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Truepoint Wealth unit acquires Cincinnati-based financial planning firm

Truepoint Wealth Counsel LLC subsidiary RhineVest Advisors has acquired TruWealth Planning, a Cincinnati-based fee-only financial planning firm.

Terms of the deal were not disclosed. The acquisition could enable RhineVest Advisors to fill a void for cost effective, fee-only fiduciary advice in the Cincinnati market, Truepoint Wealth Counsel President Steve Condon said. TruWealth offers a range of low-cost exchange-traded funds and tax-efficient portfolios that are complementary to RhineVest Advisors' offerings, he added.

TruWealth founders Andrew Damcevski and Devon Klumb will be joining RhineVest Advisors as lead advisers and co-owners in the firm.