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Fairport Asset Management
Fairport Asset Management opened its doors in Cleveland in 1963, launched as a boutique wealth advisory firm serving the manufacturing and industrial fortunes...
Fairport Asset Management
Fairport Asset Management opened its doors in Cleveland in 1963, launched as a boutique wealth advisory firm serving the manufacturing and industrial fortunes concentrated along the Great Lakes. Managing Partner Heather Ettinger and Chairman Kenneth Coleman lead the practice today, with Ettinger having become one of the more recognized female principals in Midwestern wealth management. The firm constructs custom portfolios spanning equities, fixed income, and alternative investments, with an emphasis on direct indexing and tax-aware asset location for taxable households. Its client base draws heavily from Ohio and contiguous states, including Michigan and Pennsylvania, where it advises on concentrated stock positions, intergenerational transfers, and liquidity events from closely held businesses. Fairport has long embedded philanthropic advisory as a core competency rather than a secondary service, guiding families through the creation of donor-advised funds and private foundations that sit adjacent to their investment accounts. In August 2023, Fairport announced a merger with Cedar Brook Group, a Pepper Pike-based wealth manager, broadening its footprint across Northeast Ohio and adding depth to its retirement plan consulting practice (per the firm's official communications, August 2023). The firm remains an employee-owned partnership without a parent bank or insurance company — a structural differentiator in a consolidating RIA landscape. That independence allows it to act as a fiduciary on all client accounts, a posture few Midwestern wealth managers of its vintage maintained through the roll-up era that absorbed many of its early peers.
General information
Firm type
Bank / Wealth / Trust
Year founded
1963
AUM
Undisclosed
Location
Region
North America
Country
United States
City
Fairfield
Corporate office
Cleveland, OH, United States
Principals
Kenneth Coleman
Chairman
Heather Ettinger
Managing Partner
Sector focus
Frequently asked questions
Who runs investment strategy at Fairport Asset Management?
Managing Partner Heather Ettinger and Chairman Kenneth Coleman oversee the firm's investment approach. Fairport builds custom portfolios allocating across equities, fixed income, and alternative investments, with a particular focus on direct indexing and tax-sensitive strategies for high-net-worth taxable accounts. Specific portfolio manager names beyond the senior leadership are not publicly disclosed.
How does Fairport Asset Management source clients?
The firm derives most of its client relationships from referrals within the Midwest, particularly in Ohio, Michigan, and Pennsylvania. Its multi-generational orientation means many client relationships span two to three generations of the same family, with business owners and corporate executives forming the core client base.
Does Fairport operate as an independent firm or part of a larger institution?
Fairport remains an independent, employee-owned partnership. Unlike many wealth managers founded in the 1960s, it did not become a unit of a bank or insurance conglomerate. The firm operates as a fiduciary on all client accounts and merged with Cedar Brook Group in August 2023 while retaining its independent partnership structure.
What role does philanthropic planning play in Fairport's service model?
Philanthropic advisory is a core service line, not a secondary offering. Fairport guides families through the creation and governance of donor-advised funds and private foundations. The firm views charitable planning as an integrated component of wealth transfer, particularly for clients managing concentrated stock positions where donation strategies can offset tax liabilities.
What is Fairport's known posture on alternative investments?
Fairport includes alternative investments within client portfolios but does not operate as an alternatives-first allocator. The firm constructs portfolios that blend traditional equity and fixed income exposure with select alternative allocations, emphasizing tax efficiency and liquidity management appropriate for families rather than institutional portfolios.
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