Investment Management Associates
Data sourced from SEC public records (and other sources when available). Refreshed weekly • Updated today.
Client AUMClient assets under management
$719,213,707
Clients
375
Advisors
3
of 8 employees
About
Investment Management Associates provides ongoing discretionary investment management, and non‑discretionary services on request, to individuals, high‑net‑worth clients, foundations, pension and profit‑sharing plans, trusts, charitable organizations, and businesses. The firm states a typical minimum initial account of $500,000 and reports managing roughly $810 million across its client relationships, with periodic client reporting and quarterly custodian statements.
IMA follows an active value investing process that emphasizes three dimensions — quality, valuation, and growth — and typically constructs concentrated portfolios of about 20–30 stocks with initial position sizes generally between 2% and 6%. Portfolios are managed primarily in equities and fixed income, with income‑oriented implementation that can include dividends and option strategies such as secured puts and covered calls to generate income or hedge, while the firm discloses it does not use margin or short selling.
The brochure discloses some marketing and referral practices that are less common among peers: the firm pays unaffiliated third‑party solicitors (promoters) and acknowledges the use of promoters’ endorsements or testimonials in its materials, and it provides IMA‑prepared performance reporting to clients. The firm does not present comprehensive financial planning as a core service, instead offering consulting engagements billed on a case‑by‑case basis (noted in the brochure as generally ranging from 1% to 1.5% of assets under advisement), and the firm also discloses that senior personnel author books and receive related royalties.
Client services
Expertise
Fee options
$0 - $0.5 million: 1.5% $0.5 million - $1 million: 1.5% $1 million - $2 million: 1.25% $2 million - $6 million: 1.0% $6 million+: Negotiable
Account minimum: $500,000
Main office
5690 Dtc Blvd, Suite 140 W
Greenwood Village CO 80111
Advisors at this office
3
Most active in
Arizona · California · Colorado · Connecticut · Florida · Georgia · Illinois · Louisiana · Maryland · Massachusetts · Nebraska · New Hampshire · New Jersey · New Mexico · New York · North Carolina · Ohio · Oregon · South Carolina · Texas · Virginia · Washington
Also doing business as
Ima · Investment Management Associates · Investment Management Associates, 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
Cyrus P
CFP®, Series 66
Greenwood Village, CO
Investment Management Associates
Cyrus Pearo is a CFP® and Series 66 professional with 10 years of industry experience. He is currently an advisor at Investment Management Associates, where he has worked since 2022. Prior to that, he held roles at Breakaway Capital Advisors LLC and TIAA-CREF. Outside of his advisory work, Pearo is an enrolled agent who prepares personal tax returns and competes as a professional cyclist. Investment Management Associates offers discretionary and non-discretionary investment management services to individuals, high-net-worth clients, and various institutions. The firm employs an active value investing approach focused on quality, valuation, and growth, managing concentrated equity and fixed income portfolios with income-oriented strategies.
Robert E
Series 65
Greenwood Village, CO
Investment Management Associates
Robert Eckart is a financial advisor at Investment Management Associates with a Series 65 credential. He has eight years of industry experience, including a prior role at Funding Circle before joining his current firm. Investment Management Associates provides discretionary and non-discretionary investment management services to individuals, high-net-worth clients, foundations, pension and profit-sharing plans, trusts, charitable organizations, and corporations. The firm manages approximately $573 million across a few hundred accounts, employing an active value investing approach that incorporates Quality, Valuation, and Growth factors.
Vitaliy K
CFA®
Greenwood Village, CO
Investment Management Associates
Vitaliy Katsenelson is a CFA® charterholder with 25 years of industry experience. He has been with Investment Management Associates since 1997. Katsenelson writes a monthly column under contract to Institutional Investor and also contributes articles to other organizations and his personal website. Investment Management Associates is a small team managing approximately $573 million for individuals, high-net-worth clients, foundations, pension and profit-sharing plans, trusts, charitable organizations, and corporations. The firm employs an active value investing approach focused on Quality, Valuation, and Growth, typically holding 20 to 30 stocks without using margin or shorting, but incorporating listed option strategies such as secured puts and covered calls.
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