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Spire Wealth Management Review

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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.

Spire Wealth Management provides support to a number of independent financial advisors and their firms. This firm is technically registered as an investment advisor, but it doesn't work directly with investor clients. Its headquaraters is located in Reston, Virginia, but it has partnered with advisors across the U.S. Spire has about $3.5 billion in assets under management (AUM) across its advisory network, and advisors work with a range of individual and institutional clients.

Spire is a fee-based firm, which means some of its advisors can receive commissions for insurance or securities sales. A fee-only firm, on the other hand, earns all of its compensation from client-paid fees.

Spire Wealth Management Background

Spire Wealth Management was founded in Virginia in 2001. The firm is owned by Spire Investment Partners, LLC along with CEO David L. Blisk. The firm provides business services to an independent network of advisory firms, but each firm retains its independence, so Spire doesn't actually own any of the firms in its network.

Advisors who work with Spire come from all over, so they may or may not hold financial certifications. Some of the most common ones are chartered financial analyst (CFA), certified financial planner (CFP) and chartered financial consultant (ChFC).

Spire Wealth Management Client Types and Minimum Account Sizes

Spire Wealth Management works directly with financial advisors, not investors. However, the firm's network of independent advisors works with multiple kinds of clients, most of which are individuals without a high net worth. Other clients include high-net-worth individuals and businesses.

Depending on which investment strategy a client uses through Spire, their minimum investment will be anywhere from $25,000 to $100,000. The firm also offers access to a Schwab investment program, which has a standard $5,000 minimum, or a $50,000 minimum if you enroll in the tax-loss harvesting feature.

Services Offered by Spire Wealth Management

As noted, Spire Wealth Management works with a network of independent advisory firms. The firm provides independent advisors with business support and model allocation portfolios that they can then use with their clients. Proprietary model portfolio strategies include:

  • Corbett Road Opportunity Strategy
  • Corbett Road Core Demand Strategy
  • Corbett Road Dynamic Strategy
  • Corbett Road EDGE Strategy
  • Corbett Road MyPath Strategies
  • Schwab Institutional Intelligent Portfolios
  • Manager of Managers Program

Through Spire, firms also provide clients with financial planning services that relate to issues such as retirement, taxes and estate planning. Assest are managed mainly on a discretionary basis.

Spire Wealth Management Investment Philosophy

Since Spire Wealth Management doesn't provide investment management strategies directly to clients, the firm doesn't have a specific, overarching investment philosophy. The model programs and portfolios that the firm offers for use have varying philosophies. They each all use different types of investments, so your advisor will pick the one best suited to your needs.

Advisors work with clients to determine their financial and investment objectives, using this information to properly develop an investment plan made up of a variety of models and programs, along with other potential strategies. While specific management styles vary based on the advisor and the program, the following investments are most commonly used:

  • Exchange-listed securities
  • Securities traded over-the-counter
  • Corporate debt securities (other than commercial paper)
  • Municipal securities
  • Mutual fund shares
  • United States governmental securities
  • Options contracts on securities

Fees Under Spire Wealth Management

At Spire Wealth Management, fees for investment management services are charged based on a percentage of a client's AUM. These fees vary significantly based on the advisor, program and the agreement between the advisor and the client. Fees tend to range from 0.25% to 2.50% annually.

Financial planning fees are typically charged on an hourly basis at a rate of between $100 and $500 per hour. These fees may be negotiated.

What to Watch Out For

Spire Wealth Management has four disclosures listed on its Form ADV. Of these, one is criminal in nature, while the other three are regulatory. All four of them relate to advisory affiliates of the firm.

Spire is a fee-based firm, as some of its advisors are registered as broker-dealer representatives or insurance agents who can receive commissions from the sale of financial products to clients. Although this is a potential conflict of interest, the firm is a fiduciary, which means it must legally act in the best interests of clients at all times.

Opening an Account With Spire Wealth Management

Remember that you can't work directly with Spire Wealth Management, as you'll need to work with an advisor in its network. You can find one of these advisors by submitting a contact form on Spire's website or calling (703) 657-6060.

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

Tips for Finding a Financial Advisor

How Long $1mm 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.

Rank City Housing Expenses Food Expenses Healthcare Expenses Utilities Expenses Transportation Expenses

Methodology We analyzed data on average expenditures for seniors, cost of living and investment returns to determine how many years of retirement a $1 million nest egg would cover in cities across America.

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%. 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