Stratos Wealth Partners is a financial advisor firm in Beachwood, Ohio that’s been doing business since 2008. The firm’s almost 275 advisors work to manage the assets of more than 21,000 clients, including individuals, businesses, charities and institutions. This client base combines to hold $5.44 billion in investable assets.
Stratos is a fee-based firm, meaning some of the firm’s advisors may earn compensation via insurance or securities commissions. This is in contrast with fee-only, which is a status that indicates 100% of a firm’s earnings come from fees that clients pay.
Stratos Wealth Partners Background
Stratos Wealth Partners has been providing investment advice since its founding in 2008. However, the firm wasn’t registered with the U.S. Securities and Exchange Commission until 2016.
Stratos is owned by a holding company called Stratos Wealth Holdings, LLC, which itself is owned by firm CEO Jeffrey Alan Concepcion. The firm’s headquarters are in Beachwood, Ohio, which is a suburb of Cleveland.
Stratos's 275 advisors include many who have earned advisory certifications, such as certified financial planner (CFP), chartered financial consultant (ChFC) and accredited investment fiduciary (AIF).
What Types of Clients Does Stratos Wealth Partners Accept?
Stratos Wealth Partners works with nearly 12,000 clients, almost half of whom are individuals beneath the high-net-worth threshold. The rest of the firm’s client base is made up of high-net-worth individuals, banking institutions, pensions and other retirement plans, charitable organizations, insurance companies and businesses.
Stratos Wealth Partners Minimum Account Sizes
Stratos Wealth Partners generally requires a minimum account size of $10,000 for its asset management services. For clients looking to take advantage of the firm’s financial planning and consulting services, there’s no minimum investment to worry about.
Services Offered by Stratos Wealth Partners
Stratos Wealth Partners offers a standard range of services, including:
- Financial planning
- Retirement planning
- General, segmented and comprehensive financial planning
- Educational planning
- Cash flow analysis
- Estate planning
- Budget planning
- Tax planning
- Insurance needs analysis
- Business continuity, succession and exit planning
- Asset allocation services
- Executive planning
- Corporate benefit consulting
- Hourly consulting
- Other planning and consulting services as requested by the client
- Financial Wellness Program
- Provides financial planning services to employers that will, in turn, offer these services to their employees as a fringe benefit
- Investment management
- Third-party advisor selection
- Portfolio management
- Mutual fund asset allocation programs
- Wrap fee programs
Stratos Wealth Partners Investment Philosophy
Stratos Wealth Partners typically recommends a range of different securities, including mutual funds, unit investment trusts (UITs), closed-end funds, exchange-traded funds (ETFs), exchange-traded notes (ETNs), variable annuity sub-accounts, equities, fixed-income securities, options, hedge funds, managed futures and structured products.
Advisors will choose from these investment options to build an investing plan that fit your needs. This process involves taking into account your risk tolerance, time horizon, income needs, investment objectives and financial preferences. Once this is complete, the firm will invest your assets according to a diversified asset allocation. As your portfolio ages, Stratos will keep an eye on it to ensure the original asset allocation remains in place and rebalance as needed.
Fees Under Stratos Wealth Partners
As most of Stratos Wealth Partners’ investment management services are offered through third-party advisors, fees can vary wildly. Therefore, clients will have their fee schedule individually set by their third-party advisor on a negotiable basis. These fees are normally charged as a percentage of clients’ assets under management (AUM).
Financial planning and consulting fees at Stratos are negotiable and can come in the form of either a flat or an hourly fee. Flat fees will top out at $25,000, and hourly fees won’t usually exceed $500.
What to Watch Out For
As a fee-based firm, certain advisors at Stratos Wealth Partners can earn commissions from the sale of specific insurance products or securities. Despite this fee arrangement, Stratos abides by fiduciary duty, legally binding it to act in clients’ best interests at all times.
Opening an Account With Stratos Wealth Partners
You can call (866) 553-9882 to get in touch with Stratos Wealth Partners. Prospective clients can also visit the firm’s website and fill out its contact form to have an advisor reach out to them.
Where Is Stratos Wealth Partners Located?
Stratos Wealth Partners has its headquarters in Beachwood, Ohio, which is about a 25-minute drive from Cleveland. This is the firm’s only office.
Tips for Retirement Planning
- It can be a daunting task to build your own investing plan, which is why many people choose to get help from a financial advisor. 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.
- Don’t forget to take Social Security payments into account when you formulate what kind of income you’ll need in retirement. If you don’t know what you’re in line to receive, check out SmartAsset’s Social Security calculator.