General

A Registered Investment Advisor (RIA) is registered with the Securties and Exchange Commission (SEC) or state securities authorities. RIAs are different from broker‐dealers since they are often not paid on the sale or purchase of securities or commission/product based. RIAs have a fiduciary obligation to put the client’s interests above our own, regardless of all other circumstances. RIAs are also required to disclose any possible conflicts of interest to our clients. Broker‐dealers as opposed to RIAs, follow the suitability rule (only details that the broker‐dealer has to reasonably believe that any recommendations made are suitable for clients but their own interests may come first) and are regulated by the Financial Industry Regulatory Authority (FINRA).

A fee‐only advisor’s management fee is normally based on a percentage of your investment assets. The manager does not accept any fees or compensation based on product sales. This is different from fees based on commissions where fees are earned by the sale of financial products. At Osborne, we make it easy – it is one fee based on your account value regardless of holdings, transactions, or financial planning. The account value is assessed each quarter (all accounts in your household combined) and you can clearly see how fees are calculated.

Form ADV is used by investment advisors to register with the SEC and is required to be filed on an annual basis. Form ADV Part 2 is formatted like a brochure and required to be given to all prospective and current clients. Some of the topics in the brochure include detailed information on advisory services offered, fee schedule, disciplinary information, conflicts of interest, as well as background information on the investment team.

Osborne Partners believes investors need four pillars to achieve their financial goals. Each represents a key part of our service to you.

The firm was founded over 85 years ago as an investment management boutique for sophisticated investors by Jack Stephenson, an early partner with Dodge & Cox, and Phelps Hunter, a portfolio manager with Crocker Bank. By successfully transitioning ownership throughout the generations, Osborne Partners has become a well‐established multi-asset class manager with $2 billion in assets under management (as of 6/30/2023). Ownership has evolved from the original two founders to the diverse ownership today, which includes 10 current Osborne Partners employees.

The rare combination of sophisticated Investment Management and active Financial Planning. We offer all services for one fee and pride ourselves on top‐quality client service. Each client has a team working for them at Osborne. You will work directly with your own Wealth Counselor who is a seasoned CFP® professional on staff. The Wealth Counselor knows the details of your portfolio, regularly speaks with the investment management team, and is experienced in financial planning.

  • We customize portfolios over seven major asset classes similar to large foundations and endowments
  • We manage portfolios in‐house versus hiring outside managers
  • We use nearly all individual securities versus buying mutual funds or other investment products
  • We have a long history of generating stock‐like returns with less than 60% allocated to stocks
  • We concentrate on reducing downside risk
  • We include customized, active financial planning services from experienced CFP® professionals on staff

The CFA Charter is the most difficult designation to earn in the investment management industry.  The CFA Charter reflects unprecedented knowledge in the areas of: portfolio management, equity investments, fixed income investments, alternative investments, financial statements analysis, derivatives, quantitative analysis, corporate issuance, economics, and most importantly, ethical standards. The average CFA Charterholder earns the designation in four and a half years. Most candidates fail.

Just as you require your doctor to endure years of education, exams, and training to earn a MD prior to operating on you, it is crucial for the people who manage your portfolio to earn the CFA Charter.

The entire Osborne Partners Investment Team is comprised of seasoned CFA® Charterholders.

CFA Institute does not endorse, promote or warrant the accuracy or quality of Osborne Partners Capital Management LLC. CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.

Only CFP® practitioners have successfully passed a multi-part examination confirming their deep knowledge of important subjects such as: retirement planning, estate planning, tax planning, family legacy planning, charitable planning, and asset allocation.
Our CFP® practitioners are experts in all of these fields, bring decades of experience, and are fiduciaries who are committed to putting your interests first. Osborne Partners only hires experienced CFPs with unparalleled ethical standards.

Certified Financial Planner Board of Standards Inc. owns the certification marks CFP®, CERTIFIED FINANCIAL PLANNER™ and federally registered CFP (with flame design) in the U.S., which it awards to individuals who successfully complete CFP Board’s initial and ongoing certification requirements.

Investments

The majority of portfolios we see from new clients either lack portfolio diversity, contain expensive and poor performing products, or are filled with investments managed by outside managers. We improve portfolios by customizing to your risk/return standards, properly diversifying, improving tax efficiency, reducing multiple layers of fees, and improving long‐term risk‐adjusted performance.

Since 1937, Osborne Partners has generated revenue from one source – investment management fees. If our clients succeed, and their portfolios rise in value, our firm’s revenue rises. If we protect client portfolios during difficult markets, our firm’s revenue stream is protected as well. We firmly believe selling products to clients, hiring other people to manage client portfolios, and making money on commissions defeats the purpose of proper portfolio management.

Service

You will work with a single point of contact, a Wealth Counselor with at least 15 years of experience. They will be your pointperson for all things financial. Have questions about your portfolio or the recent markets? Want to update an old financial plan? Need to update your beneficiaries? Need to complete your annual RMD? Your Wealth Counselor is there to help.

Osborne Partners provides very thorough portfolio reports quarterly. These can be delivered either via the online client portal or to your mailing address. If you would like to see a sample report, just ask! You will continue to receive monthly statements, trade confirmations, and tax documents from your custodian (example Charles Schwab, Fidelity, or Pershing).

We want to make it convenient for you! Meetings can be held in either of our offices (San Francisco or Menlo Park), via phone, or at your home.

Yes of course! We find having “family meetings” to discuss finances is extremely valuable. We can always set up a conference call for those that live far away.

Give us a call/email and we’ll walk you through the next steps. We’ll review your current statements and provide paperwork to either link on to your existing accounts or to move your portfolio to another custodian. You will work with your Wealth Counselor to create a customized Investment Policy Guideline (IPG) which includes your investment strategy and gauges your willingness and tolerance for risk. You will have access to our OPCM tools – our website, client portal, and account aggregator. The investment team, following your investment policy guideline, begins to allocate your portfolio once the paperwork is completed. Typically portfolios are fully allocated in 1‐4 months. We have a history of client relationships that last decades, so we do not completely reallocate your portfolio on day one.