People's United Advisors (PUA) is a fee-based investment management firm based in Bridgeport, Connecticut. The firm's large team of advisors works both with individual clients and institutional investors like charitable organizations and government entities.
In addition to its headquarters in Bridgeport, People's United Advisors has 43 offices throughout the Northeast.
People's United Advisors Background
Founded in 1983, PUA is a registered investment advisor (RIA) and wholly owned subsidiary of People’s United Bank, which in turn is owned by People’s United Financial, Inc.
People’s Securities, Inc. (PSI), the firm’s broker-dealer affiliate, is also a subsidiary of People’s United Bank. PSI is registered with the U.S. Securities and Exchange Commission (SEC) both as an RIA and broker-dealer, and the firm functions in multiple states as a life insurance and health agency.
The investment team at PUA includes chartered financial analysts (CFAs), certified financial planners (CFPs) and certified public accountants (CPAs), among other accredited professionals.
People's United Advisors Client Types and Minimum Account Sizes
PUA advises an array of clients, including non-high-net-worth individuals and high-net-worth individuals, business entities, endowments, retirement and pension plans, trusts, estates and charitable organizations.
Minimum account sizes vary based on account type and range from $25,000 to $250,000. Minimum annual fees that range from $2,000 per year to $8,500 per year may also apply.
Services Offered by People's United Advisors
PUA offers the following advisory services:
- Portfolio management
- Discretionary asset management
- Non-discretionary asset management
- Financial planning
- Retirement planning
- Education saving
- Trusts, estates and charitable planning
- Insurance solutions
- IRAs
- Pension consulting
- Selection of other advisors
People's United Advisors Investment Philosophy
PUA’s firm brochure says its investment philosophy is based on valuation, diversification and risk management. The firm uses these tenets to establish investment goals, develop asset allocation, optimize portfolios and review and monitor outcomes.
PUA has a senior investment committee that oversees the firm’s investment policies, strategies and procedures. The committee also supervises the firm’s following five research groups: the Asset Allocation Strategy Group, Equity Research Group, Fixed-Income Strategy Group, Solutions Group and Compliance Group.
Fees Under People's United Advisors
PUA earns its compensation through asset-based fees, hourly charges and fixed fees. For its investment advisory services, clients pay prorated management fees monthly or quarterly, in arrears. Below are the firm’s annual fee schedules for its six investment advisory programs:
Retail Client Representative Fee Schedule
| Amount of assets | Management Fee |
| Initial $2MM | 1.00% |
| Next $3MM | 0.70% |
| Next $15MM | 0.50% |
| All assets over $20MM | 0.35% |
*Minimum annual fee: $5,000
Institutional Client Representative Fee Schedule
| Amount of assets | Management fee |
| Initial $2.5MM | 0.85% |
| Next $2.5MM | 0.75% |
| Next $5MM | 0.60% |
| All assets over $10MM | 0.45% |
*Minimum annual fee: $8,500
Retirement Plan Consulting Fee Schedule
| Amount of assets | Management fee |
| Initial $500K | 0.65% |
| Next $1MM | 0.55% |
| Next $3.5MM | 0.45% |
| Next $5MM | 0.30% |
| All assets over $10MM | 0.20% |
*Minimum annual fee: $2,000
PUA also offers a variety of asset management services through third-party managers, which have their own fee schedules. If enrolled in one of these programs, consult your advisor or the firm's brochure for specific fee rates.
What to Watch Out For
In its most recent SEC filings, PUA reported two regulatory actions in the past 10 years. Both involved one or more of the firm’s affiliates and one of these actions was against an individual. Details of the disclosure were provided in PUA's Form ADV.
Some PUA advisors may also be registered representatives of a broker-dealer or licensed insurance agents. These other roles can present potential conflicts of interest. When receiving a recommendation, clients should be clear about its basis and whether and how the advisor and firm may benefit. It's also important to note that PUA and its advisors have a fiduciary duty to always act in clients' best interests, regardless of these third-party commissions.
Opening an Account With People's United Advisors
If you’re interested in investing with PUA, you can either visit the firm’s headquarters in Bridgeport or call the firm at (646) 971-2505.
All information was accurate as of the writing of this article.
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