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People's United 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.

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.

Tips for Finding a Financial Advisor 

  • Plan on interviewing at least three advisors before settling on one. That way, you'll have enough information to make your decision. To find more suitable candidates, use SmartAsset's free tool that matches you with up to three financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.
  • Which areas of finance would you like professional assistance with? Estate planning, investing, retirement planning and insurance planning are just a few of the many areas financial advisors can offer advice in. For someone who specializes in a particular area, look at candidates' credentials. Here are the top 10 financial certifications.

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