CEF Advisors
Data sourced from SEC public records (and other sources when available). Refreshed weekly • Updated today.
Client AUMClient assets under management
$113,284,624
Clients
93
Advisors
2
across 2 offices
About
CEF Advisors manages separate accounts for individuals (including high-net-worth households) and a growing set of institutional clients, focusing portfolio management that primarily uses listed closed-end funds and business development companies (BDCs). The firm also operates a paid data and research offering and provides limited consulting services tied to closed-end fund strategy.
The firm’s investment process blends fundamental research and technical analysis to select funds, with an emphasis on buying funds trading at discounts to net asset value, monitoring dividend coverage, manager tenure, and NAV performance to inform timing and reallocations. Portfolios are implemented through model composites that can be customized to client restrictions, and the firm relies on proprietary datasets and intraday NAV/pricing to support trading and rebalancing decisions.
Distinctive aspects relative to peers include a commercial CEFData subscription product and a suite of proprietary CEF/BDC indexes and weekly datasets that surface security-level pricing and intraday NAV data uncommon among similar advisers. CEFA also caps institutional research retainers (no more than five at a time), produces regular webcasts and podcasts with long-running coverage (55+ consecutive quarters), and publicly reports time-weighted composite performance for its models.
Client services
Expertise
Occupation focus
Fee options
$50,001 - $100,000: 2.25% $0 - $50,000: 2.50% $100,001 - $500,000: 2.00% $500,001 - $1,000,000: 1.75% $1,000,001 - $1,999,999: 1.25% $2,000,000 - $5,000,000: 1.00% $5,000,001 - $10,000,000: 0.85% $10,000,001+: 0.65% $3,500,000 - $5,000,000: 0.50% $5,000,001+: 0.39%
John Cole Scott individual investor consulting rate $535/hour; institutional consulting rate $825/hour; Dan Silver $350/hour individual; $495/hour institutional; data manager $100/hour; data analysts $50/hour
Subscription fees for CEFA’s Closed-End Fund Universe range from $5,000 to $50,000 per year depending on subscriber type, typically paid semi-annually or annually in advance; annual subscription fees range from $20,900 to $37,500 depending on subscriber type
Account minimum: $2,500,000 per household (general minimum), $4,500,000 for municipal bond models; smaller accounts may be accepted if combined with other household or family assets or negotiated by senior management Minimum fee: Minimum quarterly fee of $2,500 for Municipal Models Client Billing Fee-only: Consulting fees with institutional clients minimum $5,000 per quarter for up to 20 hours; individual investor fees $1,750 per quarter for 6 hours; hourly consulting rates between $50 and $825 depending on personnel and client type; consulting fees can be waived or reduced
Main office
See officeHenrico VA
Advisors at this office
1
Offices (2)
Most active in
California · Georgia · Louisiana · Michigan · New York · North Carolina · Texas · Virginia
Also doing business as
Cef Advisors · Closed End Fund Advisors · Closed End Fund Advisors Inc.
Disclosures
Exclamation point means they have disclosures of this type. Check mark means no disclosures of this type were found.
Business activities & affiliations
Is not active or affiliated with:
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Insurance agent
They sell insurance products and may earn commissions on those sales.
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Broker-dealer / trader
They provide brokerage services and may earn transaction-based compensation in addition to advisory fees.
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Bank
They're affiliated with a bank that may offer its own financial products and services.
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Trust company
They provide trust and estate administration services, typically for separate fees.
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Fund sponsor
They manage or sponsor investment funds and may earn management or performance-based fees if clients invest in them.
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Accountant / CPA / tax prep
They offer tax and accounting services, typically for separate fees.
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Lawyer
They provide legal services, typically billed separately.
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Real estate agent
They facilitate real estate transactions and may earn commissions.
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Other specialized services
They may provide services such as pension consulting or municipal advisory work, typically for separate fees.
Quick links
Advisors at this firm
John S
Series 66
Henrico, VA
CEF Advisors
John Scott is a financial advisor at CEF Advisors with 25 years of industry experience. He holds a Series 66 designation and has been with CEF Advisors since 2001. CEF Advisors manages separate accounts for individuals, including high-net-worth households, and institutional clients, focusing on listed closed-end funds and business development companies. The firm uses a blend of fundamental research and technical analysis to select funds, emphasizing discounts to net asset value and dividend coverage, and operates a paid data and research service alongside limited consulting tied to closed-end fund strategy.
Daniel S
CFA®, Series 63
Richmond, VA
CEF Advisors
Daniel Silver is a CFA® charterholder with five years of experience in the financial industry. He has worked at Closed-End Fund Advisors, Inc. since 2020 and previously spent six years at Zoso Capital, LLC. CEF Advisors manages separate accounts for individuals, including high-net-worth households, and institutional clients, focusing on portfolios primarily composed of listed closed-end funds and business development companies. The firm’s investment process combines fundamental research and technical analysis, emphasizing funds trading at discounts to net asset value and utilizing proprietary data to guide trading and rebalancing decisions.
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