Finding a Top Financial Advisor Firm in Beachwood, Ohio
The Beachwood area offers a range of options for financial advisory firms, but it’s important that you choose the firm that’s most suitable to your financial situation. We’ve formed a list to help you narrow down your search. Our list compares each firm’s assets under management (AUM), fee structure, advisory services and investment strategies.
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|Rank||Financial Advisor||Assets Managed||Minimum Assets||Financial Services||More Information|
|1||CM Wealth Advisors, LLC Find an Advisor||$2,984,526,622||Varies based on account type|| || |
Minimum AssetsVaries based on account type
|2||Adaptive Financial Consulting, LLC Find an Advisor||$336,898,466||No set account minimum|| || |
Minimum AssetsNo set account minimum
|3||Shaker Investments Find an Advisor||$194,159,223||$50,000|| || |
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|4||North Star Advisory Group, LLC Find an Advisor||$151,674,712||No set account minimum|| || |
Minimum AssetsNo set account minimum
|5||Walden Wealth Partners LLC Find an Advisor||$247,155,123||$23,000 minimum annual fee|| || |
Minimum Assets$23,000 minimum annual fee
What We Use in Our Methodology
To find the top financial advisors in Beachwood, we first identified all firms registered with the SEC in the city. Next, we filtered out firms that don't offer financial planning services, those that don't serve primarily individual clients and those that have disclosures on their record. The qualifying firms were then ranked according to the following criteria:
- AUMFirms with more total assets under management are ranked higher.
- Individual Client CountFirms who serve more individual clients (as opposed to institutional clients) are ranked higher.
- Clients Per AdvisorFirms with a lower ratio of clients per financial advisor are ranked higher.
- Age of FirmFirms that have been in business longer are ranked higher.
All information is obtained through public records and is updated annually after the firms’ form ADV filing. This list may include firms that have a business relationship with SmartAsset, in which SmartAsset is compensated for lead referrals. Such relationships have no impact on our rankings, and firms are included and ranked based strictly on the above criteria. SmartAsset is not a client of the aforementioned firms, and did not receive compensation for including any of the firms on the aforementioned list.
CM Wealth Advisors
With billions of dollars in assets under management, CM Wealth Advisors is Beachwood's top-rated financial advisor. As a fee-only firm, all of its compensation comes from client-paid fees and not third-party commissions.
CM Wealth Advisors' minimum investment varies based on the type of account you open. For example, if you only need investment advisory services, there is a $5 million minimum. On the other hand, the firm's more comprehensive wealth management program called "WMAS" requires a $10 million minimum. Each of these requirements may be negotiable or waivable, though.
CM Wealth Advisors' client base mostly consists of high-net-worth individuals and investment funds. However, the firm also works with non-high-net-worth individuals, pooled investment vehicles and charitable organizations. The firm’s professionals hold a range of certifications, including the certified financial planner (CFP), certified public accountant (CPA), personal financial specialist (PFS) and certified exit planning advisor (CEPA) designations.
CM Wealth Advisors Background
CM Wealth Advisors was originally established in 1983 as a single family office called Clanco. However, the firm became a multi-client family office in 2000 and eventually changed its name in 2010. Today, the firm is owned by CMWA, LLC, a holding company that in turn is owned by employees of CM Wealth Advisors.
The firm offers portfolio management, financial planning and advisor referral services. It has four key programs through which it provides these services. The firm offers a wealth management advisory services program (WMAS), wealth management and investment advisory services program (WMIAS), investment management and supervisory services program and a business consulting program.
CM Wealth Advisors Investment Strategy
CM Wealth Advisors believes that different asset classes have different return expectations and varying risk profiles. The firm also describes on its firm brochure that it values portfolio diversification, and CM Wealth Advisors says it believes that smaller-capitalization stocks generate the highest return rates over the long-term.
The firm says it utilizes a core growth equity model that allows it to grow wealth over complete market cycles. CM Wealth Advisors additionally uses asset allocation, manager selection and investment strategy diversification to manage portfolio risks.
Adaptive Financial Consulting
Adaptive Financial Consulting, the next firm on our list, works with both non-high-net-worth and high-net-worth individuals, as well as pension and profit-sharing plans. The firm is fee-based, which means some advisors can earn commissions from the sale of insurance products. Despite the potential conflict of interest this creates, the firm is bound by fiduciary duty to act in clients' best interests.
The staff at Adaptive Financial includes two certified financial planners (CFPs), one chartered financial analyst (CFA), one chartered retirement plan specialist (CRPS), one chartered financial consultant (ChFC) and one chartered life underwriter (CLU). The firm doesn’t have a set account minimum.
Adaptive Financial Consulting Background
Adaptive Financial Consulting began its operations in 2013 under the ownership of founder and current CEO Jeremy Bigelow Thompson. Thompson boasts a 20-plus-year career in the financial services industry. The firm's leadership team is rounded out by chief investment officer (CIO) Jonathan Grundman, director of financial planning Rachelle Kovacs and director of retirement plan services Tobias Yearms.
The firm’s investment management services feature asset allocation, investment strategy, risk tolerance identification and regular portfolio monitoring. Clients also have access to the following areas of financial planning:
- Tax planning
- Wealth transfer planning
- Estate planning
- Charitable planning
- Insurance analysis
- Debt management
- Budgeting and cash flow planning
Adaptive Financial Consulting Investment Strategy
Adaptive Financial says on its website that it employs its model portfolios to help clients protect their long-term asset allocations from market panics. The firm also prioritizes costs and looks to keep portfolio costs low.
Adaptive Financial advisors offer investment advice on fixed-income securities, mutual funds, hedge funds, annuities, equities, private equity funds, exchange-traded funds (ETFs), bonds, non-U.S. securities and private placements.
Shaker Investments, a fee-based practice, is a largely individual-centric firm. In fact, the firm deals with both high-net-worth and non-high-net-worth individuals, as well as a handful of retirement plans, pooled investment vehicles, charitable organizations and businesses. The firm's investment minimum is $50,000.
If you qualify for and invest in the Tower Fund, a long-short hedge fund, the firm will receive related compensation. Despite the potential conflict of interest that this creates, the firm is bound by fiduciary duty to act in clients' best interests at all times.
The firm's advisory staff includes one chartered financial analyst (CFA) and one certified financial planner (CFP).
Shaker Investments Background
Shaker Investments has been in business since 1991 when it was founded by Edward Hemmelgarn. Hemmelgarn still works at the firm, serving as its president and co-chief investment officer (CIO). Hemmelgarn is also the firm's sole principal owner. Janice Hammond, secretary of Shaker Investments, is a minority owner.
The firm's main service is individual portfolio management, which it tends to administer through model portfolio strategies. Shaker may also offer financial planning services on an as-needed basis.
Shaker Investments Investment Strategy
According to its Form ADV, "Shaker Investments is a research-driven firm." As a result, the firm conducts its own fundamental analysis that seeks out various market sectors and associated companies that appear to be strong investment opportunities. The firm employs several investment approaches, including a small-cap growth strategy, a fundamental growth strategy and an alternative strategy.
There are 11 specific factors that Shaker rates companies on to determine whether they're a worthy investment. These include: growth, sustainable competitive advantage, strong management, dominant market leadership, single mission, diverse customer base and products, quality leadership, new products development, positive earnings/cash flow, conservative financials and significant insider ownership. Using these criteria, the firm attempts to identify between 150 and 200 highly-rated companies.
North Star Advisory Group
North Star Advisory Group does not have a specific account minimum for new clients. This is reflected in its client base, as the firm works mostly with non-high-net-worth individuals. Its other clients include high-net-worth individuals, retirement plans, charitable organizations and businesses.
The small advisory staff at North Star holds a handful of certifications. These include certified financial planner (CFP) and financial paraplanner qualified professional (FPQP).
Some advisors here can sell insurance products on a commission basis. While this presents a potential conflict of interest, the firm’s fiduciary duty requires it to act in clients’ best interests at all times.
North Star Advisory Group Background
North Star Advisory Group has been in business since 2014. The firm’s principal owner is Mark Kangas, its CEO and founder. Kangas has around two decades of experience in financial services.
Investment management and financial planning are mainstays in North Star’s pool of services. Financial planning can cover many different areas of clients’ financial lives, including retirement, estate planning, tax planning and more. The firm also offers consulting services related to antiques and collectibles, a unique service offering that most financial advisory firms don't provide.
North Star Advisory Group Investment Strategy
North Star Advisory Group tailors its investment plans and selections to each client’s personal financial situation. For instance, the firm will go over your risk tolerance, time horizon, liquidity and income needs and overall financial goals.
As your financial situation evolves over time, the firm and your advisor will work to adjust your investments to those changes. This involves rebalances and beyond. Lastly, tax efficiency is not a primary consideration of the firm's investment strategy. As a result, the firm suggests working with a tax professional regarding your portfolio's tax implications.
Walden Wealth Partners
Walden Wealth Partners concludes our list of the top financial advisors in Beachwood, Ohio. This fee-only firm doesn't have an account minimum, but it does charge a minimum annual fee of $23,000. As a result, the practice primarily works with high-net-worth individuals, although it has several clients who fall below the high-net-worth threshold.
The team at this women-owned firm includes advisors with several financial credentials, including the certified financial planner (CFP), accredited investment fiduciary (AIF), chartered financial analyst (CFA) and certified investment management analyst (CIMA) designations.
As a fee-only practice, Walden's compensation comes solely from the fees that advisory clients pay. The firm doesn't collect third-party sales commissions for selling insurance or securities. This eliminates the potential conflict of interest that commission-based compensation can create.
Walden Wealth Partners Background
Walden Wealth Partners opened for business in 2015 under the ownership of its founders, Karin Maloney Stifler and Sarah Hannibal. Stifler and Hannibal remain partners and owners of the business.
The firm's services center around wealth management, financial planning and fiduciary consulting for retirement plans, trustees, charities and for-profit business entities. Specifically, the firm can help you navigate retirement planning, inheritance and windfalls, taxes, income and expenses, among many other areas of your financial life.
Walden Wealth Partners Investment Strategy
Walden Wealth Partners employs a long-term investment strategy based on the principles of modern portfolio theory. The firm's approach is "firmly rooted" in the belief that markets are efficient – that prices accurately reflect all current information that's available, making it impossible to "beat the market."
As a result, Walden doesn't look to time the markets or pick stocks. Instead, the firm recommends diversified portfolios that rely on passively managed asset class mutual funds. The firm may also incorporate exchange-traded funds and custom portfolios of conservative fixed-income securities, as well.