Firm Description
Oak Family Advisors, LLC (Oak Family Advisors, OFA, Firm, our and/or we) provides
personalized confidential investment management and financial planning to
individuals, pension and profit-sharing plans, trusts, estates, charitable organizations
and small businesses. Advice is provided through consultation with the client and may
include:
• determination of financial objectives,
• identification of financial problems,
• cash flow management,
• tax planning,
• insurance review,
• investment management,
• education funding,
• retirement planning, and
• estate planning.
We are an investment management firm. Our Investment Management Services are
tailored to a client’s specific needs and goals as established through a dialogue
concerning their assets, liabilities, income, expenses, goals, and objectives. A long-
term investment plan is established, then reconfirmed or adjusted at least
annually. Clients may impose restrictions on investing in certain securities or types of
securities.
Oak Family Advisors renders discretionary investment management services by
investing in securities that the Firm believes are suitable for each client based on their
investment objectives, risk tolerance and other individual client needs and
circumstances. See Item 10 - Other Financial Industry Activities and Affiliations for
information about Oak Street Management Co., LLC.
An evaluation of each client's initial situation is generally provided to the client.
Periodic reviews, not less than annually, are also communicated to provide reminders
of the specific courses of action that need to be taken. More frequent reviews occur
but are not necessarily communicated to the client unless immediate changes are
recommended.
Other professionals (e.g. lawyers, accountants, insurance agents, etc.) are engaged
directly by the client on an as-needed basis, and we can work closely with them at
your request to help shape your plan. Conflicts of interest will be disclosed to the client
in the event they should occur.
The initial meeting, which may be arranged by telephone at (312) 373-7221, and is
free of charge, is to be considered an exploratory interview to determine the extent to
which financial planning and investment management may be beneficial to the client.
We do not participate in the management of wrap
account programs.
As of December 31, 2023, we managed total assets of approximately $495,800,000
(approximately $419,200,000 in assets on a discretionary basis and approximately
$76,600,000 on a non-discretionary basis).
Principal Owners
Oak Family Holdings, LLC (OFH) is the manager of Oak Family Advisors. OFH is
owned and controlled by John H. Fitzpatrick, Non-Executive Chairman of Oak Family
Advisors, LLC. The Firm has been in business since 2006.
Types of Advisory Services
The Firm provides traditional asset management services as well as consulting
services. We match our advisory services to the individual needs of clients. On
occasion, clients may impose restrictions on investing in certain securities or types of
securities.
We view our clients’ individual situations holistically. This means that in addition to the
traditional asset management services we provide, we also endeavor to assist clients
as they navigate taxation and estate issues, trust services, gifting strategies, as well
as other matters, as the client desires.
Client Relationships
A client’s specific needs and goals are established through a dialogue about their
assets, liabilities, income, expenses, goals, and objectives. The goals and objectives
for each client are documented in our client relationship management system.
Agreements may not be assigned without the client’s consent.
Types of Agreements
The following agreements define the typical client relationships.
Advisory Service Agreement
Clients can choose to have the Firm manage their assets to obtain ongoing in-depth
advice and life planning. All aspects of the client’s financial affairs are reviewed,
including those of their children. Realistic and measurable goals are set and objectives
to reach those goals are defined. As goals and objectives change over time,
suggestions are made and implemented on an ongoing basis.
Asset Management
Portfolio assets generally include stocks, mutual funds, and exchange-traded funds,
where appropriate. They may also include:
• equities (stocks),
• warrants, corporate debt securities,
• commercial paper,
• certificates of deposit,
• municipal securities,
• mutual funds
• U.S. government securities,
• options contracts,
• futures contracts, and
• interests in partnerships.