FAQS
1. How long have you been doing business? What is your history?
1975: The firm was founded by Chas P Smith as a traditional tax and accounting practice serving high net worth individuals, with an emphasis on educating clients about money and financial independence.
Mid-1980's: The firm added fee-only financial planning to its offering, in response to clients' growing demand and enthusiasm.
1989: CPS became a full service Registered Investment Advisory firm, and one of the earliest CPA firms in the country to register with the Securities and Exchange Commission.
1994: The CPAllianceTM division was formed to train & support other CPAs to integrate asset management and financial planning services to grow their practices. Today, over 60 independent CPA/Financial Advisory firms across the country have joined the alliance taking advantage of various tools and processes to redesign or enhance their own practices.
2000: CPS joined 79 other independent financial advisory firms across the country, in founding the nation's first advisor-owned, federally-chartered trust company, called National Advisors Trust Company, FSB with operations based in Overland park, MO, to serve our clients exclusively.
2004: CPS established the 401(K) PilotTM division, to manage assets online for individuals employed by businesses whose 401(K) or 403(b) plans are held by other custodians.
2005: The principals formed an independent company, CPAlliance Insurance Services Inc., to assist direct clients & CPAllianceTM firm members' clients in offering a broad insurance porftolio of life, long term care, disability, and individual health insurance products from over 40 preferred carriers.
2007: The firm added the Institutional Retirement Plans division providing professional investment management of public pension plans with pooled defined-benefit plans, and daily valuations for self-directed 457 and 403(b) plans, enhanced with educational programs for plan participants.
2. Who are the principals of CPS?
Chas P Smith, our founder, is a Certified Public Accountant, holds NASD Series 2 and 65 Registered Investment Advisor licenses, Personal Financial Specialist designation from the American Institute of CPA's, professional money manager since 1989; past member of Fidelity's esteemed Advisory Cuncil; frequent lecturer and author of articles within the financial business community. He is also a triathlete, and avid bicyclist (His office desplays an historical Tour De France winner's "Yellow Jersey").
Frank M Ashley III, Vice President of CPS, is a Certified Public Accountant, holds NASD Series 2 Registered Investment Advisor license, Personal Financial Specialist designation from the American Institute of CPA's, and FL Insurance license for life and health lines; professional money manager since 1989; frequent lecturer and presenter of financial topics in nationwide financial venues. Like his college chum, Chas, Frank has avidly enjoyed annual bicycling trips traversing the entire length of the Blue Ridge Parkway. In more recent years, Frank rebounded to his earliest hobby - woodworking - now in the backdrop of his hobby farm outside city limits - replete with chickens and turkeys, alligators, bobcats, and occasional packs of wild hogs.
James Luffman joined CPS partnership in 1987 after serving as a commercial loan officer of a local bank. "Jim" is a Certified Public Accountant, holds NASD Series 2 Registered Investment Advisor license, Personal Financial Specialist designation from the American Institute of CPA's, and FL Insurance license for life and health lines. Jim is very active in the FL Institute of CPA's Board of Governors and Financial Literacy program. Jim's personal interests include all things hunting, fishing, golfling, swimming, and socializing.
Peter Golotko joined the CPS partnership in 1990 after his internship with the firm during college. Pete earned an MBA, is a Certified Public Accountant, holds NASD Series 65 Registered Investment Advisor license, and earned the Personal Financial Specialist designation from the American Institute of CPA's. Pete serves as the firm's Chief Compliance Officer, and has testified before the Securiteis & Exchange Commission on behalf of the American Insititute of CPA's representing our profession. Pete is an avid baseball fan (evidenced by his framed baseball jerseys & memorabilia in his home's sports den), and enjoys attending an annual Baseball Fantasy Camp - playing hard and rubbing elbows with the likes of Al Kailine, Willie Horton, and the members of the 1968 and 1984 Detroit Tigers world champion teams. Pete's instinctive humor also positioned him as "chief emcee" for all office parties and roasts.
3. Who are your clients?
Our clientele fall into the following categories:
1. Our direct client relationships have grown from our national notoriety and extensive network of contacts, as well as from within our local community, including their extended families & business interests nationwide - encompassing asset management, insurance, trustee, tax, accounting, and all areas of financial planning services.
2. CPAllianceTM member firms - for whom we provide backroom support, asset management, and insurance services - to offer within their firms.
3. My401(K)PilotTM relationships include individual participants in their employer's company plans, as well as the companies that employ them. CPS manages the assets online from the employer custodian's website.
4. Our Institutional Retirement Plan division's clients emcompass both individual participants in public pension plans of municipalities and government units, as well as organizations within the public retirement system.
4. Who regulates your firm as a Registered Investment Advisor?
Our firm is regulated by the Securities & Exchange Commission. Click the link below to view our registration on the SEC's website. (SEC firm #801-35294)
http://www.adviserinfo.sec.gov/IAPD/Content/Search/iapd_OrgSearch.aspx
5. Where are my assets held if you are managing them for me?
You have the ability to choose your brokerage custodian. Our firm receives institutional investor status, with exclusive representation within the various stock exchanges.
For clients in need of a brokerage custodian, we recommend Fidelity Investments. For clients requiring an institutional trust company for custody, we offer National Advisors Trust Company, FSB.
We also have resources within our network to place real estate and other alternative investments held in self-directed retirement accounts.
6. How are you compensated?
Our asset management services are fee only. We receive no commissions and receive no 12b-1 fees, which are typically offered by loaded mutual funds. We do not share in any transaction costs charged by any custodian.
7. What are your insurance services about? Are you affiliated with a specific insurance carrier?
We believe that insurance and risk analysis is an integral piece of a client's financial plan. Therefore, we have partnered with an independent managing general insurance agency representing over 40 preferred carriers for all forms of life, long term care, and disability insurance. We remain independent in our approach, analyzing and offering choices among various products, techniques, and carriers to offer to our clients.
8. What distinguishes your firm among all the other money managers?
CPS Investment AdvisorsTM is an independent Registered Investment Advisory firm providing separate acocunt management, whose principals are CPA's and Personal Financial Specialsts - an esteemed designation from the American Institute of Certified Public Accountants.
Our various professional credentials hold us to the highest ethical standards of objectivity, confidentiality, and fiduciary status.
We have over 30 years' experience serving high net worth clients, emphasizing a holistic approach in addressing all areas of their financial life, including their personal values and family dynamics in our process.
We pride ourselves in our commitment to educating our staff and our clients about financial matters, and we embrace lifelong relationships with clients and their families.