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Copper Financial Review

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This review was produced by SmartAsset based on publicly available information. The named firm and its financial professionals have not reviewed, approved, or endorsed this review and are not responsible for its accuracy. Review content is produced by SmartAsset independently of any business relationships that might exist between SmartAsset and the named firm and its financial professionals, and firms and financial professionals having business relationships with SmartAsset receive no special treatment or consideration in SmartAsset’s reviews. This page contains links to SmartAsset’s financial advisor matching tool, which may or may not match you with the firm mentioned in this review or its financial professionals.

Copper Financial, formerly known as CommunityAmerica Financial Solutions, LLC, prides itself as being one of the only credit union-owned, broker-dealer and registered investment advisor (RIA) firms working directly with other credit unions and their clients, according to its website.

This is a fee-based firm, meaning that the financial advisor earns compensation both from the advisory services it provides and the products it sells. 

Copper Financial Background

The firm has been in business as a broker-dealer and investment advisor since 2001 and rebranded in August 2021 from CommunityAmerica Financial Solutions to Copper Financial. Owned by CommunityAmerica CUSO One, LLC, the firm strives to provide comprehensive financial planning services to help its members achieve financial peace of mind, according to its website.

The firm's president is Mike Haggerty, and Justin Steitz is the firm’s chief operating officer (COO). The firm’s owner, CommunityAmerica CUSO One, LLC, is owned by CommunityAmerica Credit Union. 

Copper Financial Client Types and Minimum Account Sizes

Copper Financial serves individuals, high-net-worth individuals, pension and profit sharing plans, charitable organizations, foundations, endowments, trusts, state or government municipal entities, investment advisors, insurance companies, corporations and other businesses.

The firm has a minimum initial investment amount that varies based on account type

Services Offered by Copper Financial

The firm provides the following advisory services:

  • Portfolio management
  • Financial planning
  • Selection of other advisors (including private fund managers)
  • Educational seminars/workshops

Copper Financial Investment Philosophy 

The firm specializes in providing customized investment solutions for credit unions and their members. It invests in exchange-traded equity securities, U.S. state and local bonds, investment-grade corporate bonds, securities issued by registered investment companies, cash, cash equivalents and other investments.

Fees Under Copper Financial

For financial planning, the firm charges at an hourly rate of $250. The maximum amount the firm will charge for each financial plan is $5,000. When it comes to investment advisory services, the firm’s Asset Allocation Managed Portfolio (AAMP) accounts come with an annual rate of 2.5%. Third-Party Managed Accounts (TPMAs) bear an annual asset-based fee of 3.0%.

*Estimated investment management fees do not include brokerage, custodial, third-party manager or other fees, which can vary in amount. Fee estimates are based on maximum AAMP annual rates.
Estimated Investment Management Fees at Copper Financial*
Your Assets Copper Financial Fee Amount
$500K Up to $12,500
$1MM Up to $25,000
$5MM Up to $125,000
$10MM Up to $250,000

Learn more about advisors' typical costs here.

What to Watch Out For

Copper Financial doesn’t have any disclosures on its record; however, conflicts of interest can arise when advisors sell products for commissions. This is because advisors may become incentivized to favor products with higher fees over more suitable, non-commissioned products. The firm says it limits this risk by abiding by a fiduciary duty. 

Opening an Account with Copper Financial

Copper Financial offers multiple options for getting in touch. You can visit the firm’s office in person, or you can call the firm at (913) 905-3600. The firm's website also provides a contact form. 

All information is accurate as of the writing of this article.

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How Long $1mm Lasts in Retirement

SmartAsset's interactive map highlights places where $1 million will last the longest in retirement. Zoom between states and the national map to see the top spots in each region. Also, scroll over any city to learn about the cost of living in retirement for that location.

Rank City Housing Expenses Food Expenses Healthcare Expenses Utilities Expenses Transportation Expenses

Methodology We analyzed data on average expenditures for seniors, cost of living and investment returns to determine how many years of retirement a $1 million nest egg would cover in cities across America.

First, we looked at data from the Bureau of Labor Statistics (BLS) on the average annual expenditures of seniors. We then applied cost of living data from the Council for Community and Economic Research to adjust those national average spending levels based on the costs of each expense category (housing, food, healthcare, utilities, transportation and other) in each city. Using this data, SmartAsset calculated the average cost of living for retirees in the largest U.S. cities.

We assumed the $1 million would grow at a real return (interest minus inflation) of 2%. Then, we divided $1 million by the sum of each of those annual numbers to determine how long $1 million would cover retirement expenses in each of the cities in our study. Cities where $1 million lasted the longest ranked the highest in the study.

Sources: Bureau of Labor Statistics (BLS), Council for Community and Economic Research