Cooper Financial Services, Inc. (Hamden)

Name: Cooper Financial Services, Inc.
Address: 3190 Whitney Ave Bldg 6, Hamden, CT, 06518
Telephone: 203-248-1972

Cooper Financial Services, Inc. is a large advisory firm based in Hamden. It manages $135.01 million of regulatory assets for 986 client accounts. It has been registered with the SEC as an adviser since 2001 and has operated in the jurisdictions of California, Connecticut, Florida, and 6 other states.

Cooper Financial Services provides financial planning services, portfolio management for individuals and small businesses, portfolio management for businesses and institutional clients, pension consulting services, and selection of other advisers. It prepares financial plans for more than 50 clients. On top of advisory services, the firm doesn't engage in other business activities.

Cooper Financial Services: assets under management

The assets under management (AUM) of Cooper Financial Services, Inc. is $135.01 million. The firm's AUM has grown by 4% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $130.71 million in discretionary accounts and $4.3 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $138.03 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $110.36 thousand.

Investments

The firm invests in investment and business development companies the most. They account for 63% of the total AUM. The second-largest asset type is exchange traded securities, which make up 23% of the firm’s portfolio. Investments in cash and cash equivalents form 5% of the total invested assets.

Fees & Commissions

The advisory firm has a single stream of revenue. Clients pay Cooper Financial Services, Inc. for their services and products based on a percentage of assets under management. 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 Melvin Cooper serves?

The firm provides services to individuals, insurance companies, high net worth individuals, and pension and profit sharing plans. The largest group of clients of Melvin Cooper is individuals with 336 clients and $99.82 million of assets under management. Among the 6 most similar advisory firms, Cooper Financial Services has the 2nd highest percentage of individuals out of all clients.

The amount of regulatory assets under management is $135.01 million for 368 clients that can include trusts, estates, and 401(k) plans and IRAs of individuals and their family members. None of the firm’s clients are foreign persons or businesses.

Cooper Financial Services doesn't advise any private funds.

Careers at Cooper Financial Services, Inc.

The company employs 7 people that are either part- or full-time employees. 43 percent of the employees work as investment advisers or researchers. 3 employees are registered as investment adviser representatives with the state securities authorities.

There isn’t anyone 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.

Melvin Cooper has been acting as President since 1 Mar 1985. Estate Of Lawrence S. Cooper/ Hope Cooper As Executrix joined the executive team most recently as the Shareholder.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Lawrence Scott Cooper	Chairman / ceo / cco	1 Mar 1985	75% - 100%	1336689
Melvin Cooper	Director/ president	1 Mar 1985	25% - 50%	53646
Zelda Molaver Cooper	None	1 Mar 1985	Other	4333172
Susan Lynn Lazaroff	Secretary	1 Nov 1985	Other	1201256
Susan Lynn Cooper	Secretary	1 Nov 1985	Other	1201256
Michael James Butler	Chief compliance officer/shareholder	1 Jul 2016	25% - 50%	6318239
Estate Of Lawrence S. Cooper/ Hope Cooper As Executrix	Shareholder	1 Sep 2017	50% - 75%	81-6803097

Indirect Owners

The SEC currently registers 1 indirect owner.

Name	Entity	Date acquired	Ownership	Employer ID
Hope Janet Cooper	Executrix	1 Sep 2016	Other	6716707

Based in Hamden

The principal office where Cooper Financial Services, Inc. performs its advisory services is located at 3190 Whitney Ave Bldg 6, Hamden, CT 06518, which is also the mailing address of the firm. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 203-248-1972 or by fax 203-287-0944. The normal business hours are 9 am - 4:30 pm on Monday - Friday. You can find more information about the New York firm at cooperfinservices.com.