Truepoint Wealth Counsel – Overview/Reviews
Truepoint Wealth Counsel was founded in 1990 when “fee-only” financial advisory was still a novel idea. In fact, the company takes pride in the fact that, at its inception, it was one of the first fee-only firms operating in the greater Cincinnati area.
The firm has always been a strong proponent of transparency and was elected to comply with the Global Investment Performance Standards (GIPS) in 2001 – shortly after they were endorsed. The practitioner-driven GIPS is a set of ethical guidelines and a standardized, industry-wide approach to calculating and disclosing investment results.
Since those early days, Truepoint Wealth Counsel has grown significantly, managing over $2 billion in client assets across 30 states nationwide and several countries abroad. As a truly local, regional, national, and global company, nearly 35% of the company’s clients are from outside of Ohio.
A firm believer in building truly personalized and lasting relationships with its clients, the company consistently enjoys exceptionally high client satisfaction rates – which is indicative of how comfortable long-standing clients feel about their continued association with the firm.
Leading industry media and publications, such as Barron’s, Worth, and The Financial Times, have consistently ranked the company as one of the top advisory firms in the country.
Service Offerings and Approach
The company delivers a full range of wealth management services and solutions to its clients, all of which are uniquely customized to meet the personal needs of the client.
Advisory services are delivered using an integrated services approach, taking a holistic view of every aspect of clients’ finances. Individualized plans and strategies are prepared, taking into account a broad array of client-specific factors including lifestyles, risk profiles, investment time horizons, and investment preferences.
Individuals and clients with over $2 million in investable assets can opt for the company’s True Wealth Management service, while a foundational wealth management service is also available for clients with under $2 million in assets.
Individuals and families with $20 million or more in assets can also opt for the company’s family services solutions. In addition, the firm also provides institutional services to pension plans and other investment plan fiduciaries.
Steve Condon, CFA of Truepoint Wealth Counsel
Each client engagement is characterized by personalized service, an integrated planning approach, and a disciplined investment approach that takes a long-term perspective. Compared to most other industry peers, the company also has a simple and fair fee structure that makes it easy for clients to understand the value-for-money proposition that the firm’s advisors offer.
One of the hallmarks of the company is its determination to inject a “personal touch” into each client engagement. This unique ability has resulted in building long-term client relationships, with the company consistently receiving extremely high client satisfaction ratings.
The firm’s approach to transparency is another hallmark of its service delivery process. Being compliant with Global Investment Performance Standards (GIPS) since 2001, the firm openly publishes all facts about its investment policy, fees, and even client portfolio performance and returns.
What We Like About Truepoint Wealth Counsel
Pioneers of the Fee-Only Advisor Model
The company was established by Michael J. Chasnoff, in 1990, and was one of the first wealth management firms in the greater Cincinnati area to embrace the fee-only advisory model.
Integrated Team Approach
Thanks to a diverse and highly experienced in-house team of experts, the company is able to offer a broad array of integrated services using a holistic investment planning and wealth management approach.
As a long-serving member of Global Investment Performance Standards (GIPS), the company is committed to being fully transparent with its clients. Information about the firm’s investment philosophy, its process, performance data for clients’ portfolios, and its fee structure are all freely available for clients, prospective clients, and industry peers to view.
Serious About Client Privacy
The company takes client privacy very seriously and uses security measures that comply with federal laws, including strong computer safeguards, highly secure electronic data storage, and physical access controls.
As a 100% employee-owned company, the firm’s advisors are fully vested in ensuring the company’s success – which in turn ensures that the firm’s staff is also fully committed to ensuring the success of their clients.
Widespread Client Presence
Truepoint Wealth Counsel is not just a local (Ohio-based) wealth advisory firm but a regional, national, and internal advisory company. It has clients in 38 states across the country and also serves clients in 3 countries outside the USA. In fact, nearly 35% of its clients are from outside the state of Ohio.
High Client Satisfaction/Retention
The firm’s commitment to transparency, its belief in establishing long-term relationships, and its determination to deliver highly personalized services has resulted in it receiving consistently high client satisfaction rates.
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Truepoint Wealth Counsel Review – Team Members
The in-house Truepoint advisory teams are lead by seasoned specialists that have a wealth of knowledge and experience across a broad spectrum of disciplines including financial planning, investment management, wealth management, estate planning, tax management, and risk management.
Advisors hold an array of industry-respected designations, certifications, and professional credentials, including CFP® (18 advisors), CPA (11), CTFA (2), CFA (6), CAIA (1), and master’s degrees (14).
- Michael J. Chasnoff
- Steve Condon
- Janel Carroll Walker
- Scott Barbee
- Thomas E. Bentley
- Christine L. Carleton
- …and more
Image Source: Truepoint Wealth Management
Truepoint Wealth Counsel Reviews – Services
Specific services offered by the Truepoint Wealth Counsel team include::
(1) WEALTH MANAGEMENT
The firm provides two levels of wealth management services to its clients.
(A) True Wealth Management – offered to clients with $2+ million in investable assets and includes:
- Investment portfolio design, tax-efficient management, and reporting
- Comprehensive financial planning analysis and strategy
- Budgeting and cash flow planning
- Strategic income tax planning and preparation
- Estate planning strategy, architecture, document review, and monitoring
- Insurance needs analysis, policy review, and coverage design
- Coordinated personal action plan
(B) A foundational wealth management service for individuals and families with under $2 million in investable assets
(2) FAMILY OFFICE SOLUTIONS: Delivers comprehensive wealth management assistance to families with $20+ million in assets and also offers additional support including services such as:
- Generational planning and family governance
- Trust administration
- External account aggregation
- Bill paying, expense management, and reporting
(3) INSTITUTIONAL SERVICES (Offered to retirement plans, foundations, and endowments through Truepoint Institutional Advisors):
- Establishing appropriate asset allocation and portfolio structure
- Development of investment policy statement (IPS)
- Ongoing monitoring and real-time portfolio rebalancing
- Portfolio benchmarking and clear performance reporting
Truepoint Wealth Counsel Address Information (Local Office):
- 4901 Hunt Road, Suite 200, Cincinnati, OH 45242
To Contact Truepoint Wealth Counsel:
- Tel: 513.792.6648
* Images used on this review are sourced from: http://truepointwealth.com/
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