Spero-Smith Investment Advisers – Overview/Reviews
Spero-Smith Investment Advisers is an SEC-registered, independent, fee-only, financial planning and investment advisory company that offers its clients, primarily high-net-worth individuals, business owners, foundations, and endowments, a comprehensive set of financial planning, asset management, and wealth management services.
The company was founded in 1972, under the name of Spero Financial Services, Inc., by female business owner Karen Spero, with the belief that a combination of sound financial planning and savvy investment management ultimately produced far superior results than when these two services were delivered separately.
With Ms. Spero’s focus primarily on the needs of individual investors and business owners, the company continued to thrive, becoming one of the most prominent investment advisory firms owned and led by a woman.
The company was formed into a corporate entity, on January 24, 1984, and became a Registered Investment Adviser (RIA) three months later, in April of 1984.
In 1993, Robert C. Smith, who is the firm’s current principal owner, joined the company, strengthening the team’s asset and wealth management capabilities. Mr. Smith, who now holds the title of chairman and CEO, assumed the role of president and CEO back then, and the company was renamed as Spero-Smith Investment Advisers, Inc. Ms. Spero is currently the chairman emeritus and continues to actively advise the firm.
The company’s advisors act as fiduciaries when discharging their obligations to clients. This means that clients have peace of mind in knowing that the recommendations made and counsel offered is sound, cost-effective, and without conflicts of interest.
Spero-Smith Investment Advisers – Recognitions and Accolades
Founder Karen Spero has been named as one of the 250 best financial planners in the country, for several consecutive years, by Worth magazine. She is also the recipient of the 2009 “Lifetime Achievement Award” from the Northeast Ohio Chapter of the Financial Planning Association, recognizing her 25+ years of exemplified service to the financial planning profession.
Chairman and CEO Bob Smith also has many awards and honors to his credit. On November 8, 2012, he was inducted into the Northeast Ohio Business Hall of Fame. The Ohio Northern University’s Dicke College of Business also awarded him the Pinnacle Award. Together with his wife, he was chosen as “2012 Persons of the Year” by the Christ Child Society. He also made the “Who’s Who” list of important people to know in Cleveland for 2011-2014 as well as many additional awards.
Over the years, the firm, as well as many of its other executives and advisors individually, has earned numerous awards, accolades, and acknowledgements for its exemplary accomplishments in the industry and service to its clients.
Images: sperosmith.com
Spero-Smith Investment Advisers Service – Offerings and Approach
Since 1972, Spero-Smith Investment Advisers has been offering a broad range of services to its clients in the financial planning, wealth management, asset management, retirement plan management, and consulting arena.
The fee-only services offered by the company are delivered as fiduciaries to its clients. This means that the company is held accountable against a higher standard – the fiduciary standard – than fee-based advisors, who are held to the lower suitability standard. Advisors delivering services to clients of the company are, therefore, professionally and legally bound to keep a client’s interest in sight at all times.
The company’s investment management services follow a well-defined and clearly articulated process that is designed to help clients succeed. The 4-step process is tailored to meet each client’s unique investment objectives, based on his/her stage in life, income requirements, risk appetite, and several other important factors.
Since Spero-Smith Investment Advisers doesn’t have brokers or sellers of any particular investment products, the company’s advisors are in an ideal position to offer independent, unbiased, conflict of interest-free recommendations on a broad universe of solutions that meet a particular client’s objectives.
Using this customized approach to financial planning and investment management, the firm delivers personalized financial planning solutions that not only meet its clients’ immediate financial needs but also serve to accomplish their long-term goals and objectives.
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What We Like About Spero-Smith Investment Advisers
Experienced Team
Having been in business for over 40 years, the Spero-Smith Investment Advisers team consists of individual professionals who, collectively, have over 125 years of financial planning and investment advisory experience.
Qualified and Certified
Members of the team hold highly regarded industry credentials and qualifications. The team comprises Certified Financial Planner™ (CFP®) professionals, Chartered Financial Analyst® charter holders, and members of the National Association of Personal Financial Advisors (NAPFA), the CFA Institute, the CFA Society of Cleveland, and the Financial Planning Association (FPA).
Independent, Unbiased Advice
As a fee-only RIA, the company acts as a fiduciary to its clients, ensuring that clients receive unbiased, independent, and conflict of interest-free advice and recommendations at all times.
Highly Acclaimed and Regarded Team
Collectively as a firm and separately as individual professionals, the firm has been recognized through numerous awards and accolades from many well-regarded industry sources. These awards recognize the firm’s commitment to service excellence and its contribution to the financial advisory profession.
Formal Investment Process
When building individualized investment and wealth management strategies for its clients, the company follows a well-defined 4-step process that clearly outlines clients’ goals, objectives, and designs; implements customized plans to meet those objectives; and continuously monitors and proactively adjusts those plans as determined by changing circumstances – both by clients and the external environment.
Spero-Smith Investment Advisers Review – Team Members
Collectively, the Spero-Smith Investment Advisers team brings over 125 years of professional experience to the table when advising its clients. Five of the team’s members are CFPs, five are holders of MBA degrees, two are CFAs, and one holds a PhD.
Some of the credentials, certifications, designations, accreditations, and associations that the team holds includes AIFA, BA, MBA, CFA, CFP®, NAPFA, FPA, PhD, AEP®, EPCC, and SFSP, among many others.
- Robert C. Smith
- Jeffrey N. Malbasa
- Mimi Lord
- Matthew S. Olver
- Stephen A. Malbasa
- Aneet P. Deshpande
- …and more
Spero-Smith Investment Advisers Fees
Spero-Smith Investment Advisers Reviews – Services
Spero-Smith Investment Advisers delivers specialized services to individuals, business owners, and institutional investors. Specific services offered include:
FOR INDIVIDUAL INVESTORS AND FAMILIES:
- Asset management services
- Wealth management services
- Financial planning services
FOR BUSINESS OWNERS:
- Wealth management
- Asset management
- Financial planning
- Employee benefits and retirement planning
- Stock options and restricted stock analysis
- Executive compensation
- Qualified plans (e.g., 401(k) & 403(b) plans)
- Non-qualified plans (i.e., deferred compensation)
- Business consulting
- Business valuation
- Business transition planning
FOR INSTITUTIONAL INVESTORS:
- Advising and serving on non-profit boards
- Customized investment plans
Spero-Smith Investment Advisers Address Information (Local Office):
- Terminal Tower, 50 Public Square, Suite 2700, Cleveland, Ohio 44113
To Contact Spero-Smith Investment Advisers:
- Tel: (216) 464-6266; (800) 794-7545
- Email: [email protected]
- Or use Spero-Smith Investment Advisors’ Information Request form
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