Cirrus Wealth is based in Cleveland, Ohio. 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 to millions in assets under management (AUM). Clients also likely followed Heider, along with four other employees, from Rehmann and Dawson Wealth Management, which Heider had also co-founded.
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.
Cirrus Wealth Management Client Types and Minimum Account Sizes
The firm works with individuals who are and aren’t high net worth, pension and profit-sharing plans, charitable organizations and corporations.
Cirrus Wealth generally has no set minimums, though it may close accounts whose balances are too low to be cost-effective at the sole discretion of the firm.
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 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% |
| Over $10 million | 0.24% |
Check out the table below to see estimated fees for Cirrus Wealth management services:
| *Estimated investment management fees do not include brokerage, custodial, third-party manager or other fees, which can vary in amount. | |
| Estimated Investment Management Fees at Cirrus Wealth* | |
| Your Assets | Capital Asset Management Fees |
| $1MM | $10,000 |
| $3MM | $22,500 |
| $5MM | $27,500 |
| $10MM | $40,000 |
| $15MM | $36,000 |
Learn more about advisors' typical costs here.
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.
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, and send a message on its website contact page.
All information was accurate as of the writing of this article.
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