Not all financial services companies are the same. Registered Investment Advisors* are held to strict standards and have a fiduciary duty to act in their clients best interests.
An independent fee-only advisor is able to avoid conflicts of interest since the advisor is compensated by the client. We work only for you, and that means your success is our success.
OMC is a fee-only practice. Fees are paid by the client, billed in arrears at the end of each quarter and automatically withdrawn from the account. Higher asset levels qualify for fee break-points and in those cases where clients have multiple accounts with us we aggregate them to determine the appropriate breakpoint. For example, a husband and wife may each have an IRA account as well as a trust account and a joint account. The combined total of all of these accounts determines the fee assessed.
OMC Financial Services was founded in 1982 and has been a Registered Investment Advisory firm since 1988. Registration does not imply a certain level of skill or training.
Most people who come to us have a sense that they could (or should) be doing better. They are often challenged to find the time or acquire and maintain the expertise needed to comfortably manage their investments. Typically, they have private and/or retirement assets held in various accounts and yet there is no comprehensive plan that integrates all of them. It is not at all uncommon for us to meet with people who have an assortment of individual, joint, IRA and trust accounts, etc. We assist our clients by looking at the entire financial picture and developing, implementing and maintaining a coordinated investment strategy. If this sounds like you we can help. Or, if you have worked with a major financial institution and felt that you were not receiving personal attention, then we may be the answer.
You want a trusted partner whose interests are aligned with your own. OMC Financial Services is an independent, fee-only Registered Investment Advisory firm (Registration does not imply a certain level of skill or training). Our commitment focuses on providing objective investment management and advice delivered with exceptional service. Cynthia and Greg have over 60 years of combined experience and are prepared to help you define your goals, create strategies for achieving them, and avoid critical financial mistakes along the way. They will also coordinate your various investments/accounts, monitor events that might change your ability to reach your goals and take whatever actions are deemed appropriate.
All client accounts are discretionary and actively managed. By written agreement, you provide limited authorization for all actions in your account(s), such as placing trades in your account (discretion), distribution of funds to you, or withdrawal of management fees.
All OMC accounts held at Schwab Advisor Services are managed with discretion meaning we can buy or sell securities without first contacting the client. When possible we make purchases and sales in “blocks” to ensure that everyone receives the same price regardless of portfolio size. Discretion allows us to make a single transaction for multiple clients without having to contact each and every client beforehand. Although all accounts are discretionary, your account is registered in your individual name and all trade confirmations and statements are sent directly to you. OMC is not a custodian; Charles Schwab & Company serves as a custodian.
For many, their largest investment is their employer’s retirement plan. However, little, if any, guidance is available. We can help. Unlike numerous other practices, OMC has the capability to monitor, manage and report on assets held outside our firm and coordinate them with your personal assets so all of your investments are working together.
We are sensitive to tax considerations when transferring private accounts. Each taxable account is evaluated for capital gains/losses, penalties or surrender charges and any potential impact will be explained to you. We do not require selling assets before they are transferred. In many cases, assets can be transferred from one advisor to another without selling.
There are no tax consequences to move your IRA, Roth IRA, 401(k), or 403(b) if accounts are transferred via trustee-to-trustee transfer or direct rollover. Again, in many cases, an IRA or Roth IRA account can be transferred from one advisor to another without selling.
We evaluate a variety of factors such as economic conditions, tax policy, individual company news, etc. to determine what types of securities should be held at any given time. We identify trends and select sectors and companies that should benefit from those trends.
In addition to stocks and bonds, we may also add commodities, real estate investment trusts (REITs), master limited partnerships (MLPs), etc. Securities may be held individually or through mutual funds and/or exchange traded funds (ETFs).
For diversification, we normally invest only 3-5% of a total portfolio in any given individual security although mutual funds and exchange traded funds (ETFs) may represent a larger percentage. We generally follow a buy and hold strategy, purchasing companies we would like to own for 3-5 years or longer.
People often ask us “How many clients do you have?” though most of the time they are not looking for a number at all. Usually they are asking “How do I know you will pay attention to me?” This concern is generally based on prior experience where they felt their investments were not receiving the attention they deserved either because their portfolio was not large enough or the advisor had too many clients to personally service. OMC has implemented a process that directly addresses this concern for the benefit of all of our clients, regardless of portfolio size or number we serve. Let's Talk to learn more.
OMC will furnish you with client letters detailing your investments in paper format or electronic quarterly statements. Separately, Schwab will provide your choice of paper or electronic monthly statements and trade confirmations. We attempt to review with each client at least annually; however, you can request to meet with us at any time.
Most people have more questions than they have answers. Our role is to assist you in developing a workable investment program that is personalized for your unique situation. Our initial meeting is a FREE CONSULTATION where we gather important information about you, your financial situation and your objectives in seeking out OMC. Are you about to retire, already in retirement, a recent widow or widower, the beneficiary of an inheritance or had other lifestyle changes? Understanding you and your financial needs are essential before any recommendations are made.
We often have clients who retire to another location or move due to a job change. OMC has clients throughout the United States and improving technologies make staying in touch easier than ever.
If you would like to learn more, Let's Talk. We’ll meet, discuss your concerns and see if OMC Financial Services is the right partner for you.