Top Financial Advisors in Cleveland, OH

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With billions in assets under management (AUM), MAI Capital Management leads the pack of Cleveland financial advisor firms.

This fee-only firm works with both non-high-net-worth and high-net-worth individuals, as well as investment companies, pooled investment vehicles, pension and profit-sharing plans, charitable organizations, other investment advisors and corporations.

To become a client, you’ll need at least $500,000 in investable assets.

Advisors at the firm hold multiple certifications, including certified financial planner (CFP), certified public accountant (CPA) and chartered financial analyst (CFA), among other designations.

Depending on the account or strategy, MAI charges performance-based fees on some funds. As a fee-only firm, MAI does not earn any commissions on the sales of insurance products.

MAI Capital Management Background

MAI was originally established in 1973. The firm has gone through a number of name changes and restructurings throughout the years. It was originally known as Investment Advisors International, an affiliate of the sports management firm International Management Group. In 2014, the firm assumed the name it’s known as now.

The principal owner is MAI Capital Holdings, a subsidiary of Galway Insurance Holdings.  

Services offered at MAI Capital management include wealth management, investment management, tax planning, financial planning and estate planning. 

MAI Capital Management Investment Strategy

MAI says that it provides investment, wealth management and advisory services.

Additionally, the firm's brochure features the following investment strategies:

• Dividend strategy
• Focused equity strategy
• Growth equity strategy
• Diversified dividend strategy
• Diversified focused equity strategy
• Exchange traded fund (ETF) strategies
• High income yield strategy
• MAI managed volatility strategy
• Fixed income – tax exempt strategy
• Fixed income – taxable strategy

MAI also serves as a manager to certain investment-related limited liability companies and limited partnerships.

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This fee-only firm works with both high-net-worth and non-high-net-worth individuals, as well as retirement plans and corporations.

Clearstead Advisors' team includes several chartered financial analysts (CFAs), certified public accountants (CPAs) and certified financial planners (CFPs), among other designations. 

The firm has no set account minimum.

Clearstead Advisors Background

Until 2018, the firm was known as Hartland & Co. In 1989, when the firm was first founded, clients were defined benefit pension plans. As the years went on, the company began serving private clients.

The firm is owned by Hartland Management Investors, LLC. It offers investment management services, financial planning, tax planning and compliance, and family office administration.

Clearstead Advisors Investment Strategy

Clearstead Advisors says that it manages advisory accounts for clients on a discretionary or non-discretionary basis. Investment strategies generally use mutual funds and exchange-traded funds (ETFs), as well as separately managed accounts and alternative investments like hedge-funds and private equity.

When choosing which funds to invest in, the firm uses qualitative and quantitative investment manager research.

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Marcum Wealth works with both non-high-net-worth and high-net-worth individuals, retirement plans, charities and corporations.

As a fee-based firm, Marcum advisors can sell insurance products to clients on a commission-basis. This potential conflict of interest is mitigated by the firm's status as a fiduciary, which mandates that advisors act in the best interests of clients at all times.

Marcum doesn't have a minimum account balance requirement.

Marcum Wealth Background

Marcum Wealth was founded in 2006. It registered with the SEC as an investment advisor a year later, in 2007. The firm has a broad ownership circle, being owned by Marcum, LLP, Christopher Bart, James Butler, Steven Brett, Robert D. Coode, Robert E. Coode, Wendy Eldridge, Charles Hoffmann, Peter Hoffmann, Charles Moore, Perry Reghetti, Matthew Reghetti, Eric Wulff, Jeffrey Weiner and Aurum Holdings, LLC.

Marcum Wealth Investment provides both investment management and financial planning services to clients. It may provide these services to clients simultaneously or separartely using a number of approaches.

Marcum Wealth Investment Strategy

Marcum Wealth provides clients with individualized apporaches to investment portfolios. It determines asset allocation strategies based on client financial goals, objectives and risk tolerance. 

The firm also tailors its advisory services depending on cash flow, liquidity, risk tolerance and return expectations.

The firm and its advisors primarily take a long-term approach to investing, looking to invest on a 10-year or greater time horizon.

Assets are primarily allocated among global equities, fixed-income securities, diversified alternative strategies and cash.

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Wellspring Financial Advisors is a fee-only firm with no account minimum. Clients of this firm include both non-high-net-worth and high-net-worth individuals, and charities.

The firm's team holds multiple certifications such as certified public accountant (CPA), accredited estate planner (AEP), certified financial planner (CFP) and chartered financial analyst (CFA), among other designations.

Wellspring Financial Advisors Background

Wellspring Financial Advisors was founded in 2007. Michael Novak, managing director, is the principal owner of the firm.

The firm offers services such as financial planning, income tax planning, business succession and family office services. 

Wellspring Financial Advisors Investment Strategy

Wellspring Financial Advisors considers diversification, quality, liquidity and transparency as the four main drivers of its investment strategy. When building your portfolio, Wellspring advisors first consider your risk tolerance, time horizon, preferences and objectives. This is known as the analysis phase. It is then followed by three other phases:

• Architecture: Your advisors will create an investment policy statement and propose strategic allocation guidelines.
• Implementation: At this stage, your portfolio is funded and set.
• Monitoring and reporting: Your advisors will periodically send you performance reports, outlooks and tax-related documents. You’ll verify that your investment policy is accurate and your portfolio is rebalanced as needed.

Wellspring generally invests client assets in mutual funds and exchange-traded funds (ETFs). 

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Vantage Financial Group works with both non-high-net-worth and high-net-worth individuals, as well as retirement plans, charities and businesses.

Vantage doesn't require a minimum account size. However, it can terminate an account that is "too small to effectively manage."

As a fee-based firm, some advisors can receive commissions from the sale of insurance products to clients. Desite this potential conflict of interest, the firm is a fiduciary and so must act in the best interests of clients at all times.

Vantage Financial Group Background

Founded in 1988, Vantage Financial Group is registered as an investment advisor with U.S. Securities and Exchange Commission (SEC). 

William M. McCormick, Michael T. Bearducci, Michael F. Cleary and George D. Smith are the principal owners of the firm.

The advisory team holds multiple certifications, including certified financial planner (CFP), accredited investment fiduciary (AIF) and certified employee benefits specialist (CEBS), among other designations.

Vantage provides portfolio management services, financial planning services, financial consulting services and retirement plan consulting services.

Vantage Financial Group Investment Strategy

When it comes to investment strategy, Vantage Financial Group aims to tailor its advice to the individual needs, objectives and situation of each client.

Important factors that can guide the portfolio creation and wealth planning process are total investment net worth, tolerance for risk and any other relevant information.

Advisors populate client portfolios by using mutual funds and exchange traded funds (ETFs), and provide advice on other securities, such as equities, variable annuities and bonds.

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Gries Financial is a fee-only firm managing assets for clients including both high-net-worth and non-high-net-worth individuals. The firm also advises institutions, including pension and profit-sharing plans, charitable organizations and businesses.

Gries has multiple advisors on staff. They hold certifications such as chartered financial analyst (CFA).

Fees for investment advisory services are based on a percentage of assets under management. Financial planning fees are charged on an hourly basis. Advisors do not earn commissions for selling securities or financial products to clients.

Generally, a minimum of $1 million in assets under management is required for investment management services, though this may be negotiable.

Gries Financial Background

Gries Financial began conducting business in 1978. The firm has one principal shareholder: The 4100 Group, Inc.

Services offered at the firm are as follows:

• Financial planning
• Tax analysis
• Investment analysis
• Insurance
• Retirement planning
• Estate planning

Gries Financial Investment Strategies

Gries focuses on long-term purchases for clients, which means holding securities for a year or more, especially when the firm believes that the security is undervalued.

The firm uses a number of types of analysis to come to its investment decisions, including fundamental analysis, technical analysis, quantitative analysis, qualitative analysis, asset allocation and mutual fund analysis. All of these are used together to come up with an appropriate investment strategy for each client.

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Beacon Financial Advisory is a fee-based firm. Most of its clients are non-high-net-worth individuals, though it also advises a number of high-net-worth individuals. Its institutional clients are charitable organizations and businesses. 

Beacon's staff includes certified financial planners (CFPs), certified public accountants (CPAs) and chartered financial consultants (ChFCs), among other certifications.

Fees for portfolio management are based on a percentage of assets under management. Fixed and hourly fees are charged for financial planning services.

As a fee-based firm, advisors may make commissions for selling financial products to clients. This is a potential conflict of interest, but fiduciary duty binds advisors to act in the best interest of the client.

Beacon does not have a minimum account size requirement. 

Beacon Financial Advisory Background

Beacon Financial Advisory was founded in 2014. The principal owner is Gregory Giller Randall, who is the founder, managing partner and lead financial advisor at the firm.

Beacon’s services include:

• Investment strategy
• Asset allocation
• Risk tolerance
• Personal investment policy
• Asset selection
• Regular portfolio monitoring
• Financial planning
• Retirement planning
• College planning

Beacon Financial Advisory Investment Strategy

Beacon Financial Advisory uses a number of strategies in clients portfolios, including long-term trading, short-term trading, short sales, margin transactions and options.

Modern portfolio theory is one of the analytical methods used by advisors at Beacon. This is a theory that attempts to maximize expected return given the amount of risk or minimize risks given an expected return. This is done by carefully choosing how much of each asset to purchase.

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Cleveland Wealth is a fee-based firm that works exclusively with individual clients, the vast majority of which do not have a high net worth. A small number of its individual clients are high-net-worth individuals.

The firm has a $500,000 minimum account size requirement, which may be waived in certain circumstances.

As a fee-based firm, some Cleveland Wealth advisors are registered insurance agents who can earn commissions from the sale of insurance products to clients. This is a potential conflict of interest. However, the firm is still bound as a fiduciary to act in the best interests of clients at all times.

Cleveland Wealth Background

Cleveland Wealth was founded in October of 2015. It registered with the U.S. Securities and Exchange Commission (SEC) as an investment advisor in 2016.

The firm is principally owned by Thomas Williams Stockett and Douglas William Sockman.

Cleveland Wealth provides clients with portfolio management services, financial planning services and financially educational seminars. The firm currently manages money entirely on a non-dsicretionary basis.

Cleveland Wealth Investment Strategy

Cleveland Wealth works with clients to help provide tailored investment management services. By developing an investment policy statement with each client, advisors learn about the client's tolerance for risk, financial goals, liquidity needs and any other information relevant to the investment management process.

Advisors at Cleveland Wealth rely on modern portfolio theory to help drive growth in client portfolios. They trade investments both on a long- and short-term basis.

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First Fiduciary Investment Counsel is a fee-only firm managing hundreds of millions in client assets for both non-high-net-worth and high-net-worth individuals, as well as retirement plans, charities and businesses. 

First Fiduciary's staff holds chartered financial analyst (CFA) designations.

The firm earns fees based on a percentage of assets under management. Some services may also be billed at a flat rate. Advisors do not earn commissions for selling securities or insurance products to clients.

First Fiduciary Investment Counsel Background

First Fiduciary Investment Counsel was founded in 1975. Firm president Mary F. Anderson owns 50% of the firm. William S. Henry, the firm's chief operating officer (COO), owns the other half.

Services the firm offers include:

• Investment supervisory services
• Tailored relationships
• Wealth management

First Fiduciary Investment Counsel Investment Strategy

First Fiduciary Invesment Counsel advisors believe in managing risk and using time as an ally for investors. 

The firm focuses on large capitalization equities that also pay dividends. The thought process is that when a company pays shareholders a dividend, it is more likely to be immune to market volatility.

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Also known as FSM Wealth Advisors, Journey Wealth Management is a fee-only firm that works with both non-high-net-worth and high-net-worth indviduals. 

The firm’s advisory team holds multiple certifications, including certified financial planner (CFP) and certified public accountant (CPA) designations. 

When it comes to advisory services, Journey charges asset-based fees and fixed fees. The firm doesn’t have a set account minimum, so clients won’t need a certain dollar amount to establish an advisory relationship. 

Journey Wealth Management Background

Founded in 2018 as an Ohio limited liability company, FSM Wealth Advisors does business as Journey Wealth Management.

David Lightner is the principal owner of Journey. The firm specializes mainly in investment management and financial planning services. 

The firm also offers tax management, bill pay, estate planning and business financial consulting, among other services.

Journey Wealth Management Investment Strategies

Journey uses strategic asset allocation when making investment decisions for clients. In working to meet a client’s objectives, the firm generally combines stocks, bonds, open end mutual funds, exchange-traded mutual funds, options and other investments. 

When it comes to securities analysis, Journey employs fundamental analysis, financial analysis, technical and charting analysis, cyclical analysis and macro-economic analysis. 

The firm’s investment strategies also include long- and short-term purchases, trading, short sales, margin transactions, option purchases and option writing.