TGIF -

We are happy you are here.

There's something that happens when we have the opportunity to sit down with local business owners, community leaders, and people who genuinely care about the future of Northwest Ohio.

We start talking ‘shop’. One conversation leads to another. Ideas start connecting. Someone shares what they're building, another talks about an opportunity they see, and before long, we're reminded just how much is happening across this region.

There's a certain flow to those conversations that's hard to describe.

And if you've ever walked away from a meeting feeling like you just closed a massive deal, even though no deal was actually made, you know exactly what we're talking about.

That's how we feel sometimes. Energized by the people we've met, excited about what's being built, and already looking forward to the next conversation.

It's one of the things we appreciate most about building Toledo Money.

Because the more time we spend with the people who are investing in, leading, and advocating for Northwest Ohio, the more convinced we become that this region has a story worth telling, and one that deserves a much bigger audience.

This week's edition is a pretty good example.

Two Northwest Ohio financial advisory firms, SJS Investment Services and TFO Wealth Partners, earned spots on CNBC's 2026 Financial Advisor 100 list, selected from an initial pool of more than 40,000 firms nationwide.

We're also covering earnings from three regional giants: Marathon Petroleum, The Andersons, and Owens Corning. From surging energy profits to a $915 million acquisition and continued housing market challenges, their results reveal the scale and complexity of businesses headquartered right here.

And that's the bigger story.

There's a persistent narrative that communities like ours are too small to compete nationally, that the best opportunities require moving somewhere bigger.

Yet Northwest Ohio continues to demonstrate a pretty special formula: the opportunity to build something meaningful, compete nationally, and enjoy a quality of life at a fraction of the cost of many major markets.

That formula takes private businesses investing and creating jobs, public institutions enabling growth, and nonprofits strengthening our communities. Each has a responsibility, and the greatest opportunities emerge when their efforts connect.

That's what we hope to bring you each week. Not just the headlines, but the context, the people behind the decisions, and a little of the energy we experience firsthand.

There are challenges ahead, no doubt. But perhaps we should spend a little less time asking whether Northwest Ohio can compete and a little more time recognizing where it already does.

Northwest Ohio is open for business. And if you're paying attention, there's a lot to be excited about.

Thanks for reading, sharing these stories, and being part of a community that believes in what this region can become.

A shoutout to Joe Cappel, Vice President of Business Development at Toledo-Lucas County Port Authority. Joe has been a wealth of knowledge on helping tell the stories that people should know about the work being done by the TLCPA. He is responsible for working with the Port Authority’s existing and potential business partners in developing and expanding business opportunities in the Toledo Region. Thank you for what you do Joe!

Owens Corning | $OC ( ▼ 2.77% )

Dana Incorporated | $DAN ( ▼ 6.16% )

The Andersons | $ANDE ( ▼ 0.34% )

Owens Illinois | $OI ( ▼ 1.64% )

Welltower Inc. | $WELL ( ▼ 1.03% )

Marathon Petroleum Corporation | $MPC ( ▼ 3.91% )

First Solar | $FSLR ( ▲ 0.64% )

Ranked No. 13 on CNBC's list of America's top financial advisors, the Sylvania-based firm credits its success to employee ownership, Midwestern values, and relationships built over three decades.

What does it take for a Northwest Ohio business to rank among the nation's leading financial advisory firms?

For Sylvania-based SJS Investment Services, the answer isn't a massive marketing budget, a Wall Street headquarters, or the backing of a private equity firm.

It's something much closer to home: people, relationships, and trust.

SJS recently earned the No. 13 position on CNBC's 2026 Financial Advisor 100 list, standing out among 41,578 registered investment advisory firms initially considered for the ranking.

For a business founded in 1995 that now manages approximately $3.2 billion in client assets as of September 30, 2026, the recognition is significant. But the story behind its growth may be even more compelling.

SJS Investment Services | By the Numbers:

_{AUM as of September 30, 2026}

CNBC's ranking evaluates firms using factors including regulatory history, assets under management, years in business, employee counts, and geographic reach. Firms do not pay for placement, and the ranking does not measure investment returns.

During a conversation with Toledo Money, SJS leadership highlighted several characteristics it believes have contributed to the firm's success.

The first is scale. Over three decades, SJS has grown into a multibillion-dollar investment advisory business while maintaining its headquarters in Northwest Ohio.

The second is its regulatory record. According to SJS, the firm has operated for more than 30 years without a customer complaint filed with a regulatory agency.

The third is its national reach. SJS serves clients in more than 40 states, extending its relationships with families and institutions well beyond Northwest Ohio. The company maintains offices in Sylvania and Perrysburg, Ohio; Scottsdale, Arizona; and Chicago, Illinois.

While CNBC does not disclose the precise weighting of each factor, the firm's history, scale, and national presence align with elements of the ranking's published methodology.

Despite its national presence, SJS remains deeply connected to Northwest Ohio.

According to the firm, 18 of its 26 professionals live and work in the region, representing more than two-thirds of its workforce.

That is a meaningful distinction for a business managing billions of dollars on behalf of clients across the country.

SJS attributes much of its growth to the people within its organization and the trust they've established with clients. Rather than relying heavily on advertising, the firm says referrals have been a primary driver of new business.

Its leadership believes Midwestern values, consistent execution, and a commitment to client service have helped establish that trust.

In an industry where financial relationships can span generations, reputation matters. For SJS, those relationships have become both a foundation for growth and a competitive advantage.

The result is a nationally recognized financial services business that has maintained a substantial majority of its workforce in Northwest Ohio while serving clients nationwide.

Another distinguishing characteristic of SJS is its ownership structure.

The company is 100% employee-owned and is not backed by private equity, an increasingly notable distinction as consolidation continues across the wealth management industry.

For advisory firms, ownership can influence how businesses approach growth, investment, and long-term decision-making.

Outside investment can provide capital for expansion, acquisitions, and new capabilities. However, outside investors may also introduce financial objectives that differ from the long-term interests of clients.

SJS has chosen to maintain an ownership structure that gives its employees a direct stake in the company's future.

For the firm, independence is more than an ownership designation. It is part of its commitment to maintaining its culture, relationships, and long-term approach to serving clients.

In a financial services industry where scale and consolidation are increasingly important, SJS believes its employee-owned model provides a different path forward.

SJS's recognition highlights an often-overlooked part of Northwest Ohio's economy.

While the region is widely associated with manufacturing, logistics, and industrial investment, businesses like SJS demonstrate its ability to support nationally competitive professional services firms.

These companies may not generate the same headlines as a new manufacturing facility or major industrial expansion, but they represent another important component of the regional economy: specialized professional talent serving national markets.

The billions of dollars SJS manages don't necessarily represent wealth created within Northwest Ohio. However, the firm's growth demonstrates that specialized talent, national client relationships, and significant business operations can remain rooted here.

And SJS wasn't the only local firm recognized.

Maumee-based TFO Wealth Partners ranked No. 95 on CNBC's 2026 Financial Advisor 100 list, giving Northwest Ohio two firms among the nation's top 100 in this year's ranking.

Together, their recognition points to a broader regional strength that can sometimes be overshadowed by Northwest Ohio's industrial identity. For SJS, the recognition reflects more than three decades of building relationships, developing talent, and maintaining its independence.

For Northwest Ohio, it's another reminder that economic success doesn't always arrive through a new factory, major relocation, or groundbreaking ceremony. Sometimes, it's a business that was built here, stayed here, and found a way to compete nationally.

Marathon Petroleum's profits surge, The Andersons makes a $915 million expansion play, and Owens Corning confronts a challenging housing market.

What can three of Northwest Ohio's largest companies tell us about the direction of the economy? Quite a bit, as it turns out.

This week, three companies headquartered in Findlay, Maumee, and Toledo reported their third-quarter financial results. Their earnings offer a glimpse into the opportunities and challenges shaping the broader economy heading into 2027.

THE WEEK IN NUMBERS

Different financial metrics; not directly comparable. Marathon's reported net income includes transaction-related effects, so it should not be treated as purely recurring refining profit.

Marathon Petroleum ($MPC) reported $7.4 billion in quarterly net income, compared with $1.4 billion a year earlier. Refining margins were significantly stronger, and its refineries operated at full reported capacity utilization.

MARATHON PETROLEUM | Q3 2026

The stronger margins highlight a profitable moment for refining, but they do not necessarily indicate that consumers are buying substantially more fuel. Marathon is also reshaping its portfolio, announcing a multibillion-dollar refinery asset sale and plans to direct capital toward other investments.

For Northwest Ohio, the question is whether corporate profitability translates into investment, hiring, and supplier activity in and around Findlay. Those local effects cannot be established from consolidated earnings alone.

The Andersons (ANDE) reported record third-quarter net income of $46.4 million, compared with $20.1 million a year earlier. Its Renewables business benefited from ethanol economics and federal clean-fuel incentives.

THE ANDERSONS | Q3 2026

Then came an even larger development: The Andersons announced an agreement to acquire Harvestone Low Carbon Partners for $915 million, adding ethanol assets in North Dakota and Indiana.

EXPANSION WATCH

$915M

Proposed acquisition of Harvestone Low Carbon Partners

That is a national investment decision by a Maumee-headquartered business. It also demonstrates how agricultural companies are expanding into energy and carbon-related markets. The acquired facilities are outside Ohio, however, so direct local employment and capital effects should not be assumed.

Owens Corning (OC) reported $2.49 billion in quarterly sales, down 7% year over year. Roofing and Doors experienced particularly difficult demand conditions, while Insulation grew.

OWENS CORNING | Q3 2026

The company also reported a GAAP net loss that included a substantial noncash impairment in its Doors business. These results suggest pressure in national residential building-products markets, not necessarily an equivalent decline in Toledo-area homebuilding.

These results do not describe one economy moving in a single direction. They show energy and renewable fuels generating opportunity while housing-related manufacturing contends with weak demand. They say, ‘new home starts, or the lack thereof, indicate a weakening economy and impending correction’. Time will tell, as signs of a K-shaped economy continue to become more and more prevalent.

Furthermore, the results also highlight Northwest Ohio's influence beyond its borders. From Findlay, Maumee, and Toledo, corporate leaders are allocating capital and shaping industries across the country.

The question heading into 2027 is how Northwest Ohio's biggest enterprises’ growth translates into investment, employment, and opportunity in the region they call home.

Here are a few headlines we are snacking on

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