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People's United Advisors Review

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People United Advisors, Inc.

People United Advisors, Inc. (PUA) is a New York-based firm that provides investment advisory services to nearly 12,000 clients. The fee-based investment management firm has more than $8.5 billion in assets under management (AUM), and its 115 advisors serve both individual and institutional clients. 

People 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. 

PUA offers investment advisory services through its Gerstein Fisher division, and the firm provides sub-advisory services to accounts managed by People’s United. 

People 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. 

The firm doesn’t have minimum account size requirements, but it charges minimum fees spanning from $0 to $5,000. 

Services Offered by People United Advisors 

PUA offers the following advisory services:

  • Portfolio management
  • Financial planning
  • Pension consulting
  • Selection of other advisors 

People 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 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: 

Institutional Managed - Balanced Account Fee Schedule

Amount of assets Management Fee
Initial $20,000,000 0.40%
Next $30,000,000 0.30%
Next $50,000,000 0.25%
All assets over $100,000,000 0.20%

*Minimum annual fee: $0

Institutional Managed - Short Term Fixed Income Fee Schedule

Amount of assets Management fee
Initial $10,000,000 0.35%
Next $10,000,000 0.30%
Next $30,000,000 0.25%
All assets over $50,000,000 0.20%

*Minimum annual fee: $10,000

Institutional Managed - Equity Fee Schedule

Amount of assets Management Fee
Initial $2,500,000 0.85%
Next $2,500,000 0.75%
Next $5,000,000 0.60%
All assets over $10,000,000 0.45%

*Minimum annual fee: $8,500

Investment Management Agency and Trusts Fee Schedule

Amount of assets  Management Fee
Initial $1,000,000 1.10%
Next $1,000,000 0.90%
Next $3,000,000 0.70%
All assets over $5,000,000 0.50%

*Minimum annual fee: $5,000

Fixed Income Fee Schedule

Amount of assets  Management fee
Initial $1,000,000 0.50%
Next $4,000,000 0.40%
All assets over $5,000,000 0.30%

*Minimum annual fee: $3,000 when assets under management are below $750,000

Iplan Standard Trustee Fee

Amount of assets Management fee
Initial $500,000 0.65%
Next $1,000,000 0.55%
Next $3,500,000 0.45%
Next $5,000,000 0.30%
All assets over $10,000,000 0.20%

*Minimum annual fee: $2,000

What to Watch Out For 

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. 

Disclosures

In its most recent SEC filings, PUA reported one regulatory action in the past 10 years. It involved one or more of the firm’s affiliates. 

Opening an Account With People United Advisors, Inc. 

If you’re interested in investing with PUA, you can either visit the firm’s office in New York, or call the firm at (646) 971-2505.

Tips for Finding a Financial Advisor 

  • 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.
  • 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 our free financial advisor matching tool. It'll connect you with up to three local advisors based on your specific needs. 

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

How Many Years $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 To determine how long a $1 million nest egg would cover retirement costs in cities across America, we analyzed data on average expenditures for seniors, cost of living and investment returns.

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%. This reflects the typical return on a conservative investment portfolio. 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