Clearstead Advisors, LLC is a large advisory firm based in Cleveland. It manages $4.33 billion of regulatory assets for 2,872 client accounts. It has been registered with the SEC as an adviser since 2018 and has operated in the jurisdictions of California, Florida, Illinois, and 15 other states.
Clearstead Advisors provides financial planning services, portfolio management for individuals and small businesses, portfolio management for businesses and institutional clients, pension consulting services, selection of other advisers, publication of newsletters, and investment consulting services to 401(k), endowment, foundation and healthcare clients. It prepares financial plans for more than 250 clients. On top of advisory services, the firm doesn't engage in other business activities.
The assets under management (AUM) of Clearstead Advisors, LLC is $4.33 billion. The firm's AUM has grown by 7% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.
The advisory firm has several streams of revenue. Clients pay Clearstead Advisors, LLC for their services and products based on a percentage of assets under management and fixed fees. Compensation based on assets under management promotes a long-term relationship between a client and the adviser and helps align mutual interests. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.
The firm provides services to individuals, high net worth individuals, corporations or other businesses, and pension and profit sharing plans. The largest group of clients of Clearstead Advisors is high net worth individuals with 390 clients and $2.86 billion of assets under management. Among the 10 most similar advisory firms, Clearstead Advisors has the highest percentage of high net worth individuals out of all clients.
The amount of regulatory assets under management is $4.33 billion for 562 clients that can include trusts, estates, and 401(k) plans and IRAs of individuals and their family members. None of the firm’s clients are foreign persons or businesses.
Clearstead Advisors doesn't advise any private funds.
The company employs 73 people that are either part- or full-time employees. 53 percent of the employees work as investment advisers or researchers. 8 employees are registered as investment adviser representatives with the state securities authorities.
There isn’t anyone with the role of looking for and bringing in new clients on behalf of the firm. The firm compensates employees in addition to the salary for bringing in new clients. Employees don’t receive compensation from other entities for client referrals.
The principal office where Clearstead Advisors, LLC performs its advisory services is located at 1100 Superior Ave East, Cleveland, OH 44114, which is also the mailing address of the firm. An additional office of the firm is in New York, NY. It doesn’t run an office outside of the United States.
You can reach the main office by calling the phone number 216-621-1090 or by fax 216-621-1093. The normal business hours are 8:00 a.m. - 5:00 p.m. on Monday - Friday. You can find more information about the New York firm at clearstead.com and its LinkedIn profile.