Find Your Balance

Between Your Goals & Financial Means

Fee-Only Wealth Management In Ames & Central Iowa

Marrs Wealth Management is an Independent, fee-only and Registered Investment Adviser in Ames & Central Iowa. As a Fiduciary, our entire focus is on developing and managing a comprehensive financial strategy that meets your unique needs.  

Find Your Balance Between Your Goals & Financial Means

At Marrs Wealth Management, we understand the need to balance your current obligations with your future expectations, and we'll help you develop a plan to achieve that balance. With deep roots in this community, we enjoy working with Central Iowans who appreciate our long-term approach focusing on their goals. 

 

 

Our Firm

Named one of the top 9 Financial Advisors in Iowa by AdvisoryHQ

Marrs Wealth Management, LLC was recognized for the second time in AdvisoryHQ’s 2017 Ranking of the Top Financial Advisors in Iowa. The firm was 1 of only 9 firms in the entire state of Iowa to be honored, and was the only firm in Ames with this award. The listing is designed to provide objective, comprehensive research to help the everyday consumer make informed financial decisions. All research performed is done from the consumer’s perspective.

In its review, AdvisoryHQ cited Marrs Wealth Management’s website: “Independence is its Own Reward: Marrs Wealth Management is an independent, fee-only Registered Investment Advisor (RIA) and fiduciary. There are no shareholders calling the shots and no incentives that interfere with your best interest. As such, you remain their only concern.”

 

 

Since 2010, Marrs Wealth Management has been serving Ames, Iowa and the surrounding community with tailored financial advice. As opposed to offering products, Marrs Wealth Management has built the practice on offering clients practical advice and guidance towards financial independence.  

WHERE IT ALL BEGAN

In 1985, Craig Marrs began his career as a personal financial professional. Craig has always been committed to providing objective, independent advice that is always in the best interest of his clients.

Over the years, Craig grew the practice through referrals from loyal and trusting clients. Marrs Wealth Management’s vision is to be the foremost trusted and knowledgeable wealth management provider in Central Iowa, and that vision guides all that the firm does. 

A HISTORIC BUILDING IN AMES, IOWA

The building and office location of Marrs Wealth Management is historic. In 1938, the building was established as The “McFarland Medical Building”, where it served as a center for thriving medical practices. Almost 50 years later, it was purchased by the City of Ames due to foreclosure.  The Partnership Press Inc., former owner of Ames Tribune, purchased the building to serve as their corporate headquarters. In 2012, Marrs Wealth Management acquired the building from Ames Tribune.  Craig is committed to the historic preservation of downtown Ames and has been recognized for his efforts.  

Our Team


Craig Marrs CFP®, CIMA®, AIF®

Principal

Nathan Brammer MBA, CIMA®, AIF®

Principal

Andra Reason CPA, CFP®

Principal

Stacie Hostetler

Administrative Assistant

Kent Frankenfeld

Director of Operations

Fiduciary Standard and Services


Best Practices: A Professional Code of Conduct

September 13, 2016

 

The Institute for the Fiduciary Standard’s Best Practices, a professional code of conduct for fiduciary advisors, outlines what advisors agree to do for clients. Here, each Best Practice is listed and the requirements of each practice is put in italics below it. These are the specific actions that aim to uphold a high standard. A firm subscribing to Best Practices affirms with these actions, that:   

 

1.  Affirm the fiduciary standard under the Advisers Act of 1940, common law and, if applicable, ERISA and DOL’s COI Rule, govern all professional advisory client relationships at all times.

Fiduciary status, as required in law, applies at all times in all client engagements and this affirmation is stated in writing 

2.  Establish and document a “reasonable basis” for advice in the best interest of the client.

Advice is given on a “reasonable basis” and a summary of this “reasonable basis” will be provided by your advisor in writing upon request.  

3.  Communicate clearly and truthfully, both orally and in writing.  Do not mislead.  Make all disclosures and important agreements in writing.

Al important client agreements and disclosures are put in writing and that no written or verbal statements are misleading 

4.  Provide a written statement of total fees and underlying investment expenses paid by the client. Include any payments to the advisor or the firm or related parties from any third party resulting from the advisor’s recommendations. 

Your advisor provides a good faith estimate of fees and expenses in writing during the starting phase of the engagement when the investment policy is agreed to. Thereafter, your advisor will offer to all clients and will provide, upon request, an annual good faith estimate in writing of total fees and expenses incurred by each client and paid to the firm or related parties because of my advice. 

5.  Avoid conflicts and potential conflicts. Disclose all unavoidable potential and actual conflicts. Manage or mitigate material conflicts. Acknowledge that material conflicts of interest are incompatible with objective advice.

Your advisor seeks to avoid conflicts of interest. For unavoidable conflicts, your advisor 1) affirmatively discloses the conflict with ‘sufficiently specific facts’ to allow client understanding, and 2) manages the conflict to preserve the clients best interests. For material conflicts your advisor 3) obtains informed written client consent. Also, 4) your advisor affirms the transaction remains consistent with the client’s best interests. Further, he or she provides clients and prospective clients a written description of conflicts and steps to manage them.     

6.  Abstain from principal trading unless a client initiates an order to purchase the security on an unsolicited basis.

Your advisor abstains from principal trading – unless specifically requested by a client without your advisor’s urgings.

7.  Avoid compensation in association with client transactions. If such compensation is unavoidable, demonstrate how the conflict is managed and overcome and the product recommendation and compensation serves the client’s best interest.

Your advisor does not receive compensation in association with a client transaction. 

8.  Avoid gifts or entertainment that are not minimal and not occasional. Avoid third party payments, “benefits” and indirect payments that do not generally benefit the firm’s clients and may reasonably be perceived to impair objectivity.

Gifts and entertainment received are minimal and occasional. Any third party compensation or benefits received by the firm generally benefit the firm’s clients and do not impair my objectivity.

9.  Ensure baseline knowledge, competence and ongoing education appropriate for the engagement.

Your advisor’s education, professional certifications and ongoing education are appropriate for client engagements, and, at minimum, include an undergraduate degree and either a relevant post graduate education or a specialized designation or certification requiring significant additional education.  

10.  Institute an investment policy statement (IPS) or an investment policy process (IPP) that is appropriate to the engagement and describes the investment strategy. Have access to a representative universe of investment vehicles that provide ample options to meet the desired asset allocation in consideration of generally accepted criteria.

An investment policy statement or investment policy is developed and furnished in writing to each client, and a sample copy of each document is available on request to any prospective client. 

11.  Consider peer group rankings or apply specific procedures in ensuring underlying investment expenses are reasonable.

Your advisor benchmarks the fees and costs clients incur with reliable services or surveys other resources and / or has procedures to determine that client expenses are reasonable. 

12.  The advisor affirms in writing adherence to Best Practices, and attains written affirmation from the firm that these business practices may be met by the advisor.

Adherence to Best Practices and that no firm policy interferes with your advisor’s adherence.  


Wealth Management

Investment Management

Our investment management is combined with our personal service. We customize investment portfolios in an effort to maximize your risk-adjusted returns after taxes, inflation and fees. Through substantial investments in both in-house and third party research, you have access to investment opportunities across traditional and alternative asset classes.

Each of our investment recommendations is customized to meet your specific circumstances, and you will always know how your portfolio is performing through regular reporting. As fiduciaries, we are responsible for protecting our clients’ best interests - and as such we do not operate as traditional stockbrokers.

We also offer discounts for non-profits for endowment management.

Tax planning

Proactive tax planning helps recover what is owed to you. Obtaining your maximum refund is our primary objective. That is why our tax planning is tailored to each individual. We incorporate a strategic tax plan which is applied throughout the year and engages all areas of your finances. That is just one of the benefits to having a comprehensive financial planner.

Debt reduction

At Marrs Wealth Management, we understand that a debt can be a heavy burden to carry. That is why we not only help you invest for the future, but we incorporate money management strategies that will help you to manage and reduce your debt. Debt reduction is available to clients through a variety of resolutions and rectifications. With an analysis of your current financial situation, we can find out if you qualify.

Retirement planning

You only get one retirement - make it a great one! We can help you plan for your ideal retirement by focusing on the areas that are most important to you, and making them a priority. We help you identify and prioritize your long-term goals by creating a vision for your future, lifestyle, where you’ll live, and how much it will cost. Our goal is to help you make the best decisions to achieve your long-term expectations, whatever they may be.

Estate planning

We offer succession plans to protect your heirs. This is provided through a review of your existing estate planning documents or recommend that you obtain the appropriate estate plan documents for your current situation from an attorney. Developing an estate plan can create significant savings to survivors, in time and money, by avoiding the costly probate process and minimizing estate taxes. By establishing a sound estate plan, you'll have peace of mind that your heirs will not have difficult financial decisions to make.

Insurance analysis

As you bounce from different stages of your life, your insurance needs follow close behind. That term-life policy you needed when your kids were young may not cover you and your spouse’s current income needs. Through a series of “what-if” scenarios, we can help you determine:

  • What kind of coverage you need and for how long.
  • If you are paying for insurance that you no longer need.
  • How to select the right policy from the right insurance companies.

 

Client Center

 

Videos

Click the picture to start the video.

 

How Much Income Do You Need in Retirement?

How much retirement income is enough?  In this video, Marlena Lee, PhD, explains that the answer should be customized for each individual, based on their lifestyle and their income prior to retirement.

 

How Much Should You Save for Retirement?

How much should you be saving for retirement?  Massi De Santis, PhD, explains that the answer should be customized for each individual, based on how their income grows prior to retirement.

Contact


Address

313 Fifth Street Suite 101
Ames, IA 50010

Email

info@marrswealthmanagement.com

Phone

515-233-0307

Fax

515-233-0308