Federal Prep logo

Federal Prep

Updated today

Client assets under management

$80,113,636

Clients

637

0% high-net worth

Advisors

3

of 5 employees

Firm type

Supported

1-3 advisors or $200M+ in AUM

Clients per advisor

212

Very High

Average account size

$125,767

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

Portfolio management Selection of other advisers Educational seminars or workshops

Expertise

Annuities Real estate investing

Fee options

Percentage

1.00% annually (generally, negotiable)

Commissions

Insurance products sold by supervised persons may generate commissions

Main office location

Federal Prep

1650 Sycamore Ave., Suite 23

Bohemia NY 11716, United States

Number of offices

5

Most active in

Delaware · Florida · New Jersey · New York · Pennsylvania · Texas · Virginia

Disclosures

Exclamation point means they have disclosures of this type. Check mark means no disclosures of this type were found.

Business activities & affiliations

Advisors at this firm

user avatar

Andrew K

Series 65

Bohemia, NY

Federal Prep

Andrew Kerper is a Series 65 licensed financial advisor with Federal Prep Advisors, Inc., where he has worked since 2022. He has three years of industry experience and a background that includes roles in public education and community organizations. Outside of advising, he is also a licensed life insurance agent. 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 a risk tolerance questionnaire to tailor investment strategies and manages a large client base through a consultative approach.

Annuities Real estate investing
user avatar

Michael K

Series 63, Series 65

Bohemia, NY

Federal Prep

Michael Kerper is a financial advisor at Federal Prep Advisors, Inc. with 32 years of industry experience. He holds Series 63 and Series 65 licenses and has worked at Federal Prep since 2008, including its advisory affiliate Federal Prep Advisors, Inc. and Rainmaker Alliance LLC, of which he is the owner. He is also a licensed insurance agent and occasionally offers insurance products through his Rainmaker Alliance business. 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, and other securities while maintaining a high client-to-advisor ratio.

Annuities Real estate investing
user avatar

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.

Annuities Real estate investing
Warmer team member

Not sure where to start?

We'll help you think it through – whether you ultimately need an advisor or not.

Call (201) 292-4557

Warmer provides personalized recommendations and introductions to independent fiduciary advisors. We do not supervise advisors, manage or hold assets, guarantee performance, or provide advice about specific investments.

Each advisor listed on our site is an independent fiduciary responsible for their own advice. Warmer may receive fees from advisors for participation or referrals; these fees are paid by advisors and do not affect the fees clients pay for advisory services.

For advisor listings, we rely on sources including public filings and data provided by advisors, and we cannot guarantee that all information is current or accurate. Please review an advisor's Form ADV and do your own diligence before entering into an advisory relationship.

By using our service, you agree to Warmer's Terms of Service and Advisory Agreement and Privacy Policy. Logos provided by Logo.dev

© 2026 Warmer Holdings Inc. ("Warmer")