Truepoint Wealth Counsel Names Three New Shareholders
January 10, 2020 – Truepoint Wealth Counsel is pleased to name three new shareholders: Brad Felix, Ted Parchman and Nichole Williams. With this announcement, Truepoint’s shareholder group grows to 22 owners, signifying the firm’s continued commitment to remaining independent and 100% employee owned.
“On behalf of our shareholder group at Truepoint, I am excited to welcome Brad, Ted and Nichole as new owners in the firm,” said CEO and founder Michael J. Chasnoff. “As we approach our firm’s 30th anniversary, we look at our succession plan as an integral part of the next 30 years and beyond. Remaining independent and free from outside ownership allows us to align our core values with how we serve our clients as fiduciaries.”
Truepoint’s commitment to independence and employee ownership has become increasingly unique in the wealth management industry, with many firms opting to sell control to large third-party corporations. In 2007, the firm adopted a long-term succession planning strategy that allows senior team members to purchase ownership shares. Truepoint now has 64 employees, 34% of whom are owners. “We strive to have a diverse group of shareholders, including those who are not in direct client advisory roles,” said president and principal Steve Condon. “And our shareholder succession plan achieves two critical objectives – to attract and retain talented professionals, and to provide confidence and stability for clients in an industry where high employee turnover is all too common. Demonstrating to our clients that Truepoint has a bright and long-term future is essential to earning their trust.”
Brad Felix is an operations specialist at Truepoint where he leverages his experience with technology, data analysis, and automation to bring innovation and efficiency to Truepoint clients and team members. He also serves on Truepoint’s management committee. Before joining Truepoint, Brad founded RhineVest, a firm dedicated to providing fee-only, fiduciary financial guidance. Brad earned a bachelor’s degree in finance from Miami University, graduating summa cum laude with University and Farmer School of Business Honors. He also holds the Chartered Financial Analyst (CFA) designation.
Ted Parchman is an investment specialist at Truepoint where he is responsible for developing and implementing investment strategies as well as rebalancing client portfolios. Ted is a cum laude graduate of the Farmer School of Business at Miami University with a bachelor’s degree in finance. He also holds the Chartered Financial Analyst (CFA) designation.
Nichole Williams is a tax specialist at Truepoint, where she focuses on tax planning for Truepoint clients. Nichole graduated summa cum laude from the University of Kentucky in Lexington with degrees in both accounting and finance. She is a Certified Public Accountant (CPA) in both Ohio and Kentucky.
About Truepoint Wealth Counsel
Since our founding in 1990, the focus of Truepoint Wealth Counsel has been creating the best personal financial advisory experience possible. We are fee-only fiduciaries and remain 100% employee-owned. We employ an evidence-based investment strategy. Tax planning and preparation and estate planning are core elements of our client experience and have been for years. And all our guidance is rooted in our clients’ personal values and goals as we connect all the dots to deliver peace of mind and possibility. As of June 30, 2021, the firm has $4.3 billion under management.