Retirement Planning » Financial Advisors » Cleveland, OH

Financial Advisors Cleveland, OH

Latest update: November 14, 2019

Population383,000
State Income Tax2.85%
Median Home Price$66,300
City Sales Tax8.00%

Cleveland is one of the largest economic centers in Ohio is the 33rd largest metropolitan area in the U.S.

Find a financial advisor in Cleveland, OH

Cleveland residents have 1,650 financial advisors to choose from in the area. We found some of the best financial advisors in Cleveland to narrow down the choices. Our selections are based on consumer reviews, professional certifications, asset requirements and Securities and Exchange Commission filings.

Winfield Associates, Inc

  • Assets Managed: $212.5 million
  • Minimum Assets: $500,000

Winfield Associates is independently owned and offers investment management and private wealth advisory services. The Cleveland, Ohio firm works with no broker/dealers, so financial advisors can recommend products objectively. Winfield Associates works with individual investors, business professionals, retirees and business owners.

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Fairpoint Wealth Management

  • Assets Managed: $1.9 million
  • Minimum Assets: N/A

Fairpoint Wealth Management financial advisors provide personalized financial planning at every career stage. Clients get access to a 24/7 online portal where they can see how various changes to their financial plan would impact goals. Fairpoint Wealth Management also offers investment advice that syncs with a long-term financial plan.

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Szarka Financial

  • Assets Managed: $44.3 Billion
  • Minimum Assets: $25,000

Szarka Financial financial advisors offer several services to retirees and those nearing retirement. Clients can take advantage of retirement income planning, investment management, long-term care, estate and retirement asset planning. The firm also provides executive financial coaching and business succession planning.

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MAI Capital Management, LLC

  • Assets Managed: $4.46 Billion
  • Minimum Assets: Varies

MAI Capital Management provides full-service wealth management and investment advising to high net worth individuals, business owners, professional athletes and ultra-high net worth families. MAI’s culture is unchanged from when the firm opened in 1973, with a focus on solutions through collaboration and innovation.

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Sequoia Financial Group

  • Assets Managed: $3.9 Billion
  • Minimum Assets: N/A

Financial advisors at Sequoia Financial Group offer retirement and financial planning, investment management and family wealth services. The firm assists all individuals whether they are just getting started with a career, retiring or having another life transition. The team at Sequoia Financial Group uses a personal touch supplemented by the latest technology.

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NCA Financial Planners

  • Assets Managed: $1.1 Billion
  • Minimum Assets: Varies

NCA Financial Planners is an independent, full-service Cleveland, Ohio financial advisory firm. Financial advisors work with clients to provide investment advice, wealth management, retirement and estate planning and tax planning services. NCA has been in business for over 30 years and works with a broad range of professionals and retirees.

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Winfield Associates, Inc

Winfield Associates is ideal for those who want to focus on investment planning with some financial planning. Financial advisors assist retirees with investments they may draw income from and managing IRAs, trusts and other accounts. Business professionals receive guidance for customizing portfolios, and managing stock options, 401(k) and IRAs. Winfield Associates works with individual private investors to manage settlements, inheritances and accumulated wealth.

Investment management services involve a Winfield investment advisor customizing the investment portfolio to fit the client’s objectives. Winfield Associates takes tax consequences into consideration while designing and managing each client’s portfolio. Environmentally and socially-conscientious clients may place restrictions on types of investments or industry sectors.

Winfield Associates charges a percentage of managed assets for investment management services. Clients with less than $1 million under management pay $1,000 for financial planning. Those with a managed portfolio worth over $1 million pay a negotiated fee. Fees after the initial in-depth interview are from $100 to $200 per hour.

Winfield Associates, Inc
Assets Managed $212.5 Million
Minimum Assets $500,000
Number of Advisors 6
Fee Structure Fee-Based
Address 700 West St. Clair Ave Suite 404

Fairpoint Wealth Management

Fairpoint Wealth Management financial advisors work with clients to develop an interactive and actionable financial plan. The goal for many clients is early retirement, and Fairpoint’s wealth management program helps them achieve that dream.

Each Fairpoint Wealth Management client has 24/7 access to the Online Client Center. This portal provides access to all financial accounts in one place, the financial plan, portfolio performance reports, monthly statements, asset allocation and investment activity. Clients can perform what-if analyses to see how spending or saving behavior affects future finances. The Fairpoint financial advisor continuously monitors and reviews the plan with the client.

Investment guidance includes a proactive, disciplined investment process to increase wealth while managing tax implications. The firm also offers business and tax planning services.

Investment-related service fees are charged as a percentage of assets. Financial planning fees at Fairpoint Wealth Management vary. Project-based fees are from $500 to $10,000, depending on plan complexity. The hourly rate is $250, and Fairpoint Comprehensive Financial Planning consists of up to $4,000 upfront plus $100 to $600 per month. Clients with at least $250,000 assets under management receive comprehensive planning for free.

Fairpoint Wealth Management
Assets Managed $1.9 Million
Minimum Assets N/A
Number of Advisors 1
Fee Structure Fee-Only
Address 19410 Puritas Ave #110

Szarka Financial

Szarka Financial has been specializing in working with clients who are nearing or in retirement since 1982. The firm offers comprehensive financial education programs and investment, retirement, estate, tax and insurance planning. As part of the Cambridge Investment Research Advisors network, Szarka Financial may offer the broadest range of financial advisory and planning services in the Cleveland area.

Szarka Financial assists clients over the years they are accumulating retirement funds and taking distributions from those accounts. Financial advisors create an investment plan for clients and maintain the portfolio as part of the overall plan. The firm offers help with rolling over 401(k), 403(b), IRAs and profit sharing plans, tax-efficient estate planning and insurance coverage.

Szarka Financial advisors work one-on-one with clients in the Executive Financial Coaching Program. The financial advisor becomes the client’s personal chief financial officer to oversee all areas of the client’s financial life with great detail. The firm also provides business succession assistance to entrepreneurs.

Fees for working with a financial advisor or investment manager vary but are capped at $500 per hour or $25,000 per project. Those who hold a portfolio with Szarka Financial pay based on a percentage of managed assets up to 2.25%. Some fees involve commissions and solicitation fees from third-party managers. Szarka Financial’s total assets managed are within the Cambridge Investment Research Advisors network. Our number reflects that network.

Szarka Financial
Assets Managed $44.3 Billion
Minimum Assets $25,000
Number of Advisors 9
Fee Structure Varies
Address 29691 Lorain Road

MAI Capital Management, LLC

MAI Capital Management provides financial and investment advisory services to high net worth individuals and families, professional athletes and business owners. Financial advisors at the firm collaborate with clients to create, implement and monitor a unique financial plan.

MAI Capital maintains a philosophy of providing attentive client service and investment capital preservation while seeking growth opportunities. Financial and investment professionals coordinate a range of services into the client’s goals-based, comprehensive plan. The firm provides financial consulting, investment management and family office administration under one roof in a concierge-style format.

MAI Capital Management has been providing the specific services professional athletes require for over 40 years. The comprehensive wealth management program includes financial planning, insurance reviews, estate and tax planning as well as handling personal and business banking.

The minimum assets requirement at MAI is from $250,000 to $10 million depending on investment strategy. The firm recommends at least $500,000. Fees for services are typically up to 1% of managed assets, although some financial or tax planning is offered at rates from $250 to $400 per hour. Some investments through MAI Capital Management come with a performance fee.

MAI Capital Management, LLC
Assets Managed $4.46 Billion
Minimum Assets Varies
Number of Advisors 35
Fee Structure Fee-Based
Address 1360 East 9th St Suite 1100

Sequoia Financial Group

Financial advisors at Sequoia Financial Group work with clients all throughout their careers. The firm offers strategies for young professionals, families, retirees and business owners. Services are divided into financial planning, asset management, family wealth and retirement planning.

Sequoia’s financial advisors develop strategic, customized plans to assist clients in reaching financial goals. The firm provides ongoing support to keep clients on track, so they reach their objectives. Investment advisors have access to a wide range of investments to ensure client portfolios are balanced and growing while hedging against loss. The Family Wealth program may entail an entire suite of coordinated services, or clients can choose a la carte from planning for financial independence, charitable giving, transferring wealth and more.

Financial planning and wealth services cost from $1,500 to $10,000, or a negotiated fee. While the firm has no minimum on managed accounts, the fee structure starts at $2 million with a percentage of managed assets. Sequoia Financial Group has offices in Ohio, Florida and Michigan. Total assets managed are combined from all locations.

Sequoia Financial Group
Assets Managed $3.9 Billion
Minimum Assets N/A
Number of Advisors 2
Fee Structure Fee-Only
Address 1350 Euclid Ave Suite 800

NCA Financial Planners

NCA Financial Planners differentiates itself from other financial advisory firms on several points. Each multi-generational financial planning team is led by an experienced financial advisor with over 25 years at the firm. These teams provide the client with multiple professionals who are familiar with their financial plan, so there’s always an advisor to talk to.

Over 75% of financial advisors at NCA are certified financial planners or in the process of securing certification. Sixty percent of the financial advisors are women in response to clients asking for greater diversity. The CIO at NCA Financial Planners personally reviews current investments while seeking out new opportunities for the client’s financial growth.

NCA divides services across six areas. Life Planning includes planning for major transition, college planning and family meeting facilitation. Estate Planning and Retirement Planning develop strategic solutions for living independently and giving after death. Risk Management protects assets and lifestyle, Tax Planning reduces tax liabilities and Investment Planning solutions are customized and monitored for proper asset allocation.

Fees for financial planning at NCA Financial Planners range from $500 to $10,000, depending on the scope of the project. Investment advisory service fees are based on a percentage of managed assets. NCA has no minimum account requirement, except for $100,000 on SMA accounts and $5,500 on MMP accounts, both held in VISION2020 investment products.

NCA Financial Planners
Assets Managed $1.1 Billion
Minimum Assets Varies
Number of Advisors 13
Fee Structure Fee-Based
Address 6095 Parkland Blvd Suite 210

Conclusion

When choosing a financial advisor it’s important to do your homework. We recommend speaking with at least three advisors to ensure you have explored all options in Cleveland, OH.

We researched the best advisors in the Cleveland area with options for all financial situations and created our list to include all the information crucial to making this important decision.

Cleveland Financial Advisors
Company Assets Managed Minimum Assets Fee Structure
Winfield Associates, Inc $215.5 Million $500,000 Fee-Based
Fairpoint Wealth Management $1.9 Million N/A Fee-Only
Szarka Financial $44.3 Million $25,000 Varies
MAI Capital Management LLC $4.46 Million Varies Fee-Based
Sequoia Financial Group $3.9 Billion N/A Fee-Only
NCA Financial Planners $1.1 Billion Varies Fee-Based

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