Meeder Asset Management, Inc. (MAM) is a wholly owned subsidiary of Meeder Investment Management. The parent company also has two other subsidiary advisories: Meeder Advisory Services, Inc. (MAS) and Meeder Public Funds, Inc. (MPF). MAM is the arm of the firm that works with individual clients.
The MAM staff includes both broker-dealers and licensed insurance agents (some people may have more than one role). The firm is located in Dublin, Ohio, and has regional investment consultants across the country.
Meeder Asset Management Background
Robert Meeder, Sr. founded the firm in 1974, specializing in tactical investing, or what he called back then “Defensive Equity Strategy.” He still owns part of the company, along with his son Bob Meeder, who has been serving as president and CEO since 1995. Another Meeder - Susan - joined the company in 2009 and serves as chief administrative officer. Six other members of the executive team have small stakes.
Meeder Asset Management Client Types and Minimum Account Sizes
MAM, which advises Meeder Funds, works with individuals, families, businesses, institutions, registered investment companies, local government investment pools and qualified retirement plans who manage investments for their shareholders and participants.
The firm does not publish its minimums, but generally they depend on the investment program and platform. Terms and conditions are provided in the company’s agreements.
Services Offered by Meeder Asset Management
MAM offers discretionary investment management services through a wrap fee program (where management, custodian and brokerage costs are bundled into one fee), Meeder Investment Portfolios (which contain Meeder Funds), Meeder Select Portfolios (which contain non-Meeder mutual or exchange-traded funds) and platforms sponsored by other financial institutions and possibly using sub-advisors.
The firm also offers financial planning to individuals. Additionally, it provides retirement plan services to plan sponsors and their participants, advisory and administrative services to the Ohio local government investment pool and investment consulting services to corporations, charitable organizations, investment advisors, and state and municipal government entities.
Meeder Asset Management Investing Philosophy
As mentioned earlier, the firm practised tactical investing before it was called that. It is still foundational to the firm’s approach. In utilizing this strategy for separately managed accounts and the Meeder Funds, MAM says that it “invests more heavily in equities when our investment models indicate that the risk/reward relationship of the stock market is positive. When the relationship turns negative, we invest defensively in fixed income securities, fixed income funds or cash products until the market turns more favorable for investors.”
Fees Under Meeder Asset Management
Like most firms, MAM collects management fees based on a percentage of the client’s assets under management (AUM). They vary, depending on the program and platform - though there is no annual management fee for Meeder Investment Portfolios (which contain Meeder Funds). Meeder Select Portfolios (MSPs) follow this tiered schedule:
|AUM||Annual Fee for MSPs|
|Next $1.5 million||0.75%|
|Next $2.5 million||0.50%|
|Assets more than $5 million||0.40%|
In dollars, annual fees would look like this:
|*Estimated investment management fees do not include brokerage, custodial, third-party manager or other fees, which can vary in amount.|
|Estimated Investment Management Fees at Meeder Asset Management*|
|Your Assets||Annual Fee Amount|
Management fees for MSP accounts under $1 million are higher than the industry average of 0.95%, according to a 2018 study of 1,500 firms by RIA in a Box. Learn more about what advisors typical cost here.
Meeder Asset Management Awards and Recognition
In 2019, U.S. News ranked Meeder Muirfield Fund (FLMFX) as No. 1 in its tactical allocation category.
In 2017, Meeder Quantex Fund (FLCGX) won the Lipper Fund Award for the third time and was called a “Best Performer” among mid-cap funds by Money magazine.
What to Watch Out For
MAM had no legal or disciplinary action to disclose in its most recent filings Securities and Exchange Commission (SEC).
One thing worth noting: some of the firm’s advisors may also be registered representatives of broker-dealers and/or insurance agents. This means they may receive transaction-based fees and commissions from third parties, which presents a conflict of interest. That said, the SEC requires the firm to act as a fiduciary, which means they must put client interests before their own or their firm’s.
Opening an Account With Meeder Asset Management
To contact MAM, call (866) 633-3371 or send an email to email@example.com. Alternately, you can send a message via its site at http://www.meederinvestment.com/About/Advisor-Consulting.
All information is accurate as of the writing of this article.
Tips for Hiring a Financial Advisor
- Use SmartAsset’s five-minute matching tool to find a financial advisor near you. Simply answer questions about your financial situation and preferences, and the free tool will connect you with up to three suitable advisors in your area.
- Ask advisor candidates to explain in plain English what their conflicts of interest are. If they are fiduciaries, they are required to provide this, but often they do this in legalese language or bury it in their printed materials.