Member Spotlight: O'Reilly Wealth Advisors LLC

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August 13, 2018

Tell us about your company.

We started in early 2007 serving individuals and couples with financial planning and investing. We are registered investment advisors (RIA) - our own firm from ground up. We collaborate with our clients' other professionals so that the advice provided contains the collective wisdom of at least 3 of us.

As we have enjoyed the amazing experience of bringing financial peace to our individual clients, we desired to help even more people. We realized that for most people, their 401(k) account is their only investment outside of their home, if they are so fortunate. Our research showed that small 401(k) plans are underserved with non-fiduciary brokers serving them, and high hidden asset-based fees. So we teamed up with a large RIA firm that specializes in retirement plans to bring advisory consulting services to the small 401(k) market in Southern California. Together we are bringing the same consulting service to small 401(k) plans that until now was only available to large plans. The plans to which we consult have lower fees and better fund lineups resulting in a higher likelihood of more money in retirement. Since we reside inside the plan, taking full responsibility for the fund lineup, we relieve a portion of the fiduciary liability falling on the company owner, board and leadership.

 

What products or services does your business provide?

Financial planning advice and implementation, investment advice and 401(k) fiduciary consulting.

 

What was the most memorable or successful moment in your business' history?

Each time a client's net worth doubles, it brings smiles to our faces!

 

Tell us an interesting fact about your business.

If a client enjoys dogs, then with their approval and request, our Irish Wolfhound will join their meeting.

 

What tips/advice can you offer that is related to your business' industry?

The financial services industry is filled with deception. We saw a great opportunity to enter the industry as a transparent fiduciary and make a big difference. We did that. And interestingly, the industry seems to be following us as more and more brokers and registered reps are desiring to become fiduciaries.

The deception primarily found in the big companies, often comes in the form of hidden and high fees. Selling you "Product A" may give more commission to the salesperson vs "Product B". But Product B may be better for you. Always understand the base motivation of someone offering you financial services, products or advice. How are they paid; exactly, how much and where does it come from. What licensing do they have? Never be afraid to confront the salesperson! Always check their licensing record! Loyalty goes towards where the money is coming. Commission paid by a company or product vs. fees paid by you. To the general public it may seem as if their is no difference - but in fact the difference is vast.

 

Do you have any upcoming events or information you want your fellow Chamber Members and the community to know about?

We don't have any major events currently planned. We are always willing to have a casual "get to know each other" meeting. We also always willing to provide some initial free analysis and are flexible in what we do and how we deliver that analysis. So don't be shy to ask our opinion of an aspect of your situation whether it be a personal finance question, or a question from someone overseeing their company's 401(k)/403(b) or other qualified plan.


 

For more information on O'Reilly Wealth Advisors LLC visit https://chamber.sdbusinesschamber.com/list/Member/o-reilly-wealth-advisors-llc-33233.

Contact:
John O'Reilly, President
760-804-0910