Finding a Top Financial Advisor Firm in Independence, Ohio
Finding a suitable financial advisor firm can be difficult. To help, we did some of the initial research and created a list of the top advisor firms in Independence, Ohio. We looked at each firm’s assets under management (AUM), advisory services, fee structure, investment strategies and more. SmartAsset’s free financial advisor matching tool can also help you find up to three advisors who serve your area to choose from.
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| Rank | Financial Advisor | Assets Managed | Minimum Assets | Financial Services | More Information |
|---|---|---|---|---|---|
| 1 |
Fairway Wealth Management, LLC
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$ 1,652,486,003 | $15,000 minimum annual fee |
|
Minimum Assets$15,000 minimum annual feeFinancial Services
|
| 2 |
Strategic Wealth Partners, Ltd.
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$ 795,833,306 | $250,000 |
|
Minimum Assets$250,000Financial Services
|
| 3 |
Enza Financial, LLC.
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$110,790,278 | No set account minimum |
|
Minimum AssetsNo set account minimumFinancial Services
|
What We Use in Our Methodology
To find the top financial advisors in Independence, 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:
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AUMFirms with more total assets under management are ranked higher. -
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Individual Client CountFirms who serve more individual clients (as opposed to institutional clients) are ranked higher. -
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Clients Per AdvisorFirms with a lower ratio of clients per financial advisor are ranked higher. -
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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.
Fairway Wealth Management
Fairway Wealth Management, the top-rated financial advisory firm in Independence, is a fee-only practice with billions in assets under management. The firm serves fewer than 300 clients, most of whom are high-net-worth individuals. The practice also works with non-high-net-worth individuals, corporations and other businesses.
The firm doesn’t specify a minimum account size requirement, but its ongoing wealth management services come with a minimum annual fee of $15,000. This means that if your balance is less than $2 million, you are paying a rate that's higher than 0.75%, the firm's stated rate for the first $5 million under management. For financial planning or advisory projects, the firm charges hourly fees or fixed fees.
The team of advisors at Fairway includes certified financial planners (CFPs) and certified public accountants (CPAs).
Fairway Wealth Management Background
Fairway was established in 2002 and is currently owned by Focus Financial Partners through several subsidiaries. Focus Financial Parters, which is publicly traded on the Nasdaq Global Select Market, owns dozens for registered independent advisor firms across the country.
When it comes to advisory services, the firm specializes in portfolio management, financial planning, family office services and selection of other advisors.
Fairway Wealth Management Investment Strategy
On its website, Fairway Wealth says that its investment philosophy is goal-based. The firm emphasizes maintaining an optimistic long-term view, disciplined process and managing variables that are within the firm’s control. The firm also believes that effective wealth management requires the integration of financial planning, investing and estate planning.
The firm typically uses assets it believes make for a diversified, long-term investment plan. Advisors also aim to use low-cost, tax efficient products while employing strategic asset allocation.
Strategic Wealth Partners
Strategic Wealth Partners is a fee-based firm that works with hundreds of individuals with and without a high net worth. Its institutional client base also includes retirement plans, charities and businesses. The firm requires all of its clients to have at least $250,000 to establish an advisory relationship, though this number is negotiable.
Among the team's industry credentials are the certified financial planner (CFP), chartered financial analyst (CFA), chartered market technician (CMT) and chartered retirement planning counselor (CRPC) designations.
At least one member of the Strategic Wealth team also sells insurance and may earn commissions on those transactions, which creates a potential conflict of interest and makes Strategic Wealth a fee-based firm. Despite this arrangement, the firm has a fiduciary duty to always act in the clients' best interests.
Strategic Wealth Partners Background
Owned by Mark Tepper, Strategic Wealth was founded in 2008. The firm mainly offers portfolio management, financial planning and pension consulting services. It also publishes periodicals or newsletters and provides educational seminars or workshops.
Strategic Wealth Partners Investment Strategy
Strategic Wealth has several different in-house investment strategies with different aims, including tactical, technical and dividend-focused approaches. The firm’s primary securities analysis methods are charting analysis, fundamental analysis and technical analysis.
As for asset allocations, Strategic Wealth’s Form ADV shows that most assets under its management are in exchange-traded securities and securities issued by registered investment companies or business development companies, like mutual funds.
Enza Financial
Enza Financial is a fee-based firm that works with individuals, including high net worth individuals. Its institutional client base also encompasses retirement plans, charities, and businesses. Enza Financial does not require a minimum investment to establish an advisory relationship, emphasizing accessibility.
At least one member of the Enza Financial team also deals with insurance and may earn commissions on those transactions, which could create a potential conflict of interest. However, this arrangement does not interfere with Enza Financial's fundamental commitment as a fee-based firm to uphold a fiduciary duty to always act in the clients' best interests.
Enza Financial primarily offers portfolio management, financial planning, and pension consulting services.
Enza Financial Investment Strategy
Enza Financial employs various in-house investment strategies, utilizing technical analysis, charting analysis, fundamental analysis, cyclical analysis, and Modern Portfolio Theory as its principal securities analysis methods. These methodologies ensure a broad, yet precise, approach to managing investments, aiming to optimize returns while controlling risk.
