Royal Oak Financial Advisors provides financial planning, portfolio management for individuals and small businesses, and pension consulting. Financial planning was provided to 1–10 clients last fiscal year.
Royal Oak Financial Advisors reports 765 clients. They include 700 individual clients, 62 high-net-worth individuals and 3 charitable organizations. Of its assets, 100.0% ($366M across 1,584 accounts) are managed with discretion.
| Client type | Clients | Assets |
|---|---|---|
| Individuals (other than HNW) | 92% | 80% |
| High-net-worth individuals | 8% | 20% |
| Charitable organizations | <1% | <1% |
Client breakdown and activity details
| Client type | Clients | Regulatory AUM | AUM share | Avg. per client |
|---|---|---|---|---|
| Individuals (other than HNW) | 700 | $292M | 79.8% | $417K |
| High-net-worth individuals | 62 | $74M | 20.2% | $1.19M |
| Charitable organizations | Fewer than 5 | $124K | 0.0% | $41.3K |
| Total | 765 | $366M | 100% | — |
- Clients
- 700
- Regulatory AUM
- $292M
- AUM share
- 79.8%
- Avg. per client
- $417K
- Clients
- 62
- Regulatory AUM
- $74M
- AUM share
- 20.2%
- Avg. per client
- $1.19M
- Clients
- Fewer than 5
- Regulatory AUM
- $124K
- AUM share
- 0.0%
- Avg. per client
- $41.3K
Total
- Clients
- 765
- Regulatory AUM
- $366M
- AUM share
- 100%
- Avg. per client
- —
- Clients outside the U.S.
- 0%
- Clients advised without assets under management last fiscal year
- 0
- Private funds advised
- 0
- Financial planning clients last fiscal year
- 1–10
Royal Oak Financial Advisors charges up to 2.00% a year for its Portfolio Management. The fee is billed in advance and is negotiable. The brochure also prices one other service, listed under fee details.
Fee details and sources
Other fees
- Financial Planning and Retirement Plan Monitoring
- Charged a quarterly fee of $50 to $200, in advance, agreed at engagement.
Robert Mulcahy owns 50% to 75% of Royal Oak Financial Advisors. It has 7 employees.
Leadership
- Paul EricksonPrincipal/CCO
- Robert MulcahyPrincipal
- James WestwoodPrincipal
Investment adviser representatives
10 representatives listed in the SEC register as of 9 October 2026.
- Phillip Eduardo Afif
- Brian Richard Branch
- John Michael Dyer
- Paul Edgar Erickson
- Hans Thomas Gappy
- Jacob Edward Gingell
- Robert Charles Mulcahy
- Aidan Ohlsen Shoop
- Ryan Elliot Shoop
- James Brendahl Westwood
Staff
- 7 employees
- 7 in advisory functions
- 7 state-registered reps
- 6 insurance agents
- Owns 50% to 75% of Royal Oak Financial Advisors, LLC
Robert Mulcahy
Control person · since October 2017
- Owns 50% to 75% of Royal Oak Financial Advisors, LLC
Paul Erickson
Control person · since October 2017
Royal Oak Financial Advisors’ regulatory assets grew 2.1× from $177M (March 2021) to $366M (August 2026); clients rose from 505 to 765 and employees from 5 to 7.
Figures from each annual filing
| Filed | Regulatory AUM | Clients | Employees | Offices |
|---|---|---|---|---|
| August 2026 | $366M | 765 | 7 | 3 |
| May 2025 | $309M | 743 | 7 | 2 |
| March 2024 | $250M | 712 | 6 | 1 |
| March 2023 | $193M | 670 | 5 | 1 |
| May 2022 | $201M | 603 | 5 | 1 |
| March 2021 | $177M | 505 | 5 | 1 |
Besides its headquarters, Royal Oak Financial Advisors has 2 offices, with 3 listed addresses in Michigan and Ohio.
Michigan · 2 listed addresses
- 512 N. Main Street, Ste. 100, Royal OakHQ
- 37895 Ann Arbor RD, Livonia
Ohio · 1 listed address
- 1991 Crocker RD, Westlake
Other business names
Royal Oak Financial Advisors has reported 1 other business name to the SEC.
- Shoop Wealth Management
Contact and registration details
- Legal name
- Royal Oak Financial Advisors, LLC
- Headquarters
- 512 N. Main Street, Ste. 100, Royal Oak, MI 48067
- Website
- Not reported
- Phone
- 248-709-6134
- @royal-aok-financial-advisors
- SEC file
- 801-114096
- Structure
- Michigan LLC
- Fiscal year end
- December
Royal Oak Financial Advisors uses Charles Schwab ($367M) as custodian for its separately managed accounts. Royal Oak Financial Advisors does not have custody of client assets.
The filed custodian amounts total more than regulatory assets under management. Each amount is shown as filed.
- Charles SchwabCharles Schwab & Co., Inc. · Omaha, NE · $367M100%
At year end, Royal Oak Financial Advisors’ separately managed accounts were mostly in stocks (68%) and bonds (18%).
What the accounts hold
- Stocks68%
- Bonds18%
- U.S. government and agency bonds9%
- State and local bonds9%
- Cash12%
Filed values cover 98%. The neutral 2% gap has no reported category.
How many clients does Royal Oak Financial Advisors have?
Royal Oak Financial Advisors has 765 clients and manages $366 million for them, as of August 2026. They include 700 individual clients, 62 high-net-worth individuals and 3 charitable organizations.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 5 August 2026
What services does Royal Oak Financial Advisors offer?
Royal Oak Financial Advisors provides financial planning, portfolio management for individuals and small businesses, and pension consulting.
Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file
How much does Royal Oak Financial Advisors charge?
Royal Oak Financial Advisors charges up to 2.00% a year for its Portfolio Management. The fee is billed in advance and is negotiable.
Which custodians does Royal Oak Financial Advisors use?
Royal Oak Financial Advisors’ separately managed account assets are held at Charles Schwab & Co., Inc. (Omaha, NE), with $367M. Only custodians holding at least a tenth of those assets are named.
Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 5 August 2026
How many financial advisors does Royal Oak Financial Advisors have?
Royal Oak Financial Advisors has 7 investment adviser representatives registered with state securities authorities, out of 7 employees, and 7 perform investment advisory functions. 0 employees are registered representatives of a broker-dealer and 6 employees are licensed insurance agents.
Source: Form ADV Part 1A, Items 5.A and 5.B, from the SEC's 2 October 2026 data file
What does Royal Oak Financial Advisors invest in?
At the end of its last fiscal year, Royal Oak Financial Advisors’ separately managed accounts held 68% exchange-traded equities, 12% cash and equivalents, 9% U.S. government and agency bonds and 9% state and local bonds.
Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file
Who owns Royal Oak Financial Advisors?
Royal Oak Financial Advisors’ direct owners are Robert Mulcahy (50% to 75%) and Paul Erickson (50% to 75%).
Source: Form ADV Part 1A, Schedules A and B, filed 5 August 2026
How does Royal Oak Financial Advisors get paid?
Royal Oak Financial Advisors is paid through a percentage of assets under management and fixed fees. Its Form ADV lists no commissions or performance-based fees among how it is paid.
Source: Form ADV Part 1A, Item 5.E, from the SEC's 2 October 2026 data file
How do I contact Royal Oak Financial Advisors?
Royal Oak Financial Advisors’ main office is at 512 N. Main Street, Ste. 100, Royal Oak, MI 48067. Its phone number is 248-709-6134.