Marcum Wealth, LLC

CRD#134628
Investment Advisor Firm

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Learn more about Marcum Wealth, LLC

  • Overview
  • By the Numbers
  • Products and Services
  • Fee Structure
  • Types of Clients
  • Disclosures
  • State Registrations
  • Office Locations
  • Firm Advisors

    • Overview

    Marcum Wealth, LLC is an advisory company located in Cleveland, Ohio. It manages $2.3 billion in total assets over 6,218 accounts, placing it among the biggest firms in the country by assets under management (AUM). It has a small team, including 34 financial advisors. Marcum Wealth, LLC does not act as a registered broker-dealer, signifying that the company cannot buy and sell securities for its accounts and those of its clients and instead must go through a broker-dealer firm to do so. Securities are exchangable fiscal assets like options, bonds and equities.

    Marcum Wealth, LLC oversees most of the firm's client assets on a discretionary basis. Discretionary management means that transaction choices are made by an investment advisor without needing to seek the customer's authorization. Marcum Wealth, LLC also manages 25 non-discretionary accounts totaling $29.6 million in assets under management. Marcum Wealth, LLC's average account size is $361,986. The typical financial advisor at Marcum Wealth, LLC manages about 183 client accounts.

    Marcum Wealth, LLC's headquarters is at 6685 Beta Drive, Cleveland, Ohio 44143. The firm is permitted to provide services to clients throughout 31 U.S. states and territories.

    Assets Under Management

    $2.3 billion

    Number of Advisors

    34

    Disclosures

    No

    Office Location

    6685 Beta Drive
    Cleveland, OH 44143

    Marcum Wealth, LLC by the Numbers

    Total Assets Under Management

    $2.3 billion

    National Average: $8.6 billion
    Total Number of Employees

    34

    National Average: 64
    Total Number of Accounts

    6,218

    National Average: 375,227
    Average Account Size

    $362.0 thousand

    National Average: $23.0 thousand
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    Products and Services

    Marcum Wealth, LLC offers a variety of financial services, which can include financial planning services, portfolio management for individuals and small businesses, portfolio management for institutional clients, pension consulting services, selection of other advisers and other services. In the prior fiscal year, it provided financial planning services to 251-500 of its accounts. The company is involved in selling products or offering services different than investment advisory services to its customers. It is affiliated with one or more other companies in the financial services industry, including with an insurance company or agency.

    Core Advisor Services

    • Offered by 31% of firms

      Financial Planning Services

      This is the process of planning for your financial future, including for events such as retirement, your child's college education or estate succession.

    • Offered by 46% of firms

      Portfolio Management

      This is the selection and management of an investment mix and portfolio strategy for individuals and small businesses.

    • Find a firm that offers this service

      Market Timing Services

      This is the practice of attempting to make short-term profits on investments by buying low and selling high.

    Other Services

    • Offered by 20% of firms

      Selection of Other Advisors

      This is the firm's assistance with choosing other advisors to work with who may have different specialties.

    • Find a firm that offers this service

      Publication of Periodicals

      This is the publication of various financial education materials.

    • Find a firm that offers this service

      Educational Seminars/Workshops

      This is the hosting of seminars or workshops to educate investors on financial concepts.

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    Fee Structure

    Financial management fees typically vary depending on which services the firm provides the client. However, fees charged by Marcum Wealth, LLC most likely are comprised of the following fee types: asset-based or fixed. The firm does not provide a wrap fee program, in which the company offers a bundle of services for a single fee.

    Available

    • Offered by 69% of firms

      Percentage of Assets

      Show Explanation

      This fee, which is the most common fee type charged by advisors for portfolio management, is based on the amount of assets you have under management. Also referred to as an asset-based fee, this fee typically ranges from 0.50%-2.00% of AUM annually. You'll typically pay a lower rate the more assets you have under management.

    • Offered by 32% of firms

      Fixed

      Show Explanation

      Fixed fees are a one-time, lump sum charged for a specific service, like the creation of a financial plan without subsequent implementation. This can be useful if you only need advice for one specific purpose, rather than a long-term advisor. Fixed fees usually range from $1,000 to $3,000.

    Unavailable

    • Find one of the 21% of firms that offer this fee type

      Hourly

      Show Explanation

      Like a lawyer, a financial advisor may charge you by the hour. This can be helpful if you are only looking for short-term or one-time advice. Rates typically range from $100-$300 per hour, depending on the complexity and level of services needed.

    • Find one of the 1% of firms that offer this fee type

      Commissions

      Show Explanation

      Occasionally, advisors earn commissions from selling financial products, such as securities or insurance policies, or making certain referrals or transactions. Advisors who earn commissions may be incentivized to make certain recommendations to clients in order to make a commission. Fee-only advisors do not earn commissions, while fee-based advisors may.

    • Find one of the 26% of firms that offer this fee type

      Performance-based

      Show Explanation

      Advisors only earn performance-based fees if a portfolio outperforms a defined benchmark. This fee may be calculated in a number of ways but most commonly is charged as a percentage of investment profits. Performance-based fees may incentivize advisors to make riskier decisions in order to generate higher returns.

    • Find one of the 0% of firms that offer this fee type

      Subscription

      Show Explanation

      Firms generally charge this fee for educational materials provided, such as a monthly magazine. This can be useful if you want to learn about investing or financial management on your own.

    • Find one of the 10% of firms that offer this fee type

      Other

      Show Explanation

      Firms can sometimes charge customers using non-traditional fee structures. See this firm's Form ADV for more details.

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    Types of Clients

    The company provides services to retail investors, high net worth investors, pension plans and corporations. Out of its 6,218 accounts, Marcum Wealth, LLC's largest client by number of accounts is retail investors, though it also serves 570 high-net-worth individuals. The SEC defines a high-net-worth individual as a person who has at least $750,000 under management or a net worth of more than $1.50 million or who is considered a "qualified purchaser" (a standard met by having at least $5 million in investments). None of its customers are represented by people from outside of the U.S.

    • High-Net-Worth Individuals* - 21.81%
    • Other Individuals - 77.27%
    • Corporations - 0.92%
    • Charitable Organizations - 0%

    * The U.S. Securities and Exchange Commission (SEC) defines a high-net-worth individual as someone who has at least $750,000 under management.

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    Disclosures

    Marcum Wealth, LLC does not have any disclosures.

    Please visit its Form ADV for more details.

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    Financial Advisors at Marcum Wealth, LLC

    Gregory Lopez
    Cleveland, OH
    Matthew Harris
    Melville, NY
    Matthew Reghetti
    Akron, OH
    Kenneth Mears
    Cleveland, OH
    David Rome
    Cleveland, OH
    Kaitlin Nicholis
    Bloomfield, NJ
    Alexander Sterba
    Akron, OH
    Brandon Dunn
    Cleveland, OH
    Wendy Eldridge
    Cleveland, OH

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