Question 1

What are your qualifications? What is your education background?

Accepted Answer

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. (*Registration does not imply a certain level of skill or training.)

Question 2

How are you compensated? How will I pay for your services?

Accepted Answer

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 Fees are paid by the client, billed in arrears at the end of each quarter and automatically withdrawn from the account.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 (see our website).

Question 3

If you are going to manage my account, will you obtain my permission every time you buy or sell something?

Accepted Answer

Generally, OMC manages with discretion meaning we can place trades without first contacting the client. Discretion allows us to make a single transaction for multiple clients without having to contact each 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 (see website).

Question 4

How many clients do you currently manage?

Accepted Answer

We interpret this question as, "How do I know you will pay attention to me?" This concern is generally based on prior experience where people felt their investments were not receiving the attention they deserved. 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 (see our website).

Question 5

Will you be the only person working with me?

Accepted Answer

At OMC, we strongly believe in the team approach. Cynthia Scott and I personally work with each and every one of our clients, while Brenda and Sue are also directly involved ensuring our clients' administrative matters are handled as smoothly and efficiently as possible. Each member of the team brings unique qualifications to the benefit of our clients' individual needs (see our website).

Question 6

Have you ever been charged with any breaches?

Accepted Answer

No.

Question 7

What is your approach to financial planning?

Accepted Answer

Most people who come to us have a sense that they could (or should) be doing better. Typically, they have private and/or retirement assets held in various accounts and yet there is no comprehensive plan that integrates all of them. We assist our clients by looking at the entire financial picture and developing, implementing and maintaining a coordinated investment strategy (see our website).

Question 8

What services do you offer?

Accepted Answer

At OMC, we specialize in investment/portfolio management, estate planning, and retirement planning/counseling.  We believe specializing makes us more effective in our core offerings. We also understand successful planning often requires the expertise of others (estate planning attorney, accountant, etc.). We welcome the opportunity to work with our clients other advisors or provide referrals.

Question 9

What is your approach to 401 K plan rollovers?

Accepted Answer

There are many benefits to rolling over a 401k, 403b, or other retirement plan to an IRA including a larger selection of investment options, increased flexibility, simplicity and greater control. However, there may also be circumstances where it is better to keep your retirement account as is. We will review your options with you before recommending a course of action (see our website).

Question 10

How long does the process of rolling over a 401K plan usually take?

Accepted Answer

In general, the process has never been faster although the length of time varies with each plan. Many plans even allow direct rollovers by phone. Whatever the case, OMC will help you every step of the way. From opening your IRA to completing the rollover paperwork, from conference calls to tracking the funds, we handle it all (see our website).

Question 11

Why should I roll over my 401K plan to your firm?

Accepted Answer

There are too many advantages to identify here but coordination would be at the top of the list. For many people, their retirement plan is one of their most significant assets and yet it is not coordinated with their other assets or overall estate plan. We assist our clients by looking at the entire financial picture and developing, implementing and maintaining a coordinated investment strategy.

Gregory Jennings

Our Team