CFAL

What CFAL does

Colina Financial Advisors Ltd. ("CFAL") is an independent investment management and advisory firm headquartered in Nassau, Bahamas, founded in March 1997 with five employees and operating today with an 11–50 person team. CFAL is the investment arm of Colina Holdings Limited, which acquired the firm in September 2013, and manages a family of five mutual funds — Money Market, Bond, Balanced, Global Fixed Income, and Global Equity — alongside a suite of service lines organized into Pensions (group and individual), Wealth Management (investment management, independent asset management, private wealth), Personal Investing (education savings plans, individual savings plans, stock trading and execution), and Corporate Advisory.

The firm's revenue model is a blend of recurring and transaction-based streams. Recurring management fees are charged on mutual fund AUM (e.g., 0.10% per annum on the Global Bond Fund), complemented by advisory fees on pension administration and wealth mandates. Transaction revenue is generated through stock brokerage execution and through CFAL's role as lead placement agent and financial advisor on domestic Bahamian capital markets transactions, including a $100 million oversubscribed bond offering for Island Power Producers closed in November 2025. The technology layer is a conventional advisory platform with a client access portal for online account management and trading; there are no proprietary AI/ML capabilities recorded.

CFAL serves individual investors, HNW clients, corporate pension plans, and institutions across The Bahamas and, through its global funds, internationally. The firm reached $1 billion in Assets Under Administration in December 2010 and has since operated as a mature, relationship-led advisory business with episodic deal-driven revenue from corporate advisory mandates. Distribution is concentrated through direct sales from the Nassau office and the online client portal, with marketing supported by an insights publication series, podcast, and active social media presence.

Name

CFAL

Legal name

Colina Financial Advisors Ltd.

Website

https://cfal.com

Company type

Private

Founded year

1997

Operating status

Operating

Headcount range

11–50 employees

Short description

CFAL (Colina Financial Advisors Ltd.) is a Nassau-based, independent Bahamian investment management and advisory firm managing five mutual funds, pension administration, wealth management, stock brokerage, and corporate advisory services for individual, institutional, and corporate clients across The Bahamas.

Ownership category

akta.pro rank

Product category

Investment Management & Advisory

NAICS

Portfolio Management and Investment Advice (523940), Funds, Trusts, and Other Financial Vehicles (525), Open-End Investment Funds (525910)

SIC

Investment Advice (6282), Security & Commodity Brokers, Dealers, Exchanges & Services (6200)

akta.pro primary industry

Fee-Based Advisory (FSAEAAAM)

akta.pro secondary industry

Debt & Capital Advisory (Debt Raising, Refinancing, Private Credit) (BPAHAOAD)

Keywords

• Investment management
• Pension administration
• Wealth management
• Mutual funds
• Corporate advisory

Headquarters

HQ city

Nassau

HQ country

Bahamas

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Investment Management Fees: Management fees charged on mutual funds and managed portfolios, including the CFAL Money Market Fund, Bond Fund, Balanced Fund, Global Bond Fund, and Global Equity Fund.
2. Financial Advisory Services: Advisory fees for pension administration, wealth management, and corporate advisory services to individuals and institutions.
3. Stock Brokerage and Trading: Revenue from stock trading and execution services for individual and institutional clients.
4. Mutual Fund Management: The Global Bond Fund charges 0.10% p.a. management fees and has an expense ratio of 0.16% (2021). Subscription and redemption fees apply with 1.75% government taxes.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels6 records

Core offering

CFAL is an independent investment management and advisory firm that delivers pension administration, portfolio/investment management, private wealth services, stock brokerage, and corporate advisory (including IPO and bond placement agency) to individuals, employers, and institutions in The Bahamas. The firm also manages and distributes a family of five mutual funds (Money Market, Bond, Balanced, Global Bond, and Global Equity) covering money market, fixed income, balanced, and international equity asset classes. Revenue is generated through mutual fund management fees, advisory fees, and trading commissions.

Product overview

CFAL operates as a multi-product financial services platform offering a comprehensive suite of investment and advisory solutions organized into four main categories: Pensions (Group and Individual), Wealth Management (Investment Management, Independent Asset Management, Private Wealth Services), Personal Investing (Education Plan, Savings Plan, Stock Trading), and Corporate Advisory. The firm also manages a family of five mutual funds including Money Market, Bond, Balanced, Global Bond, and Global Equity funds. The platform architecture is organized around client segments—retail individuals, institutions, and corporations—with products designed to address specific financial needs from retirement planning to capital markets transactions.

Differentiator

Problem solved

Functional benefit

Brands

• CFAL Money Market Investment Fund Ltd: Money market investment fund
• CFAL Bond Fund Ltd
• CFAL Balanced Fund Ltd
• CFAL Global Fixed Income Fund Ltd
• CFAL Global Equity Fund Ltd
• CFAL Junior Investor Program
• CFAL Education Plan
• CFAL Private Equity Fund

Products and services

• Group Pensions Pension administration services for employer-sponsored retirement plans, providing plan management and compliance for corporate clients in The Bahamas.
• Individual Pension Personal pension planning and administration services for individual retirement savings and retirement income strategies in The Bahamas.
• Investment Management Professional portfolio management services for institutional and individual clients, including asset allocation and investment strategy.
• Independent Asset Management Discretionary portfolio management services provided with independence from product manufacturers, focusing on client-specific objectives.
• Private Wealth Services Comprehensive wealth management services for high-net-worth individuals and families, including estate planning and trust services.
• CFAL Education Plan Education savings plan designed to help families save for future educational expenses with tax-advantaged investment options.
• Individual Savings Plan Personal savings and investment account offerings for individual investors seeking to grow wealth over time.
• Stock Trading & Execution Securities brokerage services providing trade execution for domestic and international stocks on behalf of individual and institutional clients.
• Corporate Advisory Advisory services for corporate clients including capital markets transactions, IPOs, bond offerings, and strategic financial guidance.
• CFAL Money Market Investment Fund Ltd A money market mutual fund investing in short-term, high-quality debt securities, offering liquidity and stability for conservative investors in The Bahamas.
• CFAL Bond Fund Ltd A fixed-income mutual fund investing primarily in corporate and government bonds, targeting income generation with moderate risk for investors in The Bahamas.
• CFAL Balanced Fund Ltd A balanced mutual fund that combines equity and fixed-income securities to provide both growth potential and income stability for investors.
• CFAL Global Bond Fund Ltd A global fixed-income fund investing in international bonds, seeking high total risk-adjusted returns through a diversified portfolio of investment grade and non-investment grade securities. Fund size was $21.202M as of June 2024, with management fees of 0.10% p.a. and an expense ratio of 0.16% (2021).
• CFAL Global Equity Fund Ltd An international equity mutual fund investing in global stocks to provide long-term capital growth through diversified international exposure.

Quantifiable outcome

• Reached $1 Billion in Assets Under Administration in December 2010
• +2 more outcomes

Named customers4 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators7 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• JMMB Group: Jamaica-based Caribbean financial services group offering investment management, wealth advisory, and capital markets services. Comparable in size and Caribbean-advisory positioning to CFAL.
• Provident Financial Group: Caribbean-focused financial services and investment advisory firm serving institutional and HNW clients across the region. Comparable boutique investment advisory positioning.
• Butterfield Group: Bermuda-headquartered banking and wealth management group with a Caribbean footprint (including Bahamas). Offers investment management, advisory, and trust services to HNW and institutional clients — the closest regional peer in scope and service mix.

Others

• Lombard Odier: Swiss private bank with a Bahamas office serving HNW Caribbean clients. Different jurisdiction of origin but competes for the same HNW Bahamian wealth pool; relevant for client-pool benchmarking.

Broad incumbents

• Guardian Group: Trinidad-headquartered insurance and financial services group with investment management offerings. Provides pension and wealth management comparable to CFAL's, with broader geographic reach.
• Republic Financial Holdings: Trinidad-headquartered banking group with wealth management and brokerage services across the Caribbean. Comparable institutional distribution and capital markets capabilities.
• Sagicor Financial: Caribbean financial services group with insurance, pensions, and investment management across multiple jurisdictions. Smaller scale than CFAL in pure asset management but broader product suite and similar target market of Caribbean individuals and institutions.
• CIBC Caribbean: Caribbean banking arm of CIBC offering investment management, advisory, and brokerage services. Competes for the same institutional and HNW client base in jurisdictions overlapping with CFAL.
• First Citizens Bank: Trinidad-based regional bank with investment services across the Caribbean. Provides comparable institutional investment management and brokerage services to corporate and HNW clients.
• Scotiabank Caribbean: Canadian bank's Caribbean division offering investment advisory, brokerage, and wealth management across the region. Larger scale and global product access, but competes for similar HNW/institutional clients.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/watch?v=xb5mnKhcx0I&feature=youtu.be
• Facebookfacebook.com/colinafinancial
• LinkedInlinkedin.com/company/cfal

Revenue estimate

Valuation estimate

Number of profiles

Profiles13 records

Subsidiaries5 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about CFAL