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:
- Bonds and other fixed-income securities
- Exchange-traded funds (ETFs)
- Mutual funds
- 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**|
|$1MM||$9,500||$8,500 - $10,000|
|$5MM||$35,500||$25,000 - $32,500|
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.
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 firstname.lastname@example.org, 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
- 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.
- 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. This could include a number of considerations, such as your retirement plans, income needs or your children’s future education. The process for creating a portfolio that takes into account all these factors can be rather arduous, so perhaps you could use the help of a financial advisor? The SmartAsset financial advisor matching tool will pair you with as many as three advisors in your area that specialize in what you need.