Okabena Investment Services Inc (Minneapolis)

Name: Okabena Investment Services Inc
Address: 1800 Ids Center, Minneapolis, MN, 55402 4523
Telephone: 612-339-7151

Okabena Investment Services Inc is a large advisory firm based in Minneapolis. It manages $1.38 billion of regulatory assets for 198 client accounts. It has been registered with the SEC as an adviser since 2001 and has operated in the jurisdictions of Florida, Massachusetts, Minnesota, and 4 other states.

Okabena Investment Services provides portfolio management for individuals and small businesses, portfolio management for pooled investment vehicles, portfolio management for businesses and institutional clients, selection of other advisers, and portfolio management for family llcs and lps. It doesn't provide financial planning services to its clients. On top of advisory services, the firm doesn't engage in other business activities.

Okabena Investment Services: assets under management

The assets under management (AUM) of Okabena Investment Services Inc is $1.38 billion. The firm's AUM has gone down by -2% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $1.3 billion in discretionary accounts and $77.14 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $6.67 million each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $25.71 million.

Okabena Investment Services has custody of $1.38 billion in cash and securities for 198 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in pooled investment vehicles the most. They account for 35% of the total AUM. The second-largest asset type is cash and cash equivalents, which make up 23% of the firm’s portfolio. Investments in exchange traded securities form 18% of the total invested assets.

Fees & Commissions

The advisory firm has a single stream of revenue. Clients pay Okabena Investment Services Inc for their services and products based on a percentage of assets under management. Compensation based on assets under management promotes a long-term relationship between a client and the adviser and helps align mutual interests. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients James Heywood Field serves?

The firm provides services to individuals, charitable organizations, high net worth individuals, and pooled investment vehicles. The largest group of clients of James Heywood Field is pooled investment vehicles with 12 clients and $1.2 billion of assets under management. Among the 9 most similar advisory firms, Okabena Investment Services has the 4th highest percentage of pooled investment vehicles out of all clients.

The amount of regulatory assets under management is $1.28 billion for 200 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.

Okabena Investment Services also advises several private funds. Namely, ten hedge funds. The minimum investment commitment required of non-related persons is $1,000,000 for each fund.

Careers at Okabena Investment Services Inc

The company employs 14 people that are either part- or full-time employees. 43 percent of the employees work as investment advisers or researchers. Only one employee is registered as an investment adviser representative 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.

James Heywood Field has been acting as President since 1 Sep 2018. Thomas Butler Doran joined the executive team most recently as the Director (08/2019), Senior Client Relationship Manager.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Okabena Company	Shareholder	1 Nov 1994	75% - 100%	41-0913129
Bruce Clemson Lueck	President, treasurer, secretary	1 Nov 1994	Other	4375566
Douglas James Dayton	Shareholder of okabena co.	1 Nov 1994	Other	4375608
Duncan Nelson Dayton	Shareholder of okabena co.	1 Aug 2000	Other	4375637
Judson Mcdonald Dayton	Shareholder of okabena co.	1 Aug 2000	Other	4375703
Mark Michael Green	President, chief investment officer, secretary, treasurer	1 Aug 2003	Other	4700863
Sherry Ann Van Zee	Chief compliance officer and vice president investment administration	1 Oct 2004	Other	4877787
William Michael Rose	Sole director, president, chief investment officer, secretary, treasurer	1 Feb 2006	Other	5106771
Douglas Arthur Neimann	Director, sr. vice president, chief investment officer	1 Jul 2010	Other	5906965
Douglas Arthur Neimann	Director, president, chief investment officer, secretary, treasurer	1 Aug 2011	Other	5906965
Scott Michael Russett	Vice president and chief financial officer	1 Jan 2014	Other	6318700
Stacy Lynne Kleven	Chief compliance officer	1 Dec 2016	Other	1182687
Corinne Suzanne Whelan	Interim chief compliance officer	1 Mar 2018	Other	2695608
Steven Guy Lentz	General counsel and chief compliance officer	1 Jun 2018	Other	2600062
James Heywood Field	Director	1 Sep 2018	Other	2824788
Tobin Jackson Dayton	Director	1 Sep 2018	Other	4310102
Thomas Butler Doran	Director (08/2019), senior client relationship manager	1 Aug 2019	Other	5233717

Based in Minneapolis

The principal office where Okabena Investment Services Inc performs its advisory services is located at 1800 Ids Center, Minneapolis, MN 55402 4523, which is also the mailing address of the firm. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 612-339-7151 or by fax 612-217-6246. The normal business hours are 8am-5pm on Monday - Friday. You can find more information about the New York firm at okabena.com.