Cranbrook Wealth Management, LLC
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Overview
Cranbrook Wealth Management, LLC is a financial advisory firm located in Bloomfield Hills, Michigan. Cranbrook Wealth Management, LLC handles $676.3 million in total assets across 863 customer accounts, placing it among the larger investment advisory firms in the United States by assets under management (AUM). It has a small team, including 4 financial advisors. Cranbrook Wealth Management, LLC is not a registered broker-dealer, meaning it cannot buy and sell securities for its accounts and those of its customers and instead is required to go through a broker-dealer company to do so. Securities are defined as tradable financial investments like options, bonds and equities.
Cranbrook Wealth Management, LLC administers all of its client assets on a discretionary basis. Discretionary management means that buy and sell decisions are made by an investment advisor without needing to seek the customer's authorization. The investment advisory firm's typical account size is $783,664. The typical advisor at Cranbrook Wealth Management, LLC administers around 216 client accounts.
Cranbrook Wealth Management, LLC's central office is located at 36330 Woodward Avenue, Bloomfield Hills, Michigan 48304. It is legally registered to provide services to customers across a number of states, including California, Florida, Michigan, New York, North Carolina and Texas.
Assets Under Management
Number of Advisors
Disclosures
Office Location
Cranbrook Wealth Management, LLC by the Numbers
$676.3 million
7
863
$783.7 thousand
Products and Services
Cranbrook Wealth Management, LLC provides a number of financial services, including financial planning services, portfolio management for individuals and small businesses and pension consulting services. In the prior fiscal year, Cranbrook Wealth Management, LLC provided financial planning services to 101-250 of its customers. The company is not involved in selling products or offering services other than investment advice to its investment advisory accounts.
Core Advisor Services
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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.
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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.
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Market Timing Services
This is the practice of attempting to make short-term profits on investments by buying low and selling high.
Other Services
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Selection of Other Advisors
This is the firm's assistance with choosing other advisors to work with who may have different specialties.
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Publication of Periodicals
This is the publication of various financial education materials.
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Educational Seminars/Workshops
This is the hosting of seminars or workshops to educate investors on financial concepts.
Fee Structure
Fees charged by financial advisors largely are based on which services the firm provides the client. Fees charged by the company most likely consist of some combination of the following fee structures: asset-based or fixed. Wrap fee programs, or the practice of bundling services for a single fee, are not provided by the company.
Available
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Offered by 69% of firms
Percentage of Assets
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Offered by 32% of firms
Fixed
Unavailable
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Find one of the 21% of firms that offer this fee type
Hourly
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Find one of the 1% of firms that offer this fee type
Commissions
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Find one of the 26% of firms that offer this fee type
Performance-based
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Find one of the 0% of firms that offer this fee type
Subscription
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Find one of the 10% of firms that offer this fee type
Other
Types of Clients
Cranbrook Wealth Management, LLC works with retail investors and high net worth investors. Out of its 863 accounts, Cranbrook Wealth Management, LLC's largest client by number of accounts is high net worth investors, although it also manages money for 187 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 more than $1.50 million or who is deemed a "qualified purchaser" (a standard met by having at least $5 million in investments). None of its customers are from outside of the U.S.
- High-Net-Worth Individuals* - 81.3%
- Other Individuals - 18.7%
- Corporations - 0%
- 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
Cranbrook Wealth Management, LLC does not have any disclosures.
Please visit its Form ADV for more details.
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Financial Advisors at Cranbrook Wealth Management, LLC
Bloomfield Hills, MI
Houston, TX
Bloomfield Hills, MI
Southfield, MI
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