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Huntington Financial Advisors Review

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Huntington Financial Advisors

Huntington Financial Advisors provides a variety of clients with access to different investment advisory programs. Also known as the Huntington Investment Company, the firm operates as a registered investment advisor (RIA) and a broker-dealer. It has more than $1.90 billion in assets under management (AUM). 

Huntington Financial Advisors Background

Huntington Financial Advisors was incorporated in 1991 as the Huntington Investment Company. It registered as an investment advisor with the Securities and Exchange Commission (SEC) as in 2000. It’s also a member of the Financial Industry Regulatory Authority (FINRA) and Securities Investor Protection Corporation (SIPC). 

The firm is a wholly owned subsidiary of Huntington Bancshares Incorporated, which lists The Huntington National Bank as a principal subsidiary. 

Huntington Financial Advisors Client Types and Minimum Account Sizes

Huntington Financial Advisors works with individuals, retirement plans, profit-sharing plans, trusts, estates, charitable organizations, corporations and other businesses. Account minimums vary, depending on the advisory program. These minimums range from $25,000 (for certain wrap fee programs) to $250,000 for unified managed accounts (UMAs).

Services Offered by Huntington Financial Advisors

Huntington Financial Advisors offers investment advisory services to individual clients through its wrap programs on the Envestnet Managed Account Solutions (MAS) platform. The firm partners with Envestnet Asset Management and National Financial Services (NFS) to provide clients with different asset managment porgrams. These exist as separately managed accounts (SMA) and unified managed accounts (UMA). Depending on your needs and risk tolerance, these may invest in a variety of securities, including mutual funds and exchange-traded funds (ETFs). They may also adhere to model portfolios by firms like Vanguard and American Funds. 

These programs break down as follows: 

Separately Managed Account (SMA) Wrap Program

  • Huntington Investments – Guided Portfolio Solutions – Premier

Unified Managed Account (UMA)

  • Huntington Investments – Guided Portfolio Solutions – Total
  • Huntington Investments – Guided Portfolio Solutions – Select

Mutual Fund & ETF Wrap Programs (different fee schedules for each)

  • SEI Asset Allocation Programs, SEI Investments Management Corp.
  • Vanguard Strategic Model Portfolios, Vanguard Advisers, Inc.
  • Fund Evaluation Group, LLC FEG Managed Portfolios
  • Wilshire Total Allocation Portfolios
  • American Funds PMC Active Core Portfolios

Huntington Financial Advisors Investment Philosophy

When making investment decisions, the firm aims for broad diversification. Its investment advisor program committee doesn’t restrict itself to specific securities and tailors asset allocations to the goals and risk appetites of different clients. Portfolios may invest in a variety of securities, including:  

  • Large-, mid- and small-capitalization stocks
  • Government, agency and corporate fixed income bonds
  • Real estate investment trusts (REITs)
  • International assets and other alternative strategies
  • Sector-specific assets

Fees Under Huntington Financial Advisors

Fees depend on the investment products recommended by the advisor, so they can vary widely from client to client. These brief overviews of fees are based on a percentage of client assets under management (AUM). 

Huntington Investments – Guided Portfolio Solutions – Premier Separately Managed Account (SMA) Wrap Program

Separately Managed Accounts  Separate Account Manager-Equity Separate Account Manager Fixed Income
First $250,000 2.00% 1.50%
Next $250,000 1.75% 1.25%
Next $500,000 1.50% 1.15%
Next $1,000,000  1.35% 1.00%
Next $3,000,000 1.10% 0.85% 
Above first $5,000,000 0.90% 0.70%


Huntington Investments – Guided Portfolio Solutions – Total Unified Managed Account (UMA) Wrap Program

Unified Managed Accounts- Mutual Funds, ETFs and Managers  Fees
First $100,000 1.75%
Next $150,000  1.60%
Next $250,000 1.45%
Next $500,000 1.25%
Next $1,000,000 1.10%
Next $3,000,000  1.00%
Above first $5,000,000 0.85%

Huntington Investments – Guided Portfolio Solutions – Select (GPS Select) Mutual Fund and ETF Wrap Program

Unified Managed Accounts- Mutual Funds and ETFs only Fees
First $100,000 1.50%
Next $150,000 1.35%
Next $250,000 1.20%
Next $500,000  1.00%
Next $1,000,000 0.85%
Next $3,000,000 0.75%
Above first $5,000,000 0.65%

SEI Asset Allocation Programs, SEI Investments Management Corp. (SIMC)

Account Size Fees
First $100,000 1.50%
Next $150,000 1.35%
Next $250,000 1.20%
Next $500,000 1.00%
Next $1,000,000 0.85%
Next $3,000,000 0.75% 
Next $5,000,000 0.65%

Vanguard ETF Strategic Model Portfolio

Account Size Fees
$100,000  1.50%
$150,000 1.35%
$250,000 1.20%
$500,000 1.00%
$1,000,000  0.85%
$3,000,000  0.75%
More than $5,000,000 0.65%

American Funds/PMC Active Core Portfolios

Account Size Fees
$100,000 1.50%
$150,000 1.35%
$250,000  1.20%
$500,000  1.00%
$1,000,000 0.85%
$3,000,000 0.75%
$5,000,000 0.65%

Huntington Dynamic Portfolios (HDP)

Account Size Fees
$100,000 1.50% 
$150,000 1.35%
$250,000 1.20%
$500,000 1.00%
$1,000,000  0.85%
$3,000,000 0.75%
$5,000,000 0.65%

Fund Evaluation Group (FEG) Managed Portfolios

Account Size Fees
$100,000 1.50%
$150,000 1.35% 
$250,000  1.20%
$500,000 1.00%
$1,000,000 0.85%
$3,000,000 0.75% 
More than $5,000,000 0.65%

Wilshire Total Allocation Portfolios Managed by Wilshire Advisor Solutions (WAS)

Account Size Fees
$100,000 1.50%
$150,000 1.35%
$250,000  1.20%
$500,000 1.00%
$1,000,000 0.85%
$3,000,000 0.75%
$5,000,000  0.65% 

What to Watch Out For

Huntington Financial Advisors operates as a broker-dealer as well as an investment advisor. So the dual roles of financial advisors who are also brokers can pose potential conflicts of interest. That said, the firm, as an SEC-registered investment advisor, must uphold its fiduciary duty to act in the best interest of its clients - or face legal consequences. 

Disclosures

Huntington Financial Advisors reported seven disciplinary events that were resolved within the past 10 years and may be material to a potential client’s evaluation of the firm’s business. Fines ranged from $2,000 to $75,000. The allegation that involved the largest return of money to clients ($197,351 plus prejudgment interest) was brought by the SEC and was related to "breaches of fiduciary duty and inadequate disclosures by [the firm] in connection with its mutual fund share class selection practices and the fees it and its associated persons received."

For more information, you can access the practice's Form ADV on the SEC's Investment Adviser Public Disclosure website. 

Tips for Finding the Right Financial Advisor

  • Ask candidates about their formal training. Since none is actually required to be a financial advisor, any notable industry certifications will help them stand out from the pack. 
  • Use our advisor matching tool. It links you with up to three local advisors based on your needs and preferences. It also gives you access to detailed profiles so you can evaluate their credentials. 

All information was accurate as of the writing of this article.

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