Orca Investment Management, LLC (Orca) has been a Registered Investment Advisor (RIA)
since June 2007. Until December 24, 2009, Orca's name was Cygnus Capital, LLC.
On December 31, 2009, Orca acquired the advisory assets of KLD Investment Management,
LLC (KLD) which had been a Registered Investment Advisor since 1993. Effective January
1, 2013, Orca acquired the advisory assets of Bane Barham & Holloway Assets Management
Inc. (BB&H) which had been a Registered Investment Advisor since 1982. Shawn P. Willard
was the principal owner and acted as Managing Member and President for Orca from
inception until Paulson Capital Holding Company, LLC (Paulson) acquired Orca effective
January 1, 2024, thus becoming the principal owner. With this change in ownership, Orca
became a wholly owned subsidiary of Paulson. Shawn P. Willard continues to act as
Manager for Orca. Paulson also owns Paulson Investment Company, LLC (PIC), a registered
Broker-Dealer, thus PIC is an affiliate of Orca. In addition, Paulson owns Paulson
Investment Advisers, LLC (PIA), a state-registered investment adviser, and Paulson General
Insurance Services, LLC, an insurance agency, also making them affiliates of Orca.
Orca offers asset management services tailored to meet your stated investment objective.
This objective may be to grow the value of your account, to provide a source of income
from your account, or a combination of growth and income. We offer investment
objectives which range from conservative capital preservation to aggressive capital
appreciation. This is discussed in more detail in Item 8 of this brochure. We tailor our asset
management services to the needs of our clients. You can request, in writing, restrictions on
investing in certain securities or type of securities in your account with the exception of
individual stocks held in any given fund (Orca will not accept the responsibility of ensuring
a certain security or type of security is not held in a fund purchased within any of our
strategies). Any client directed purchases will be treated as restricted assets, and the
monitoring of such assets will be the responsibility of the client. Due to the specific needs
or requests of certain clients, there will be instances where one account does not hold the
same securities or perform similarly to other managed accounts. Unless instructed
otherwise,
clients grant Orca discretionary authorization, the ongoing and continuous
authority to invest their money without consulting or prior approval from the client about
the price, the type of security, the amount, and when to buy or sell to carry out their
investment recommendations. These recommendations are based on the responses the
client provides on the Client Investment Objectives & Suitability or Statement of
Investment Policy form and/or during personal conversations with the client and on the
Advisory Agreement. Under this authority, you allow us to:
Purchase and sell securities, including - but not limited to - stocks, bonds, mutual
funds, exchange traded funds, money market funds (or other cash equivalent
holdings) in your accounts,
Arrange for delivery and payment in connection with such purchases and sells, and
Act on your behalf in most matters necessary or incidental to handling your account,
including monitoring certain assets.
It is the responsibility of the client to give us complete information and to notify us of any
changes in financial circumstances or goals.
When we provide investment advice to you regarding your retirement plan account or
individual retirement account, we are fiduciaries within the meaning of Title I of the
Employee Retirement Income Security Act and/or the Internal Revenue Code, as applicable,
which are laws governing retirement accounts. The way we make money creates some
conflicts with your interests, so we operate under a special rule that requires us to act in
your best interest and not put our interest ahead of yours.
Under this special rule's provisions, we must:
Meet a professional standard of care when making investment recommendations
(give prudent advice);
Never put our financial interests ahead of yours when making recommendations
(give loyal advice);
Avoid misleading statements about conflicts of interest, fees, and investments;
Follow policies and procedures designed to ensure that we give advice that is in
your best interest;
Charge no more than is reasonable for our services; and
Give you basic information about conflicts of interest.
As of December 31, 2023, Orca managed the following client assets:
Discretionary Client Assets: $ 160,858,491
Non-Discretionary Client Assets: $ 1,250,628
Total Client Assets: $ 162,109,119