Question 1

Can you describe your typical client?

Accepted Answer

The majority of our clients fall into three categories:
1. Retirees or Pre-Retirees with $1,000,000 or more in investments to manage. These clients are typically looking for assurance they are on track to retire, are ready to retire, or their spending in retirement is sustainable, and we do extensive analysis to provide them that comfort.
2. Business owners who want help with financial/operational decisions in their business, need someone to set up a retirement account (i.e. 401(k), SEP IRA, Cash Balance Plan), etc. We save them a considerable amount of time and make valuable introductions so they can focus on growing their business.
3. High income households, typically defined as $500,000 or more in household income. At this level, more strategies are available to save money on taxes and create wealth aside from your boilerplate "max out your 401(k)" strategies.

Question 2

I don't fit into one of your typical client categories. Can you still help me?

Accepted Answer

While the three categories in the question above describe the majority of people we work with, we have experience working with people from a wide range of backgrounds. We have worked with people who:
1. Have had a sudden inheritance or a Trust that needs invested
2. Have won the lottery
3. Are anticipating a large influx of money in a short period of time

If you aren't sure you would be a good fit, just send us a short message with your story at the bottom of our contact page (https://www.cbuswm.com/contact)and we will let you know if an introductory call makes sense!

Question 3

Do you offer free consultations?

Accepted Answer

Yes! Click here (https://outlook.office365.com/owa/calendar/ColumbusWealthManagementIntroMeeting@cbuswm.com/bookings/s/ikurS5WB7ESA4uwfruCWkg2)to view our availability and pick a time that works best for you to have a free introductory call. Appointments are available Monday-Friday from 8-6.

Question 4

What can I expect for the introductory call?

Accepted Answer

Introductory calls are short 30 minute calls where we learn more about your situation, share how we think we can help you, and answer any questions you have. If we both feel it would potentially be a good fit, we will send you a formal proposal after our call describing what we will help you with and our fees.

Question 5

Are you a fee-only firm?

Accepted Answer

Yes! We do not get any kickbacks or commissions from anyone we work with. Ever. The total fee you pay is clearly stated in our proposal and client agreement - no surprises down the road. We get paid by you, and you only.

Question 6

Are your advisors Fiduciaries?

Accepted Answer

Yes! We are legally and ethically required to do what is in your best interest, not ours. Our Co-founders anticipate running this firm for the next 30-40 years, and they recognize the only way that will work is to be transparent, honest, and always do what is best for our clients.

Our reputation means everything to us. We are not salesmen. We are hardworking financial advisors providing top-notch service at very reasonable rates.

Question 7

Your advisors seem young... why should we pick you over an older advisor?

Accepted Answer

Great question! Matthew and Nick played instrumental roles at two of the largest firms in Ohio before founding Columbus Wealth Management. They had the opportunity to be among the youngest partners nationwide of firms with over $1 billion in assets, but founded Columbus Wealth Management instead. They carried many titles at their prior firms – Director of Investment Research, Chief Technology Officer, Chief Information Officer, Director of Client Services, and more. Between all these positions, they learned every aspect of running a successful investment advisory firm.

While we are just as capable as an older advisor, here are a few things that set us apart:
1. We are driven - we are trying to build one of the most respected wealth management firms in the country. We are worried about your experience and results as a client instead of our retirement and exit plans.
2. If you choose us, you get to work with us for the next 30-40 years instead of having your advisor turnover every 5-10 years as they retire or switch firms. Having to explain your situation over and over again is inefficient and stressful.
3. Tax law, investments, planning strategies, and software all change every year. You need an advisor who is constantly updating their processes and technology to have the best tools at their disposal and always looking for new ways to save you money instead of one who has become complacent with the status quo.

Best case scenario, you love us and want to work with us for many years to come. Worst case scenario, you find out it isn't a good fit and we work with you on an amicable transition elsewhere. We are confident it won't come to that - we are incredibly proud of our extremely low turnover rate.

Question 8

What sets your firm apart from the bigger firms?

Accepted Answer

We are a family-owned business. There is a ton of consolidation going on in our industry right now. Huge companies are buying up firms with hundreds of millions to billions of dollars under management to create behemoth financial firms. They are paying record high prices to try to own the market. A lot of times when outside investors become involved, there is more focus on profit margins instead of client experience.

Cerulli Associates estimates that nearly 4 in 10 advisors will be retiring in the next decade,(https://www.napa-net.org/news-info/daily-news/nearly-4-10-advisors-retire-10-years-yet-many-lack-succession-plan) but many of them do not have succession plans in place. We think there is going to be even more consolidation and declining service standards in the years to come, and we are excited to be one of the few remaining firms who won't have to sacrifice your experience for profits, or struggle to figure out how to service you when older advisors exit the industry in coming years.

Question 9

What is the process to becoming a client?

Accepted Answer

Once we have had our intro call, you have reviewed our proposal, and are ready to sign up, here are the next steps:
1. We will send you a client agreement setting expectations for us and you.
2. From there, we will gather information needed to transfer/open any accounts we will manage.
3. We will have you complete a risk assessment so we can help determine an appropriate allocation to various asset classes (stocks, bonds, cash, etc.).
4. We will execute an Investment Policy Statement (IPS) that sets the expectations of how we will invest your assets, giving you peace of mind we will not deviate from what we have discussed for your portfolio.
5. We will create your client portal, which you can access via browser or our own apps in the Apple Store (https://apps.apple.com/us/app/cwm-portal/id1618042031)or Google Play Store.(https://play.google.com/store/apps/details?id=com.advisorlynx.mobileadvisor.columbus) From here you can view performance, net worth, budgeting, and much more!!
6. Then, we get to work. We optimize your investment portfolios, help with planning for retirement, taxes, cashflow, insurance, estate planning... the list goes on. If it touches your money, we can help with it.
7. Once we get through the initial onboarding process, we will routinely meet with you, whether you prefer in person, phone, or video call. We are always here for you when you need us!

Question 10

How much are your fees?

Accepted Answer

We charge two different types of fees:
1. Assets Under Management (AUM) fees: We charge you a percentage of your portfolio to manage your investments. It is 1% on the first million dollars under management, 0.9% on the next million, and continues to scale down from there.
2. Flat fees: As simple as it sounds; we give you a dollar amount you will pay us quarterly, and that is the fee you pay. No tracking of hours for calls, emails, etc. Reach out when you need us without fear of your bill increasing.

Depending on your situation, here are three common scenarios:
1. Flat fee only: Typically used when there are no investments to manage or very little
2. AUM only: Typically used for larger investment portfolios where we waive planning fees or there isn't much planning work being done
3. Combination: Typically used when you have complicated planning needs (business owner, large estate, family with a lot of accounts, college planning, etc.)

Please reference our ADV (https://www.cbuswm.com/forms-disclosures)for a full description of our fees, or schedule an intro call with us to receive a fee proposal for your specific situation.(https://www.cbuswm.com/contact)

Question 11

We received a cheaper quote from someone else... Why should we choose you?

Accepted Answer

Well, as easy as it would be to tell you that you get what you pay for, we'd love to expand on what that means in our industry:
1. We feel our AUM fees are very competitive to others in the industry. However, your overall fees might be lower with another firm if they do not charge a planning fee and we assessed one in our proposal. While you may save money by avoiding the planning fee with another firm, we believe the planning we do for our clients is just as impactful as the portfolio management, especially for those with large tax planning opportunities. Many firms that don't quote planning fees either aren't allowed to help with taxes, estate planning, etc., or choose not to because they don't make money on it.
2. Hidden fees: Many times the fee you see up front with another firm isn't all that you are paying... a lot of advisors (or brokers) make money when they sell you annuities, life insurance, etc. They may get kickbacks or commissions when you buy funds, encouraging high turnover which increases your fees and taxes. We don't do any of that. We are a fee-only firm and the fee we quote you is the only money we make. Period!
3. Lastly, if the fee another firm quotes is lower than what we quoted, perhaps you should ask them how many clients they work with. While at first glance a big client count could be impressive, you also need to realize it might take longer to get a hold of your advisor, and they are frequently incentivized to focus on consolidating your assets with them instead of doing what is in your best interest. We are purposefully selective of who we take on as a client so that we can have a meaningful relationship with you. When we see your name pop up on our phone, we want to be able to pick up right away (or as soon as our meeting ends), and give you the time you deserve. We don't have to look up your notes in our CRM full of hundreds or thousands of clients. We know what is going on in your life off the top of our head because of the frequency of our communication.

Question 12

Do you do more than just manage investments?

Accepted Answer

Yes! We are a full service firm. Be sure to check out our services page (https://www.cbuswm.com/services)and book a meeting with us (https://outlook.office365.com/owa/calendar/ColumbusWealthManagementIntroMeeting@cbuswm.com/bookings/s/ikurS5WB7ESA4uwfruCWkg2)if you want to learn more!

Question 13

You are Columbus Wealth Management and I don't live in Columbus... Can I still work with you?

Accepted Answer

Of course! We work with clients virtually in 8 states and growing! We have the best technology to provide you an amazing experience no matter where you are.

Question 14

I hate this virtual world we live in... Do you still do in person meetings?

Accepted Answer

We do! We are happy to meet with our Central Ohio customers in person whenever they would like. We believe in doing what works best for our clients, whether that is us coming to your home or office, doing a call, video chat, carrier pigeons... whatever works for you! Okay, maybe not carrier pigeons...

Question 15

Do you take possession of my assets?

Accepted Answer

Never! We always use trusted custodians to handle your assets. We use Charles Schwab (https://www.schwab.com/legal/account-protection)as our primary custodian. We can work with you to link your 401(k) and other outside accounts to our portal so we can report on performance and ensure all your accounts are working as one cohesive, properly diversified portfolio.

Question 16

Most of my wealth is in my 401(k)... can you still help?

Accepted Answer

Yes! We will work with you to review your investment options and link your 401(k) to our portal and rebalancing software. Whenever your account gets out of balance, we will work with you get your account back on track.

Question 17

I am charitably inclined - can you help me?

Accepted Answer

Yes! We have helped many clients set up Donor Advised Funds (DAFs). These are great ways to give to charities while also reducing your tax bill. You can get a deduction for fair market value of your assets AND avoid taxes on unrealized gains when done correctly with qualifying assets. We can also help with Charitable Remainder Trusts (CRUTs and CRATs) for larger gifts. Lastly, if you are taking Required Minimum Distributions (RMDs) from your IRA, we can help you send out all or a portion to charities via Qualified Charitable Distributions (QCDs) to avoid income tax on that amount. There are many other strategies we are familiar with. Reach out to us to learn more about how we can help!

Question 18

I still have more questions... what is the best way to get those answered?

Accepted Answer

Please book a meeting with us (https://outlook.office365.com/owa/calendar/ColumbusWealthManagementIntroMeeting@cbuswm.com/bookings/s/ikurS5WB7ESA4uwfruCWkg2)and we will happily answer all your questions and provide more insight on what we do!