Royal Oak Financial Advisors, LLC (Royal Oak)


Royal Oak Financial Advisors, LLC is a large advisory firm based in Royal Oak. It manages $110 million of regulatory assets for 700 client accounts. It has been registered with the SEC as an adviser since 2018 and has operated in the jurisdiction of Michigan.

Royal Oak Financial Advisors provides financial planning services, portfolio management for individuals and small businesses, and pension consulting services. It prepares financial plans for less than 10 clients. On top of advisory services, the firm doesn't engage in other business activities.

Royal Oak Financial Advisors: assets under management

The assets under management (AUM) of Royal Oak Financial Advisors, LLC is $110 million, all of which is managed in discretionary accounts. The firm's AUM has grown by 1% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $110 million in discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $157.14 thousand each.

Investments

The firm invests in exchange traded securities the most. They account for 75% of the total AUM. The second-largest asset type is state and local bonds, which make up 10% of the firm’s portfolio. Investments in investment grade corporate bonds form 5% of the total invested assets.

Fees & Commissions

The advisory firm has a single stream of revenue. Clients pay Royal Oak Financial Advisors, LLC for their services and products based on a percentage of assets under management. Compensation based on assets under management promotes a long-term relationship between a client and the adviser and helps align mutual interests. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Royal Oak Financial Advisors serves?

The firm provides services to individuals and high net worth individuals. The largest group of clients of Royal Oak Financial Advisors is individuals with 388 clients and $76.41 million of assets under management. Among the 8 most similar advisory firms, Royal Oak Financial Advisors has the 4th highest percentage of individuals out of all clients.

The amount of regulatory assets under management is $110 million for 400 clients that can include trusts, estates, and 401(k) plans and IRAs of individuals and their family members. None of the firm’s clients are foreign persons or businesses.

Royal Oak Financial Advisors doesn't advise any private funds.

Careers at Royal Oak Financial Advisors, LLC

The company employs 5 people that are either part- or full-time employees. 100 percent of the employees work as investment advisers or researchers. 5 employees are registered as investment adviser representatives with the state securities authorities.

There isn’t anyone with the role of looking for and bringing in new clients on behalf of the firm. The firm doesn’t compensate employees in addition to the salary for bringing in new clients. Employees don’t receive compensation from other entities for client referrals.

Direct owners and executive officers


Name Entity Date acquired Ownership Employer ID
Robert Charles Mulcahy Managing member/cco 1 Oct 2017 50% - 75% 2661332
Paul Edgar Erickson Member 1 Oct 2017 50% - 75% 5157556
James Brendahl Westwood Principal 1 Jan 2019 Other 2241415

Based in Royal Oak

The principal office where Royal Oak Financial Advisors, LLC performs its advisory services is located at 1709 Crooks Road, Royal Oak, MI 48067, which is also the mailing address of the firm. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 248-709-6134. The normal business hours are by appointment only on Monday - Friday. You can find more information about the New York firm at royaloakfinancialadvisors.com.