Fairway Wealth Management LLC (Independence)

Name: Fairway Wealth Management LLC
Address: 6055 Rockside Woods Blvd., Independence, OH, 44131
Telephone: 216-573-7200

Fairway Wealth Management LLC is a large advisory firm based in Independence. It manages $1.37 billion of regulatory assets for 220 client accounts. It has been registered with the SEC as an adviser since 2002 and has operated in the jurisdictions of Colorado, Florida, Ohio, and Texas.

Fairway Wealth Management provides financial planning services, portfolio management for individuals and small businesses, portfolio management for businesses and institutional clients, and selection of other advisers. It prepares financial plans for more than 100 clients. On top of advisory services, the firm doesn't engage in other business activities.

Fairway Wealth Management: assets under management

The assets under management (AUM) of Fairway Wealth Management LLC is $1.37 billion. The firm's AUM has grown by 3% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $3.1 million in discretionary accounts and $1.37 billion in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $206.79 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $6.69 million.

Fairway Wealth Management has custody of $45.85 million in cash and securities for 17 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in exchange traded securities the most. They account for 51% of the total AUM. The second-largest asset type is investment and business development companies, which make up 35% of the firm’s portfolio. Investments in state and local bonds form 8% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Fairway Wealth Management LLC for their services and products based on a percentage of assets under management and fixed fees. Flat-fee based compensation is the most transparent and the one you can safely predict in advance. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Fairway Wealth Management serves?

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 Fairway Wealth Management is high net worth individuals with 188 clients and $1.32 billion of assets under management. Among the 9 most similar advisory firms, Fairway Wealth Management has the highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $1.37 billion for 220 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.

Fairway Wealth Management doesn't advise any private funds.

Careers at Fairway Wealth Management LLC

The company employs 14 people that are either part- or full-time employees. 50 percent of the employees work as investment advisers or researchers. 6 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.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Mark Steven Weiskind	Managing director and chief compliance officer	1 Apr 2002	Other	3029504
Daniel Raymond Gaugler	Ceo and managing director	1 Apr 2002	25% - 50%	2888330
Michael David Benson	Member	1 Apr 2002	25% - 50%	1058651
Charles Joseph Avarello	Secretary	1 May 2016	Other	4525996
Terry John Waye	Member	1 May 2016	Other	2388751

Based in Independence

The principal office where Fairway Wealth Management LLC performs its advisory services is located at 6055 Rockside Woods Blvd., Independence, OH 44131, which is also the mailing address of the firm. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 216-573-7200 or by fax 216-573-7205. The normal business hours are 8:30 - 5:00 on Monday - Friday. You can find more information about the New York firm at fairwaywealth.com.