Top Financial Advisors in Cleveland, OH

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MAI Capital Management, LLC is a fee-based firm that works with individuals, families, family offices, sports professionals, trusts and institutional clients. The firm suggests a $500,000 minimum to establish an investment management account. For full-service wealth management, it suggests a net worth of at least $1 million and current income of at least $150,000.

The firm offers services such as discretionary and non-discretionary investment management, wealth management, estate and financial planning, tax strategy advice, tax preparation, family office services, retirement plan consulting and trust administrative services. MAI also provides insurance administration, private fund advisory services, sub-advisory services, wrap fee program management and household administrative services. Fees are generally based on a percentage of assets under management, and the firm may also charge annual retainers for wealth management or financial planning services.

As a fee-based firm, MAI’s wholly owned insurance subsidiary may receive commissions from the sale of insurance products. The firm may also receive performance-based compensation from certain private funds. This is a potential conflict of interest, but the firm is bound by fiduciary duty to act in the best interests of clients at all times.

When it comes to investment strategy, MAI may use individual equity strategies, fixed-income portfolios, exchange-traded fund (ETF) strategies, private funds and alternatives, options strategies and limited use of margin or securities-based lending. Its fixed-income strategies generally focus on investment-grade taxable or tax-exempt bonds with laddered maturities. Alternative strategies may include private equity, real estate, lending, venture, infrastructure and related private fund investments.

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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. The firm has no set account minimum.

Clearstead is far and away the largest firm on this list in terms of assets under management (AUM), totaling more than $24 billion. The firm is also the largest on the list in terms of the number of advisors.

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.

Ancora Private Wealth Advisors, LLC is a fee-based firm that works with individual investors, high-net-worth individuals and families, retirement plans, foundations, endowments, businesses and institutions. The firm generally requires a $750,000 minimum account size, though related accounts may be combined to meet that amount. This minimum may be waived or reduced at the firm’s discretion.

The firm offers services such as customized portfolio management, lifetime planning and wealth advisory services, corporate retirement planning, pension consulting, asset allocation consulting and held-away account management. Ancora also provides third-party manager searches, proxy voting, credit and cash management solutions and insurance solutions.

As a fee-based firm, some Ancora advisors may earn commissions or other compensation in addition to advisory fees. This is a potential conflict of interest. However, the firm is bound by fiduciary duty to act in the best interests of clients at all times.

When it comes to investment strategy, Ancora uses a range of approaches based on each client’s objectives and risk profile. The firm may use custom portfolios, ETF and mutual fund model portfolios, managed allocation strategies, fixed-income portfolios, equity analysis, alternative investments and sub-advised strategies. Portfolios may include equities, mutual funds, ETFs, fixed income, real assets, private equity, real estate, energy investments and other alternative investments.

Highland Consulting Associates is a fee-only firm that works with foundations, endowments, charitable organizations, insurance companies, businesses, retirement plan sponsors, healthcare organizations and educational institutions. The firm also serves high-net-worth individuals, individuals and families. Highland generally requires a minimum level of assets under management, though it does not list a specific dollar amount.

Highland provides investment advisory services, retirement plan consulting, family wealth services, endowment and foundation advisory services and consulting for healthcare and education clients. The firm earns revenue from fees paid directly by clients. Its retirement plan consulting services can include investment policy preparation, investment selection, investment monitoring and employee communications.

When it comes to investment strategy, Highland uses asset allocation, investment manager analysis, long-term trading and third-party manager selection. The firm uses proprietary asset allocation tools and forward-looking return, risk and correlation estimates to help determine allocations across equities, fixed income, cash, alternatives and other investments. It also evaluates outside managers using quantitative and qualitative factors, including portfolio data, performance attribution, investment philosophy and team structure.

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CBIZ Investment Advisory Services is a fee-based firm that works with private wealth clients. These include individuals, trusts and estates. The services offered to these wealth clients includes risk-based, diversified investment alternatives and general wealth management for these groups. 

The fees for working with the firm typically range between 0.10% - 2.0% of annually in relation to assets under management (AUM) with the firm. Wrap fee programs will vary. 

The firm will work with each client to determine the individual needs in order to build the right investment strategy. The firm conducts ongoing due diligence and monitoring on all investments to determine if they continue to match the portfolio. 

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

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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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 does not have a minimum account size requirement. 

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

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

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

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 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.

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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. 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. Services offered at the firm include financial planning, tax analysis, investment analysis, insurance, retirement planning and estate planning. 

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.