A city with an automotive and industrial history that’s transitioning into a greener economy and new opportunities, Toledo remains one of the largest cities in Ohio and a great general area to find your success and build your personal wealth. Yet while there’s a lot on offer, that doesn’t mean you can ignore the fact that you need to manage and keep tabs on your wealth to make sure you’re getting the most from it. To help you or to even primarily manage this burden, we recommend the services of a financial planner or investment advisor.
Yet where should you look for one, and which advisory firms are the best in the area? Inside the city and out, here are our top five choices for financial advisory firms for Toledo, Ohio:
1) Fairport Wealth
While is based quite a bit away in Cleveland, Fairport Wealth is the largest firm on this list with about $1.77 billion in assets under management and happens to be one of the oldest having been founded in 1963. With a highly qualified team, they can provide you with comprehensive advice and any of the planning services you or your family might require to get through a confusing financial period (and beyond).
They prefer a balanced approach to investment management, and will make sure portfolios have liquidity, are optimized where risk is concerned, are tine-tuned towards your goals, and take advantage of global opportunities.
Fairport Wealth is a fee-only firm that requires that you have $1 million in assets under management to work with them.
You can expect the following working with Fairport Wealth:
- A team that has experience helping inheritors, divorcees, and widows and widowers, allowing you to focus on the things that matter during a difficult time.
- A team-minded approach to providing financial advice.
- You can trust that your experience and advice will be tailored to fit your needs and only your needs.
2) Wellspring Financial Advisors
Another Cleveland firm that we think might be good for Toledo residents, Wellspring Financial Advisors is generally the best fit for people with a high net worth who would like to work with a firm that knows how to handle larger amounts of wealth with ease. They have been in business since 2007, have $1.28 billion in assets under management, and an engaging and friendly staff who are some of the best advisors in the area.
Their investment strategy and approach to financial planning is a holistic one, and they will consider every factor in your life and get multiple perspectives before finalizing a plan for you. They tend towards a long-term outlook for clients as opposed to a focus on short-term trading.
Wellspring Financial Advisors is a fee-only firm that technically does not have an account minimum, but we recommend that only people with $10 million or more to invest seriously consider working with them.
You can expect the following working with Wellspring Financial Advisors:
- Main services offered include financial planning, tax planning, life planning, estate planning, and investment management.
- A very communicative team that will make sure your goals and concerns are heard.
- An understanding of multi-generational wealth that will have you resting easier about your financial legacy.
3) Camelot Portfolios, LLC
Under a few names in the Maumee area, Camelot Portfolios, LLC is a firm with about $434 million in assets under management that has been in operation since 2008. Seeking to provide tailored and comprehensive solutions to your financial problems or goals, they can give you a clear path forward.
They will use a variety of different strategies and portfolios based on what they think will fit your needs best and can accommodate many types of individuals.
Camelot Portfolios, LLC is a fee-based firm. They have different minimum requirements based on the type of account or services you would like with them.
You can expect the following working with Camelot Portfolios, LLC:
- Regular updates and information about the markets in general as well as their strategies.
- Experience with making the most of charitable giving.
- A series of online tools and platforms, with which the firm establishes its modernity.
4) Lesjak Planning, LLC
An excellent firm in Westlake we thought worth your consideration, Lesjak Planning, LLC is a firm founded in 1980 that has $250 million in assets under their management. They take great pride in their independence from outside influences, and their five advisors (each of whom has a CFP certification) can guide you to your financial end-goals.
They week to avoid quick solutions and short-term investing in most cases, and instead prefer to pursue long-term objectives for their clients.
Lesjak Planning is a fee-only firm that does not have any minimum account requirements, but we do recommend that you double-check their fee structure to make sure that they are a good fit for you.
You can expect the following working with Lesjak Planning, LLC:
- A plan-driven approach that makes sure no decision is made too hastily.
- Experience helping families at the start of their financial journey.
- They hold themselves to a high ethical standard.
5) United Advisors, LLC
Another Maumee firm that is much smaller in scale with only $63 million in assets under management, we find that United Advisors, LLC’s closeness to Toledo and its consistency in providing excellent service make it a worthwhile consideration for many residents. It was founded in 2004 and has only three advisors (albeit focused and effective ones). They are also an excellent option if you have a complex financial situation and need help untangling it.
United Advisors, LLC is a fee-based firm that requires clients have at least $100,000 in investible assets to work with them, but they state that they generally work with clients who have between $500,000 and $5 million to invest.
You can expect the following working with United Advisors, LLC:
- They consider the client-advisor relationship to be vital and seek to create a long-term partnership.
- Main services include strategic wealth planning, asset management, and strategic alliances with other professionals under your employ.
- Regular communication and meetings with your advisor to keep you informed as to the status of your wealth.
There is no shortage of options in the state or in the area when it comes to a financial advisory firm for Toledo residents. Yet that doesn’t mean you should just jump at the first firm that meets your qualifications. We recommend doing some comparison shopping, making some phone calls, finding more information, and even going to a few different consultations until you’re certain of your decision. It might take a bit more time on your end, but you will experience greater peace of mind knowing your wealth is in the right hands.