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Company Details
Marcum Wealth 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. They provide customized roadmaps, time-tested planning, and investment management processes tailored to individual client needs.
Their mission centers on empowering clients to become effective "CEOs of their money" by leveraging tools, resources, and technology. They serve various client types, including families, business owners, and retirement plan sponsors, focusing on comprehensive wealth management and financial wellness solutions. Their 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. They emphasize a comprehensive, customized approach to financial planning and investment management, grounded in each client’s unique situation and long-term goals. They highlight their capabilities in family wealth management, corporate retirement planning, and serving business owners, presenting themselves as a multidisciplinary team equipped to guide clients through life-long and legacy planning. Their fee-based, fiduciary model underlines their commitment to transparency and prioritizing client interests.
Marcum Wealth offers a comprehensive investment management platform designed to help clients achieve their financial goals.
Strategy Types: Marcum Wealth provides a range of investment strategies tailored to different risk tolerances and objectives. Their asset allocation frameworks include Income, Conservative, Balanced, Moderate, and Growth portfolios, each with varying proportions of equity and fixed-income investments.
External and Internal Managers:While specific details about the use of external and internal managers are not explicitly outlined, Marcum Wealth emphasizes collaboration with leaders in complementary disciplines across their affiliates. This suggests a comprehensive approach that involves both internal expertise and external partnerships to deliver well-rounded investment solutions.
Philosophy and Approach to Management:Marcum Wealth's investment philosophy centers on providing clients with the tools, resources, and technology to become effective "CEOs of their money." All advice is based on customized financial plans grounded in each client's unique situation and vision, ensuring that investment solutions and strategies align with the client's best interests. Their time-tested financial planning and investment management processes are designed to support clients in reaching their lifelong and legacy goals.
Additionally, Marcum Wealth places importance on fund selection in portfolio management. They employ a disciplined approach to fund analysis, considering factors such as risk-adjusted performance, alignment with client goals, operational due diligence, and fee structures. This reflects their commitment to constructing portfolios that align with clients' future aspirations and liabilities.
Marcum Wealth's investment management platform is characterized by personalized strategies, a collaborative approach, and a commitment to aligning investment solutions with clients' unique financial goals.
Locations
Company Videos
Acquisition Model
Full Acquisition
Phantom equity only
Yes
Max Cash: 100%
Max Equity: 0%, Offers Phantom Stock as a part of deal consideration.
The share of ongoing economics will be based on a split of gross profits.
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 their centralized team.
Marcum prefers that partners adopt their practice management moving forward.
Although the investment process has been centralized to ensure consistency and streamline operations, it's important to note that the advisors still play a crucial role in the plan design and recommendations. While central teams are responsible for handling allocations, trading, planning, etc. The advisors' input is still critical to their 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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