As principle partner and president of CPS Investment Advisors in Lakeland, Peter Golotko heads a unique business that combines traditional financial planning by CPAs with investment management designed for long-term growth.
“We were doing a lot of personal financial planning in the 1980s and we would give customers a list of recommended stocks to show their brokers,” Golotko said. “They ended up in loaded mutual funds instead because that’s where the commissions were.”
In addition to being a certified public accountant, Golotko is also a certified as a personal financial specialist who builds portfolios for clients using actual stocks (rather than mutual funds) in a fee-based partnership rather than through a sales commission. “Our goal is to help clients build portfolios of stocks in great companies that deliver great dividends,” Golotko said.
Vistage is helping Golotko meet his goals by working through the issues that challenge a rapidly growing business. “We’re all entrepreneurs and we’re all looking at the same day-to-day stuff even if we’re in totally different businesses.”
Advice from his peers and Chair also helps Golotko make difficult decisions. “My group recommended that I make difficult personnel move with an employee.” he recalls. “The group suggested we part ways – it was very uncomfortable but turned out to be the best decision I’ve ever made.”
Since then, business has grown beyond his wildest dreams. “Since the difficult move, CPS has gone from $300 million under management to over a billion dollars this year,” he notes.
Vistage also helps Golotko stay focused as he manages growth that is predicted to reach $3 billion by 2020, adds Dick Pellegrini, Golotko’s Vistage Chair. “He’s done a remarkable job increasing dollars under management and directing the growth of the only major firm in the area that offers financial services with a fee for service as part of a client’s portfolio rather than a sales commission.”