Find a Financial Advisor in Franklin County

Franklin County at a glance

Franklin County is home to about 1.36 million people, making it the largest county in Ohio. Columbus, the state capital, sits at its center, with Dublin, Hilliard, Upper Arlington, Westerville, Gahanna, Grove City and Reynoldsburg around it. According to the U.S. Census Bureau, 2020 to 2024 American Community Survey, median household income is $75,176 and median home value is $288,400. The median age is 34.8, 13.0% of residents are 65 or older and 42.1% of adults hold a bachelor’s degree or higher. Median gross rent is $1,302, owners with a mortgage pay a median of $1,781 a month, and only 52.8% of homes are owner-occupied.

Where the paychecks come from in central Ohio

The economy in Franklin County leans on sectors that do not rise and fall together. The Ohio State University and its Wexner Medical Center employ tens of thousands. Nationwide, one of the largest insurers in the country, is headquartered in Columbus, and JPMorgan Chase runs a large operation here. Nationwide Children’s Hospital and OhioHealth add health care jobs. Bath and Body Works, Wendy’s, Cardinal Health and OCLC are among the companies based in Columbus or Dublin. State government employs thousands more downtown.

That variety is a planning advantage. A household with one spouse in state government and another in insurance or health care has two different retirement systems, two benefit packages and often two different tax questions. Sorting them out early prevents expensive mistakes later.

The Ohio tax puzzle: state, city and school district

Ohio taxes income at the state level on a graduated scale, and the top rates have been falling in recent years. On top of that, most Ohio cities levy an income tax on wages. If you live in Gahanna and work in Columbus, both cities may have a claim, and credits usually reduce the overlap. Some school districts add a separate income tax as well, so two neighbors in different districts can have different bills.

Ohio has no estate tax and no inheritance tax. Social Security benefits are not taxed by the state, and there is a retirement income credit for some pension and IRA income. Property tax levies are voted on by residents and revalued on a schedule, which means school and county levies can change what you pay. Because all of these rules change, confirm current rules with the Ohio Department of Taxation or a tax professional.

Financial advisors in Franklin County and what the fee options mean

Columbus has a deep supply of financial professionals thanks to its insurance and banking base. You will find independent firms in Dublin and Easton, big national brokerages, bank trust departments and one-person practices working from Westerville. That range is helpful, but it also means advisors differ widely in how they are paid.

A flat-fee planner charges a set price for a written plan. An asset-based advisor charges a yearly percentage of the money managed. A commission-based agent earns from the products sold. Ask for the total cost in dollars and ask whether the advisor puts your interest first at all times when giving advice. Our guide to financial advisors explains how to compare these models.

Housing in a county that is still growing

With a median home value of $288,400, Franklin County is more affordable than many metro areas of its size, but prices have risen quickly. Upper Arlington and Dublin sit at the high end, with older homes on large lots in Upper Arlington and newer subdivisions in Dublin. Hilliard, Grove City and Reynoldsburg offer mid-priced options, and the Short North, German Village and Clintonville draw buyers who want a walkable neighborhood near downtown.

Because nearly half of households rent, many people here are choosing between renting longer and buying now. A couple in Grove City earning about $120,000 together might look at a $300,000 home with a payment close to the $1,781 median. A planner can check whether that fits alongside a 401(k) contribution and a cash reserve. See our budgeting and saving guide for a place to start.

Wealth management in Franklin County for owners, executives and physicians

Wealth management means one relationship covering investments, taxes, estate documents and insurance. In central Ohio the people who use it include business owners who have built a company and are thinking about a sale, executives with stock compensation, and physicians at the university and hospital systems whose income rises quickly after training.

Consider a dentist in Hilliard who owns a practice. She is 52, has $1.8 million invested and wants to sell in ten years. A wealth manager would look at how to structure the sale, how to invest the proceeds, and what a will and trust should say. The fee is usually a percentage of assets and falls as balances grow, so ask what you get for it.

Retirement planning in Franklin County with the Ohio pension systems

Central Ohio has a large public workforce. Teachers in Columbus City Schools and the suburban districts belong to the State Teachers Retirement System. City, county and state employees belong to the Public Employees Retirement System. Others belong to the School Employees Retirement System or the Ohio Police and Fire Pension Fund. Each system has its own rules about service years, benefit formulas and health coverage, and many of these workers do not pay into Social Security through those jobs, which affects spousal benefits.

A public employee in Reynoldsburg who retires at 58 with 30 years of service has a very different plan from a private-sector worker with a 401(k). A planner who knows how these systems work can help you choose between payout options and plan for the gap before Medicare. Our retirement planning guide covers the national basics.

Financial planners in Franklin County for students, new graduates and young families

Tens of thousands of students attend Ohio State, Columbus State, Capital University, Otterbein University in Westerville and Franklin University. Many stay after graduating, which is why the county has such a young population. For these households a financial planner often starts with student loans, an emergency fund and the first 401(k).

A 28-year-old with $35,000 in federal student loans and a $62,000 salary needs a different plan from a 40-year-old couple with two children. The planner builds a written plan with specific targets, such as saving 10 percent of pay, paying down a loan on a set schedule, and starting a college fund. Our college savings guide explains Ohio 529 options in general terms.

Life insurance in Franklin County

Insurance is a major employer in Columbus, which means many local households have some contact with the business. That does not mean every policy is right for them. Term life insurance covers a set number of years at a low cost, and it fits most young families with a mortgage and children. Permanent life insurance costs far more and fits narrower goals like estate planning.

Group coverage through an employer is a useful base, but it often ends when you leave the job. A couple in Westerville with two children might want a 20-year term policy in a size that covers a mortgage balance and several years of income. Our life insurance guide explains how to compare quotes.

Not sure how much coverage you need?

An advisor who serves Franklin County can help you size a policy to your family’s real costs. The first call is free.

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Investment advisors in Franklin County

Investment advisors manage portfolios for a fee and must register with the SEC or with their state. In Ohio, smaller advisors register with the Ohio Division of Securities. You can check any advisor through the SEC adviser search site and read the Form ADV for fees and conflicts.

Ask how the portfolio is built, what the funds cost and how often the advisor rebalances. For central Ohio employees with stock plans at a large employer, ask how the advisor handles concentration and taxes on sales. Our investing guide explains why fees matter so much over decades.

Tornadoes, winter storms and river flooding

Franklin County sits in flat central Ohio, and the main weather risks are severe thunderstorms with hail and wind, occasional tornadoes, ice storms and heavy snow. The Scioto and Olentangy rivers and their creeks can flood low areas, and basement water from heavy rain affects many older homes.

Standard homeowner policies exclude flood, and many exclude sewer backup unless you add a rider. Wind and hail deductibles may be a percentage of the home value, so read the declarations page. A planner can help you find coverage gaps and decide how large an emergency fund to keep for deductibles.

Commutes, airports and the growth around Columbus

Interstates 70, 71 and 270, with the outerbelt around the city, carry most commuters, and John Glenn Columbus International Airport and Rickenbacker International Airport support business travel and logistics employment. Growth around the county’s edge, including new employers in neighboring counties, means some Franklin County residents commute outward as well as inward.

That matters for taxes. If you live in one city and work in another, you may owe income tax to both before credits. Remote work can change your tax picture too, so tell your tax professional where you actually work each day.

How to choose a financial advisor in Franklin County

Start by writing down what you want help with. Then try this sequence:

1. Look up each advisor on the SEC adviser search site and read the Form ADV.
2. Get the fee in dollars for your balance as well as the percentage.
3. Ask whether the advisor acts as a fiduciary at all times.
4. Ask who the custodian is and who you will talk to on a regular basis.
5. Interview two or three advisors before you choose.

Good advisors work with your attorney and CPA. Our estate planning guide is helpful background, especially if you own a business or have children.

Areas we serve in Franklin County

Advisors who serve Franklin County work with clients by phone or video across the county, including Columbus, Dublin, Gahanna, Grove City, Hilliard, Reynoldsburg, Upper Arlington and Westerville, and communities such as Bexley, Worthington and Whitehall. Advisors who serve the Franklin County area meet clients by phone or video.

Where Franklin County residents go next

Columbus attracts people from smaller Ohio towns, from other states and from abroad, and it also sends people out. Parents of grown children sometimes sell a house in Upper Arlington or Worthington and move to a smaller home, a condominium near the Short North or a warmer state. Others keep the Ohio house and add a place near Lake Erie, Hocking Hills or Florida.

Each choice has a financial side. Selling a long-held home can create a taxable gain above the federal exclusion for primary residences, a second home adds property tax, insurance and upkeep, and moving to another state changes which income tax applies. A planner can compare the real cost of staying with the cost of moving, using your numbers instead of a rule of thumb. Bring your last tax return and your most recent mortgage statement to a first meeting, along with a rough sense of what you hope to spend in retirement.

Frequently asked questions