About Purtill Financial
At Purtill Financial, we have one main focus: helping our clients achieve financial independence and financial security in retirement. Our team of four highly educated professionals specialize in security and market analysis. We strive as fiduciaries to maximize portfolio returns for our client’s desired risk level and outperform market indexes. As fee-only advisors, we work commission-free with our clients’ best interests in mind.
Purtill Financial is a fast-growing mid sized fee only independent registered investment advisory firm. Our services include retirement planning, portfolio management, financial plans, and tax planning and preparation. Our specialty is helping executives, educators, small business owners, retirees and young professionals grow and protect their investment assets.
We have more than $100 million in assets under management, and an additional $30 million in assets under advisement, and serve more than 150 families and businesses. Our main office is an office park near I- 271 in Highland Heights, Ohio, an eastern suburb of Cleveland. We also meet clients in Vermilion, Ohio and Fort Myers Beach, Florida.
Our staff's qualifications include a Wharton MBA, Certified Public Accountant (CPA) designations, Personal Financial Specialist (PFS) credential from the American Institute of CPAs, major university degrees in finance and accounting, FINRA Series 65 Investment Advisor licenses, experience at Ernst & Young and Bank of America and a combined 50 years experience in the financial services industry. Michael Purtill, CFP® holds the CERTIFIED FINANCIAL PLANNER™ credential and is a member of the Financial Planning Association.
We differ from other financial advisory firms because of our lower fees, commitment to accountability, transparency, regular communications, team involvement in developing recommendations, getting to know our select group of clients well, and delivering great value for our investment advisory, tax, and financial planning services. We regularly communicate with clients about their investment returns, required minimum distributions, tax filings, and account replenishments to meet monthly or quarterly distribution requirements.
With two CPAs on our staff, we are particularly well-equipped to advise clients on tax implications of investment changes and account rollovers and help them with tax returns.
Honesty, Integrity, Fiduciary Responsibility to Our Clients
We believe that we excel at what we do. Most importantly for our clients, we are fiduciaries. We recommend what is best for our clients at all times. We are honest, professional, and have a high level of integrity in everything that we do. Clients can trust us because we would never recommend anything other than what is best for them and their financial futures. We treat our clients with respect and appreciate them as the lifeblood of our business.
Unlike stockbrokers, insurance salesmen, and commissioned bank advisers, who are expected to generate profits for their employers, we are totally independent from Wall Street and Wall Street firms. We invest our own personal portfolios the same way that we invest our clients. We do not recommend annuities, investments with deferred loads or surrender periods, investments in securities from firms who pay us for our recommendations, unlisted securities, or any commissioned products. We work for our clients, not for an employer. We accept no commissions or finders fees. Our advice is objective, unbiased and based on our own independent research, not based on what makes us money or what makes money for some other firm.
Because our firm does not take custody of your assets, your investments are safely held in accounts with your employer and/or an independent, non-affiliated national discount broker with SIPC and additional insurance coverage. Your account custodian will not permit transfers from your accounts without written authorization from you. The custodian also provides you with 24/7 account access online and sends monthly statements and confirmations directly to you itemizing all transactions in your accounts.
Lower Cost, Better Investment Returns
We work hard at helping our clients manage their investments for maximum returns within their desired level of risk. We help maximize client returns by keeping their costs of investing low. The fees we charge for investment advisory services are generally lower than many other firms charge. We only recommend securities that have no loads or commissions. We recommend custodians who charge very low trading fees, if any, ranging from $0 on no transaction fee funds, $7 on exchange traded funds and a maximum of $24 per trade. Our clients have no annual account fees or any other hidden charges from brokerage firms.
We do not invest your advisory fees in receptionist salaries, outside investment managers, advertising, or prospective client dinners. Our costs are less. Your fees are less.
We recommend a broadly diverse set of investments in mutual funds and exchange traded funds (ETFs). The annual operating expense for the specific funds that we recommend typically average less than 0.6% annually, compared to a 1.3% industry average.
Our clients pay no hidden fees, such as 12(b)-1 fees, insurance and mortality expenses on annuities, deferred sales charges, separately managed account fees or bid ask spreads on lightly traded individual bonds and stocks. Because we are independent advisors, we will never recommend in-house products, derivative securities, hedge funds, or private equity deals or let you pay high brokerage commissions.
Highly Competent, Professional Investment Management
Our investment recommendations are custom tailored to your situation, your investment desires, and your risk profile. Based on the risk profile you provide us, we have developed target portfolio allocations for very conservative, conservative, moderate, moderately aggressive, and aggressive investment profiles. Whether you want an all stock portfolio or a no stock portfolio, we can help you.
When you bring us your current investment portfolio, we carefully analyze each security and recommend selling only those securities that are underperformers, carry high fees, have high valuations relative to the market, or that we project will decline in value in the future. We build our portfolio recommendation around the securities that you bring to us. We have no “cookie-cutter” portfolios to recommend.
In designing your portfolio, we choose the best security choices in your employer accounts and from accounts you transfer to us, and recommend a well-balanced portfolio of investments for your accounts that will place your portfolio on the efficient frontier, where returns are maximized for your desired risk profile. Comprehensive databases from Morningstar, Inc. and Ibbotson Associates are used to help us analyze all securities. Our recommended portfolios are highly diversified across 20 different stock and bond investment categories.
We use sophisticated portfolio planning software to keep client portfolios at the efficient frontier and identify rebalancing requirements over time. We regularly monitor investment categories and specific securities so that we can recommend changes to keep your portfolio optimized for the current market.
Purtill Financial is an active investment manager and will typically recommend a number of portfolio changes as part of our annual rebalancing. We are not frequent traders. We believe that market trends need to be observed for reasonable time periods before they should result in portfolio changes. Our goal is to outperform market averages through highly diversified portfolio allocation, superior selection of no load investments and guiding client risk levels in changing market conditions.
Excellent Client Service
Our ability to support clients is met through increased investment by our firm in our business and our staff. We have the capability to add one or two new clients each month.
Desirable clients have a reasonable level of investment assets, a desire to consolidate investment accounts to reduce trading costs, and work with us to consolidate accounts and securities to maximize portfolio efficiency and diversification. We also work with many younger clients who have significant potential to grow their investment assets over their working careers.
Clients to whom we offer investment advisory contracts are open with us and consider all of our investment recommendations and implement them in a reasonable period of time, usually with our assistance. An open, cooperative, supportive relationship with our clients is essential to our firm's growth. If you think that you might meet these qualifications, please contact us so that we can arrange a meeting and explore your financial situation in detail.
Get in touch
We at Purtill Financial LLC know that finding the right investment advisor to work with is a choice not to be taken lightly. That’s why we offer free consultations to walk you through your needs, the scope of your goals, and determine if we might be a good fit to work together.