About Our Firm
Orca Wealth Management, LLC (“Orca Wealth Management”) is a fee-only registered investment
adviser that provides investment management and financial advisory services to individual and
institutional investors to help them achieve their financial needs and goals. Founded in 2020, the
firm is solely owned by Kenneth Ouellette.
Our firm takes pride in providing personalized service to our clients and acknowledges that it is held
to a fiduciary standard of care.
Types of Advisory Services We Offer
Orca Wealth Management offers a variety of advisory services to individuals, high net worth
individuals, trusts, businesses, and corporations. These services include:
• Investment and wealth management
• Selection of Independent Managers
• Financial planning and consulting
• Fiduciary and non-fiduciary services for plan sponsors
We work with our clients to determine their investment objectives and risk profile and develop a
customized investment plan based on their individual needs and goals. Orca Wealth Management
will utilize the financial information provided by the client to analyze and develop strategies and
solutions to assist the client in meeting their financial goals.
Prior to Orca Wealth Management rendering any of the foregoing services, clients are required to
enter into one or more written advisory agreements with Orca Wealth Management setting forth the
relevant terms and conditions of the advisory relationship.
Investment and Wealth Management Services
Orca Wealth Management manages our clients’ portfolios on a discretionary and, in limited
circumstances, non-discretionary basis. Our investment and wealth management services are
tailored to the needs of our clients and are based on a comprehensive understanding of each client’s
current situation, past experiences, and future goals. With this acquired knowledge we create,
analyze, strategize, and implement goal-oriented investment solutions. These solutions become our
clients’ investment policy. This policy and our matched strategies are designed to be risk
appropriate, cost effective and tax efficient.
Our wealth management services generally include a broad range of comprehensive financial
planning and/or consulting services, as well as discretionary or, in limited circumstances, non-
discretionary management of investment portfolios.
Client assets are primarily allocated among individual equity and debt securities, exchange-traded
funds ("ETFs"), and mutual funds in accordance with the client's stated investment objective and
risk/volatility parameters. We may also recommend clients allocate a certain portion of their assets
to independent investment managers ("Independent Managers"). Where appropriate, Orca Wealth
Management may also provide advice about many types of legacy positions or other investments
held in client portfolios. Clients may also engage Orca Wealth Management 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 (to the extent permissible without an insurance license)
and assets held in employer sponsored retirement plans and qualified tuition plans (i.e., 529 plans).
In these situations, Orca Wealth Management will direct or make recommendations on a non-
discretionary basis for 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
custodian for the plan trustee or administrator and clients retain responsibility for effecting trades in
these accounts.
Clients may also retain Orca Wealth Management to provide advisory services for their retirement
plan account. When providing these services, the firm acts as an ERISA 3(21) fiduciary and is
required to act under the standard of care in ERISA that is generally a higher standard than imposed
on our firm under the Investment Advisers Act of 1940. Advisory services available to plan
participants include:
• Non-discretionary investment advice
• Asset allocation models
• Strategic investment allocations
• Investment performance reporting
The decision to implement any recommendations rests exclusively with the plan participant and
there is no obligation to implement any such recommendations through our firm.
Orca Wealth Management 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. You should promptly notify us if there are changes in your financial
situation or if you wish to place any limitations on the management of your account. You may
impose reasonable restrictions or mandates on the management of your account if Orca Wealth
Management determines, in our sole discretion, the conditions would not materially impact the
performance of a management strategy or prove overly burdensome to the firm's management
efforts.
To the extent a client decides to invest with an Independent Manager or in a particular fund, those
managers and funds will have their own investment practices. Those investment practices are
described in each manager’s Form ADV or fund’s prospectus, or in its offering or other disclosure
documents. In addition, selected money managers or funds typically have discretion to determine
the type and amount of securities to be purchased or sold for the portion of the assets managed by
the money manager or fund.
Selection of Independent Managers
Orca Wealth Management may select certain Independent Managers to actively manage a portion
of its clients' assets. Pursuant to the terms of the investment advisory agreement, Orca Wealth
Management shall have the discretion to appoint and terminate these third-party advisers. The
specific terms and conditions under which a client engages an Independent Manager may also be set
forth in a separate written agreement with the designated Independent Manager. In addition to this
brochure, clients will also receive the written disclosure documents of the respective Independent
Managers engaged to manage their assets.
Orca Wealth Management evaluates a variety of information about Independent Managers, which
may include 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, Orca Wealth Management seeks to assess the Independent Managers' investment
strategies, past performance, and risk results in relation to its clients' individual portfolio allocations
and risk exposure. Orca Wealth Management also takes into consideration each Independent
Manager's management style, returns, reputation, financial strength, reporting, pricing, and research
capabilities, among other factors. When utilizing Wells Fargo & Company as the Independent
Managers, portfolio services can be provided via a Customized Portfolio Program (separately
managed account), personalized Unified Managed Account Program or FundSource.
Independent Managers utilized by Orca Wealth Management include:
• Unified managed account managers and separate account managers available through Wells
Fargo & Company (“Wells Fargo”).
• Unified managed account program and separately managed account program available
through Adhesion Wealth Advisor Solutions (“Adhesion”).
Orca Wealth Management continues to provide services relative to the discretionary or non-
discretionary selection of the Independent Managers. On an ongoing basis, Orca Wealth
Management monitors the performance of those accounts
being managed by Independent
Managers. Orca Wealth Management seeks to ensure the Independent Managers' strategies and
target allocations remain aligned with its clients' investment objectives and overall best interests.
Programs Offered Through Wells Fargo
When utilizing Wells Fargo as the Independent Manager, or managers available through a program
offered by Wells Fargo, investment management services are provided through the Personalized
Unified Managed Account Program. The Wells Fargo programs require clients to sign an
investment advisory agreement for access to their programs in addition to our investment
management agreement.
Programs Offered Through Adhesion
When utilizing third-party investment strategists available through Adhesion, Orca Wealth
Management may utilize separately managed account managers, model providers, mutual
funds/ETF strategies and/or individual equity and fixed income securities to construct a portfolio
tailored to your needs. Through the Adhesion program, Adhesion acts a sub-adviser to our firm and
does not require clients sign a separate investment advisory agreement for access to their program.
Financial Planning and Consulting Services
Orca Wealth Management offers different levels of financial planning and consulting services to
help our clients identify, prioritize and work towards their goals and objectives. Our consulting
services give our clients the ability to receive a broad range of financial advice and services,
including specific security recommendations, for the duration of the advisory agreement.
Our process starts with an extensive review of a client's family situation, which includes assets and
liabilities as well as estate, tax, and insurance needs. We then employ a risk tolerance and risk
capacity-focused simulation to get a detailed cash flow analysis and proposed asset allocation.
Together, this information is analyzed to develop a proposed financial plan, which is designed to be
dynamic in nature, ever-evolving due to life changes, along with changes in cash flow needs, risk
tolerance, time horizon, or investment objectives.
Orca Wealth Management’s financial planning and consulting services may include any of the
following topics:
• Cash Flow Analysis
• Financial Record Organizing
• Estate Planning
• Charitable Giving
• Education Planning
• Business Planning
• Concentrated Stock
• Federal Benefits & Health Care
• Death & Disability
• Divorce Planning
• Liability Management
• Investment Consulting
• Tax Planning
• Insurance Review
• Family Governance • Retirement Plan Consulting and
Employee Benefits Analysis
While each of these services is available on a stand-alone basis, certain services may also be
rendered in conjunction with investment portfolio management services as part of a comprehensive
wealth management engagement. In performing these services, Orca Wealth Management 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. Orca
Wealth Management may recommend clients engage the firm for additional related services, or we
may recommend other professionals to implement our recommendations. These additional services
by Orca Wealth Management or another professional are provided at an additional cost to you,
which is based on the nature, extent, complexity, and other characteristics of the services. This
creates a conflict of interest because we will have an incentive to recommend additional services
based on the compensation to be received, rather than solely based on your needs, and in some
cases, based on the prospect of cross-referrals of advisory clients from the other professional or his
or her firm. Implementation of financial planning recommendations is entirely at your discretion.
You have complete freedom in selecting a financial adviser to assist you with implementing the
recommendations made in your financial plan and are under no obligation to act on the advice of
Orca Wealth Management. Financial planning recommendations are of a generic nature and are
not limited to any specific product or service offered by a broker dealer or insurance company.
Should you choose to implement the recommendations contained in the plan, Orca Wealth
Management suggests you work closely with your attorney, accountant and/or insurance agent.
Orca Wealth Management will act solely in our capacity as a registered investment adviser and does
not provide any legal, accounting or tax advice. You should seek the counsel of a qualified
accountant and/or attorney when necessary. As part of our advisory services, we may assist clients
with tax harvesting and will work with the client’s tax specialist to answer any questions related to
the client’s portfolio.
Fiduciary and Non-Fiduciary Services for Plan Sponsors
Retirement plan sponsors may retain our firm to provide advisory and consulting services for plan
assets. Fiduciary services available to plan sponsors include:
• Reviewing and assisting in the establishment of investment policies and objectives on behalf
of the plan
• Assistance with development of an Investment Policy Statement
• Recommending core investments to be offered to plan participants for selection by the plan
sponsor
• Recommending investment managers, within the meaning of ERISA Section 3(38), on
behalf of the plan, to be offered as investment options for plan participants
• Monitoring of the plan’s investments or investment managers in accordance with the plan’s
Investment Policy Statement or other relevant guidelines
Non-fiduciary consulting services available to plan sponsors include:
• Educating plan participants on investment options available within the plan
• Preparation of periodic performance reports for the plan’s investments
• Assistance with monitoring the reasonableness of the fees and expenses of the plan’s
investments or investment managers in accordance with the plan’s Investment Policy
Statement or other relevant guidelines
• Benchmarking existing plan service providers to industry peers, and where appropriate,
conducting a search for new providers for the plan sponsor’s consideration and providing our
recommendation.
Portfolio Management Services for Wrap Fee Program
Orca Wealth Management offers portfolio management services through a wrap fee program. A
bundled or “wrap fee” program is an advisory fee program under which you pay one bundled fee to
compensate Orca Wealth Management for portfolio management and trade execution. A wrap fee
program may not be the lowest cost option if you would like to restrict your investments to open-end
mutual funds or other long-term investment products.
Amount of Assets We Manage
As of December 2022, Orca Wealth Management managed approximately $149,559,558on a
discretionary basis and $1,721,422on a non-discretionary basis. Discretionary assets under
management are those for which we have an ongoing responsibility to select and make securities
recommendations that are in line with your financial needs and objectives and then effect those
securities transactions without first consulting you. Non-discretionary assets under management are
those for which we have an ongoing responsibility to select and make securities recommendations
that are in line with your financial needs and objectives and then effect those securities transactions
only after consulting with you to inform you of the transaction(s) and obtaining your approval to
move forward.