Optas offers a variety of advisory services, which include financial planning, consulting, and
investment management services. Prior to Optas rendering any of the foregoing advisory services,
clients are required to enter into one or more written agreements with Optas setting forth the
relevant terms and conditions of the advisory relationship (the “Advisory Agreement”).
Optas has been registered as an investment adviser since 2019 and is owned by Frederick M.
Glasser Jr. and Meghan Railey. As of December 31, 2023, Optas had $633,669,504 in
discretionary assets under management.
While this brochure generally describes the business of Optas, certain sections also discuss the
activities of its Supervised Persons, which refer to the Firm’s officers, partners, directors (or other
persons occupying a similar status or performing similar functions), employees or other persons
who provide investment advice on Optas’s behalf and are subject to the Firm’s supervision or
control.
Financial Planning and Consulting Services
The Firm provides a variety of standalone financial planning and consulting services to clients for
the management of financial resources based upon an analysis of current situation, goals, and
objectives. Financial planning services will typically involve preparing a financial plan or
rendering a financial consultation for clients based on the client’s financial goals and objectives.
This planning or consulting may encompass Investment Planning, Compensation Consulting,
Equity Compensation Planning and/or Consulting, Retirement Planning, Estate Planning,
Charitable Planning, Education Planning, Corporate and Personal Tax Planning, Cost Segregation
Study, Corporate Structure, Real Estate Analysis, Mortgage/Debt Analysis, Insurance Analysis,
Lines of Credit Evaluation, or Business and Personal Financial Planning.
While each of these services is available on a stand-alone basis, certain of them can also be
rendered in conjunction with investment portfolio management as part of the Firm’s
Comprehensive Portfolio Management services (described in more detail below).
Written financial plans or financial consultations rendered to clients usually include general
recommendations for a course of activity or specific actions to be taken by the clients.
Implementation of the recommendations will be at the discretion of the client. The Firm provides
clients with a summary of their financial situation, and observations for financial planning
engagements. Financial consultations are not typically accompanied by a written summary of
observations and recommendations, as the process is less formal than the planning service.
In performing these services, Optas is not required to verify any information received from the
client or from the client’s other professionals (e.g., attorneys, accountants, etc.,) and is expressly
authorized to rely on such information. Optas recommends certain clients engage the Firm for
additional related services, its Supervised Persons in their individual capacities as insurance agents
and/or other professionals to implement its recommendations. Clients are advised that a conflict
of interest exists for the Firm to recommend that clients engage Optas or its affiliates to provide (or
continue to provide) additional services for compensation, including investment management
services. Clients retain absolute discretion over all decisions regarding implementation and are
under no obligation to act upon any of the recommendations made by Optas under a financial
planning or consulting engagement. Clients are advised that it remains their responsibility to
promptly notify the Firm of any change in their financial situation or investment objectives for the
purpose of reviewing, evaluating or revising Optas’s recommendations and/or services.
Investment Management and Comprehensive Portfolio Management Services
Optas manages client investment portfolios on a discretionary basis. The Firm can be engaged to
provide standalone Investment Management services, as well as Comprehensive Portfolio
Management services. The Comprehensive Portfolio Management services include financial
planning and consulting services with the Firm conducting client meetings to understand the
current financial situation, existing resources, financial goals, and tolerance for risk.
Optas primarily allocates client assets among various mutual funds, exchange-traded funds
(“ETFs”), and independent investment managers (“Independent Managers”) in accordance with
their stated investment objectives. The Firm can also recommend other investments, including
privately placed securities in more limited circumstances.
Where appropriate, the Firm also provides advice about any type of legacy position or other
investment held in client portfolios, but clients should not assume that these assets are being
continuously monitored or otherwise advised on by the Firm unless specifically
agreed upon. Clients can engage Optas to manage and/or advise on certain investment products
that are not maintained at their primary custodian, such as variable life insurance and annuity
contracts and assets held in employer sponsored retirement plans and qualified tuition plans (i.e.,
529 plans). In these situations, Optas directs or recommends the allocation of client assets among
the various investment options available with the product. These assets are generally maintained
at the underwriting insurance company or the custodian designated by the product’s provider.
Optas tailors its advisory
services to meet the needs of its individual clients and seeks to ensure,
on a continuous basis, that client portfolios are managed in a manner consistent with those needs
and objectives. Optas consults with clients on an initial and ongoing basis to assess their specific
risk tolerance, time horizon, liquidity constraints and other related factors relevant to the
management of their portfolios. Clients are advised to promptly notify Optas if there are changes
in their financial situation or if they wish to place any limitations on the management of their
portfolios. Clients can impose reasonable restrictions or mandates on the management of their
accounts if Optas determines, in its sole discretion, the conditions would not materially impact the
performance of a management strategy or prove overly burdensome to the Firm’s management
efforts.
Retirement Plan Consulting Services
The Firm provides retirement plan consulting services to employer plan sponsors on an ongoing
basis. Generally, such consulting services consist of assisting employer plan sponsors in
establishing, monitoring and reviewing their company's participant-directed retirement plan. As the
needs of the plan sponsor dictate, areas of advising may include:
• Establishing an Investment Policy Statement – The Firm will assist in the development of
a statement that summarizes the investment goals and objectives along with the broad
strategies to be employed to meet the objectives.
• Investment Options – The Firm will work with the Plan Sponsor to evaluate existing
investment options and make recommendations for appropriate changes.
• Asset Allocation and Portfolio Construction – The Firm will develop strategic asset
allocation models to aid Participants in developing strategies to meet their investment
objectives, time horizon, financial situation and tolerance for risk.
• Investment Monitoring – The Firm will monitor the performance of the investments and
notify the client in the event of over/underperformance and in times of market volatility.
• Participant Education – The Firm will provide opportunities to educate plan participants
about their retirement plan offerings, different investment options, and general guidance
on allocation strategies.
In providing services for retirement plan consulting, the Firm does not provide any advisory
services with respect to the following types of assets: employer securities, real estate (excluding
real estate funds and publicly traded REITS), participant loans, non-publicly traded securities or
assets, other illiquid investments, or brokerage window programs (collectively, “Excluded
Assets”). All retirement plan consulting services shall be in compliance with the applicable state
laws regulating retirement consulting services. This applies to client accounts that are retirement
or other employee benefit plans (“Plan”) governed by the Employee Retirement Income Security
Act of 1974, as amended (“ERISA”). If the client accounts are part of a Plan, and the Firm accepts
appointment to provide services to such accounts, the Firm acknowledges its fiduciary standard
within the meaning of Section 3(21) or 3(38) of ERISA as designated by the Retirement Plan
Consulting Agreement with respect to the provision of services described therein.
Use of Independent Managers
As mentioned above, Optas selects certain Independent Managers to actively manage a portion of
its clients’ assets. The specific terms and conditions under which a client engages an Independent
Manager are set forth in a separate written agreement with the designated Independent Manager.
That agreement can be between the Firm and the Independent Manager (often called a subadvisor)
or the client and the Independent Manager (sometimes called a separate account manager). In
addition to this brochure, clients will typically also receive the written disclosure documents of the
respective Independent Managers engaged to manage their assets.
Optas evaluates a variety of information about Independent Managers, which includes the
Independent Managers’ public disclosure documents, materials supplied by the Independent
Managers themselves and other third-party analyses it believes are reputable. To the extent
possible, the Firm seeks to assess the Independent Managers’ investment strategies, past
performance and risk results in relation to its clients’ individual portfolio allocations and risk
exposure. Optas also takes into consideration each Independent Manager’s management style,
returns, reputation, financial strength, reporting, pricing and research capabilities, among other
factors.
Optas continues to provide services relative to the discretionary selection of the Independent
Managers. On an ongoing basis, the Firm monitors the performance of those accounts being
managed by Independent Managers. Optas seeks to ensure the Independent Managers’ strategies
and target allocations remain aligned with its clients’ investment objectives and overall best
interests.
Tax Preparation and Filing Services
We offer tax preparation and filing services for our Clients to assist with the filing of federal and
state tax returns for individuals and businesses. We may ask for an explanation or clarification of
some items, but we will not audit or otherwise verify Client data. The Client is responsible for the
completeness and accuracy of information used to prepare the returns. Our responsibility is to
prepare the returns in accordance with applicable tax laws. Fees associated with this service are
disclosed in Item 5 of this brochure.