Introduction
OMC Financial Services, Ltd. (“OMC”) is an Investment Adviser registered with the Securities and Exchange Commission (“SEC”). We feel it is important for you to understand how advisory and brokerage services and fees differ in order to determine which type of account or service is right for you.
There are free and simple tools available to research firms and financial professionals at www.investor.gov/crs, which also provides educational materials about investment advisers, broker-dealers, and investing.
What investment services and advice can you provide me?
As an investment adviser, OMC offers investment advisory services to retail investors for an ongoing asset-based fee based on the value of your account. Our advisory services include investment management services and limited consultations on a variety of topics. When we perform investment management services, we provide an evaluation of your current financial model based upon a review of your investment holdings, income needs, and estate planning. Investments are reviewed for their performance and suitability. Investments are bought and sold based upon this analysis. We will regularly monitor your investments on an ongoing basis, as part of our standard services. Please refer to Item 4 of our Form ADV Part 2A for further information.
We manage accounts on a discretionary basis, which means we do not need to call you when buying or selling investments in your account. You will sign an investment management agreement and limited power of attorney giving us this authority. This agreement will remain in place until you or we terminate our relationship. Please
refer to Item 16 of our Form ADV Part 2A for further information. We do not offer proprietary products or limit our advice and services to a limited menu of products or investments. Our minimum account size requirement is $100,000. Please refer to Item 7 of our Form ADV Part 2A for further information
Questions to Ask Us:
What fees will I pay?
Fees and costs affect the value of your account over time and vary depending on certain factors. Please ask our representative to give you personalized information on the fees and costs you will pay. Our standard advisory fee has a max rate of 1.25% annually and is paid in arrears on a quarterly basis. When we provide a limited
consultation, we may charge an hourly rate of $250.00.
The broker-dealer (“custodian”) that holds your assets can charge you a transaction fee when we buy or sell an investment for you. These transaction fees are in addition to our advisory fee. You could also pay fees charged by the custodian for certain investments and maintaining your account. Some investments, such as mutual funds
and exchange traded funds charge additional fees that will reduce the value of your investments over time.
You will pay fees and costs whether you make or lose money on your investments. Fees and costs will reduce any amount of money you make on your investments over time. Please make sure you understand what fees and costs you are paying. Please refer to Item 5 of our Form ADV Part 2A for further information.
Question to Ask Us:
What are your legal obligations to me when acting as my investment adviser? How else does your firm make money and what conflicts of interest do you have?
When we act as your investment adviser, we have to act in your best interest and not put our interest ahead of yours. At the same time, the way we make money creates some conflicts with your interests. You should understand and ask us about these conflicts because they can affect the investment advice we provide you. Here are some examples to help you understand what this means.
OMC’s revenue is from the advisory fees we collect from our clients’ accounts each quarter. We have an incentive to increase the amount of investments we manage which could bias our advice towards investing more rather than paying off debt, however we discuss debt payment as part of our planning process with clients. For additional information on conflicts of interest, please see our Form ADV Part 2A.
Question to Ask Us:
How do your financial professionals make money?
Our financial professionals, Cynthia Scott and Greg Jennings, are compensated on a quarterly basis a portion of the advisory fees that OMC collects from the accounts each financial professional manages.
Do you or your financial professionals have legal or disciplinary history?
No, our firm and/or financial professionals do not have legal and/or disciplinary history. Visit www.investor.gov/crs for a free and simple search tool to research our firm and our financial professionals.
Questions to Ask Us:
Additional Information
You can find additional information about our investment advisory services on the SEC’s website www.adviserinfo.sec.gov by searching CRD #110528. You may also contact our firm at 315-446-8720 to request a current copy of our Form ADV Part 2 or up-to-date Form ADV Part 3 – this relationship summary.
Questions to Ask Us:
