Omc Financial Services LTD

CRD#110528
Investment Advisor Firm

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Overview

Omc Financial Services LTD operates as an advisory company headquartered in Syracuse, New York. It handles $183.8 million in total assets throughout 540 accounts, making it a mid-tier financial advisory firm in the country by assets under management (AUM). The company has a small team, including 3 financial advisors. Omc Financial Services LTD does not act as a registered broker-dealer, meaning the firm cannot buy and sell securities for its accounts and those of its clients and instead must go through a broker-dealer company to do so. Securities are defined as exchangable fiscal assets like options, bonds and stocks.

Omc Financial Services LTD oversees most of the company's accounts in a discretionary manner. Discretionary management means that a portfolio manager has the discretion to make buy and sell judgments for the client's account without requiring client approval. It also administers seven non-discretionary accounts with a total of $336,632 in AUM. The investment advisory firm's average account size is $340,405. The typical financial advisor at Omc Financial Services LTD manages around 180 client accounts.

The firm's main office is located at 5789 Widewaters Parkway, Syracuse, New York 13214. Omc Financial Services LTD is registered to serve investors across 4 states, including Florida, New York, South Carolina and Texas.

Assets Under Management

$183.8 million

Number of Advisors

3

Disclosures

No

Office Location

5789 Widewaters Parkway
Syracuse, NY 13214

Omc Financial Services LTD by the Numbers

Total Assets Under Management

$183.8 million

National Average: $8.6 billion
Total Number of Employees

5

National Average: 64
Total Number of Accounts

540

National Average: 375,227
Average Account Size

$340.4 thousand

National Average: $23.0 thousand
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Fee Structure

Financial advisory fees typically vary depending on the type of financial services provided. Fees billed by the firm most likely include any blend of the following fee structures: asset-based or hourly. The firm does not participate in a wrap fee program, in which the firm offers a service bundle for a single fee.

Available

  • Offered by 69% of firms

    Percentage of Assets

    Show Explanation

    This fee, which is the most common fee type charged by advisors for portfolio management, is based on the amount of assets you have under management. Also referred to as an asset-based fee, this fee typically ranges from 0.50%-2.00% of AUM annually. You'll typically pay a lower rate the more assets you have under management.

  • Offered by 21% of firms

    Hourly

    Show Explanation

    Like a lawyer, a financial advisor may charge you by the hour. This can be helpful if you are only looking for short-term or one-time advice. Rates typically range from $100-$300 per hour, depending on the complexity and level of services needed.

Unavailable

  • Find one of the 1% of firms that offer this fee type

    Commissions

    Show Explanation

    Occasionally, advisors earn commissions from selling financial products, such as securities or insurance policies, or making certain referrals or transactions. Advisors who earn commissions may be incentivized to make certain recommendations to clients in order to make a commission. Fee-only advisors do not earn commissions, while fee-based advisors may.

  • Find one of the 26% of firms that offer this fee type

    Performance-based

    Show Explanation

    Advisors only earn performance-based fees if a portfolio outperforms a defined benchmark. This fee may be calculated in a number of ways but most commonly is charged as a percentage of investment profits. Performance-based fees may incentivize advisors to make riskier decisions in order to generate higher returns.

  • Find one of the 0% of firms that offer this fee type

    Subscription

    Show Explanation

    Firms generally charge this fee for educational materials provided, such as a monthly magazine. This can be useful if you want to learn about investing or financial management on your own.

  • Find one of the 32% of firms that offer this fee type

    Fixed

    Show Explanation

    Fixed fees are a one-time, lump sum charged for a specific service, like the creation of a financial plan without subsequent implementation. This can be useful if you only need advice for one specific purpose, rather than a long-term advisor. Fixed fees usually range from $1,000 to $3,000.

  • Find one of the 10% of firms that offer this fee type

    Other

    Show Explanation

    Firms can sometimes charge customers using non-traditional fee structures. See this firm's Form ADV for more details.

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Types of Clients

It works with retail investors and high net worth investors. Out of its 540 clients, Omc Financial Services LTD's largest client group is retail investors, though it also serves 67 high-net-worth individuals. The SEC defines a high-net-worth individual as an individual who has at least $750,000 under management or a net worth of at least $1.50 million or who counts as a "qualified purchaser" (a standard met by having at least $5 million in investments). None of the company's accounts reside abroad.

  • High-Net-Worth Individuals* - 27.02%
  • Other Individuals - 72.98%
  • Corporations - 0%
  • Charitable Organizations - 0%

* The U.S. Securities and Exchange Commission (SEC) defines a high-net-worth individual as someone who has at least $750,000 under management.

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Disclosures

Omc Financial Services LTD does not have any disclosures.

Please visit its Form ADV for more details.

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Financial Advisors at Omc Financial Services LTD

Gregory Jennings
Syracuse, NY
Brian Jennings
Syracuse, NY
Cynthia Scott
Syracuse, NY

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