Indianapolis (Jan. 31, 2003) -- Top 100-ranked Crowe Chizek & Co. has entered the wealth management services arena with the launch of a new subsidiary.The fee-only entity, Crowe Wealth Management, is a joint venture between Crowe Chizek and Indianapolis-based Oxford Financial Group Ltd., a fee-only registered investment advisor. The firm, which launched Jan. 1, offers family office services, investment planning and evaluation, as well as trust and fiduciary services.
Don Bouffard, formerly partner-in-charge of Crowe Chizek’s commercial services group, serves as managing executive of Crowe Wealth Management, based out of the firm’s Columbus, Ohio office. He remains a partner in the CPA firm. The entity’s nine other full-time employees are also from the CPA firm.
"Our primary goal was to remain independent in the advice we give our clients and we couldn’t find a way to do that except through a joint venture with a fee-only investment advisory firm," said Bouffard.
Crowe Chizek manages the subsidiary, its business development and client relationships, while Oxford provides the investment advisory services and back office support. During its first three weeks of business, the firm has attracted a half dozen clients, according to Bouffard. On the investment advisory side, the firm charges a percentage of assets under management. Family office services are billed on a flat fee structure.
-- Melissa Klein
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