Is Ohana a fiduciary?
YES. We always put our client’s best interest first. We are a federally registered investment advisor under the Investment Advisers Act of 1940. Registration as an investment adviser does not imply a certain level of skill or training. We do not sell any proprietary investment products, charge commissions or have sales quotas. We are flexible in allowing you multiple ways to access our services. See our Client Relationship Summary for more information.
What are the total costs I will pay? Is it expensive?
As a fee-only firm, we are proud to offer transparent pricing. You can pay us an initial fee for our life planning, financial planning and investment consulting and/or you can pay us directly to manage your personal assets. There are no hidden costs and with all of the services that we provide, we are very competitive to the industry for the value that you get.
You don’t need to move assets if don’t want to, but we do offer low-cost investment vehicles and low AUM fees to do this. All costs are included in the fees that we charge. We believe in keeping our business expenses reasonable while at the same time allowing our team to earn a fair salary. With that said, you won’t find fancy artwork on our walls or expensive advertising. We keep things simple by focusing on what matters most, you the client and giving back to the community.
What is Life Planning?
Life planning is the process in which we truly get to know you as a client and guide you through finding your life’s purpose. Once this has been accomplished, we design a financial and investment plan that will allow you to live the life you were meant to live. Life planning is more than investment projections, budgets and spreadsheets that the financial planning industry has focused on.
Is Life Planning for me?
It depends. If you are already living a life of purpose and have a comfortable understanding of wealth planning and investments, you may be able to work directly with one of the low-cost brokerage firms and design your own investment and financial plan. We feel that having a dedicated coach in your corner, however, will help to guide you on your life path.
What commitment does the life planning process require on my part?
Over the course of the first few months in setting up your customized life plan, you will need to commit to at least four meetings. In addition, you will have “homework” that you will need to have prepared for each meeting. In order to get the most out of the life planning process, you need to be 100% committed and willing to do the work in order to build the life you were meant to live.
Is the Life Planning process hard to go through?
For many it can be, but just like most things in life, the more effort you dedicate to it the better your results will be. On top of the work involved, it can be an emotional experience, as you work through past traumas or existing roadblocks. But this is the only way to allow you to get the results you truly want.
Will I have to create a budget or a savings plan?
For most people, a financial and investment plan will be needed. But remember, when you find your life’s purpose and are on the path to achieving your goals, it’s much easier to stick to the plan if your heart is truly in it.
I find financial planning and investing difficult to understand. Will that be the case here?
Our goal at Ohana is to guide you through this process as easily as possible, educating you along the way and simplifying things as much as possible. Our staff are the subject matter experts, but we are dedicated to helping you understand the “what” and “why” of everything we do.
Is Ohana different from traditional investment or wealth planning firms?
YES! While we utilize many of the same tools, investment vehicles, etc. that other firms use, we focus more on the qualitative aspects of building out your life’s plan instead of only on the quantitative. Most investors seeking financial help are only familiar with the existing financial planning model where advisors are trying to sell them services for a commission or trying to get their assets to manage for a fee. This can potentially create conflicts of interest. There is a new way that involves unbiased advice, but more importantly a way to put a plan in place that will guide you to fulfill your life’s purpose and not just try to financially meet a goal.
Do you sell insurance or any other products?
No, we do not. As a fee-only firm, we do not collect any commissions. We are only paid by our clients. However, we guide our clients on any gaps in relation to insurance planning during our financial planning process. If a policy needs to be placed, we can direct our clients to an outside insurance professional. Note: We do not accept any referral fees or “kick-backs” from any referral partners. Our goal is simply to create a connection with a professional who will provide a helpful and easy-to-understand process.
Where is my money held?
Our client’s assets are typically held at FIWS as our designated custodian. We do not take custody of your assets.
Do I need to work at a university or medical establishment to work with you?
While not a necessity, we do our best work with clients in this area.