Scott Rister appointed President of Budros, Ruhlin & Roe; Industry leader Peggy Ruhlin set to become Chair of company she helped build

Columbus-based wealth management firm Budros, Ruhlin & Roe has announced key changes to its executive leadership team. Scott Rister, a former executive with Charles Schwab & Co., has been appointed as President of the company.  After nearly 18 years as Chief Executive Officer, Peggy Ruhlin will ascend to Chair of the Board of Directors, while firm leaders Dan Roe and John Schuman will become Co-Chief Executive Officers.

Roe and Schuman, as Co-Chief Executive Officers, will be charged with developing the firm’s strategic vision and long-term planning, along with Rister, who will also be tasked with implementing the firm’s strategic plan and managing the firm on a day-to-day basis.  Ruhlin’s role as Chair of the Board will allow her to continue to play an integral part in shaping the future of the wealth management firm she joined in 1987.

“With nearly 20 years of experience in finance and investments at Schwab, Scott Rister has a demonstrated record as a leader, a sharp financial mind, and an outstanding ability to mentor and develop talent,” said Roe. “We have no doubt that he will continue to innovate the organization and build on our reputation as a leader in the wealth management industry. With Scott working alongside John and me, we believe we have a world-class leadership team in place to effectively shape the future of Budros, Ruhlin & Roe.”

Rister and his wife, Melissa, are Ohio natives and are excited about moving “back home” after many years in Detroit and Chicago. Rister is a graduate of the University of Akron College of Business and began his career as a CPA with Ernst & Young, LLP in Akron, Ohio. He also held finance and accounting positions with Rubbermaid and Range Resources prior to joining Charles Schwab in 1999.

“Having had the opportunity to work with RIAs for most of my nearly 20 years with Schwab, Budros, Ruhlin & Roe is an organization that always stood out because of how well it is organized and managed, but even more so due to the leaders’ passion for their clients and their people.  I am honored and excited to join Dan, John and the rest of the BRR team as we leverage what Jim Budros and Peggy Ruhlin built to have an even greater impact on our current and future clients moving forward.”

Ruhlin’s leadership and expertise have shaped not only Budros, Ruhlin & Roe, but the entire financial planning industry. She served as chair and president of the International Association for Financial Planning (IAFP), and was instrumental in its merger with the Institute of Certified Financial Planners to form the Financial Planning Association (FPA) in 2000.

“It has been the privilege of my life to lead and grow this organization, and I’m looking forward to my new role and being a part of what lies ahead,” said Ruhlin. “I am proud of what we have accomplished over the years, and of the positive impact we have made on the lives of our clients and employees.”

 

About Budros, Ruhlin & Roe Inc.
Budros, Ruhlin & Roe, Inc. (BRR) is a fee-only SEC Registered Investment Advisor, located in Columbus, Ohio. BRR is an independent wealth management firm, serving clients in a fiduciary capacity. The company culture emphasizes excellence in all areas of financial planning and portfolio management. To learn more visit www.b-r-r.com.

You hire a personal trainer to meet your fitness goals, why not hire a financial planner to help you meet your financial goals?

How do you know when you should hire a financial planner? Is there a magic salary you should obtain or an amount in your retirement account? What should you look for in an advisor? Everyone from the Wall Street Journal to Business Insider has written articles about when and how to choose an advisor but, let’s start with the basics.

What can a financial planner do for you? A financial planner provides you with advice on how to save, invest, and grow your wealth while tackling specific goals such as buying a house, saving for retirement, or paying for your kids’ college education. The planner will work with you to create financial plan, which should be looked at regularly to make sure you are on track to meeting your goals.

Who should you hire? There are a couple of different ways to look at this question. First, let’s look at the type of individual that you should hire. You want the “gold standard” when it comes to financial planning so, you should look for a CERTIFIED FINANCIAL PLANNERTM (CFP®).  Individuals who hold a CFP® designation are experts in the field of financial planning. They have passed a rigorous test and have met the experience and ethics requirements set forth by the Certified Financial Planner Board of Standards. Additionally, CFP® practitioners are required to continue their education on financial matters and ethics in order to maintain their designation.

The next way to evaluate a financial planner, is to look at how the planner gives you advice and how they bill you. The planner should be a fiduciary, which means that they are legally obligated to put your best interest ahead of their own. The financial planner should also work for a Registered Investment Advisor (RIA).  Most fiduciary advisors use the term “fee-only” to describe their billing. This means, that the advisor is only compensated by fees collected from their clients. They don’t receive commissions for selling investments or financial products. This eliminates any obvious sources of conflict or bias.

Now that you know what type of planner to look for, where can you find a CFP® that is a fiduciary? There are two reputable websites that come to mind. The first is the CFP Board’s website. The website has a feature where you can search for a CFP® professional in your area or one that meets your needs. The second one is the  National Association of Personal Financial Advisors (NAPFA)’s website. Their site allows you to search for a fee-only financial advisor. On top of doing your online research, you should ask friends and family who they are working with.

Once you’ve identified a planner or two that you think could help you meet your goals, schedule a meeting either in-person or over the phone. Don’t forget to ask about the credentials that their employees hold, how they collect their fees, and if they are fiduciary. These three items are a great foundation to finding the right planner. The right financial planner will quickly become a valuable asset to helping you meet your financial goals.

CFP Board announces Public Awareness Campaign

To help build awareness around the impact a CFP® professional can have on your life, the CFP Board debuted TV ads that feature individuals at different stages in their lives. Each ad shows how a CFP® professional can design a personalized plan for you reach your goals.

The CFP Board is the non-profit organization acting in the public interest by fostering professional standards in personal financial planning through its setting and enforcement of the education, examination, experience, ethics and other requirements for the CERTIFIED FINANCIAL PLANNERTM (CFP®) certification. CFP® designation is considered the “gold standard” when it comes to working with a financial planning professional.

To learn more about Budros Ruhlin & Roe’s 19 CFP® professionals, please visit the our team page.