Cherry Creek Investment Advisors, Inc. (CCIA) was founded in 1994 by Sean Castle and
Patricia McNamara. CCIA offers professional investment advisory services to the private
investor. These services include analyzing the client’s current financial objectives, risk
constraints, designing and implementing an individually tailored investment portfolio to
meet these needs. As of December 31, 2023, we managed $245,125,424 in client assets on a
discretionary basis for 254 clients. We do not manage non-discretionary accounts.
Robo Advisory services (Right Track).
We also offer an automated investment program (the “Program”) through which clients are
invested in a range of investment strategies we have constructed and manage, each
consisting of a portfolio of exchange-traded funds (“ETF”s) and a cash allocation. The
client’s portfolio is held in a brokerage account opened by the client at Charles Schwab &
Co., Inc, (“CS&Co”). We use the Institutional Intelligent Portfolios platform (“Platform”),
offered by Schwab Performance Technologies (“SPT”), a software provider to independent
investment advisors and an affiliate of CS&Co., to operate the Program.. We are
independent of and not owned by, affiliated with, or sponsored or supervise by SPT,
CS&Co., or their affiliates. We and not Schwab, are the client’s investment advisor and
primary point of contact with respect to the Program. We are solely responsible, and
Schwab is not responsible, for determining the appropriateness of the Program for the
client, choosing a suitable investment strategy and portfolio for the client’s investment
needs and goals. We have contracted with SPT to provide us with the Platform, which
consists of technology and related trading and account management services for the
program. The platform enables us to make the Program available to clients online and
includes a system that automates certain key parts of our investment process (the
“System”). The System includes an online questionnaire that helps us determine the
client’s investment objectives and risk tolerance and select an appropriate investment
strategy and portfolio. Clients should note that we will recommend a portfolio via the
system in response to the client’s answers to the online questionnaire. The client may then
indicate and interest in a portfolio that is one level less or more conservative or aggressive
that the recommended portfolio, but we then make the final decision and select a portfolio
based on all the information we have about the client. The System also includes an
automated investment engine through which we manage the client’s portfolio on an
ongoing basis through automatic rebalancing and tax-loss harvesting (if the client is eligible
and elects).
We charge a flat .75bps as described below in Item 5. Clients do not pay brokerage
commissions or any other fees to CS&Co. as part of the Program.
Because we maintain $100 million in client assets in accounts at CS&Co that are not
enrolled in the program we do not pay SWIA and fees for its services in the Program.
The Right Track offering is a digital limited contact program. These clients are not entitled
to our full
suite of services. Occasional contacts by phone or Email, a weekly digital
newsletter, as well as an annual meeting opportunity, as requested by the client are
included.
As an independent firm, we work for our clients only and base all of our investment
decisions on objective analysis and independent research. All client account information is
kept in strict confidence. Each account is managed individually by a professional portfolio
manager.
Some of the additional services we offer include but are not limited to retirement planning,
monthly investment plans for education and retirement, consultation on estate planning,
asset valuation and strategies for financial planning.
Retirement Plan Rollovers
When we provide investment advice to you regarding your retirement plan account or
individual retirement account, we are fiduciaries within the meaning of Title I of the
Employee Retirement Income Security Act (“ERISA”) and/or the Internal Revenue Code
(“IRC”), as applicable, which are laws governing retirement accounts. The way we make
money creates some conflicts with your interests, so we operate under a special rule that
requires us to act in your best interest and not put our interest ahead of yours.
By acting in your best interest, we must:
• Meet a professional standard of care when making investment recommendations
(give prudent advice);
• Never put our financial interests ahead of yours when making recommendations
(give loyal advice);
• Avoid misleading statements about conflicts of interest, fees, and investments;
• Follow policies and procedures designed to ensure that we give advice that is in
your best interest;
• Charge no more than is reasonable for our services; and
• Give you basic information about conflicts of interest.
Many employers permit former employees to keep their retirement assets in their
company plan. Also, current employees can sometimes move assets out of their company
plan before they retire or change jobs. In determining whether to complete the rollover to
an IRA, and to the extent the following options are available, you should consider the costs
and benefits of:
1. Leaving the funds in your employer's (former employer's) plan
2. Moving the funds to a new employer’s retirement plan
3. Cashing out and taking a taxable distribution from the plan
4. Rolling the funds into an IRA rollover account
Each of these options has advantages and disadvantages and prior to making a decision you
should carefully review the information regarding your rollover options and discuss any
questions with your investment adviser representative.
In the event CCIA recommends that a client roll over their retirement plan assets into an
account to be managed by the Firm, such a recommendation creates a conflict of interest.
The conflict of interest exists because the Firm will receive compensation (management
fees) if the money is rolled over. No client is under any obligation to rollover retirement
plan assets to an account managed by CCIA. CCIA’s Chief Compliance Officer remains
available to address any questions that a client or prospective client may have regarding
the potential for conflict of interest presented by such rollover recommendation.