Cleveland, Ohio is home to a vibrant financial services industry. As a major Midwest city with a long history of banking and wealth management, Cleveland boasts some of the top investment firms in the region. In this article, we will provide an overview of the leading investment management companies in Cleveland, discussing their key focus areas, assets under management, and reputation in the industry.
Key Investment Management Firms in Cleveland
Some of the most prominent investment firms in Cleveland include Victory Capital, DiGeronimo Asset Management, The Arcadia Investment Corporation, and McCarthy Asset Management.
Victory Capital is a global investment management firm with over $150 billion in assets under management. They offer a range of investment strategies across equities, fixed income, multi-asset solutions, commodities, and customized portfolio construction. DiGeronimo Asset Management has over $1 billion in assets under management and specializes in managing equity portfolios for high net worth individuals.
The Arcadia Investment Corporation provides wealth management services to ultra-high net worth families. They take a goals-based approach to constructing bespoke portfolios. McCarthy Asset Management offers comprehensive financial planning and investment advisory services to individuals, families, trusts, and institutions across Northeast Ohio.
Focus on Personalized Service and Customized Portfolios
Many of Cleveland’s top investment firms differentiate themselves through highly customized portfolio management and personalized client service. Rather than taking a one-size-fits-all approach, they get to know each client’s specific goals, risk tolerance, and preferences.
For example, Atlas Brown provides customized asset allocation strategies and portfolios for every client. They have a reputation for providing individualized attention and service. Other firms like Unyted Investment Management build diversified, tax-efficient portfolios tailored to each investor’s unique situation and objectives.
This emphasis on personalized relationships and customized solutions reflects the conservative, relationship-based business culture in Cleveland.
Expertise in Equity Investing and Fixed Income Strategies
Cleveland investment managers often have specialized expertise in equity investing and fixed income strategies. Equity management tends to focus on a value-oriented approach of selecting undervalued stocks. Wellington Management operates a Cleveland office with equity analysts and portfolio managers conducting bottom-up fundamental research.
On the fixed income side, Western Reserve Capital Management is dedicated exclusively to managing municipal bond portfolios. They leverage deep credit research capabilities honed from decades of experience in the Cleveland market. Other firms like Barrington Asset Management offer a mix of equity and fixed income solutions to provide balanced portfolios.
Serving Individual and Institutional Investors
The city’s investment firms serve a diverse client base of individuals, families, endowments, pensions, and other institutions. While many focus exclusively on private wealth management, some like Victory Capital also offer investment strategies and solutions for institutional clients.
Key institutional clients include corporate and public pension plans, insurance companies, endowments, foundations, and religious institutions. Institutional assets make up over 75% of Victory Capital’s total assets under management. Other institutional investment managers in Cleveland include Clearstead Advisors and Commerce Asset Management.
History of Banking and Financial Services
Cleveland has a long tradition as a banking and financial hub dating back to the 19th century. Many of the city’s venerable banks evolved into investment management firms. For example, National City Bank established an investment management division in the 1930s which later became part of Victory Capital.
Other leading investment firms like McCarthy Asset Management trace their roots to accounting firms and wealth advisors that served Cleveland’s major industrial corporations and prosperous families. This heritage helps explain the city’s deep pool of financial talent and expertise today.
Cleveland is home to a diverse array of leading investment management firms offering personalized services and specialized expertise. From large global players like Victory Capital to boutique wealth advisors like DiGeronimo Asset Management, Cleveland investment managers share a relationship-based approach and focus on customized portfolios to meet client objectives.