Alpha & Omega Financial Management Consultants, Inc. is a third-party pension and benefit plans administrator. The firm also serves in a fiduciary compliance role. As such, the firm works with many different types of benefit plans, like small and mid-sized business 401(k)s, executive compensation programs, employee stock ownership plans (ESOPs) and more. However, the firm also works with some private individuals, offering retirement planning and investment services.
Alpha & Omega Financial Management Consultants Background
Alpha & Omega Financial Management Consultants has been in operation since 1974. It’s owned by its employees and an employee-related party. Its founders Peter E. Preovolos and Stella Poulos are still involved with the firm. They oversee a team with more than 140 years of combined experience in the financial services industry. The Alpha & Omega staff collectively holds the following degrees and designations:
- Accredited pensions administrator (APA)
- Accredited investment fiduciary analyst (AIFA)
- Certified public accountant (CPA)
- Certified plan fiduciary advisor (CPFA)
Alpha & Omega Financial Management Consultants Client Types and Minimum Account Sizes
Alpha & Omega Financial Management Consultants serves the following types of benefit plans and their respective participants:
- 401(k) plans
- Pension and profit-sharing plans
- Executive compensation programs
- Health and welfare plans/cafeteria plans
The firm also works with some private clients of both a high-net-worth and non-high-net-worth nature.
Alpha & Omega doesn’t impose a specific account minimum. However, it notes that clients tend to have at least $1 million in investable assets.
Services Offered by Alpha & Omega Financial Management Consultants
Alpha & Omega Financial Management Consultants provides pension and other benefit plans with fiduciary compliance services around investment review and selection, among other tasks. It works with plans governed by the Employee Retirement Income Security Act (ERISA). To provide a full suite of investment advisory services, Alpha & Omega also works with clients’ other financial managers and advisors. The firm also helps some clients remain compliant with safe harbor rules.
Alpha & Omega Financial Management Consultants Investment Philosophy
Alpha & Omega tailors its investment advice to the specific needs and goals of the client. Most of Alpha & Omega’s work relates to compliance, though. In many cases, it works with clients’ other financial advisors to ensure, as it states, that "clients exercise their investment authority and discretionary authority in a manner which is prudent and sound and supports the fiduciary obligation."
Fees Under Alpha & Omega Financial Management Consultants
Alpha & Omega Financial Management Consultants charges an annual fee for its services that's a percentage of assets under management (AUM). These typically vary from 0.50% to 2.00% of AUM. It should be noted that these fees are separate from transaction costs, custodian fees, fund fees and other costs. Fees are billed quarterly, in arrears.
For context, a 2018 study by RIA in a Box shows the average annual advisory fee is 0.95% of a client's AUM.
What to Watch Out For
Alpha & Omega Financial Management Consultants has never faced any legal or disciplinary events related to delivering investment advisory services, according to its SEC-filed Form ADV.
Opening an Account With Alpha & Omega Financial Management Consultants
Headquartered in La Mesa, California, Alpha & Omega Financial Management Consultants can be reached over the phone at (800) 755-5060. The firm also offers an online contact form that you can fill out to have an advisor call you.
All information is accurate as of the writing of this article.
Tips for Finding the Right Financial Advisor
- Need an advisor to help you transition from accumulating savings to preserving capital and earning income? Use SmartAsset's free financial advisor matching tool to link up with as many as three advisors in your area. Get started now.
- Ask prospective advisors what the general profile of their clients are. You want someone who has experience with investment issues at your asset level. For example, an advisor who works mainly with small investors probably doesn't have the know-how or connections to help an affluent investor, say, get into hedge funds.