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Company Details
Marcum Wealth ("Marcum") is a financial advisory firm dedicated to helping clients achieve their lifelong and legacy goals. The firm describes itself as a primary resource for navigating financial planning through a multi-disciplined approach. Marcum provides customized roadmaps, time-tested planning, and investment management processes tailored to individual client needs.
Marcum Wealth's mission centers on empowering clients to become effective "CEOs of their money" by leveraging tools, resources, and technology. The firm serves various client types, including families, business owners, and retirement plan sponsors, focusing on comprehensive wealth management and financial wellness solutions. Marcum's client service emphasizes clear guidance and a proactive approach to financial goal-setting.
Marcum Wealth positions itself in the retail financial services market as a trusted partner for individuals, families, and businesses seeking financial guidance. The firm emphasizes a comprehensive, customized approach to financial planning and investment management, grounded in each client’s unique situation and long-term goals. Marcum highlights its capabilities in family wealth management, corporate retirement planning, and serving business owners, presenting itself as a multidisciplinary team equipped to guide clients through life-long and legacy planning. Marcum's fee-based, fiduciary model underlines its commitment to transparency and prioritizing client interests.
Marcum Wealth adopts an allocation-focused perspective when it comes to the investing world. The firm focuses on a client-centric approach, emphasizing financial planning over performance. Marcum's investment philosophy is implemented through a centralized team in Cleveland, ensuring consistency and efficiency.
Marcum Wealth uses a combination of modeled and custom/bespoke portfolios. The firm tailors it's advisory services to individual client objectives, considering specific needs such as cash flows, liquidity, risk tolerance, and return expectations. Marcum's asset allocation frameworks include Income, Conservative, Balanced, Moderate, and Growth portfolios, each with varying proportions of equity and fixed income investments.
Securities Used:
Marcum Wealth prefers a variety of securities including:
- Individual Stocks
- Individual Bonds
- ETFs
- Mutual Funds
- Alternative Investments
- Annuities
Use of Alternative Investments Marcum Wealth offers alternative investments such as hedge funds, private equity, and real estate investment trusts (REITs). The firm provides access to certain alternative investment vehicles or strategies.
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Acquisition Model
Full Acquisition
Yes. For further information, please contact Alaris.
Yes.
For further information, please contact Alaris.
For further information, please contact Alaris.
Mandatory Points of Alignment
Marcum strives for consistent branding across all partner offices and allows a 90-day period to adopt the firm's brand.
Marcum Wealth asks advisors to centralize all operations such as tech, HR, etc.
P&L (Profit & Loss) statements will be segregated post-close.
While adherence to the client experience is not mandatory, Marcum strongly encourages its partners to do so. Advisors can keep their client experience, but the financial plan must come through Marcum's centralized team.
Marcum prefers that partners adopt its practice management moving forward.
While the investment process has been centralized to ensure consistency and streamline operations, advisors continue to play a vital role in plan design and recommendations. Although central teams handle allocations, trading, and planning, the input of advisors remains crucial to the overall success.
Advisor Value Proposition
Marcum demonstrates a strong commitment to the professional development of their younger advisors by actively encouraging them to obtain their CFP certification. They provide comprehensive training programs that cover different topics each month, including planning, investment frameworks, various areas of the firm, and best practices. Furthermore, Marcum offers an Associate Advisors Handbook, serving as a valuable resource for associates to set expectations and milestones in their work. These initiatives highlight Marcum Wealth's dedication to fostering growth and advancing the careers of its associates.
Partners of Marcum Wealth benefit from the invaluable support of their central planning team, which plays a crucial role in assisting advisors in developing customized financial plans for their clients.
To streamline operations, Marcum Wealth boasts a dedicated 401(k) team capable of servicing all retirement accounts. This strategic allocation of resources empowers advisors to focus on client-facing tasks, resulting in increased efficiency and an enhanced client experience. Additionally, Marcum Wealth offers an exclusive family office service called Marcum Private Client, catering specifically to high-net-worth families with assets exceeding $25 million.
In addition to offering financial planning and investment management services, Marcum Wealth operates two distinct entities that contribute to its integrated client ecosystem. Marcum Wealth stands apart from Marcum LLP, the accounting firm, distinguishing it from most joint wealth management and accounting firms. While maintaining an ownership stake in each other, Marcum Wealth and Marcum LLP maintain their unique identities and cultures, mutually contributing to each other's success. This arrangement allows Marcum Wealth to operate independently while benefiting from the synergies within the broader ecosystem.
Marcum's marketing efforts leverage the expertise of thousands of Marcum LLP CPAs and utilize a range of tactics including word-of-mouth referrals, targeted events, cultivation of Centers of Influence, strategic social media outreach, and referrals from existing clients. Over time, they have established a strong foundation in these areas, and they have since taken additional steps to expand their reach and enhance their marketing capabilities. They hired a dedicated marketing coordinator last year to spearhead a comprehensive content strategy, including a bi-weekly presence on LinkedIn and Instagram. Additionally, they have begun collaborating with one of their advisors on a new podcast initiative, further bolstering their brand visibility and thought leadership position in the market. Moving forward, they will continue to leverage the depth of their experience and capabilities, as well as the marketing resources of Marcum, to drive even greater engagement with their clients and prospects.
Teams are structured in a diamond shape, with lead advisors at the top and associate advisors and client support advisors (CSAs) below them. Back-office support is centralized in Cleveland, allowing team members to work more effectively together. This centralization will also enable the allocation of team members to be more efficiently managed, with the cost of each employee allocated back to the team to provide a lift.
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