10 Best Financial Advisors in Cleveland (for 2019)

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Ryan Friend

September 17, 2019  •  5 min read

Known in the United States for its passion for music and sports, Cleveland is also one of Ohio’s most important financial centers. We know that there are plenty of successful individuals living in the city, and so do a number of financial advisory firms based in the city, ready to help. If you need financial advice or guidance, we recommend looking into them. If you need help, we have created a list of the top five firms in the city to help you. We believe that the perfect financial advisor for you is on this list.

Editor’s Note: Complete the advisor quiz below to get matched with the best advisor for you:

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Here are our picks for the top five financial advisory firms in Cleveland:

Fort Washington Investment Advisors 

Fort Washington Investment Advisors is the largest financial advisor in the city of Cleveland. This company manages over $54.54 billion in assets for its clients. The financial group primarily provides advisory services to high net worth individuals and families and has a minimum account requirement of $500,000.

Founded in 1990, there are 89 financial advisors on its staff. Employing some of the best advisors in the business, the company focuses on long-term investment strategies that create stability and security for individuals and families over many years. The company primarily focuses on public and private equity investments in addition to fixed income investments.

You can expect the following working with Fort Washington Investment Advisors:

  • A fee-based compensation structure
  • The ability to work with some of the most talented financial advisors in the state of Ohio
  • A customer financial plan based on your individual needs and risk tolerance 

Bahl & Gaynor Investment Counsel 

With over $11.65 billion in assets under managementBahl & Gaynor Investment Counsel is another one of the top financial advisory firms in Cleveland. To work with this company, you will need to open an account with $750,000 in investible assets. This makes the firm very exclusive. However, because it is so exclusive, you will get more attention and care from your advisors.

Bahl & Gaynor Investment Counsel was founded in 1990. The company has 21 excellent financial advisors on its staff who all have many years of financial planning experience under their belts. In terms of its investment strategy, Bahl & Gaynor Investment Counsel offer six different portfolio models for their clients to choose from according to their needs and preferences. These models include quality growth, income growth, mid-cap growth, small growth, small/mid-cap income growth, and total return bond strategy. If you do not know which of these models will be best for you, your advisor will help you decide.

You can expect the following working with Bahl & Gaynor Investment Counsel:

  • A fee-only compensation structure
  • A wide variety of portfolio models to choose from
  • Consistent monitoring of your account to check on performance, with adjustments made when necessary to keep your financial life on track

Johnson Investment Counsel, Inc. 

Johnson Investment Counsel, Inc., established in 1965, has over $10.42 billion in assets under management. They have a $500,000 investible asset minimum, and the firm primarily serves high net worth individuals and families.

The fact that the company has been in business for over fifty years is a testament to the strength of its investing strategies. For its investing strategy, the firm does not just assign one financial advisor to each account. Instead, it prefers to have a team of advisors on every account, allowing for a range of specialties and opinions on every account.

You can expect the following working with Johnson Investment Counsel, Inc.

  • A fee-only compensation structure for their investment advisory services
  • A preference for investing primarily in ETFs, stocks, bonds, and mutual funds
  • A very collaborative approach to wealth management 

Stratos Wealth Partners Ltd. 

Stratos Wealth Partners Ltd. Is a financial advisory firm that manages over $5.84 billion in assets on behalf of its clients and does not have a minimum account requirement, making it a great choice for non-high-net-worth individuals.

Stratos Wealth Partners, Ltd. is owned by a parent company, Stratos Wealth Holdings LLC. Stratos Wealth Partners Ltd. offers a wide variety of services to its clients, including financial planning, hourly consulting, financial wellness counseling, third-party, investment advisor account management, retirement planning, and estate planning. For investment vehicles, Stratos advisors typically like to use alternative strategy mutual funds, closed-end funds, ETFs, and other options.

You can expect the following working with Stratos Wealth Partners, Ltd.

  • A fee-based compensation structure
  • The option to pay by the hour
  • Portfolio management with your best interests and financial situation in mind, by default leaning towards a high level of diversification 

MAI Capital Management, LLC 

MAI Capital Management manages $4.72 billion in assets on behalf of its clients, and there is a $500,000 account minimum to work with MAI Capital Management.

Founded in 1973 and with 32 advisors on its staff, the financial planning firm charges performance-based fees, differentiating it from its competitors. Among their large staff they have 17 certified financial planners (CFPs), many certified public accountants (CPAs), and other investment advisory professionals with years of experience providing financial services. For its investing strategies, MAI Capital focuses heavily on your time horizons, your risk tolerance, and your financial needs. Portfolios are created with all of these things in mind. The firm focuses on long-term investing, but they also do take market timing into consideration.

You can expect the following working with MAI Capital Management:

  • A fee-based compensation structure
  • Commissions paid to advisors who sell certain products to you
  • Assistance with creating financial goals if you need help with this 
  • Tax planningestate planninginvestment management (asset management), and other planning services available

Editor’s Note: Complete the advisor quiz below to get matched with the best advisor for you:

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Working with a great financial advisor can be one of the best financial decisions that you ever make. While you may be able to handle your finances yourself, it can be much easier and much more effective to work with a firm who specializes in financial planning. You should try working with one of these companies and see how it goes.  We also recommend you look up FINRA listings or use something like BrokerCheck if you’re concerned or curious about a firm. You can always switch later if you don’t like the consulting services you recieve.