Alpha & Omega Financial Management Consultants is a third-party pension and benefit plans administrator. The firm also serves in a fiduciary compliance role.
In other words, it doesn’t offer financial planning or investment management services directly to individuals. If you’re seeking this kind of professional, use our SmartAsset advisor matching tool. It recommends up to three local advisors who can meet your individual financial needs.
Alpha & Omega Financial Management Consultants Background
Alpha & Omega 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 130 years of combined experience in the financial services industry. The Alpha & Omega staff collectively holds the following degrees and designations:
- Ph.D. in accounting and finance
- Accredited pensions administrator (APA)
- Accredited pensions representative (APR)
- Accredited investment fiduciary analyst (AIFA)
- Certified public accountant (CPA)
Alpha & Omega Financial Management Consultants Client Types and Minimum Account Sizes
Alpha & Omega serves the following types of benefit plans:
- 401(k) plans
- Pension and profit-sharing plans
- Executive compensation programs
- Health and welfare plans/cafeteria plans
The firm doesn’t impose a specific account minimum. But it notes that clients tend to have at least $1 million in assets under management (AUM).
Services Offered by Alpha & Omega Financial Management Consultants
Alpha & Omega provides pension plans and other benefits entities 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 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. 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 charges fees for their services as a percentage of assets under management (AUM). These typically vary from an annual 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.
What to Watch Out For
Alpha & Omega works with benefit plans such as pensions and corporate 401(k) plans. So it’s not a traditional financial advisor firm that works with individuals to customize their portfolios or manage their investments.
Disclosures
The employees of Alpha & Omega have never faced any legal or disciplinary event related to delivering investment advisory services, according to the Form ADV the firm filed with the Securities and Exchange Commission (SEC).
Tips for Finding the Right Financial Advisor
- Need an advisor to help you transition from accumulating savings to preserving capital and earning income? Use our financial advisor matching tool. It links you with up to three local advisors based on your needs and preferences.
- 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.
All information was accurate as of the writing of this article.
