CPA Asset Management Group provides financial planning, portfolio management for individuals and small businesses, selecting other managers, education planning, estate planning, family office services, insurance, tax planning, and tax preparation. Financial planning was provided to 1–10 clients last fiscal year.
CPA Asset Management Group reports 168 clients. They include 84 high-net-worth individuals, 64 individual clients, and 11 corporations and other businesses. Of its assets, 100.0% ($619M across 491 accounts) are managed with discretion. It advised 2 clients without assets under management last fiscal year.
| Client type | Clients | Assets |
|---|---|---|
| Individuals (other than HNW) | 38% | 4% |
| High-net-worth individuals | 50% | 85% |
| Charitable organizations | 5% | 1% |
| Corporations and other businesses | 7% | 10% |
Client breakdown and activity details
| Client type | Clients | Regulatory AUM | AUM share | Avg. per client |
|---|---|---|---|---|
| Individuals (other than HNW) | 64 | $23.5M | 3.8% | $367K |
| High-net-worth individuals | 84 | $527M | 85.0% | $6.27M |
| Charitable organizations | 9 | $7.57M | 1.2% | $841K |
| Corporations and other businesses | 11 | $61.5M | 9.9% | $5.59M |
| Total | 168 | $619M | 100% | $3.69M |
- Clients
- 64
- Regulatory AUM
- $23.5M
- AUM share
- 3.8%
- Avg. per client
- $367K
- Clients
- 84
- Regulatory AUM
- $527M
- AUM share
- 85.0%
- Avg. per client
- $6.27M
- Clients
- 9
- Regulatory AUM
- $7.57M
- AUM share
- 1.2%
- Avg. per client
- $841K
- Clients
- 11
- Regulatory AUM
- $61.5M
- AUM share
- 9.9%
- Avg. per client
- $5.59M
Total
- Clients
- 168
- Regulatory AUM
- $619M
- AUM share
- 100%
- Avg. per client
- $3.69M
- Clients outside the U.S.
- 0%
- Clients advised without assets under management last fiscal year
- 2
- Private funds advised
- 0
- Financial planning clients last fiscal year
- 1–10
CPA Asset Management Group charges 0.30%–1.00% a year for its Investment Supervisory Services. Each asset band is charged at its own rate. The fee is billed in arrears, is negotiable and requires an account of at least $1,000,000. The brochure also prices 2 other services, listed under fee details.
| Asset band | Annual rate |
|---|---|
| $0–$1.5M | 1.00% |
| $1.5M–$5M | 0.70% |
| $5M–$10M | 0.50% |
| $10M and above | 0.30% |
Fee details and sources
Other fees
- Family Office Services and Financial Planning
- Fees are negotiated on estimated time and scope, generally at a fixed rate, or hourly at $100 to $300.
- Tax and Accounting Services
- Billed hourly at $200 to $400, invoiced in installments or after the agreed work is completed.
Mark Elhilow owns 75% or more of CPA Asset Management Group. The leadership team of CPA Asset Management Group includes President Mark Elhilow, Chief Financial Officer Bethany Evans and Chief Compliance Officer Hillary Knotts. It has 11 employees, 5 of them in advisory roles.
Leadership
- Mark ElhilowPresident/Managing Member
- Ronald SmithVice President/Managing Member
- Bethany EvansChief Financial Officer/Member
Hillary KnottsSecretary/Chief Compliance Officer/Member- James JohnsonMember
Investment adviser representatives
5 representatives listed in the SEC register as of 9 October 2026.
Staff
- 11 employees
- 5 in advisory functions
- 5 state-registered reps
- Owns 75% or more of CPA Asset Management Group, LLC
Mark Elhilow
Control person · since April 2002
- Owns 5% to 10% of CPA Asset Management Group, LLC
Ronald Smith
Control person · since February 2007
CPA Asset Management Group’s regulatory assets grew from $485M (May 2021) to $619M (February 2026); clients were 168 in both filings and employees rose from 5 to 11. In 2009, Hamner William Murray joined it.
Figures from each annual filing
| Filed | Regulatory AUM | Clients | Employees | Offices |
|---|---|---|---|---|
| February 2026 | $619M | 168 | 11 | 1 |
| July 2025 | $517M | 168 | 11 | 1 |
| February 2024 | $498M | 170 | 14 | 1 |
| March 2023 | $457M | 168 | 13 | 1 |
| February 2022 | $568M | 171 | 6 | 1 |
| May 2021 | $485M | 175 | 5 | 1 |
Firms that joined
20091 joined
- Hamner William MurrayNo filed AUM
Firms whose SEC withdrawal reports a sale to this firm, and deals reported in the press. Teams that moved without selling a registered firm may not appear.
Besides its headquarters, CPA Asset Management Group has 0 offices, with 1 listed address in Florida.
Florida · 1 listed address
- 501 South Flagler Drive, Suite 220, West Palm BeachHQ
Other business names
CPA Asset Management Group has reported 1 other business name to the SEC.
- Blue Ocean Capital
Contact and registration details
- Legal name
- CPA Asset Management Group, LLC
- Headquarters
- 501 South Flagler Drive, Suite 220, West Palm Beach, FL 33401
- Website
- blueoceancpa.com
- Phone
- 561-659-3301
- @blueocean-capital
- SEC file
- 801-57664
- Founded
- 1997
- Structure
- Florida LLC
- Fiscal year end
- December
CPA Asset Management Group uses Charles Schwab ($590M) as custodian for its separately managed accounts. CPA Asset Management Group has custody of $258M in client assets for 95 clients.
- Charles SchwabCharles Schwab & Co., Inc. · Westlake, TX · $590M100%
At year end, CPA Asset Management Group’s separately managed accounts were mostly in funds (82%) and stocks (12%). Its reported 13F holdings for the quarter ended 30 June 2026 total $347M across 97 positions; the largest are Dimensional ETF Trust (13.5%), Dimensional ETF Trust (7.8%) and Fidelity Merrimack Str TR (6.7%).
What the accounts hold
- Stocks12%
- Funds82%
- Registered funds77%
- Pooled vehicles5%
- Bonds2%
- Cash4%
Reported 13F holdings
- $347M
- Reported 13F value
- 97
- Positions
- 63.9%
- In the 10 largest
- +16.5%
- Value vs. prior quarter
- Dimensional ETF Trust · Shor Dur Fix ETF13.5%
- Dimensional ETF Trust · Emgr Cre EQT Mng7.8%
- Fidelity Merrimack Str TR · Total BD ETF6.7%
- Vanguard Scottsdale Fds · Short Term Treas6.6%
- Dimensional ETF Trust · US Cor Equ 2 ETF5.8%
- Dimensional ETF Trust · Intl Core EQT MK5.7%
- Vanguard Index Fds · Growth ETF5.5%
- iShares Gold TR · iShares New5.2%
- Vanguard Index Fds · Mid Cap ETF4.0%
- Invesco Exch Traded FD TR II · S&P Intl Momnt3.1%
Together, the ten largest are 63.9% of reported value.
How many clients does CPA Asset Management Group have?
CPA Asset Management Group has 168 clients and manages $619 million for them, as of February 2026. They include 84 high-net-worth individuals, 64 individual clients, and 11 corporations and other businesses.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 17 February 2026
What services does CPA Asset Management Group offer?
CPA Asset Management Group provides financial planning, portfolio management for individuals and small businesses, selecting other managers, education planning, estate planning, family office services, insurance, tax planning, and tax preparation.
Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file; Part 2A brochure, Item 4
How much does CPA Asset Management Group charge?
CPA Asset Management Group charges 0.30%–1.00% a year for its Investment Supervisory Services. Each asset band is charged at its own rate. The fee is billed in arrears, is negotiable and requires an account of at least $1,000,000.
Which custodians does CPA Asset Management Group use?
CPA Asset Management Group’s separately managed account assets are held at Charles Schwab & Co., Inc. (Westlake, TX), with $590M. Only custodians holding at least a tenth of those assets are named.
Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 17 February 2026
How many financial advisors does CPA Asset Management Group have?
CPA Asset Management Group has 5 investment adviser representatives registered with state securities authorities, out of 11 employees, and 5 perform investment advisory functions. None are registered representatives of a broker-dealer or licensed insurance agents.
Source: Form ADV Part 1A, Items 5.A and 5.B, from the SEC's 2 October 2026 data file
What does CPA Asset Management Group invest in?
At the end of its last fiscal year, CPA Asset Management Group’s separately managed accounts held 77% registered funds (mutual funds, ETFs, BDCs), 12% exchange-traded equities, 5% pooled vehicles (private funds and similar), 4% cash and equivalents and 2% state and local bonds.
Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file
Does CPA Asset Management Group have a minimum investment?
Yes, CPA Asset Management Group’s minimum account size for its Investment Supervisory Services is $1M.
Who owns CPA Asset Management Group?
CPA Asset Management Group’s direct owners are Mark Elhilow (75% or more) and Ronald Smith (5% to 10%).
Source: Form ADV Part 1A, Schedules A and B, filed 17 February 2026
How does CPA Asset Management Group get paid?
CPA Asset Management Group is paid through a percentage of assets under management, hourly charges and fixed fees. Its Form ADV lists no commissions or performance-based fees among how it is paid.
Source: Form ADV Part 1A, Item 5.E, from the SEC's 2 October 2026 data file
Is CPA Asset Management Group registered with the SEC?
Yes, CPA Asset Management Group has been registered with the SEC as an investment adviser since 22 June 2000. Its CRD number is 107833 and its SEC file number is 801-57664.
Source: Form ADV Part 1A, Item 1, filed 17 February 2026; IAPD firm record
How do I contact CPA Asset Management Group?
CPA Asset Management Group’s main office is at 501 South Flagler Drive, Suite 220, West Palm Beach, FL 33401. Its phone number is 561-659-3301. Its website is blueoceancpa.com.