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Altus Wealth Management Review

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Altus Wealth Management

With $134 million in assets under management (AUM) and three advisors on staff, Altus Wealth Management, LLC is a relatively small financial advisor operation. The firm utilizes a fee-only fee schedule, meaning all of its compensation comes from client charges rather than outside commissions. The three pillars of Altus’ business are financial planning, wealth management and investment management.

Altus Wealth Management Background

Altus Wealth Management has been in business since 2010. The firm is run by a trio of managing partners: Steve O’Connor, Andrew Hermes and Bill Doepker. As a group, O’Connor, Hermes and Doepker have spent nearly 60 years working in the investing sphere.

All three members of Altus’ advisory staff hold a certified financial planner (CFP) designation. Aside from this, Doepker is a chartered advisor for senior living (CASL).

What Types of Clients Does Altus Wealth Management Accept?

Individuals and high-net-worth individuals make up the vast majority of the client base at Altus Wealth Management. The firm also works with trusts, charitable organizations and small businesses.

Altus Wealth Management Minimum Account Size

There are no minimum investment requirements for new clients of Altus Wealth Management.

Services Offered by Altus Wealth Management

Financial planning, wealth management and investment management are the central services available at Altus Wealth Management. This list details exactly what you can expect:

  • Financial planning
    • Retirement planning
      • Asset accumulation
      • Income planning
    • Investment planning
    • Tax planning
    • Education planning
    • Cash flow analysis
    • Estate planning
    • Stock option planning
    • 401(k) planning
    • Insurance planning
    • Charitable gift planning
    • Executive compensation
  • Investment management
    • Strategic investment selection
    • Asset allocation planning
    • Portfolio diversification
    • Bond ladder construction
  • Wealth management
    • A holistic merger between financial planning and investment management

Altus Wealth Management Investment Philosophy

Altus Wealth Management combines two major investing ideologies when forming its clients’ portfolios: modern portfolio theory (MPT) and tactical asset allocation. MPT is an award-winning philosophy that looks to place investments throughout markets in a strategic fashion. This diversification applies to both the types of investments that are chosen (stocks, bonds, mutual funds etc.) and the specific securities within their markets.

Tactical asset allocation is an active management strategy that looks to take advantage of market trends. At the same time, though, Altus is a passive investor. In turn, its advisors prefer to hold securities within a portfolio for a year or longer. However, should the market shift, your advisor may temporarily abandon this guideline for the benefit of your overall returns.

Fees Under Altus Wealth Management

The services you want combined with the size of your account will dictate what your fee schedule will be. If you want standard wealth management services and your account has $300,000 or less in AUM, you will adhere to the first table below. Should your portfolio stretch past the $300,000 threshold though, the second table will apply. Finally, clients who subscribe to Altus’ fixed income portfolio service and have more than $300,000 in AUM will stick to the final table.

Fees for Altus Select (Accounts with $300,000 or less in AUM)
Assets Under Management Annual Fee
Up to $300,000 0.95%

 

Fees for Altus Premier (Accounts with more than $300,000 in AUM)
Assets Under Management Annual Fee
$300,001 - $500,000 0.95%
$500,001 - $1,000,000 0.90%
$1,000,001 - $2,000,000 0.80%
$2,000,001 - $3,000,000 0.70%
$3,000,001 - $5,000,000 0.60%
Over $5,000,000 negotiable

 

Fees for Altus Preservation (Fixed Income Portfolio)
Assets Under Management Annual Fee
$300,000 - $1,000,000 0.375%
$1,000,001 - $3,000,000 0.25%
Over $3,000,000 negotiable

Although Altus shows its fees in annual percentages, clients are technically charged every quarter. Fees are in arrears and are based on the average daily balance of the total net assets in your account. The firm allows you to pay via fee withdrawals from your account or paper/online invoices.

Check out the table below to see how Altus’ fees for its management services compare to those at similar financial advisor firms. Note that these fees are only estimates and actual costs may vary.

*Fee estimates only consider the maximum base fees for the services each firm provides. You may also pay manager fees and other fees, which can vary in amount. **All figures are based on median fee levels according to Bob Veres' 2017 Planning Profession Fee Survey. The above estimates solely take into account AUM-only fees. Total costs will likely be higher due to additional expenses.
Estimated Fee Comparison*
Your Assets Altus Wealth Management “Altus Premier” Fees National Median Advisory Fees**
$500K $4,750 $5,000
$1MM $9,000 $8,500 - $10,000
$5MM $30,000 $25,000 - $32,500
$10MM negotiable $50,000

What to Watch Out For

On occasion, employees of Altus Wealth Management may buy or sell securities that they also recommend for clients. While this could represent a conflict of interest, the firm has taken adequate steps to ensure that this is avoided. In fact, the firm has a code of ethics that every employee must follow when buying or selling a security that Altus recommends. Clients can gain access to a copy of this code by simply entering a written request. On top of this, the firm is a fiduciary, meaning it must always act in clients’ best interests.

Disclosures

According to its SEC-filed paperwork, Altus Wealth Management has no legal or regulatory disclosures in its past.

Opening an Account With Altus Wealth Management

If you want to schedule a consultation with Altus Wealth Management, you can either call (859) 815-8566 or email one of its advisors at the following addresses:

  • Steve O’Connor: steve.oconnor@altuswm.com
  • Andrew Hermes: andrew.hermes@altuswm.com
  • Bill Doepker: bill.doepker@altuswm.com

Where Is Altus Wealth Management Located?

You can find Altus Wealth Management in Fort Mitchell, Kentucky at 2500 Chamber Center Drive, Suite 202. The firm’s entrance is located on the west side of the building. If you need directions, you can download them from Altus’ website.

Tips for Building a Portfolio

  • If you feel as though you’re not taking full advantage of your investments, maybe it’s time to get some professional help from a financial advisor. Finding the right financial advisor that fits your needs doesn’t have to be hard. SmartAsset’s free tool matches you with financial advisors in your area in 5 minutes. If you’re ready to be matched with local advisors that will help you achieve your financial goals, get started now.
  • Risk tolerance is a major factor in the planning of any investment portfolio, but the term is a bit abstract. Asset allocation is essentially the real world incarnation of risk tolerance, as it dictates how your portfolio should be constructed so that it matches your personal needs. To get an idea of what your allocation should look like, stop by SmartAsset’s asset allocation calculator.

How Many Years $1 Million Lasts in Retirement

SmartAsset's interactive map highlights places where $1 million will last the longest in retirement. Zoom between states and the national map to see the top spots in each region. Also, scroll over any city to learn about the cost of living in retirement for that location.

Least
Most
Rank City Housing Expenses Food Expenses Healthcare Expenses Utilities Expenses Transportation Expenses

Methodology To determine how long a $1 million nest egg would cover retirement costs in cities across America, we analyzed data on average expenditures for seniors, cost of living and investment returns.

First, we looked at data from the Bureau of Labor Statistics (BLS) on the average annual expenditures of seniors. We then applied cost of living data from the Council for Community and Economic Research to adjust those national average spending levels based on the costs of each expense category (housing, food, healthcare, utilities, transportation and other) in each city. Using this data, SmartAsset calculated the average cost of living for retirees in the largest U.S. cities.

We assumed the $1 million would grow at a real return (interest minus inflation) of 2%. This reflects the typical return on a conservative investment portfolio. Then, we divided $1 million by the sum of each of those annual numbers to determine how long $1 million would cover retirement expenses in each of the cities in our study. Cities where $1 million lasted the longest ranked the highest in the study.

Sources: Bureau of Labor Statistics (BLS), Council for Community and Economic Research