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The McHugh Group, LLC
14650 Detroit Avenue Suite 450
Lakewood, Ohio 44107


P: (216) 529 - 0320
F: (216) 529 - 0424

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Licensed Investment Advisor
 

What is a Licensed Investment Advisor and why should you work with one?

The McHugh Group, LLC is an investment advisory firm with a fiduciary duty to act in the best interests of our clients in managing their investments and making investment decisions on their behalf.  Founder Terrence P. McHugh is a Licensed Investment Advisor in the State of Ohio. 
 
Working with a Licensed Investment Advisor is essential for individuals with significant assets held in IRAs, other retirement and pension accounts, trust accounts and investment accounts.  A Licensed Investment Advisor has a fiduciary duty to act in the best interests of their clients, which means that clients receive objective investment advice.  Stock brokers do not have a fiduciary duty to their clients.  The only duty stock brokers owe to clients is to properly execute trades, and, when advising a client regarding an investment, to make sure the investment is “suitable” for the client’s portfolio. 
 
The McHugh Group, LLC represents clients on a fee only basis, and does not earn additional compensation or incentives from purchases of investment products offered by third parties.  The only compensation we receive is the fee we are paid by our client.  Don’t be confused by brokers who offer similar “fee only” accounts.  When a broker offers a fee only account, the primary allegiance of the broker is to his or her brokerage firm, and ultimately to the shareholders of that firm.  The duty of the broker is to increase firm revenues by offering clients investment vehicles which generate the greatest revenues for the firm, with the only duty to the client being to determine that the investments are “suitable” for the client’s portfolio.
 
It is this difference between Licensed Investment Advisors and stock brokers that is of paramount importance to investment clients.  Clients of The McHugh Group, LLC can be comfortable in the knowledge that we recommend investments, and manage investment accounts, in a manner that is in their best interests.  Our advice is objective and independent of other motives.
 
We work only for our clients, are compensated only by our clients, and do not owe a duty to anyone other than our clients. That is not something your broker can say.
“You should fire your broker and find an investment advisor.  Brokerage firms would like you to think that they provide the same functions as investment advisors.  Many brokers call themselves ‘financial consultants’ or ‘financial advisors’.  But they are not the same as independent investment advisors…an investment advisor’s fiduciary duty is on a higher plane, like that of a lawyer, a trustee, or an executor of an estate.”
Arthur Levitt, Former SEC Chairman

 

 

 

 

 

 

 

 

 

 

 
 
 
 
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