Cumberland Advisors Inc (Sarasota)

Cumberland Advisors provides portfolio management for individuals and small businesses, portfolio management for investment companies, portfolio management for businesses and institutional clients, pension consulting services, and consulting services for governmental clients. It doesn't provide financial planning services to its clients. On top of advisory services, the firm doesn't engage in other business activities.

Cumberland Advisors: assets under management

The assets under management (AUM) of Cumberland Advisors Inc is $3.07 billion. The firm's AUM has grown by 483% since the beginning of its operation, and $266.4 thousand of the total AUM is attributable to clients outside of the United States.

The firm manages $3.07 billion in discretionary accounts and $4.01 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $1.2 million each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $801.9 thousand.

Investments

The firm invests in state and local bonds the most. They account for 78% of the total AUM. The second-largest asset type is exchange traded securities, which make up 11% of the firm’s portfolio. Investments in cash and cash equivalents form 4% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Cumberland Advisors Inc for their services and products based on a percentage of assets under management, hourly charges, and fixed fees. Compensation based on assets under management promotes a long-term relationship between a client and the adviser and helps align mutual interests. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients David Raphael Kotok serves?

The firm provides services to individuals, insurance companies, investment companies, charitable organizations, high net worth individuals, banking or thrift institutions, corporations or other businesses, pension and profit sharing plans, and state or municipal government entities. The largest group of clients of David Raphael Kotok is high net worth individuals with 403 clients and $1.72 billion of assets under management. Among the 7 most similar advisory firms, Cumberland Advisors has the highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $3.07 billion for 2,114 clients that can include trusts, estates, and 401(k) plans and IRAs of individuals and their family members. 1% of the firm’s clients are foreign persons or businesses.

Cumberland Advisors doesn't advise any private funds.

Careers at Cumberland Advisors Inc

The company employs 35 people that are either part- or full-time employees. 43 percent of the employees work as investment advisers or researchers. 15 employees are registered as investment adviser representatives with the state securities authorities.

There are 2 people with the role of looking for and bringing in new clients on behalf of the firm. The firm doesn’t compensate employees in addition to the salary for bringing in new clients. Employees don’t receive compensation from other entities for client referrals.

David Raphael Kotok has been acting as President since 1 Feb 1998. Daisy Gloria Lopez joined the executive team most recently as the Executive Vice President, Director, Shareholder.

Direct owners and executive officers

Indirect Owners

The SEC currently registers 3 indirect owners.

Based in Sarasota

The principal office where Cumberland Advisors Inc performs its advisory services is located at One Sarasota Tower, Sarasota, FL 34236, which is also the mailing address of the firm. An additional office of the firm is in Vineland, NJ. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 800-257-7013 or by fax 941-554-4352. The normal business hours are 8:30am - 5:00pm on Monday - Friday. You can find more information about the New York firm at cumber.com.

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