Stratos Wealth Advisors LLC

CRD#283816
Investment Advisor Firm

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Learn more about Stratos Wealth Advisors LLC

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

    • Overview

    Stratos Wealth Advisors LLC is a financial advisory firm headquartered in Beachwood, Ohio. Stratos Wealth Advisors LLC manages $3.5 billion in assets under management over 12,212 customer accounts, placing it among the largest investment advisory firms in the nation by assets under management (AUM). Stratos Wealth Advisors LLC has a large group, including 60 financial advisors. Stratos Wealth Advisors LLC is not a registered broker-dealer, signifying that the company is not able to buy and sell securities for its own accounts as well as its clients' and instead must go through a broker-dealer company to do so. Securities are defined as exchangable fiscal investments such as bonds, equities and options.

    Stratos Wealth Advisors LLC oversees the majority of the firm's client assets on a discretionary basis. Discretionary management signifies that buy and sell choices are made by an investment advisor without needing the client's consent. It also oversees 97 non-discretionary accounts totaling $14.1 million in assets under management. The firm's average account size is $290,650. An average advisor at Stratos Wealth Advisors LLC oversees around 204 client accounts.

    Stratos Wealth Advisors LLC's central office is at 3750 Park East Drive, Beachwood, Ohio 44122. The company is registered to serve customers across 51 U.S. states and territories.

    Assets Under Management

    $3.5 billion

    Number of Advisors

    60

    Disclosures

    No

    Office Location

    3750 Park East Drive
    Beachwood, OH 44122

    Stratos Wealth Advisors LLC by the Numbers

    Total Assets Under Management

    $3.5 billion

    National Average: $8.6 billion
    Total Number of Employees

    102

    National Average: 64
    Total Number of Accounts

    12,212

    National Average: 375,227
    Average Account Size

    $290.6 thousand

    National Average: $23.0 thousand
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    Products and Services

    Stratos Wealth Advisors LLC provides a number 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 educational seminars. In the prior financial year, Stratos Wealth Advisors LLC provided 101-250 of its accounts with financial planning services. The firm does not sell products or offer services aside from investment advice to its investment advisory customers. It is affiliated with a number of other service providers in the financial services industry, including with a broker-dealer or securities dealer.

    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.

    • Offered by 6% of firms

      Educational Seminars/Workshops

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

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    Fee Structure

    Fees for financial advice largely vary depending on the services provided. Fee types charged by Stratos Wealth Advisors LLC most likely consist of any combination of the following fee structures: asset-based, hourly, fixed or other. Stratos Wealth Advisors LLC participates in a wrap fee program, in which the company offers a service bundle 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 21% of firms

      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.

    • 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.

    • Offered by 10% of firms

      Other

      Show Explanation

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

    Unavailable

    • 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.

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    Types of Clients

    The firm does business with a number of different investors. Stratos Wealth Advisors LLC works with retail investors, high net worth investors, pension plans, charitable organizations, insurance companies and corporations. Out of its 12,212 customers, Stratos Wealth Advisors LLC's largest client by number of accounts is retail investors, although it also serves 591 high-net-worth individuals. A high-net-worth individual is defined by the SEC as an individual who has at least $750,000 in AUM or a net worth of at least $1.50 million or who is considered a "qualified purchaser" (a standard met by having at least $5 million in investments). None of the company's clients are represented by people from outside of the U.S.

    • High-Net-Worth Individuals* - 11.94%
    • Other Individuals - 86.62%
    • Corporations - 1.17%
    • Charitable Organizations - 0.26%

    * 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

    Stratos Wealth Advisors LLC does not have any disclosures.

    Please visit its Form ADV for more details.

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    Financial Advisors at Stratos Wealth Advisors LLC

    Phillip Friedman
    Beachwood, OH
    Cassidy Schmidt
    Pittsburgh, PA
    Eric Biddle
    Dublin, OH
    Dennis Notchick
    San Diego, CA
    Andrew Smith
    Dublin, OH
    James Conley
    Canton, OH
    Jarrett Felton
    Rochester, NY
    Gayle Rosewell
    Rockland, MA
    Zachary Sell
    Mars, PA

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