BCP Advisors LLC is a limited liability company organized under the laws of the State of Florida on
December 6, 2010. Since May 23, 2018, we are registered as an Investment Adviser with the SEC.
Registration of an investment adviser does not imply any level of skill or training.
The company updated its business structure. BCP Advisors is wholly owned by BCP Global LLC (“BCP
Global”), a Delaware limited liability company. Mauricio Armando, Santiago Maggi and Pedro
Fernandez de los Muros own 19.3% each of BCP Global and indirect owners of BCP Advisors. The
remaining percentage is owned by certain minority Members with less than 10% ownership each.
Advisory Services
We provide asset allocation and ongoing investment management services on a discretionary
investment management basis to individuals, high net worth individuals, trusts, estates, charitable
organizations, corporations, other business entities, and foreign investment advisers primarily
through our automated digital platform. We provide non-discretionary investment advisory
services to existing clients of the Adviser, who maintain an account at Interactive Brokers to trade
equity securities.
We consult with you to obtain detailed financial information and other pertinent data to enable
us to determine the appropriate investment guidelines, risk tolerance and other factors that will
assist in determining your needs and investment suitability.
As of December 31, 2023, we had $221,025,517 of which $217,219,463 are discretionary Assets
Under Management and $3,806,054 are non-discretionary Assets Under Management.
This Brochure provides you with information regarding our qualifications, business practices, and
advisory services. Please contact our, Chief Compliance Officer, if you have any questions about this
Disclosure Brochure.
We require the following education and/or experience for our investment adviser representatives
(“IARs”): We require at least five (5) years of experience in capital markets. We prefer, but do not
require, our portfolio managers to have completed some graduate work and to possess a
specialized business or technical skill. Each of our portfolio managers must meet state examination
or experience requirements and be properly licensed and registered in states in which they provide
investment advisory services, unless they are exempt from the registration requirements under
state laws.
BCP Global provides the following types of investment advisory services:
(1) Discretionary Investment Advisory Services: On a continuous and regular basis, BCP Advisors
provides discretionary investment advisory services to clients through virtual interaction over
the Internet using a technology platform developed and maintained by the firm.
(2) Non-discretionary Investment Advisory Services. BCP Advisors provides continuous and regular
non-discretionary investment advisory services to clients who maintain an account at Interactive
Brokers to trade equity securities. BCP Advisors will not exercise any discretionary authority with
respect to the transactions in this secondary account. Account supervision is guided by the stated
investment objectives and risk classification.
(3) Sub-Advisory Portfolio Management Services: BCP Advisors provides sub-advisory portfolio
management services to third-party investment advisers. This service is based on the client
profiles of the third-party investment advisers that are entered into BCP Advisors’ online
technology platform through its website and mobile application.
Our investment advisory services are provided through our interactive platform and may be
accessed using our website and/or mobile application.
1. BCP Advisors’ Direct Clients
Each direct client enters into a discretionary investment management agreement with BCP
Advisors. Presently BCP Advisors has an arrangement with Interactive Brokers, LLC (“Interactive
Brokers” or “custodian”), a FINRA registered broker dealer, who serves as the custodian of client
assets. Clients will open cash and/or margin accounts at Interactive Brokers to maintain their assets.
Certain restrictions apply to opening margin accounts. BCP Advisors encourages clients to carefully
read the Margin Agreement and Disclosure when opening the margin account.
2. Non-discretionary Investment Advisory Services.
In addition to the discretionary investment management agreement, the clients will sign a non-
discretionary investment management agreement with BCP Advisors for the non-discretionary
investment advice provided regarding the equity trading account maintained by the Client at
Interactive Brokers.
3. Sub-Advisory Portfolio Management Clients
BCP Advisors also offers broader sub-advisory portfolio management services to Third- Party
Investment Advisers who manage discretionary accounts. BCP Advisors entered into
a sub-advisory agreement with the Third-Party Investment Advisers whereby the Third- Party
Investment Advisers appoint BCP Advisors to manage all or a portion of their clients’ accounts
utilizing the web-based portal or mobile application created by
BCP Advisors.
Model Portfolios
BCP Advisors works primarily with exchange traded funds (“ETFs”) and/or Undertakings for
Collective Investment in Transferable Securities (“UCITS”). Therefore, our portfolios are composed
of ETFs and/or UCITS. ETFs are investment funds made up of a collection of assets, such as stock
and bonds, that are traded like individual stocks. UCITS are mutual funds registered in Europe under
a unified regulatory framework that can be sold to investors worldwide. Consequently, they
provide excellent diversification and liquidity. The portfolios are designed to automatically adjust
according to your personal risk tolerance while remaining globally diversified. Additional
information can be found below in Item 8 - Methods of Analysis, Investment Strategies and Risk of
Loss of this brochure.
Our Process
To open an account, each client enters personal information, including age, financial resources,
and investment experience, goals and objectives into our automated digital platform via an
interactive Questionnaire presented on the platform as part of the registration process. Based on
the information provided by the client via the Questionnaire, the automated digital platform uses
an Algorithm to analyze such information. With this information, we will recommend a portfolio
that is designed to meet the client’s investment needs. The client will have the ability to switch
among suitable portfolios we offer at any time.
BCP Advisors is responsible for maintaining the Algorithm. However, BCP Advisors does not
override the Algorithm to provide alternative recommendations to any particular client, whether
based on any additional criteria provided by the client, market and/or economic conditions, or
otherwise. Clients should be aware that the Algorithm relies upon their answers to questions
relating to their risk tolerance, investment objectives, and investment time horizon provided
through the Questionnaire, and that such answers serve as inputs to the Algorithm.
Clients should also understand that BCP Advisors does not utilize the entirety of all information
provided by the client in providing investment recommendations. BCP Advisors does not consider
any additional information about the client not covered in the Questionnaire in making
recommendations.
Furthermore, although the digital platform relies on the information provided by the client
through the Questionnaire in order to provide investment recommendations, representatives of our
firm who are qualified to do so will be available to provide support services on our behalf.
Third-Party Investment Manager
BCP Advisors has discretion to choose Third-Party Investment Managers to manage all or a
portion of the client's assets. Third-Party Investment Managers shall not have authority to place
orders for the execution of transactions or to give instructions to BCP Advisors with respect to
BCP Advisors clients’ assets. As between Third-Party Investment Managers and BCP, it shall be
the responsibility of BCP Advisors to:
● Determine whether a Model Portfolio and each security included therein initially is
and remains appropriate and suitable for a client; and
● Make discretionary determinations as to the securities to be bought and sold for each
account.
BCP Advisors partnered with BlackRock for the construction of the Model Portfolios that are
managed by BCP Advisors and offered to the clients through our digital platform.
Use of Margin Accounts
When a client opens a margin account and obtains a loan from Interactive Brokers, the securities
in the Portfolios managed by BCP are the collateral for that loan. Furthermore, the market value
of those securities is the basis for the calculation of BCP Advisors’ advisory fee. Note that the
advisory fees calculation is based on the total market value of the securities and NOT the Net
Value of the account. Accordingly, the calculation of the advisory fee does not take into
consideration the amount of the loan (negative cash in the account). Furthermore, the advisory
fee will fluctuate depending on the value the securities. If the securities decline in value, the
value of the collateral supporting the loan also decreases. As a result, the custodian may
demand an increase in the collateral that secures the client’s obligations and if the client were
unable to provide additional collateral, the custodian could liquidate assets in order to maintain
the required equity in the account. Liquidation in that manner could have extremely adverse
consequences. In addition, the amount of the client’s borrowings and the interest rates on
those borrowings that fluctuate, will have a significant effect on the client’s profitability.
Therefore, the decision as to whether to employ margin is left totally to the discretion of client.
While the use of margin borrowing can substantially improve returns, such use may also increase
the adverse impact to which a client’s portfolio may be subject. Refer to Item 5. Fees and
Compensation section for further information regarding the fees.