Top Financial Advisor Firms in Ohio

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With just over $9.1 billion in assets under management (AUM), Johnson Investment Counsel, Inc. is nearly 2.5 times larger than the next firm on this list, MAI Capital Management, LLC. The fee-only firm is based in Cincinnati. It also currently stands as SmartAsset’s top Cincinnati financial advisor firm.

There are 57 members on the advisory staff at Johnson Investment Counsel, making its advisory team larger than that of any other firm on this list by nearly 20 advisors. Across this group, you’ll find 33 chartered financial analysts (CFAs), 19 certified financial planners (CFPs), three certified trust and financial advisors (CTFAs), two certified public accountants (CPAs), two chartered alternative investment analyst (CAIA), one accredited investment fiduciary (AIF), one chartered life underwriter (CLU), one chartered financial consultant (ChFC), one certified divorce financial analyst (CDFA) and one certified investment management analyst (CIMA).

Even at its massive size, more than 2,300 of the firm’s roughly 3,000 individual clients do not have high net worths. Aside from individuals, the firm also works with trusts, estates, investment companies, businesses, government entities, pension and profit-sharing plans and charitable organizations. The firm calls for a minimum account size of $500,000. 

Johnson Investment Counsel, Inc. Background

Just one firm on this list has been around longer than Johnson Investment Counsel, Inc., which was founded in 1965. Its ownership is split between all of its 32 employees.

To manage client assets as comprehensively as possible, this firm employs six different pillars of financial management. These pillars include goal-based financial planning, investment management, retirement planning, insurance analysis, income tax planning and estate planning.

Johnson Investment Counsel, Inc. Investing Strategy

Rather than bank on a single advisor to form each client’s portfolio and investment plan, Johnson Investment Counsel, Inc. prefers to work as a group. The firm believes this plays to its collective experience and allows clients to benefit from the entire team’s knowledge.

The firm’s portfolios are primarily made up of exchange-traded funds (ETFs), stocks, bonds and mutual funds. However, this could change, as the firm thinks that the risk tolerance and time horizon of each client should ultimately shape how things are done.

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As SmartAsset’s top financial advisor firm in Cleveland, MAI Capital Management, LLC has roughly $4 billion in assets under management (AUM). The fee-only firm’s client base is primarily comprised of high-net-worth individuals, but it also includes pension and profit-sharing plans, trusts, foundations, endowments and S corporations. The firm says it specializes in working with senior business executives and sports professionals.

New clients need at least $500,000 in investable assets to open an account with this firm. Its team includes 14 certified financial planners (CFPs), 12 certified public accountants (CPAs), two chartered financial analysts (CFAs), two certified private wealth advisors (CPWAs), one registered paraplanner (RP), one chartered life underwriter (CLU), one chartered market technician (CMT) and one chartered retirement planning counselor (CRPC).

MAI Capital Management is the only firm on this list that charges performance-based fees. These fees will only be charged if your portfolio outperforms its original projections. The firm is a fiduciary, though, meaning it’s required to act in your best interest.

MAI Capital Management, LLC Background

MAI Capital Management, LLC is the most recently formed firm, with a founding date of 2014. The firm is not independently owned or employee-owned. Rather, it’s owned by The Buoncore Group, an investment company.

MAI offers general investment management for investors who don’t have a specific objective in mind. For those that do, the following goals-based services are available:

• Estate planning
• Retirement planning
• Insurance review and analysis
• Tax planning and minimization
• Financial accounting
• Philanthropic gift planning

MAI Capital Management, LLC Investing Strategy

At MAI Capital Management, LLC your risk tolerance, time horizon and liquidity needs will collectively determine your portfolio’s composition. However, the tax implications of an investment will also strongly influence the firm’s decisions.

Similarly, market timing also comes into consideration, though the firm primarily takes a long-term approach. MAI isn’t totally against using short-term strategies because these can potentially garner quick returns, albeit with a higher level of risk.

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Like the previous two firms, Bartlett Wealth Management calls for a minimum investment of $500,000 to begin a client relationship. It’s a fee-only firm that manages assets for more than 1,100 high-net-worth individuals. The firm doesn’t currently have any non-high-net-worth individual accounts to its name. It also works with foundations, endowments, corporate and non-profit retirement plans, public funds and Taft-Hartley plans.

Cincinnati is home for this firm that was ranked second on SmartAsset’s list of the top financial advisor firms in the city. Bartlett’s 19-person advisory team boasts a total of 17 advisor certifications, including 11 chartered financial analysts (CFAs), three certified financial planners (CFPs), one certified public accountant (CPA), one chartered alternative investment analyst (CAIA) and one accredited domestic partnership advisor (ADPA). 

Bartlett Wealth Management Background

Bartlett Wealth Management has been in business since 1898, making it one of the oldest financial advisor firms in the U.S. Every employee of the firm has a stake in its ownership.

The firm’s services are divided into two major areas: investment management and financial planning. Its investment management services encompass different styles of investing, such as equity management, fixed income, alternative investments and environmental and social investing. Its financial planning services each focus on more specific needs and include:

• Retirement planning
• Financial impact of divorce
• Managing an inheritance
• Stock option exercise
• Birth of a child/grandchild
• Coping with an elderly parent
• Coping with the death of a spouse
• Charitable gift planning
• Early retirement package planning
• Large stock position management

Bartlett Wealth Management Investing Strategy

Diversification is important to most firms in today’s financial advising world, and Bartlett Wealth Management is no exception. The firm invests in completely unrelated asset classes across stocks, exchange-traded funds (ETFs), mutual funds and some international investments.

The firm is also an active investment manager, which sets it apart from many similar firms. Through this ideology, Bartlett strives to maximize the possibility of high returns while minimizing risk by consistently moving assets to try to take advantage of changing opportunities in the market.

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If you look into Hartland & Co., the first thing that will jump off the page is the firm’s ultra-high account minimum that ranges from $1.67 million to $5 million, depending on which services you want. Possibly because of this, the firm works with four times as many high-net-worth individuals as non-high-net-worth individuals. Rounding out its typical clientele are retirement funds, endowments, foundations and operating funds for both nonprofit and for-profit organizations, insurance companies and healthcare institutions.

This fee-only firm employs nine chartered financial analysts (CFAs), nine certified public accountants (CPAs), eight certified financial planners (CFPs), two accredited investment fiduciaries (AIFs), two certified investment management analysts (CIMAs), one chartered life underwriter (CLU), one chartered alternative investment analyst (CAIA) and one accredited tax preparer (ATP). Hartland & Co. is also engaged in an accounting firm business.

SmartAsset ranked it second on its list of the top financial advisor firms in Cleveland.

Hartland & Co. Background

Three distinct companies own Hartland & Co.: Hartland Holdings, Inc., Hartland Management Investors, LLC and Rosemont Partners III, L.P. The two Hartland groups are made up of employees of the firm, which was originally formed in 1989.

This firm builds unique investment and financial plans for each of its clients as opposed to pairing clients with previously created services. The firm’s stated areas of expertise are retirement and healthcare management for institutions and family financial management for private clients.

Hartland & Co. Investing Strategy

Hartland & Co. believes it can build successful portfolios by working to control risk. While this isn’t necessarily a novel idea, it’s a strong first step towards reducing the amount of market volatility that a portfolio will encounter, making it more stable over the long term. 

Hartland & Co. combines both active and passive investment strategies. This marriage of two technically conflicting approaches allows the firm to take advantage of broad opportunities in the market.

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Though Truepoint, Inc. has just 23 advisors on staff, its team holds a total of nearly 50 certifications. The firm has 25 certified financial planners (CFPs), 14 certified public accountants (CPAs), six chartered financial analysts (CFAs), two certified trust and financial advisors (CTFAs), one chartered alternative investment analyst (CAIA) and one certified estate planner (CEP) on staff. The Cincinnati-based operation ranked third on SmartAsset’s list of the top financial advisor firms in Cincinnati.

Truepoint is the only firm on this list that doesn’t require its clients to have a minimum amount of investable assets to open an account. However, the fee-only firm’s client base is made up of mostly ultra-high-net-worth and high-net-worth individuals. It also works with families, trusts, businesses, qualified plans and foundations.

Truepoint, Inc. Background

Truepoint, Inc. was founded in 1990 by Michael Chasnoff, the firm’s CEO. The firm is currently employee-owned. Its team of financial planners, investment managers and wealth advisors has a wide range of experience levels, from newbies to industry veterans.

Based on your future financial desires, goals and other factors, your advisor will determine which services are appropriate. The firm offers the following services:

• Investment planning
• Tax planning and preparation
• Trust services
• Estate planning
• Risk and insurance planning
• Budget creation
• Cash flow planning
• Coordinated personal action plans

Truepoint, Inc. Investing Strategy

Rather than attempting to beat the market, Truepoint, Inc. looks to build diversified portfolios, as it believes that market-timing is too risky for your financial future. The firm also largely prefers passive investing, as it thinks that the elimination of expensive manager costs will only benefit portfolios.

As you can likely infer from what’s above, this firm targets long-term investments that are goal-focused and low-fee. The firm also relies on a “buy-hold-rebalance” strategy, as it believes that rebalancing is an important tool for achieving long-term financial success.

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RiverPoint Capital Management, LLC principally does business in Cincinnati, where it placed fourth on SmartAsset’s list of the top financial advisor firms in Cincinnati. It is part of the Mariner Wealth Advisors network, which has locations in 16 different states. The firm’s team includes eight chartered financial advisors (CFAs), five certified financial planners (CFPs) and two certified public accountants (CPAs). 

If you wish to work with this firm, you will need a minimum of $1 million in investable assets. However, the firm manages a fairly even proportion of clients with and without a high net worth. In addition, it has relationships with charitable organizations, trusts, estates, pension and profit-sharing plans, corporations and foundations. 

RiverPoint Capital Management, LLC has the simplest fee structure of any of firm on this list, as it solely charges clients based on a percentage of assets under management (AUM). Not only will most other firms charge you asset-based fees, but they’ll also charge separate hourly and fixed rate fees. As a fee-based firm, RiverPoint employs some advisors who sell insurance policies to clients on a commission basis. The firm does abide by fiduciary duty though, binding it to always act in your best interest.

RiverPoint Capital Management, LLC Background

As RiverPoint Capital Management is part of the Mariner Wealth Advisors network, it is no longer independently owned. The firm has been around since 1995. Barron’s has ranked it as one of the top financial advisors in the state of Ohio for three consecutive years.

The services offered by this firm should cover the needs of most prospective clients. Though the firm’s advisors will further tailor services based on your needs, its offerings include retirement planning, estate planning, education cost planning, income tax planning, insurance planning and liability management.

RiverPoint Capital Management, LLC Investing Strategy

RiverPoint Capital Management, LLC primarily invests its clients’ assets in publicly traded equities, preferred equities, mutual funds, fixed income securities, exchange-traded funds (ETFs) and exchange-traded notes (ETNs). The allocation of assets among these investments will vary based on your personal risk tolerance, time horizon and any specific financial goals you’d like to achieve.

RiverPoint Capital Management uses public information, third-party research, in-house analysis and analytical tools in its investment decision process. In general, though, this firm selects investment opportunities that appear to be beneficial for the long-term.

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Fee-only financial advisor firm Budros, Ruhlin & Roe, Inc. ranks first on SmartAsset’s list of the top financial advisor firms in Columbus. The firm’s team of 25 advisors has just seven advisor certifications in total, including five certified financial planners (CFPs), one certified public accountant (CPA) and one chartered financial analyst (CFA).

Budros, Ruhlin & Roe calls for a minimum of $500,000 in investable assets to open an account. This likely explains the fact that the firm serves nearly three times as many high-net-worth individuals as individuals. Its client base also includes pension and profit-sharing plans, estates, trusts, foundations, businesses and endowments.

Budros, Ruhlin & Roe, Inc. Background

Budros, Ruhlin & Roe, Inc. is an independently owned firm that was established in 1979. Chairman James Budros created the firm and is still its primary owner. CEO Peggy Ruhlin and CIO Daniel Roe also share ownership.

Budros, Ruhlin & Roe claims to have several specialties. The firm breaks its services down into four verticals: wealth management, investment management, retirement plan services and specialized services. Wealth management is centered around general financial planning needs such as tax, estate and financial independence planning. On the other hand, investment management is less goals-driven and more generalized. Retirement planning is meant to help you build a level of comfort in your post-retirement income, while specialized services focus explicitly on financial advising for divorcees.

Budros, Ruhlin & Roe, Inc. Investing Strategy

Budros, Ruhlin & Roe, Inc. will build your portfolio based on your input. Through initial interactions with your advisor(s), you will determine your risk profile, time horizon and specific financial objectives.

This firm uses a fairly wide range of investment types to flesh out its client accounts. These could be any blend of domestic and international equities, global fixed income, alternative investments, commodities, real estate, individual securities, open-end mutual funds, exchange-traded funds (ETFs), exchange-traded notes (ETNs), separately managed accounts and limited partnerships.

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After top-ranking firm Johnson Investment Counsel, Inc., Hamilton Capital Management, Inc. has the second-largest advisory team on this list, with 39 members. This team has a total of 41 certifications, including 28 certified financial planners (CFPs), five certified public accountants (CPAs), three chartered financial analysts (CFAs), one chartered financial consultant (ChFC), one chartered retirement planning counselor (CRPC), one certified divorce financial analyst (CDFA), one chartered retirement plans specialist (CRPS) and one national social security advisor (NSSA).

Unlike all but one other firm on this list, this fee-only firm serves more individuals than high-net-worth individuals. This could be due to its $250,000 account minimum. Additionally, the firm’s client base includes businesses, foundations, family trusts, endowments and qualified and non-qualified retirement plans.

Hamilton Capital Management is headquartered in Columbus. It ranked second on SmartAsset’s list of the top financial advisor firms in Columbus.

Hamilton Capital Management, Inc. Background

Founded in 1997, Hamilton Capital Management, Inc. is the third most recently established firm on this list. A large portion of the firm’s employees are shareholders.

Like many of the other firms on this list, Hamilton Capital Management will mold its advisory offers to fit your personal financial needs and desires. The firm provides the following goals-based services:

• Cash flow planning
• Debt management
• Investment planning
• Retirement planning
• Estate planning
• Wealth transfer planning
• Insurance planning
• Tax mitigation
• Higher education planning

Hamilton Capital Management, Inc. Client Experience

Hamilton Capital Management, Inc. allows for quite a bit of personal choice on the part of the client. Its advisors will allow clients to choose between a mutual fund-based portfolio and an ETF-based portfolio, though the firm may utilize a fixed income strategy in conjunction with the option you choose.

Although you have the final say in the above decision, Hamilton Capital Management does typically have the discretion to make investment decisions on its clients’ behalfs. But if you’d feel more confident having greater control in this part of the process, the firm will likely oblige.

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With a required minimum account size of $1 million, you might be surprised to learn that SJS Investment Services serves nearly as many individuals as high-net-worth individuals. The Sylvania-based firm also works with retirement plans, charities, financial institutions and public entities.

With 10 advisors on staff, this firm has the second smallest advisory team behind only Fairport Asset Management, the final firm on this list. However, SJS Investment Services’ team has the fewest advisor certifications, as there are just three certified financial planners (CFPs), one chartered financial analyst (CFA), one chartered life underwriter (CLU) and one certified fixed income practitioner (CFIP) on staff.

If you join this fee-based firm, you may receive offers for various insurance policies and advisors may earn commissions from sales. SJS Investment Services is bound by fiduciary duty though, forcing it to always act in your best interest.

SJS Investment Services Background

SJS Investment Services was formed in 1995 by founder Scott Savage. Savage remains the firm’s CEO and principal owner.

Like a growing number of firms, SJS has experience in many different areas of financial planning and investment management. It doesn’t limit its clients to arbitrary service categories. Instead, it listens to each client and determines which services are appropriate based on these conversations.

SJS Investment Services Client Experience

SJS Investment Services draws up your investment plan based on your risk tolerance, time horizon and personal financial goals. But the plan the firm comes up with won’t necessarily be the final iteration, as the firm gives its clients the power to veto or approve plans.

Once your plan has been implemented, the firm will consistently monitor your account and let you know when it’s rebalanced or if any significant changes are made. These reports will come at least once a quarter.

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Though it has $1.5 billion in assets under management (AUM), Fairport Asset Management has just five advisors on staff. This small group has an impressive number of certifications though, including six certified financial planners (CFPs), five chartered financial analysts (CFAs), four certified public accountants (CPAs), two registered paraplanners (RPs), two accredited estate planners (AEPs), two chartered retirement planning counselors (CRPCs), one chartered alternative investment analyst (CAIA), one chartered global management accountant (CGMA) and one certified exit planning advisor (CEPA).

New clients must have at least $1 million in investable assets to open an account with this firm. Although high-net-worth families remain Fairport’s most common clients, it also works with individuals, businesses, government entities, pension and profit-sharing plans, estates, trusts and charitable organizations.

The fee-only firm calls Cleveland home, and currently ranks third on SmartAsset’s list of the top Cleveland financial advisor firms.

Fairport Asset Management Background

Fairport Asset Management was formed in 2001 through a merger between Roulston & Co. and The Hickory Group. However, you can trace the firm’s origin back to 1963. Today, managing partners Kenneth Coleman and Heather Ettinger run the firm. They’ve spent a combined 50 years in the financial services field.

This firm has five main categories of financial management services:

• Asset allocation strategies
• Investment management
• Net worth statements
• Cash flow analysis
• Wealth management services

Fairport Asset Management Investing Strategy

At the core of Fairport Asset  Management’s client portfolios are equities, over-the-counter securities, warrants, debt securities, CDs, municipal and government securities, investment company securities, mutual funds, exchange-traded funds (ETFs), options, future contracts and real estate. 

The exact investments the firm decides to use in your account depends on a complex review of each opportunity. This consists of financial charting, financial statement analysis and technical analysis of past market and company data.