Q: WHAT WAS THE MOTIVATION TO START O’REILLY WEALTH ADVISORS (OWA)?
John O’Reilly was recruited several times to enter the financial services business. He researched it and discovered it was significantly underserving clients. There was a focus on products rather than client success. It was clear that there was an opportunity to grow in that environment. Helping others reach a more peaceful financial situation has been very satisfying. We marvel we were led in this direction and experience the joy of serving others every day!
Q: HOW DOES OWA HELP ME?
OWA helps people make smart decisions about their money so that they reduce stress, increase their life-long financial security and enhance their overall peace of mind and happiness.
Q: I AM INTERESTED. WHAT SHOULD I BRING TO THE FIRST MEETING?
We’ll email the list of financial documents you need to bring with you to the Discovery meeting. Do the best you can to assemble the documents and we’ll let you know if we need more once we start working together. During our initial meeting we’ll decide on next steps.
Q: HOW CAN OWA HELP US BE inspired about OUR FINANCIAL PLAN?
In our Discovery meeting process we help clients express their deeply held values and connect them to their tangible goals, which brings meaning to each goal. It is humbling for us at OWA to hear and document our clients’ deeply held values.
Q: HOW DO YOU GET STARTED WITH YOUR CLIENTS?
After the Discovery meeting, we put together a plan, designed to achieve clients’ goals developed by a team of experts. Then we guide and encourage our clients to execute the advice in the plan, and keep it updated over time. Rome wasn’t built in a day. The key is steady long-term progress executing the advice and updating it.
Q: WHAT HAPPENS IF PEOPLE DO NOT RECEIVE THIS TYPE OF GUIDANCE?
Our experience is very few people have established tangible goals in writing. Even fewer have a written financial strategy they are steadily executing and updating over time. Everyone should do this whether on their own, or under the guidance of a trusted advisor like us.
Q: WHAT IS OWA’S PHILOSOPHY ON MONEY?
Our view is that money is a means to an end, not an end in itself. That said, money is a necessary tool to accomplish what you wish to accomplish in your life.
Q: HOW DOES OWA ENVISION THE ROLE OF FINANCIAL COACHING?
Have you noticed serious athletes hire a coach? Just like athletic coaches, we help you focus on implementing the advice with encouragement all along the way.
Q: WHAT ARE THE BENEFITS OF HAVING ALL ASSETS UNDER THE SAME MANAGEMENT?
In order for your financial future to be guided properly, all of the components need to work in harmony moving toward your ultimate financial goals, supporting what’s important to you in your lifetime and even your legacy beyond death.
From an asset allocation point of view, multiple advisors managing your investable assets can lead to a skewed asset allocation. This could hurt diversification, add volatility and lower long-term returns, which is not in your best interest.
Q: WHAT ADVANTAGES DOES OWA HAVE OVER “BIG BROKERS”?
We’re fiduciaries with the goal of maximizing the probability that each client achieves their goals. Most brokers are focused on generating more commissions and gathering assets. Our documented processes incorporate collaboration of three independent experts to ensure the advice contains their collective wisdom. We make financial information accessible to the most number averse. Behavioral studies show clarity leads to decisions and action - which lead to results.
Q: IS OWA MADE UP OF A PARTICULAR CLIENT TYPE OR SIZE?
Yes and no. We are flexible on size. More important is choosing clients who are serious about success, want the best advice, and will act on the advice. We desire the best for each client. Just like thinking about physical fitness won’t make you fit, it’s implementing the advice that produces the results. We attempt to only bring on “implementers.”
Q: I HEARD THAT ABC STOCK IS REALLY HOT, CAN WE WORK TOGETHER QUICKLY AND MAKE THAT OUR FIRST MOVE?
It sounds interesting, yet our approach is different. Our Evidence-Based investment style is based on time proven and tested principles. Since we are a fiduciary registered investment advisor, you grant us discretion as the experts to make investment decisions. We make sure you have a highly diversified portfolio matched to your risk profile, goals and time horizon. As part of our process for investing your assets, we complete a risk tolerance profile together and we match your risk to the portfolio risk.
Q: WHAT IS BEHAVIORAL FINANCE?
Behavioral finance is a field of study whose premise is that financial success can often be undermined by our human behavior. Investor behavior has a much larger impact on investor success than what stock you pick or the latest Dow Jones figures.
Q: WHAT ARE THE MOST COMMON INVESTMENT MISTAKES THAT OWA HELPS PEOPLE AVOID?
Moving money from a solid fund or stock because of a temporary setback.
Making impulsive decisions to buy a stock based on a casual comment from an acquaintance.
Purchasing mutual funds/stocks based on their latest 1-year or 3-month performance.
Trying to time the markets or gamble to achieve short-term gains.
Q: HOW DO YOU APPROACH THE INEVITABLE MARKET DOWNTURNS?
Many see stock market downturns as a negative when in fact, for the long-term committed investor; they are a fantastic opportunity to rebalance and invest more. Our clients have benefited from every downturn.
Q: HOW OFTEN DO WE MEET, ONCE WE BECOME CLIENTS?
We will meet one to two times per year according to your situation, and could have a special meeting if the situation dictates. As we monitor progress to plan, we will let you know how your plan is tracking with your commitments. We will help you avoid the typical mistakes that almost all investors make.
Q: WHAT DOES THE INITIAL FINANCIAL PLAN COST?
Bottom line, our fees are in a reasonable range while providing great value. The initial financial planning, depending on the complexity of your situation will range from $800 to $3,500.
Q: WHAT ARE ASSET- BASED FEES?
If you hire us to implement the plan, our fees are primarily asset-based fees. Asset-based advisors charge a percentage of the assets under management. The fee percentage reduces as the asset amount increases. Before we make the decision to work together we will provide you with a complete disclosure of fees. If you hire us for investing only, you pay the asset-based fees and no financial planning fees.
Q: I AM INTERESTED. WHAT CAN YOU TELL ME ABOUT YOUR BACKGROUND?
Our team collectively has over 400 years experience in managing assets, financial planning, insurance, estate planning and tax planning/reporting. We represent the crème de la crème of the industry. John O’Reilly started OWA in 2006.
Prior to that John ran divisions in global companies for many years, including managing teams of professionals and managing complex global projects with P&L responsibility.
Q: WHAT IS YOUR PRIMARY FOCUS AT OWA?
At O’Reilly Wealth Advisors, as your Trusted Advisor, our primary expertise is in qualifying the experts, and collaborating with them in creating and delivering a comprehensive financial solution for you. It is a powerful business and service model that only the top financial advisors across the country are using.
Q: WHAT MAKES OWA UNIQUE?
Most financial advisors do not have the business experience and project management experience to execute this type of practice. John’s experience prior to starting OWA is a huge advantage. As shared earlier, it is humbling for us at O’Reilly Wealth Advisors to learn what’s most important in our clients’ lives.
It’s also an honor and responsibility we take seriously.