March 19, 2013
Chamber member’s clients rely on firm for strategic, personalized counsel
The way Blue Ash-based Truepoint Inc. sees it; few areas of life are more personal than finances. The independent financial advisory firm, which is a finalist in the Chamber's 2013 Blue Ash Business Awards in the Business of the Year (1-50 employees) category, cites client relationships based on mutual trust as the basis of its success.
"For a client to entrust someone with their financial future requires that they reach a comfort level that makes it possible for them to fully open up about their goals and needs," said Truepoint CEO Michael Chasnoff. "Financial issues can often be sensitive and emotional issues. Therefore, the firm takes great interest in its clients not just as customers, but also as people."
In 1985, Chasnoff established a Registered Investment Advisory (RIA) firm for a local life/health insurance agency. After a few years, he concluded there was a better way to serve clients than in a commission environment. In 1990, Chasnoff bought out the RIA firm in order to create Truepoint. It became one of the region's first fee-only firms, challenging the industry's traditional model of wealth management by placing the interests of its clients first and eliminating conflicts of interest.
The 28-employee firm offers clients three levels of individual advisory service:
- Truepoint Financial services combine investment management with fundamental financial guidance.
- Truepoint Capital services provide integrated financial planning, investment management, tax preparation and estate reviews.
- Truepoint Family Office services help families design their own private family office, based on their goals and objectives.
The firm relies on client feedback for ways to improve the client experience, conducting a biannual client survey. Over the past eight years, more than 700 Truepoint client surveys have been completed, with more than 98 percent of clients indicating they would refer the firm to family, friends and associates.
Thanks to its supportive clients, word is spreading about Truepoint's approach to wealth management. Since the end of 2006, the client base has grown at an annualized rate of just over 10 percent. And, despite the financial crisis and subsequent extreme market volatility, its assets under management have grown at an annual rate just under nine percent.
In February, Truepoint was named a finalist in the 2013 Blue Ash Business Awards. The winners will be announced at a March 21 luncheon featuring keynote speaker Dr. Yousuf Ahmad, Division Senior Vice President and Chief Network Transformation Officer at Mercy Health.
For more information, visit truepointinc.com