Truepoint, Inc. (Cincinnati)

Name: Truepoint, Inc.
Address: 9999 Carver Road, Cincinnati, OH, 45242
Telephone: 513-792-6648

Truepoint, Inc. is a large advisory firm based in Cincinnati. It manages $2.73 billion of regulatory assets for 5,181 client accounts. It has been registered with the SEC as an adviser since 2008 and has operated in the jurisdictions of Arizona, California, Colorado, and 25 other states.

Truepoint provides financial planning services, portfolio management for individuals and small businesses, portfolio management for businesses and institutional clients, and pension consulting services. It prepares financial plans for more than 250 clients. On top of advisory services, the firm doesn't engage in other business activities.

Truepoint: assets under management

The assets under management (AUM) of Truepoint, Inc. is $2.73 billion. The firm's AUM has grown by 310% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $2.7 billion in discretionary accounts and $30.22 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $523 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $1.89 million.

Truepoint has custody of $317.34 million in cash and securities for 455 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in investment and business development companies the most. They account for 57% of the total AUM. The second-largest asset type is exchange traded securities, which make up 38% of the firm’s portfolio. Investments in cash and cash equivalents form 3% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Truepoint, Inc. for their services and products based on a percentage of assets under management and fixed fees. Compensation based on assets under management promotes a long-term relationship between a client and the adviser and helps align mutual interests. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Steven Thomas Condon serves?

The firm provides services to individuals, charitable organizations, high net worth individuals, and pension and profit sharing plans. The largest group of clients of Steven Thomas Condon is high net worth individuals with 581 clients and $2.45 billion of assets under management. Among the 8 most similar advisory firms, Truepoint has the highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $2.73 billion for 772 clients that can include trusts, estates, and 401(k) plans and IRAs of individuals and their family members. None of the firm’s clients are foreign persons or businesses.

Truepoint doesn't advise any private funds.

Careers at Truepoint, Inc.

The company employs 63 people that are either part- or full-time employees. 40 percent of the employees work as investment advisers or researchers. 25 employees are registered as investment adviser representatives with the state securities authorities.

There isn’t anyone with the role of looking for and bringing in new clients on behalf of the firm. The firm doesn’t compensate employees in addition to the salary for bringing in new clients. Employees don’t receive compensation from other entities for client referrals.

Steven Thomas Condon has been acting as President since 1 Jan 2007. James Russell Hadaway joined the executive team most recently as the Chief Compliance Officer.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Michael Jay Chasnoff	Chief executive officer	1 Aug 1990	50% - 75%	1255010
Janel Carroll Walker	Chief compliance officer	1 Oct 2004	Other	4926419
Janel Elizabeth Carroll	Chief operating officer	1 Oct 2004	Other	4926419
Janel Carroll	Chief compliance officer	1 Oct 2004	Other	4926419
John Stewart Evans	Shareholder	1 Jan 2007	Other	3153521
Steven Thomas Condon	President	1 Jan 2007	Other	3087473
Thomas Edward Bentley	Shareholder	1 Jul 2008	Other	5643857
Scott Michael Keller	Investment specialist and principal	1 Jan 2018	Other	4690886
Ian Disbrow Meiksins	Chief compliance officer	1 Mar 2018	Other	6911401
James Russell Hadaway	Chief compliance officer	1 Jan 2019	Other	3070075

Based in Cincinnati

The principal office where Truepoint, Inc. performs its advisory services is located at 9999 Carver Road, Cincinnati, OH 45242, which is also the mailing address of the firm. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 513-792-6648 or by fax 513-792-6644. The normal business hours are 8:00-5:00 on Monday - Friday. You can find more information about the New York firm at truepointcapital.com.