Omnistar Financial Group, Inc. (Hickory)

Name: Omnistar Financial Group, Inc.
Address: 1236 19 Th Street Lane, Nw, Hickory, NC, 28601
Telephone: 828-323-8777

Omnistar Financial Group, Inc. is a large advisory firm based in Hickory. It manages $149.63 million of regulatory assets for 901 client accounts. It has been registered with the SEC as an adviser since 2016 and has operated in the jurisdictions of North Carolina, South Carolina, Tennessee, and Texas.

Omnistar Financial Group provides financial planning services, portfolio management for individuals and small businesses, pension consulting services, and selection of other advisers. It prepares financial plans for more than 25 clients. On top of advisory services, the firm doesn't engage in other business activities.

Omnistar Financial Group: assets under management

The assets under management (AUM) of Omnistar Financial Group, Inc. is $149.63 million, all of which is managed in discretionary accounts. The firm's AUM has grown by 36% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $149.63 million in discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $166.07 thousand each.

Investments

The firm invests in exchange traded securities the most. They account for 72% of the total AUM. The second-largest asset type is investment and business development companies, which make up 23% of the firm’s portfolio. Investments in cash and cash equivalents form 4% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Omnistar Financial Group, Inc. for their services and products based on a percentage of assets under management, hourly charges, and fixed fees. Flat-fee based compensation is the most transparent and the one you can safely predict in advance. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Phillip Lloyd Clark serves?

The firm provides services to individuals, charitable organizations, high net worth individuals, and pension and profit sharing plans. The largest group of clients of Phillip Lloyd Clark is high net worth individuals with 50 clients and $69.49 million of assets under management. Among the 12 most similar advisory firms, Omnistar Financial Group has the 4th lowest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $149.63 million for 399 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.

Omnistar Financial Group doesn't advise any private funds.

Careers at Omnistar Financial Group, Inc.

The company employs 9 people that are either part- or full-time employees. 67 percent of the employees work as investment advisers or researchers. 6 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
Phillip Lloyd Clark	President/cco	1 Feb 2002	75% - 100%	3044343

Based in Hickory

The principal office where Omnistar Financial Group, Inc. performs its advisory services is located at 1236 19 Th Street Lane, Nw, Hickory, NC 28601, which is also the mailing address of the firm. An additional office of the firm is in Wilmington, NC. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 828-323-8777 or by fax 828-624-4139. The normal business hours are 9:00 a.m. to 5:00 p.m. on Monday - Friday. You can find more information about the New York firm at omnistarfinancial.com/.