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Cirrus Wealth Management Review

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Cirrus Wealth Management

Cirrus Wealth Management

If you’ve heard of Cirrus Wealth Management and don’t live in Ohio, it’s likely because you’ve seen its founder, Joe Heider, on TV. He regularly appears on FOX Business News and CNBC, commenting on the markets.  

His national profile has probably helped his firm, launched only in 2016, grow in assets under management (AUM) to more than $186.7 million. Clients also likely followed Heider, along with four other employees, from Rehmann and Dawson Wealth Management, which Heider had also co-founded.

Cirrus Wealth is based in Cleveland and has offices in Akron and North Canton, Ohio.

Cirrus Wealth Management Background

As just noted, Cirrus Wealth was founded by Joe Heider, who also co-founded Dawson Wealth Management (which merged with Rehmann in 2010). He is the principal owner of the firm. Three other staffers have small stakes, including Heider’s son, Ryan.

What Types of Clients Does Cirrus Wealth Management Accept?

The firm works with individuals who are and aren’t high net worth, pension and profit-sharing plans, charitable organizations and corporations.

Cirrus Wealth Management Minimum Account Sizes

Cirrus Wealth generally has no set minimums, though it may close accounts whose balances are too low to be cost effective. 

Services Offered by Cirrus Wealth Management

The firm provides portfolio management services on a discretionary and non-discretionary basis. It also offers stand-alone financial planning and pension consulting services.

Cirrus Wealth Management Investing Philosophy

Cirrus does not apply quantitative or qualitative analysis of individual securities. Instead, it says it primarily “will advise you on how to allocate your assets among various classes of securities or third-party money managers.” It generally uses investment model portfolios and strategies developed by the third parties, and invests in equities, debt securities (including laddered bonds), mutual funds, exchange traded funds (ETFs) and publicly traded real estate investment trusts (REITs). 

Fees Under Cirrus Wealth Management

Like most, if not all, firms, Cirrus Wealth bases management fees on a percentage of the client’s AUM. Unlike many firms, it also charges an annual administration fee of 0.25%, not to exceed $750 per year. Its management fees follow this tiered schedule:

AUM Annual Fee
First $1 million 1.0%
Next $2 million 0.75%  
Next $2 million 0.55%  
Next $5 million 0.40%
Assets more than $10 million 0.24%

 

What to Watch Out For

Most advisors are also insurance agents and broker representatives. So though they charge fees for their advisory services, they do receive commissions from third parties in their other roles, which poses a conflict of interest. 

Disclosures

In its most recent SEC filings, Cirrus Wealth had no disclosures to report.

Opening an Account With Cirrus Wealth Management

To contact Cirrus Wealth, call (216) 503-9310, send an email to CirrusWealth@cirruswealth.com or send a message on its site at https://cirruswealth.com/contact-us/.

Where Is Cirrus Wealth Management Located?

The firm’s main office is located at 6060 Rockside Woods Boulevard, Cleveland, Ohio 44131.

All information was accurate as of the writing of this article. 

Tips for Finding a Financial Advisor 

  • Interview advisor candidates in person - or at least over the phone. It’s the best way to get a sense of how comfortable he or she makes you feel. After all, few things are more personal than your finances, and you don’t want to feel self-conscious talking about your goals and dreams to the person who is supposed to help you realize them.
  • Use SmartAsset’s financial advisor matching tool. Simply answer questions about your financial situation and preferences, and the program will match you with up to three suitable advisors in your area.

How Many Years $1 Million Lasts in Retirement

SmartAsset's interactive map highlights places where $1 million will last the longest in retirement. Zoom between states and the national map to see the top spots in each region. Also, scroll over any city to learn about the cost of living in retirement for that location.

Least
Most
Rank City Housing Expenses Food Expenses Healthcare Expenses Utilities Expenses Transportation Expenses

Methodology To determine how long a $1 million nest egg would cover retirement costs in cities across America, we analyzed data on average expenditures for seniors, cost of living and investment returns.

First, we looked at data from the Bureau of Labor Statistics (BLS) on the average annual expenditures of seniors. We then applied cost of living data from the Council for Community and Economic Research to adjust those national average spending levels based on the costs of each expense category (housing, food, healthcare, utilities, transportation and other) in each city. Using this data, SmartAsset calculated the average cost of living for retirees in the largest U.S. cities.

We assumed the $1 million would grow at a real return (interest minus inflation) of 2%. This reflects the typical return on a conservative investment portfolio. Then, we divided $1 million by the sum of each of those annual numbers to determine how long $1 million would cover retirement expenses in each of the cities in our study. Cities where $1 million lasted the longest ranked the highest in the study.

Sources: Bureau of Labor Statistics (BLS), Council for Community and Economic Research