It is with pride that Cumberland Advisors celebrates its 45th Anniversary. June 18th marks 45 years since Cumberland Advisors officially opened its Vineland, NJ, office. Eight years after moving our principal office from Vineland to Sarasota, FL, we have 45 employees, and as of April 30th, 2018, more than three billion dollars of client investment funds under management in separate accounts. Cumberland’s growth and stability are substantial, with record assets under management and a largest-ever, talented staff. The firm’s future looks bright.
Just as significantly, Cumberland Advisors announces the implementation of a long-considered succession plan. David Kotok, co-founder, remains Chairman of the Board and Chief Investment Officer while transferring the day-to-day responsibilities of running the firm to John Mousseau, who has been elected President and CEO of Cumberland Advisors. With over 30 years of investment management experience, Mousseau has been a member of Cumberland Management and longtime Director of Fixed Income at Cumberland for 18 years. He has an A.B. in economics from Georgetown University, a masters in economics from Brown University, and has been awarded the Chartered Financial Analyst (CFA®) designation. “Our firm has a great tradition of separate account management and personal service,” says Mousseau. “It is an honor to be elected president by our board of directors. I’m committed to maintaining the high standards of the past and to our continued growth.”
“The best way to insure the continuous delivery of a high level of quality service to our clients is to execute a well-thought-out succession plan,” David Kotok explains. “Many firms wait too long and become reactive to unfortunate events. At Cumberland, we want to be proactive, not reactive. I’ll continue as chairman and chief investment officer for the next three years and will gradually be helping the transition of each client relationship during that time.”
Cumberland Advisors is a registered investment advisory (RIA) firm headquartered in Sarasota, FL. The firm has a wealth preservation bias and conservative investment orientation to manage both risks and returns. Cumberland Advisors is a dedicated fee-for-service-only asset manager. The firm offers market knowledge, analysis, and management with low fees.
The firm manages fixed-income as well as equity accounts (using exchange-traded funds only). Our clients are individuals (direct clients as well as those referred by consultants), institutions, retirement plans, nonprofits, and government entities. Various investing styles are available, examples:
Equity: Cumberland Advisors actively manages domestic and international equity portfolios using exchange-traded funds (ETFs).
Fixed Income: Cumberland Advisors actively manages fixed-income portfolios through a full interest rate cycle. Our firm utilizes a disciplined approach to select high quality, investment-grade (A or better) liquid issues. Strategies include Total-Return Tax-Free Municipal Bond and Total-Return Taxable Fixed Income.
401(k): Cumberland Advisors manages 401(k), 403(b), and 457 retirement plans.
Charitable and Foundation Special Services: Cumberland’s professionals work closely with a nonprofit organization’s management team, investment committee, and board of directors to develop a customized Investment Policy Statement (IPS) and to construct an investment portfolio in alignment with the short- and long-range financial goals of the organization.
Cumberland Advisors’ portfolio management emphasizes long-lasting relationships and continuous personalized discussion among clients, their consultants, tax advisors, and the assigned portfolio management.
The value of the firm is rooted in the professionalism, integrity, expertise, and intellect of its people. In addition to John Mousseau’s election as President, Cumberland has implemented other significant changes. Cumberland has added new non-management shareholders, and the Board of Directors has expanded to nine members. New and expanded roles at the firm include: Daisy Lopez is a member of the new executive committee and remains Executive Vice President; Dr. Robert Eisenbeis remains Vice Chairman of the Board of Directors; and Phyllis Streit is a member of the new executive committee and remains Chief Financial Officer. Matthew McAleer is a member of the new executive committee and has been named Executive Vice President and Director of Equity Strategies; Dr. Michael McNiven has been named Senior Vice President of Business Development and National Accounts; and Patricia Healy, CFA®, has been named Senior Vice President of Research and Portfolio Manager.
Cumberland Advisors has 17 Series 65 registered professionals. “We believe this number of series 65 credentialed advisors adds a great deal to the professional level of this firm,” says Mousseau. “It speaks to the emphasis we place on professional skills.”
Earlier this year, Cumberland achieved independent verification of its GIPS (Global Investment Performance Standards) certification. This propels Cumberland into an elite group of money managers that commit to fair presentation and full disclosure of investment performance results.
As Cumberland celebrates its 45th anniversary, these changes are designed to ensure that the quality, personal commitment, and competence to which clients have become accustomed will continue and indeed be enhanced. With a broad range of skills and experience, Cumberland is committed to providing the best possible service and strategic advice to clients without regard to whether they are individuals in direct relationship with us or clients who are introduced to the firm through their referring consultants and supporting professionals.
Additional information is available in Cumberland’s Form ADV Part 2 disclosure. It can be found on Cumberland’s website, www.cumber.com or it can be mailed upon request. Michael McNiven, at 800-257-7013, ext. 316, can answer questions about investment styles and platforms.
For further details, please communicate with us via www.cumber.com or call Sharon Prizant at 800-257-7013, ext 335.
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