Ruggie Wealth Management is a fee-based financial advisor firm that’s headquartered in Tavares, Florida. The firm has additional branches in the Sunshine State in The Villages and Winter Park. It offers services related to taxes, estate planning, retirement planning, employee benefits, investment management and more.
The firm currently has $581.2 million in assets under management, overseen by a 10-person advisory team that includes four certified financial planners (CFP) and two chartered financial consultants (ChFC). Nearly three-quarters of the money the firm manages belongs to individuals without a high net worth.
Ruggie Wealth Management Background
Ruggie Wealth Management is a subsidiary of the Ruggie Capital Group, LLC. The firm was founded in 2008 by President and CEO Thomas Ruggie. However, it’s now owned by holding companies Panormos Capital Group, LLC, which owns 75% of the firm, and Carson Group Holdings, LLC, which owns the remaining 25%.
A few notable financial publications have rated Ruggie Wealth Management as one of the best advisory firms in the nation. Financial Times has listed it among its top 300 registered investment advisors (RIAs) for the last three years. Barron’s has named it one of the top 1,200 advisors in the U.S. six times, including a four-year run from 2015-2018.
What Types of Clients Does Ruggie Wealth Management Accept?
About 99% of the firm’s 850 client accounts belong to individual investors who do not have a high net worth. Still, the firm also works with high-net-worth individuals, banks, businesses, trusts, estates, charitable organizations, investment companies and pension and profit-sharing plans.
Ruggie Wealth Management Minimum Account Sizes
Ruggie Wealth Management requires a minimum investment of $250,000 to become a client of the firm. However, the firm states that it may alter this minimum under certain circumstances.
Services Offered By Ruggie Wealth Management
Ruggie Wealth Management is a full-service firm, meaning it provides a wide range of services. It divides its services by client type. For the most part, this includes individuals and businesses/institutions, though some of these services may also apply to other client types:
- Personalized financial planning
- Retirement analysis and planning
- Asset allocation
- Estate planning
- Philanthropic gift planning
- Insurance analysis
- Risk management
- Education funding
- Employee benefits review
- High-net-worth family office services
- Customized investment plans
- Asset allocation
- Diversification strategies
- Investment reporting
- Asset management
- Administrative duties
- Financial management
- Portfolio and investment management
- Customizable service plans
- Retirement plan sponsors
- Plan design
- Additional plan service provider review
- Participant education
- Investment selection
- Portfolio model creation
- Monitoring and rebalancing
Ruggie Wealth Management Investment Philosophy
Throughout its time in the business, Ruggie Wealth Management has built an investment strategy that aims to be as holistic as possible. This means looking beyond just your financial goals and at which investments can offer strong returns. Although these are integral parts of the firm’s approach, it also takes into account clients’ needs regarding taxes, retirement, insurance and education funding.
The first step in a relationship with Ruggie Wealth Management is a conversation with your advisor. The purpose of this meeting is to evaluate and determine your risk tolerance, time horizon, liquidity needs and how any existing assets or investments can be utilized. Once a plan is created, your advisor will ensure you understand it and approve of it.
Ruggie Wealth Management is open to using just about any investment type in a client portfolio, as long as it fits within the context of your financial plans. However, the firm frequently uses mutual funds, stocks, bonds, exchange-traded funds (ETFs), options, variable annuities, real estate investment trusts (REITs), public and private partnerships and insurance products in client portfolios.
Fees Under Ruggie Wealth Management
Ruggie Wealth Management's advisory fees are usually negotiable. Clients have the choice between non-wrap fee and wrap fee programs. For discretionary or non-discretionary investment advisory services provided on a non-wrap fee basis, the firm's annual rate generally ranges between 0.40% and 2.00%. The firm determines a client's exact rate based on the amount of assets under management and the scope and complexity of the services provided.
Clients who opt for discretionary investment management services through the firm's wrap fee program will pay a single annual program fee. This fee covers the costs of trading, custody, reporting and investment management fees. Rates range from negotiable to 2.00%, as shown in the table below.
|$0 - $2 million||1.45%|
|Next $3 million||1.25%|
|Next $5 million||1.00%|
|Above $10 million||Negotiable|
For retirement plan advisory services, Ruggie Wealth Management charges clients a negotiable fee based on a percentage of assets under management.
What to Watch Out For
Potential and current clients should be aware that some of the advisors who work at Ruggie Wealth Management sell insurance policies on an individual basis. This could create a conflict of interest, as these individuals earn commissions from the sale of insurance products. While the firm is fee-based, it is a fiduciary, so it is bound by law to always act in clients’ best interests.
Ruggie Wealth Management has no legal issues or disclosures in its recent past.
Opening an Account With Ruggie Wealth Management
You can call Ruggie Wealth Management at (352) 343-2700 to learn more about the firm and to set up an appointment with an advisor. Or, you could stop by the firm’s main location in Tavares, Florida.
If you’d rather an advisor reach out to you, fill out the form offered on the “Contact” page on the firm’s website. You’ll simply need to provide your name, email address, phone number and a short description of what services you’ll need.
Where Is Ruggie Wealth Management Located?
Ruggie Wealth Management does the majority of its business in Tavares, Florida, where its office is located at 2100 Lake Eustis Drive. The firm also has branches in The Villages, Florida, and Winter Park, Florida.
Tips for Getting Retirement Ready
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