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The Top Financial Advisors in Independence, OH

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This review was produced by SmartAsset based on publicly available information. The named firm and its financial professionals have not reviewed, approved, or endorsed this review and are not responsible for its accuracy. Review content is produced by SmartAsset independently of any business relationships that might exist between SmartAsset and the named firm and its financial professionals, and firms and financial professionals having business relationships with SmartAsset receive no special treatment or consideration in SmartAsset’s reviews. This page contains links to SmartAsset’s financial advisor matching tool, which may or may not match you with the firm mentioned in this review or its financial professionals.

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 Fairway Wealth Management, LLC logo Find an Advisor

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$2,023,380,221 $15,000 minimum annual fee
  • Portfolio management
  • Financial planning
  • Selection of other advisors
  • Cash and credit management

Minimum Assets

$15,000 minimum annual fee

Financial Services

  • Portfolio management
  • Financial planning
  • Selection of other advisors
  • Cash and credit management
2 Strategic Wealth Partners, Ltd. Strategic Wealth Partners, Ltd. logo Find an Advisor

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$721,101,186 $250,000
  • Portfolio management
  • Financial planning
  • Pension consulting
  • Publication of periodicals
  • Educational seminars

Minimum Assets

$250,000

Financial Services

  • Portfolio management
  • Financial planning
  • Pension consulting
  • Publication of periodicals
  • Educational seminars
 

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:

  • AUM
    Firms with more total assets under management are ranked higher.
  • Individual Client Count
    Firms who serve more individual clients (as opposed to institutional clients) are ranked higher.
  • Clients Per Advisor
    Firms with a lower ratio of clients per financial advisor are ranked higher.
  • Age of Firm
    Firms that have been in business longer are ranked higher.
  • Fee Structure
    Firms with a fee-only (as opposed to fee-based) compensation structure are ranked higher.

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

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. 

How Long $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 We weighed potential expenditures for a prospective retiree with a  $1 million nest egg to assess how many years that fund would cover in retirement in America’s largest cities.

We 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 metro areas across the U.S.

We assumed the $1 million would grow at a net annual return of 2% after inflation. 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.