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CPS Investment Advisors 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.

CPS Investment Advisors

CPS Investment Advisors is a fee-only financial advisor firm based in Lakeland, Florida. Its team of 15 financial advisors offers financial planning, retirement account and portfolio management services to a wide range of clients. CPAlliance, a division of CPS Investment Advisors, provides services to other advisory firms. Altogether, CPS has $1.46 billion in client assets under management (AUM), helpint to putt it on SmartAsset's top financial advisor list for Lakeland.

As a fee-only advisory, CPS receives all of its compensation from the advisory fees that clients pay. That's different from a fee-based firm, which also receives third-party forms of compensation such as sales commissions.

CPS Investment Advisors Background

CPS Investment Advisors was founded in 1975, though it didn't register as an investment advisor with the U.S. Securities and Exchange Commission (SEC) until 1989. The firm is principally owned by James M. Luffman, Peter C. Golotko and Michael A Riskin. Golotko serves as president of CPS, Luffman acts as co-vice president and Riskin is the firm's corporate officer and co-vice president.

Luffman, Golotko and Riskin are all certified public accountants (CPAs) with a personal financial specialist (PFS) designation. The firm employs a number of other advisors who also hold financial certifications such as for certified financial planner (CFP), certified public accountant (CPA), chartered life underwriter (CLU), chartered financial consultant (ChFC) and chartered retirement plans specialist (CRPS).

CPS Investment Advisors Client Types and Minimum Account Sizes

CPS Investment Advisors works with a range of different clients, though the vast majority are individuals who do not have high net worths. The firm also maintains advisory relationships with foundations, endowments, pension and profit-sharing plans, charities, government entities and businesses.

CPS does not have a minimum account size listed in its paperwork filed with the Securities and Exchange Commission. That said, advisors may impose minimums on a case-by-case basis.

Services Offered by CPS Investment Advisors

CPS Investment Advisors focuses on three main types of services: financial planning and consulting, portfolio management and retirement account services. 

  • Financial planning
    • Personal financial goal planning
    • Tax planning
    • Cash flow analysis
    • Death and disability needs planning
    • Retirement planning
    • Estate planning
  • Portfolio management
    • Individual, risk-adjusted portfolio creation
    • Investment policy statement design
    • Portfolio supervision
  • Retirement account services
    • 401(k) services for plan providers
    • 401(k) Pilot program for plan participants
    • 403(b) plan participant services
  • CPAlliance
    • Pooled, separate account management for outside advisory firms
    • Trust services
    • Insurance solutions
    • Trading, reporting and compliance services
    • Back room support

CPS Investment Advisors Investing Philosophy

CPS Investment Advisors looks to tailor its investment philosophies, strategies and advice to the individual needs and goals of each client. Its advisors discuss these objectives with each client individually at the outset of their relationship, in turn using this information to create an investment policy statement (IPS). This IPS will then guide the portfolio construction plan and its future management for each client. All funds are managed on a discretionary basis, meaning you give the firm the authority to invest your money for you.

CPS uses financial newspapers and publications, among other sources of information, to help inform its investment decisions. The firm also sticks to a value-driven premise of buying undervalued securities to achieve long-term results, applying the principals of fundamental analysis to identify these undervalued securities. All assets under CPS Investment Advisors' control are heavily diversified among multiple asset classes and geographies.

Fees Under CPS Investment Advisors

CPS Investment Advisors charges different fees based on the types of services requested by each client. All fees, including those related to financial planning services, are subject to negotiation. Here's a breakdown of the various fee schedules at this firm:

Investment Supervisory Services
AUM Annual Fee
First $3MM 1.50%
$3MM - $5MM 1.00%
$5MM and up 0.75%

 

401(k) Pilot Services
AUM Annual Fee
First $3MM 1.50%
$3MM - $5MM 1.00%
$5MM and up 0.75%

 

401(k) Retirement Account Services
AUM Annual Fee
Up to $1BB 1.00%

 

403(b) Pilot Services
AUM Annual Fee
Up to $99MM 1.50%

The following table shows what you'll pat for investment supervisory services at CPS, based on your total assets:

*Estimated investment management fees do not include brokerage, custodial, third-party manager or other fees, which can vary in amount.
Estimated Investment Management Fees at CPS Investment Advisors*
Your Assets CPS Annual Fee Amount
$500K $7,500
$1MM $15,000
$5MM $65,000
$10MM $102,500

What to Watch Out For

CPS Investment Advisors does not have any disclosures of legal or regulatory issues reported on its latest Form ADV.

Opening an Account With CPS Investment Advisors

There are plenty of options available for those interested in opening an account with CPS Investment Advisors. You can go online to the firm's website and submit a form for a free consultation. You can also call headquarters at (863) 688-1725 or visit the firm at its offices in Lakeland or The Villages.

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

Tips for Financial Planning

  • Finding the right financial advisor for you doesn’t have to be hard. SmartAsset’s free tool matches you with financial advisors in your area in 5 minutes. If you’re ready to be matched with local advisors, get started now.
  • If your primary focus is preparing for retirement, a good first step is to figure out whether you're on track to meet your retirement income needs. Use our retirement calculator to find out where you stand.

How Long $1 Million 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.

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

Methodology We weighed potential expenditures for a prospective retiree with a  $1 million nest egg to assess how many years that fund would cover in retirement in America’s largest cities.

We 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 metro areas across the U.S.

We assumed the $1 million would grow at a net annual return of 2% after inflation. 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.