It’s a question our wealth managers get asked all the time. Is it when you have a net worth of a million dollars? Ten million dollars? The truth is, there is no magic number. The real questions you should be asking yourself is how do you make the right choice and what are the qualities that you should look for in a wealth manager? In speaking with Budros, Ruhlin & Roe’s Senior Wealth Managers, here are some quick tips they’ve provided.

  1. Use your outside resources. Do you have an accountant or lawyer that you work with regularly? Ask them who they work with or are familiar with in the industry. Other potential sources for referrals include family and friends. It’s a good idea to identify 2-3 wealth managers to interview before committing to one person.


  1. Certifications are important. You want someone who is well versed in all aspects of financial planning and practices in an ethical way. The CFP Board grants the CERTIFIED FINANICAL PLANNER ™ designation to competent and ethical personal financial planners. They foster professional standards through education, examinations, experience and ethics. Individuals who hold this designation are required to pass an examination, have relevant work experience, obtain continuing education credits and uphold a code of ethics.


  1. Fiduciary. Working in your best interest is critical for your success. Look for an advisor who works in a fiduciary capacity. This means that they provide advice without the conflicts which may arise from selling investment or insurance products. Legally and ethically, a fiduciary must put YOUR interests ahead of their own.


  1. Goals. Your goals determine your risk tolerance, your investment objectives, and your income needs to support your current lifestyle and your lifestyle post-retirement. Since these goals look different for everyone, it’s important to find a wealth manager who can help you define what is best for you and your family.


  1. Investment Style. While sometimes investment style gets confused with goals, it is different. Goals refer to how you want your wealth to be managed. Investment style relates to the manner in which your wealth manager selects investments for clients.

At Budros, Ruhlin & Roe, you’ll benefit from our team of investment experts headed by our Chief Investment Officer, Dan Roe. We’ll work with you to develop an asset allocation strategy that will assist in achieving your goals. Our team approach, which includes you—the client—will look at the time horizon of the money you are investing, as well as your tolerance for risk, to allocate your funds accordingly.


  1. Access to your wealth manager. How will the wealth manager communicate with you? How often will you meet with them? How many clients are they responsible for managing? At Budros, Ruhlin & Roe, we take a team approach to assisting clients. Our teams consist of Senior Wealth Managers, Wealth Managers and Wealth Management Administrators who help clients achieve their goals. Teams also collaborate with our Chief Investment Officer and Chief Planning Officer to develop the best financial strategies for you.
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