Fairport, LLC (Cleveland)

Name: Fairport, LLC
Address: 1350 Euclid Avenue, Cleveland, OH, 44115 1833
Telephone: 216-431-3000

Fairport, LLC is a large advisory firm based in Cleveland. It manages $1.69 billion of regulatory assets for 2,019 client accounts. It has been registered with the SEC as an adviser since 2019 and has operated in the jurisdictions of California, Florida, Georgia, and 10 other states.

Fairport provides financial planning services, portfolio management for individuals and small businesses, portfolio management for businesses and institutional clients, pension consulting services, and selection of other advisers. It prepares financial plans for more than 250 clients. On top of advisory services, the firm doesn't engage in other business activities.

Fairport: assets under management

The assets under management (AUM) of Fairport, LLC is $1.69 billion. The company doesn't manage any assets belonging to foreign clients.

The firm manages $1.31 billion in discretionary accounts and $379.52 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $737.31 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $1.57 million.

Fairport has custody of $41.07 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 72% of the total AUM. The second-largest asset type is non-exchange traded securities, which make up 14% of the firm’s portfolio. Investments in state and local bonds form 7% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Fairport, 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 Fairport serves?

The firm provides services to individuals and high net worth individuals. The largest group of clients of Fairport is high net worth individuals with 363 clients and $1.57 billion of assets under management. Among the 10 most similar advisory firms, Fairport has the 2nd highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $1.69 billion for 674 clients that can include trusts, estates, and 401(k) plans and IRAs of individuals and their family members. 100% of the firm’s clients are foreign persons or businesses.

Fairport doesn't advise any private funds.

Careers at Fairport, LLC

The company employs 31 people that are either part- or full-time employees. 16 percent of the employees work as investment advisers or researchers. 7 employees are registered as investment adviser representatives with the state securities authorities.

There are 2 people with the role of looking for and bringing in new clients on behalf of the firm. The firm doesn’t compensate employees in addition to the salary for bringing in new clients. Employees don’t receive compensation from other entities for client referrals.

Based in Cleveland

The principal office where Fairport, LLC performs its advisory services is located at 1350 Euclid Avenue, Cleveland, OH 44115 1833, 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 216-431-3000 or by fax 216-431-4057. The normal business hours are 8:00 am to 5:00 pm on Monday - Friday. You can find more information about the New York firm at fairportasset.com.