Wellspring Financial Advisors

Overview

Wellspring Family Office serves families across their financial and personal lives, connecting wealth management with planning, governance, education, and family wellbeing. The firm says it supports clients and communities through an integrated relationship designed around the family.¹

History

The firm says it has supported clients and communities since 2007. Formerly known as Wellspring Financial Advisors, it focuses on helping ultra-high-net-worth families manage their financial lives, legacy, and personal fulfillment.¹

The SEC lists Wellspring Financial Advisors, LLC, doing business as Wellspring Family Office, as an SEC-registered investment adviser, with registration effective March 15, 2007.²

Leadership

Michael Novak, CPA/PFS, AEP®, is Founder & CEO. Jeff Kadlic is President & Chief Operating Officer. Rich Turgeon, CFA®, CAIA®, MSFS®, is Chief Investment Officer and Senior Managing Director.³

Jenna Staton, CFP®, EA, and Germaine Martin are Senior Wealth Advisors and Senior Managing Directors. Katie Madzsar, CFP®, AEP®, and Bill Ambrogio, CFP®, are Senior Wealth Advisors and Managing Directors.³

Laura Capuozzo, FPQP®, is Head of Operations and Managing Director, while A’Shira Nelson, CPA, is Quality Assurance & Training Director.³

Services

Wellspring provides wealth and tax planning, investment management, family governance and education, and Be Well Solutions, which focuses on family health and wellbeing.⁴

The firm works with families on investment, tax, estate, succession, risk-management, trust, charitable-entity, concentrated-stock, liquidity-event, and multigenerational wealth-transfer matters.⁴

Its Chief Family Advisor serves as a consistent point of connection and coordinates with attorneys, accountants, trustees, and other professional advisors.⁴

The firm’s SEC relationship summary describes customized investment advisory services for retail investors, including ultra-high-net-worth investors, together with tax preparation and compliance, comprehensive financial and estate planning, business succession, and risk management services.⁵

Wellspring advises on equities, fixed income, mutual funds, ETFs, options, alternatives, and similar investments through discretionary and nondiscretionary arrangements.⁵

What the firm offers

• Investment management
• Tax planning
• Estate planning
• Trust and fiduciary
• Philanthropy
• Family governance and education
• Risk and insurance
• Business owner services
• Private and alternative investments

Client Focus

Wellspring focuses on ultra-high-net-worth families, including families managing multigenerational wealth, complex estates, business interests, concentrated positions, charitable entities, and liquidity events. The firm reports that 80% of its families are multigenerational and that its client retention rate is 98%.⁶

Approach

Wellspring states that its philosophy places the family at the center of advice. The firm coordinates financial, personal, and overall wellbeing needs through one relationship, aiming to connect planning and investment decisions with each family’s broader priorities.⁴

Assets and Minimums

Wellspring reports $7 billion in net worth under management.⁶

The firm generally requires a minimum net worth of $25 million for investment advisory services, although it says that requirement may be waived.⁵

Wellspring calculates advisory fees as a percentage of assets under supervision and converts them to a fixed fee for approximately two years before reevaluation.⁵

By the numbers

FAQs

Related resources

• LocationMultifamily offices in Cleveland

  This page helps Cleveland area families compare multi-family office options by service focus and client fit. It gives a reader considering Wellspring Family Office a regional starting point for reviewing investment management, tax planning, governance, philanthropy, and support for business owners alongside broader family needs.

• Network siteEstatePlanner.com

  EstatePlanner.com offers practical guides on wills, trusts, and estate planning concepts. A family considering Wellspring Family Office can use these materials to prepare questions about legacy planning, fiduciary arrangements, wealth transfer, and how estate decisions may connect with tax planning and family governance.

• Network siteFamilyOffices.com

  FamilyOffices.com provides educational resources and community perspectives for wealthy families and single family offices. Readers can use it to understand common family office responsibilities, compare approaches to investment oversight and education, and clarify which needs may call for a multi-family office relationship.

• GuideMultifamily office fees

  This guide explains how multi-family office fees may be structured and what services can affect overall costs. Families considering Wellspring Family Office can use it to frame questions about investment management, fiduciary work, planning, reporting, private investments, and the relationship between fees and requested services.

• Similar firmsCM Wealth Advisors LLC
  Harvest Financial Advisors
  Oberlin Wealth Partners

  These profiles offer nearby points of comparison for a family or business owner reviewing advisory options. Looking at CM Wealth Advisors LLC, Harvest Financial Advisors, and Oberlin Wealth Partners can help readers organize questions about investment management, planning, risk, business owner services, and support for family priorities.

Sources

1. Wellspring Family Office, Who We Are
2. SEC Investment Adviser Public Disclosure, Wellspring Financial Advisors, LLC
3. Wellspring Family Office, Our Team
4. Wellspring Family Office, What We Do
5. Wellspring Financial Advisors, LLC Form CRS
6. Wellspring Family Office

Claim or correct this profile

This profile is a factual summary written in our own words from public sources. It is for information only. It is not an endorsement, rating, ranking or recommendation, and it is not investment advice. MultiFamilyOffices.com is not affiliated with the SEC or with this firm unless stated. Form ADV figures are self-reported by the firm.