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CRAIN’S CLEVELAND BUSINESS z MAY 9 - 15, 2016 z PAGE 31
The List COMPANY THIS ADDRESS YEAR PHONE/WEBSITE
LARGEST INVESTMENT ADVISERS Ranked by assets under management locally TOTAL REGULATORY ASSETS UNDER MANAGEMENT LOCALLY (MILLIONS) (2)
TOTAL NUMBER OF LOCAL ACCOUNTS
MINIMUM INDIVIDUAL ACCOUNT (THOUSANDS)
PORTFOLIO ANALYSTS ON STAFF
COMPENSATION FOR SERVICES
CHIEF INVESTMENT OFFICER
(1)
TOP LOCAL EXECUTIVE
1
CBIZ Retirement Plan Advisory Services 6050 Oak Tree Blvd. S., Suite 500, Independence 44131 (216) 447-9000/www.cbiz.com/retirement
$7,926.8
600
$1,000.0
7
Fixed fees, percentage of AUM and hourly
Brian Dean
Luke F. Baum president
2
CAPTRUST 222 S. Main St., Akron 44308 (330) 535-4550/www.captrustadvisors.com
$6,016.1
200
$1,000.0
0
Fee only, percentage of assets under management
Eric J. Freedman
Steve D. Wilt senior vice president, financial adviser
3
MAI Capital Management LLC 1360 E. Ninth St., Suite 1100, Cleveland 44114 (216) 920-4800/www.mai.capital
$3,819.6
1,155
$500.0
12
Fee-only based on assets under management or set fee for non-investment services
John D. Zaller
Richard J. Buoncore managing partner
4
CM Wealth Advisors Inc. 30195 Chagrin Blvd., Suite 250, Pepper Pike 44124 (216) 831-9667/www.cmwealthadvisors.com
$2,471.2
380
$5,000.0
1
Percentage of assets under management, fixed fees
Cynthia G. Koury
James W. Wert president, CEO
5
Lincoln Financial Advisors/Sagemark Consulting 28601 Chagrin Blvd., Suite 300, Cleveland 44122 (216) 765-7400/www.lfa-sagemarkcleveland.com
$2,181.7
21,000
$250.0
6
Flat fee, commission and/or percentage of assets under management
Tim Johnson Ben Huddle David Downing
Brian R. Deal managing principal
6
Sequoia Financial Advisors LLC (3) 3500 Embassy Parkway, Akron 44333 (330) 375-9480/www.sequoia-financial.com
$1,476.1
3,297
$0.0
4
Percentage of assets under management, hourly charges, fixed fees
Russell Moenich
Thomas A. Haught president
7
Fairport Asset Management 1350 Euclid Ave., Suite 400, Cleveland 44115-1833 (216) 431-3000/www.fairportasset.com
$1,410.1
1,696
$1,000.0
5
Fee only
JT Mullen John Silvis
Kenneth Coleman Heather Ettinger managing partners
8
HPM Partners LLC 600 Superior Ave., Suite 1000, Cleveland 44114 (216) 687-0700/www.hpmpartners.com
$1,343.3
160
$2,000.0
NA
Fee only from clients
Benjamin A. Pace
Irvin A. Leonard managing partner
9
Fairway Wealth Management LLC 6055 Rockside Woods Blvd., Suite 330, Independence 44131-2317 (216) 573-7200/www.fairwaywealth.com
$1,052.7
160
$2,000.0
5
Fee only, based on assets and/or scope of services
Mark S. Weiskind
Daniel R. Gaugler CEO, managing director
10
McDonald Partners LLC 959 W. Saint Clair Ave., Cleveland 44113 (216) 912-0567/www.mcdonald-partners.com
$871.8
1,952
NA
2
Fee and commission
Bill Hegarty
Thomas McDonald president, CEO
11
MGO Investment Advisors Inc. 24400 Chagrin Blvd., Suite 310, Beachwood 44122 (216) 771-4242/www.mgo-inc.com
$626.3
3,303
$15.0
2
Percentage of assets under management
Michael Bradford Moskal
Ronald S. Gross CEO
12
Cornerstone Capital Advisors 1640 Corporate Woods Circle, Uniontown 44685 (330) 896-6250/www.ccadvisors.com
$534.4
1,611
$100.0
4
Fee only
Mario C. Giganti
Mario C. Giganti Mark W. Fearigo principals
13
St. Clair Advisors LLC 6120 Parkland Blvd., Suite 306, Mayfield Heights 44124 (216) 925-5670/www.saintclairadvisors.com
$488.9
70
$5,000.0
2
Fee only, fixed or based on assets under management
David W. Sommer
Ronald E. Bates CEO
14
Landing Point Financial Group 36350 Detroit Road, Avon 44011-1506 (440) 934-7100/www.landingpointfinancialgroup.com
$454.0
2,470
$1.0
5
Percentage of assets under management
NA
Joe L. Flinner president, CEO
15
Aurum Wealth Management Group LLC 6685 Beta Drive, Mayfield Village 44143 (440) 605-1900/www.aurumwealth.com
$453.1
206
$1,000.0
2
Fee only
Michael T. McKeown
Eric N. Wulff Christopher D. Bart managing directors
16
Vantage Financial Group Inc. 6200 Rockside Road, Cleveland 44131 (216) 642-7878/www.vanfin.com
$429.0
1,942
NA
NA
Fee and commission
NA
Autumn A. Taylor senior vice president
17
Demming Financial Services Corp. 13 New Hudson Road , Aurora 44202 (330) 562-2122/www.demmingfinancial.com
$340.1
2,666
NA
1
Fee based with 95% AUM
David William Demming Jr.
David William Demming president
18
Scott Snow (financial advisors) LLC 1991 Crocker Road, Suite 210, Westlake 44145 (440) 871-7669/www.s2fa.com
$331.1
75
$2,000.0
1
Fee only
Scott P. Snow
Scott P. Snow managing director
19
Financial Management Strategies Inc. 9050 Sweet Valley Drive, Valley View 44125 (216) 642-1099/www.fmstrategies.biz
$237.8
622
$50.0
NA
Fee only, percentage of assets under management
Charles B. Elliott
Jeffrey C. Knox president
20
Paradigm Wealth Management LLC 159 Crocker Park Blvd., Suite 400, Westlake 44145 (440) 892-5900/www.investpwm.com
$126.2
65
$500.0
NA
Percentage of assets under management
Marnie Randel
Douglas C. Kuhlman managing partner
RESEARCHED BY DEBORAH W. HILLYER Source: Information is supplied by the companies unless footnoted. Crain's Cleveland Business does not independently verify the information and there is no guarantee these listings are complete or accurate. We welcome all responses to our lists and will include omitted information or clarifications in coming issues. Should your company be on this list? Send an email to dhillyer@crain.com to request a survey. (1) Companies that are registered with the SEC as investment advisers but do not have full control over where their clients' money is invested are included in the Investment Advisers list. This criteria is in keeping with the standard used by our sister publication, Pensions & Investments. (2) As of the most recent ADV filed with the SEC. (3) Numbers as of January 31, 2016.
Tec Inc. widens ‘toolkit’ via W.E. Monks merger BY STAN BULLARD sbullard@crain.com @CrainRltywriter
Tec Inc. Engineering & Design of Eastlake and W.E. Monks & Co. Engineers of Columbus will merge effective Monday, May 9, for longterm goals but will realize a short-term one immediately that reflects the current busy context of building-related engineering practices. Russ Edwards, president of W.E. Monks, said, “We have more work
than staff. We’re hoping to leverage the strength of the combined firms and additional resources to reduce that and add more.” He estimates Monks has six months of backlog, or work contracted but not yet begun, while Tec president Terry Kilbourne characterized his firm’s backlog of projects as “very full.” Under the merger, Kilbourne said Tec gains added access to the large Columbus construction market that will allow it to increase its range beyond its current three-person staff in Columbus, primarily devoted to
Tec Studio, an affiliate devoted to lighting and technology design services. “We have a similar culture with Monks,” Kilbourne said. “This merger is a strong strategic fit for both firms, as it gives us a bigger, better toolkit of engineering resources to offer our clients. Monks’ professionals are highly experienced, and they bring great expertise and depth to Tec’s existing practices.” Monks gains the ability to compete with increasingly larger engineering firms in the Columbus market, Edwards said, a situation he
expects to grow with the plethora of such big mergers in the industry. “We’re getting our share of work,” Edwards said, “but have a perception we would do better if we were larger.” The merger takes Tec’s total of engineers and design professionals to 27 and brings the Columbus Tec staff count to 10. Beyond the shareholder additions, terms of the merger were not disclosed, nor were billings. Monks will initially operate as Monks Engineers LLC, a Tec subsidiary, and Columbus operations
will combine in Monks office at 3073 High St. Edwards will be managing principal of Tec’s Columbus office. Tec, founded in 1983, is a full-service mechanical and electrical plumbing firm, which also describes Monks, founded in 1960. Both firms serve the health care, higher education and industrial markets. The merger also expands the markets the combined firm serves. Tec has broader commercial, retail and restaurant experience. Monks has more depth in state and municipal government projects.