Federal Prep
Data sourced from SEC public records (and other sources when available). Refreshed weekly • Updated today.
About
Federal Prep Advisors, Inc. primarily serves individual clients and provides ongoing portfolio management, retirement-plan advice, and recommendations related to employer plan rollovers and the application of management to rolled assets. The firm commonly charges asset-based fees and offers portfolio monitoring, asset allocation, and security selection guidance for individual accounts.
FPAI describes its investment approach as grounded in Modern Portfolio Theory, using documented risk tolerance questionnaires and a mix of long- and short-term trading as appropriate. While the brochure states the firm historically managed assets on a non-discretionary basis, a recent amendment adds discretionary investment management and the authority to select other advisers.
The firm is notable for a high client-to-advisor ratio (over 200 clients per advisor) and for its affiliations with insurance businesses (Rainmaker Alliance LLC and Federal Prep), with supervised persons who are licensed to sell annuities and insurance and who may receive commission-based compensation. Federal Prep also leverages the Orion platform — including access to Orion-sponsored educational events — provides retirement materials for Federal Employees Retirement System participants, and discloses an SEC settlement in 2024 that included a civil penalty and a required compliance plan.
Client services
Expertise
Fee options
1.00% annually (generally, negotiable)
Insurance products sold by supervised persons may generate commissions
Main office
1650 Sycamore Ave. Suite 23
Bohemia NY 11716
Advisors at this office
3
Most active in
Delaware · Florida · New Jersey · New York · Pennsylvania · Texas · Virginia
Also doing business as
Federal Prep · Federal Prep Advisors, Inc. · Teacher Prep
Disclosures
Exclamation point means they have disclosures of this type. Check mark means no disclosures of this type were found.
Business activities & affiliations
Is active or affiliated with:
Insurance agent
They sell insurance products and may earn commissions on those sales.
Is not active or affiliated with:
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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.
Advisors at this firm
Andrew K
Series 65
Bohemia, NY
Federal Prep
Andrew Kerper is a financial advisor with Federal Prep Advisors, Inc. He holds a Series 65 designation and has three years of industry experience. In addition to his advisory role, he has worked in various educational institutions since 2016. Kerper is also licensed as a life insurance agent and earns commissions from the sale of life insurance and annuities. Federal Prep Advisors primarily serves individual clients, providing portfolio management, retirement-plan advice, and guidance on employer plan rollovers. The firm employs an investment approach based on Modern Portfolio Theory, combining risk tolerance assessments with both long- and short-term trading strategies.
Michael K
Series 63, Series 65
Bohemia, NY
Federal Prep
Michael Kerper is a financial advisor with Federal Prep Advisors, Inc., holding Series 63 and Series 65 licenses and 33 years of industry experience. He has been with Federal Prep Advisors since 2016 and is also the owner of Rainmaker Alliance LLC, through which he offers insurance products. Federal Prep Advisors primarily serves individual clients with portfolio management and retirement-plan advice, applying an investment approach based on Modern Portfolio Theory. The firm offers both non-discretionary and discretionary management and is noted for its high client-to-advisor ratio and integration of insurance services.
Joseph C
Series 63, Series 65
Bohemia, NY
Federal Prep
Joseph Chiossone is a financial advisor at Federal Prep with 11 years of industry experience. He holds Series 63 and Series 65 licenses and has worked at Federal Prep Advisors, Inc. since 2017, with prior experience at RNR Securities, LLC. Outside of advising, he is a college adjunct professor and serves as an EEO investigator. Federal Prep Advisors, Inc. provides non-discretionary portfolio management and advisory services to individual clients, focusing on employer retirement plans and IRA rollovers. The firm uses modern portfolio theory and risk tolerance assessments to tailor investment strategies, advising on mutual funds, ETFs, fixed income, real estate funds, annuities, and certain international securities.
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