed on Morgan campaign endorsements page; no date given. herbmorgan.com
  • Joe Vinatieri, former Mayor of Whittier official
    Former official; listed on Morgan campaign endorsements page; no date given. herbmorgan.com
  • Capital Lincoln Club organization
    Listed on Morgan campaign endorsements page; no date given. herbmorgan.com
  • Howard Jarvis Taxpayers Association PAC organization
    Listed on Morgan campaign endorsements page; no date given. herbmorgan.com
  • Brian Jones, State Senate Minority Leader official
    Listed on Morgan campaign endorsements page; no date given. herbmorgan.com
  • David Tangipa, Assemblymember official
    Listed on Morgan campaign endorsements page; no date given. herbmorgan.com
  • John Shadegg, former Arizona Congressman official
    Former official; listed on Morgan campaign endorsements page; no date given. herbmorgan.com
  • Lincoln Club of Los Angeles County organization
    Listed on Morgan campaign endorsements page; no date given. herbmorgan.com
  • United Indian Council organization
    Listed on Morgan campaign endorsements page; no date given. herbmorgan.com
  • Rosilicie Ochoa-Bogh, State Senator official
    Listed on Morgan campaign endorsements page; no date given. herbmorgan.com
  • Joe Franklin, Mayor Pro Tem of Manhattan Beach official
    Listed on Morgan campaign endorsements page; no date given. herbmorgan.com
  • California Republican Assembly organization
    Listed on Morgan campaign endorsements page; no date given. herbmorgan.com
  • New Majority San Diego organization
    Listed on Morgan campaign endorsements page; no date given. herbmorgan.com
  • Carl DeMaio, Assemblymember official
    Listed on Morgan campaign endorsements page; no date given. herbmorgan.com
  • Tony Hall, former San Francisco Supervisor official
    Former official; listed on Morgan campaign endorsements page; no date given. herbmorgan.com
  • Keep Orange Red organization
    Listed on Morgan campaign endorsements page; no date given. herbmorgan.com
  • California Rifle & Pistol Association organization
    Listed on Morgan campaign endorsements page; no date given. herbmorgan.com
  • Kelly Seyarto, State Senator official
    Listed on Morgan campaign endorsements page; no date given. herbmorgan.com
  • The Sacramento Bee, Modesto Bee, Merced Sun-Star, Fresno Bee, and San Luis Obispo Tribune editorial boards newspaper
    Editorial boards wrote that Morgan was 'the most qualified person for the office.' sacbee.com · Oct 1, 2026
  • Orange County Register editorial board newspaper
    Endorsed Morgan for state controller. ocregister.com · Sep 6, 2026
  • San Bernardino Sun editorial board newspaper
    Endorsed Morgan for state controller. sbsun.com · Sep 6, 2026

Sources 19

  1. [1] Herb W Morgan(opens in a new tab) Oct 9, 2026
  2. [2] Voter Guide Profile for CA Controller candidate - Herb W Morgan(opens in a new tab) Oct 9, 2026
  3. [3] How can California better manage hospice fraud? California's ...(opens in a new tab) Oct 7, 2026
  4. [4] Deputy Sheriffs' Association of San Diego's Voting Group | Sway(opens in a new tab) Oct 6, 2026
  5. [5] California controller race heats up as candidates clash over fraud ...(opens in a new tab) Oct 5, 2026
  6. [6] Herb Morgan, California controller candidate, 2026 election ...(opens in a new tab) Oct 5, 2026
  7. [7] Herb Morgan, California controller candidate, 2026 election ...(opens in a new tab) Oct 5, 2026
  8. [8] Republican statewide candidates make their pitch to ...(opens in a new tab) Oct 5, 2026
  9. [9] www.politico.com › newsletters › california-playbookAltman’s interview and Newsom’s limits - POLITICO(opens in a new tab) Oct 5, 2026
  10. [10] CA Controller Candidate Herb Morgan Wants to Return $15 Billion to Residents(opens in a new tab) Oct 1, 2026
  11. [11] California auditor finds waste inside controller's office - NY Post(opens in a new tab) Oct 1, 2026
  12. [12] California controller election voter guide: Cohen vs. Morgan(opens in a new tab) Oct 1, 2026
  13. [13] For California state controller, a Republican is the superior candidate.(opens in a new tab) Oct 1, 2026
  14. [14] Your guide to the California state controller race(opens in a new tab) Sep 30, 2026
  15. [15] New Statewide Poll: California Controller Race ... - Herb Morgan(opens in a new tab) Sep 24, 2026
  16. [16] Endorsement: Herb Morgan for state controller(opens in a new tab) Sep 6, 2026
  17. [17] Endorsement: Herb Morgan for state controller - San Bernardino Sun(opens in a new tab) Sep 6, 2026
  18. [18] Herb Morgan, California controller candidate, 2026 primary election questionnaire(opens in a new tab) May 5, 2026
  19. [19] Herb Morgan Endorsements | California State Controller 2026(opens in a new tab) Mar 17, 2026
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