# Cumberland Advisors

> Cumberland Advisors is an SEC-registered investment advisory firm in Sarasota, FL, registered since 1998, reporting $1 billion to $5 billion in regulatory assets under management in its Form ADV filing dated February 2, 2026.

- CRD: 107964
- Filed as: CUMBERLAND ADVISORS
- Legal name: Cumberland Advisors, LLC
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Sarasota, FL
- Filing period: October 2026
- Form ADV filing dated: February 2, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/107964
- AdvisorCensus page: https://advisorcensus.com/firm/cumberland-advisors-sarasota-fl-107964

## Quick answers

**How is Cumberland Advisors compensated?**
On its Form ADV (Item 5.E, October 2026), Cumberland Advisors reports these compensation arrangements: a percentage of assets under its management; fixed fees (other than subscription fees); other.

**Where is Cumberland Advisors located?**
Cumberland Advisors' principal office is in Sarasota, FL, according to its Form ADV.

**Is Cumberland Advisors registered with the SEC or a state?**
Cumberland Advisors is an SEC-registered investment advisory firm, registered since 1998. Status as filed: Approved. CRD 107964.

**How much does Cumberland Advisors manage?**
Cumberland Advisors reports $3,217,125,317 in regulatory assets under management in its Form ADV filing dated February 2, 2026 (100% discretionary).

**How have Cumberland Advisors' assets and staff changed since 2021?**
In the Form ADV data for Cumberland Advisors: Regulatory assets under management: $3,955,084,190 in the October 2021 data and $3,217,125,317 in the October 2026 data, down 19%. Total employees: 41 in October 2021 and 36 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Cumberland Advisors serve?**
By number of clients on Form ADV Item 5.D: individuals (other than high net worth individuals) (885); high net worth individuals (206); other (106).

**Which custodians does Cumberland Advisors use?**
Cumberland Advisors' most recent Form ADV filing (Schedule D, Section 5.K(3)) lists Charles Schwab & Co., Inc., Fidelity Brokerage Services LLC, Morgan Stanley, Pershing LLC and U.S. Bancorp Investments, Inc. as custodians holding 10% or more of its separately managed account assets.

**Does Cumberland Advisors report any disciplinary disclosures?**
Reports no disclosure items on Form ADV Item 11. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/107964

**What changed in Cumberland Advisors' recent Form ADV filings?**
In the February 2026 filing data: Changed its legal name from Cumberland Advisors Inc to Cumberland Advisors, LLC. Registered or notice-filed in ND, VI, VT. Updated its list of owners and control persons (Schedule A).

## From the Form ADV filing

### Compensation (Item 5.E)
- A percentage of assets under your management
- Fixed fees (other than subscription fees)
- Other

### Custodians (Schedule D, Section 5.K(3))
- Charles Schwab & Co., Inc.
- Fidelity Brokerage Services LLC
- Morgan Stanley
- Pershing LLC
- U.S. Bancorp Investments, Inc.

Custodians holding 10% or more of the firm's separately managed account assets, as filed on Form ADV (Schedule D, Section 5.K(3)). A custodian holds client assets; it does not endorse or supervise the firm. AdvisorCensus has no relationship with any custodian.

### Regulatory assets under management (Item 5.F)
- Total: $3,217,125,317
- Discretionary: $3,208,374,185
- Non-discretionary: $8,751,132

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Individuals (other than high net worth individuals) | 885 | $992,619,552 |
| High net worth individuals | 206 | $717,974,836 |
| Pooled investment vehicles (other than investment companies and business development companies) | 1 | $2,673,213 |
| Pension and profit sharing plans (but not the plan participants or government pension plans) | 8 | $50,108,581 |
| Charitable organizations | 11 | $65,376,587 |
| State or municipal government entities (including government pension plans) | 5 | $65,581,733 |
| Insurance companies | 1 | $4,083,460 |
| Corporations or other businesses not listed above | 13 | $141,083,787 |
| Other | 106 | $1,177,623,568 |

### Advisory services (Item 5.G)
- Financial planning services
- Portfolio management for individuals and/or small businesses
- Portfolio management for businesses (other than small businesses) or institutional clients
- Pension consulting services
- Market timing services
- Other

### Firm details
- Registered since: 1998 (28 years)
- Employees: 36 total, 18 performing advisory functions
- Wrap fee program participation: Yes
- States registered or notice-filed: AK, AL, AZ, CA, CO, CT, DC, DE, FL, GA, HI, IA, ID, IL, IN, KS, KY, LA, MA, MD, ME, MI, MN, MO, MT, NC, ND, NE, NH, NJ, NM, NV, NY, OH, OK, OR, PA, PR, RI, SC, SD, TN, TX, UT, VA, VI, VT, WA, WI, WV
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Websites listed on Form ADV (Item 1.I)
- bingplaces.com
- cumber.com
- google.com/business
- seekingalpha.com/author/david-kotok
- Facebook @CumberlandADV
- LinkedIn @cumberlandadv
- X @CumberlandADV
- YouTube @CumberlandAdvisors

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $3,955,084,190 | 41 | July 23, 2021 |
| October 2022 | $4,083,396,277 | 45 | August 2, 2022 |
| October 2023 | $3,378,840,322 | 45 | October 4, 2023 |
| October 2024 | $3,420,180,829 | 44 | March 22, 2024 |
| October 2025 | $3,348,228,828 | 44 | April 11, 2025 |
| October 2026 | $3,217,125,317 | 36 | February 2, 2026 |

Regulatory assets under management: $3,955,084,190 in the October 2021 data and $3,217,125,317 in the October 2026 data, down 19%.
Total employees: 41 in October 2021 and 36 in October 2026.

## Changes in the filing (last 12 months)

### February 2026
- Changed its legal name from Cumberland Advisors Inc to Cumberland Advisors, LLC.
- Registered or notice-filed in ND, VI, VT.
- Updated its list of owners and control persons (Schedule A).

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Cumberland Advisors (CRD 107964): Form ADV filing data as of October 2026.