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Marrs Wealth Management Review

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Marrs Wealth Management

Marrs Wealth Management, LLC (MWM) is a fee-only financial advisor in Ames, Iowa. It’s a relatively small advisory operation, as MWM manages under $190 million and has just three advisors on its team. From 2016 to 2018, AdvisoryHQ named Marrs one of the top financial advisors in the state of Iowa.

Marrs Wealth Management Background

Founded in 2010, Marrs Wealth Management is under the ownership of principals Craig Marrs, Nathan Brammer and Andra Reason. This group averages 27 years of experience in the financial advisory and tax planning businesses.

The small, three-person advisory staff at MWM features plenty of certifications, including two certified financial planners (CFPs), two certified investment management analysts (CIMAs), two accredited investment fiduciaries (AIFs), one certified public accountant (CPA) and one certified specialist in estate planning (CSEP).

What Types of Clients Does Marrs Wealth Management Accept?

Marrs Wealth Management deals with many different client archetypes, such as individuals, families, high-net-worth individuals, high-net-worth families, charitable organizations, endowments, corporate retirement plans and businesses.

Marrs Wealth Management Minimum Account Size

To open an advisory relationship with Marrs Wealth Management, a $500,000 investment is needed.

Services Offered by Marrs Wealth Management

In an effort to meet the distinct needs of each of its clients, Marrs Wealth Management has built a bevy of advisory services throughout the investment management, financial planning and consulting categories. Check out more below:

  • Investment supervisory services
    • Personal investment policy
    • Asset allocation and selection
    • Regular portfolio monitoring
    • Customized investment strategies
    • Semi-annual meetings with your advisor
  • Financial planning
    • Investment management
    • Retirement planning
    • Estate planning
    • Tax planning
    • Asset allocation planning
    • Social Security planning
    • Insurance analysis and planning
    • Cash flow and debt reduction analysis
  • Investment consulting/advice for:
    • Stocks
    • Bonds and other fixed-income securities
    • Exchange-traded funds (ETFs)
    • Mutual funds
    • Cash
    • Real estate investment trusts (REITs)
    • Government securities

Marrs Wealth Management Investment Philosophy

Modern portfolio theory (MPT) is the central strategy behind Marrs Wealth Management’s investment philosophy. At its core, MPT looks to diversify clients’ assets across multiple markets and investment types to mitigate risk. MPT also dictates that the only way the risk profile of your portfolio will be increased is if the potential for returns is proportionately boosted.

In an effort to satisfy the requirements of MPT, Marrs Wealth Management typically uses mutual funds and ETFs, as they include inherent diversification and investments in specific markets. Some examples of fund markets the firm might concentrate on include U.S. stocks, foreign stocks, domestic and foreign investment grade fixed-income securities, money market funds, real estate investment trusts (REITs) and government securities.

Fees Under Marrs Wealth Management

Marrs Wealth Management utilizes a simple, annualized fee schedule that’s divided into two parts: one for individuals and the other for endowments/not-for-profits. These fees are tiered, meaning each level of your assets under management (AUM) will be cumulatively charged a different rate. You must pay these fees on a quarterly basis, in arrears.

Tiered Investment Supervisory Fees for Full-Service Individual Clients
Total Assets Under Management Standard Annual Fee
Up to $500K 1.10%
$500K - $1MM 0.80%
$1MM - $3MM 0.70%
$3MM - $5MM 0.60%
$5MM - $10MM 0.40%
$10MM - $15MM 0.35%
$15MM - $20MM 0.30%
$20MM and above 0.25%

Endowment and not-for-profit accounts abide by the following fee schedule:

Tiered Investment Supervisory Fees for Endowment/Not-for-Profit Accounts
Total Assets Under Management Standard Annual Fee
Up to $200K 1.00%
$200K - $500K 0.60%
$500K - $1MM 0.55%
$1MM - $3MM 0.50%
$3MM - $5MM 0.45%
$5MM - $10MM 0.35%
$10MM - $15MM 0.30%
$15MM - $20MM 0.25%
$20MM and above 0.20%

Check out the table below to see how Marrs’ fees for its management services compare to those at similar financial advisor firms. Note that these fees are only estimates and actual costs may vary.

*Fee estimates only consider the maximum base fees for the services each firm provides. You may also pay manager fees and other fees, which can vary in amount. **All figures are based on median fee levels according to Bob Veres' 2017 Planning Profession Fee Survey. The above estimates solely take into account AUM-only fees. Total costs will likely be higher due to additional expenses.
Estimated Fee Comparison*
Your Assets Marrs Wealth Management Investment Supervisory Fees for Full-Service Individual Clients National Median Advisory Fees**
$500K $5,500 $5,000
$1MM $9,500 $8,500 - $10,000
$5MM $35,500 $25,000 - $32,500
$10MM $55,500 $50,000

What to Watch Out For

Marrs Wealth Management uses TD Ameritrade and Charles Schwab for its custodial services. While neither the firm nor its custodians pay to remain in this relationship, MWM does receive some economic benefits in the form of research tools, trading desk access, proprietary technology and software, consulting services and more.

This exchange presents the potential for a conflict of interest, as the receipt of these perks could influence the firm’s choice of custodian regardless of whether it helps or harms its clients. In direct opposition to this, though, is the fact that the firm abides by fiduciary duty. That means MWM must act in its clients’ best interests at all times.

Disclosures

There are no disclosures on Marrs Wealth Management’s legal and regulatory record.

Opening an Account With Marrs Wealth Management

Phone calls and emails are the easiest ways to become a client of Marrs Wealth Management. The firm’s phone number and email address are (515) 233-0307 and info@marrswealthmanagement.com, respectively.

Where Is Marrs Wealth Management Located?

Marrs Wealth Management’s only office location is in Ames, Iowa, at 313 Fifth Street, Suite 101.

How to Build an Investment Portfolio

  • Although the premier concern of any investment is to garner returns, a portfolio is only fully doing its job if it meshes well with your financial needs. A financial advisor can help with this. Finding the right financial advisor that fits your needs doesn’t have to be hard. SmartAsset’s free tool matches you with financial advisors in your area in 5 minutes. If you’re ready to be matched with local advisors that will help you achieve your financial goals, get started now.
  • Portfolios with strong diversification among their asset allocations often perform the best, as spreading funds among an array of markets and types of securities can mitigate risk and maximize returns. To do this, you’ll need a deep understanding of the different investments available to you. Take a look over SmartAsset’s guide of 10 investment types for a good jumping-off point.

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