CSP & Associates, Inc

What CSP & Associates, Inc does

CSP & Associates, Inc. is a privately held, independent financial advisory firm headquartered in Lake Elmo, Minnesota, operating continuously since 1986. The firm provides fee-based financial planning, individual investment advisory, insurance brokerage, and employer benefits consulting to individuals, families, and small-to-mid-market business owners across multiple U.S. states. Its service portfolio spans a structured six-step fee-based financial planning engagement, individual life-stage planning, qualified retirement plans, group benefits (health, dental, vision, life, disability, voluntary), business succession and key-person protection, and estate/legacy planning. The firm operates without proprietary technology, and its competitive position rests on long-tenured advisor relationships, a multi-carrier product shelf, and an extensive educational content library (articles, calculators, newsletters, flipbooks, tax resources).

The firm's revenue mechanics derive from three primary streams: (i) hourly or flat fees for comprehensive written financial plans, (ii) commissions on insurance and annuity placements across 19+ carrier partnerships, and (iii) advisory and securities fees generated through registered representatives of Principal Securities, Inc., the broker-dealer arm of Principal Financial Group. Distribution is relationship-led: licensed representatives (notably Randy Rheault and Rick Peterson) deliver services via one-on-one consultations, phone, email, and contact forms. The firm holds multi-state insurance licenses across IL, MN, NC, ND, OH, OK, SD, TX, and WI, and securities/advisory registrations across 18 states spanning the Midwest, South, Mountain, and Northeast regions.

CSP & Associates is a small practice with five named professionals (two financial advisors and three service/support specialists) and undisclosed overall headcount. It is not an affiliate of any Principal Financial Group entity, but its advisors operate as registered representatives of Principal Securities, Inc. The firm reports no funding rounds, no parent company, no subsidiaries, no M&A activity, and no leadership changes in the available data. No revenue, headcount, or growth metrics are disclosed.

Name

CSP & Associates, Inc

Legal name

CSP & Associates, Inc.

Website

https://cspandassociates.com

Company type

Private

Founded year

1986

Operating status

Operating

Short description

CSP & Associates is a privately held Minnesota-based financial advisory and insurance brokerage firm, founded 1986, serving individuals and small-to-mid-market business owners with fee-based planning, retirement plans, group benefits, and succession planning through licensed representatives affiliated with Principal Securities, Inc.

Ownership category

akta.pro rank

Headquarters

HQ city

Lake Elmo

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Financial Planning Fees: Hourly or flat fee for comprehensive financial planning services including written financial plans covering asset allocation, estate planning, and other topics. Fee structure disclosed during initial consultation.
2. Insurance Products Commission: Commissions earned from sale of insurance products including life insurance, annuities, disability insurance, health insurance, and voluntary benefits through carrier partnerships.
3. Securities Advisory Services: Registered representatives offer securities and advisory services through Principal Securities, Inc., providing investment advice and managing retirement accounts.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels6 records

Core offering

CSP & Associates is an independent financial advisory firm delivering fee-based financial planning through a structured six-step process, complemented by individual financial planning, employer-sponsored employee benefits (qualified retirement plans, group health/dental/vision/disability/life insurance), and business services including succession planning and key person protection. Securities and advisory services are offered through an affiliation with Principal Securities, Inc., and insurance products are delivered through partnerships with approximately 19 carriers.

Product overview

CSP & Associates, Inc is a financial advisory firm offering a comprehensive suite of planning and insurance services. The core offering consists of fee-based financial planning services delivered through a structured six-step process, complemented by individual planning services covering life events, goal-setting, asset protection, and estate planning. For employers, the firm provides employee benefits including qualified retirement plans, group health/dental/vision/disability/life insurance, and nonqualified deferred compensation. Business-specific services include succession planning and key employee protection. The firm also offers a learning center with calculators, research articles, newsletters, flipbooks, and tax resources. The company has been in business since 1986 and is affiliated with Principal Financial Group.

Differentiator

Problem solved

Functional benefit

Products and services

• Fee Based Planning Comprehensive financial planning service delivered through a structured six-step process: information gathering, financial status analysis, customized plan development, presentation, implementation, and ongoing evaluation. Services are provided at hourly or flat fee rates and produce written financial plans covering topics from asset allocation to estate planning.
• Individual Planning Services Personalized financial strategy services for individuals at any life stage, covering preparation for major life events (marriage, home purchase, family, divorce, retirement), financial goal setting, asset protection, and legacy creation through estate planning.
• Employee Benefits Services Employer-focused services including qualified retirement plans (defined contribution and defined benefit), group benefits (dental, disability, life, vision, critical illness), health insurance, bonus plans, and nonqualified deferred compensation plans.
• Business Succession and Key Employee Services Business protection services including business succession planning, key employee retention and retirement solutions, and key person protection insurance.
• Business Owner Lifestyle Protection

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

26 partnerships are on record, tiered primary and minor.

• Principal Financial Group / Principal Securities, Inc.primaryChannel Partner/ Reseller/ DistributorCSP & Associates is affiliated with Principal Financial Group through Principal Securities, Inc. Randy Rheault and Rick Peterson are registered representatives offering securities and advisory services through this partnership. Products include Principal insurance products, retirement plans, and investment services.
• Allianz Life Insurance Company of North AmericaminorChannel Partner/ Reseller/ DistributorInsurance carrier partner providing life insurance and annuity products to CSP & Associates clients.
• AXA Equitable Life Insurance CompanyminorChannel Partner/ Reseller/ DistributorInsurance carrier partner providing life insurance and annuity products.
• Banner Life InsuranceminorChannel Partner/ Reseller/ DistributorInsurance carrier partner providing life insurance products.
• Brighthouse Life Insurance CompanyminorChannel Partner/ Reseller/ DistributorInsurance carrier partner providing life insurance products.
• FidelityminorChannel Partner/ Reseller/ Distributor401(k) retirement plan provider partner.
• Genworth Privileged Choice Long Term CareminorChannel Partner/ Reseller/ DistributorLong-term care insurance carrier partner.
• Jackson National Life Insurance CompanyminorChannel Partner/ Reseller/ DistributorInsurance carrier partner providing annuity and life insurance products.
• John Hancock Life InsuranceminorChannel Partner/ Reseller/ DistributorInsurance carrier partner providing life insurance products.
• Lincoln National Life Ins. CominorChannel Partner/ Reseller/ DistributorInsurance carrier partner providing life insurance and annuity products.
• MetLifeminorChannel Partner/ Reseller/ DistributorMajor insurance carrier partner providing life, disability, and other insurance products.
• Minnesota Life Insurance CompanyminorChannel Partner/ Reseller/ DistributorInsurance carrier partner providing life insurance products.
• Mutual of Omaha Long Term CareminorChannel Partner/ Reseller/ DistributorLong-term care insurance carrier partner.
• Nationwide Life Insurance CompanyminorChannel Partner/ Reseller/ DistributorInsurance carrier partner providing life and retirement products.
• Ohio National Life Insurance Co.minorChannel Partner/ Reseller/ DistributorInsurance carrier partner providing life insurance and annuity products.
• Pacific Life & Annuity CompanyminorChannel Partner/ Reseller/ DistributorInsurance carrier partner providing life and annuity products.
• Prudential Annuities, Inc.minorChannel Partner/ Reseller/ DistributorAnnuity products partner.
• Transamerica Life Insurance CompanyminorChannel Partner/ Reseller/ DistributorInsurance carrier partner providing life and health insurance products.
• United States Life Ins. Co. in the City of NYminorChannel Partner/ Reseller/ DistributorInsurance carrier partner providing life insurance products.
• AetnaminorChannel Partner/ Reseller/ DistributorHealth insurance carrier for Minnesota employer groups.
• BlueCross BlueShield of MNminorChannel Partner/ Reseller/ DistributorHealth insurance carrier for Minnesota employer groups.
• HealthPartnersminorChannel Partner/ Reseller/ DistributorHealth insurance carrier for Minnesota employer groups.
• MedicaminorChannel Partner/ Reseller/ DistributorHealth insurance carrier for Minnesota employer groups.
• UnitedHealthcareminorChannel Partner/ Reseller/ DistributorHealth insurance carrier offering short-term medical and group health plans.
• AnthemminorChannel Partner/ Reseller/ DistributorNational health insurance carrier.
• HumanaminorChannel Partner/ Reseller/ DistributorNational health insurance carrier.

Scale indicators1 record

Recent moves6 records

Expansion highlights4 records

Broad incumbents

• Northwestern Mutual: Large mutual insurer and independent financial advisory network offering life insurance, disability, retirement planning, and wealth management through a captive advisor force. Highly comparable to CSP in product mix and advisor-led distribution model, but vastly larger in scale and brand.
• Wells Fargo Advisors: Wirehouse brokerage arm of Wells Fargo providing investment advisory, retirement, and insurance solutions through a large advisor force. Comparable in product scope but vastly larger and bank-affiliated.
• MassMutual: Mutual insurer with a career-agent and financial advisor network offering life insurance, disability, retirement, and wealth management. Highly comparable to CSP's mix of insurance brokerage and fee-based planning delivered through affiliated advisors.
• Raymond James Financial: Diversified financial services firm with an independent contractor advisor channel offering investment, retirement, insurance, and wealth planning. Comparable to CSP in advisor-led distribution of investment and insurance products.
• Edward Jones: National financial advisory firm serving individual investors and small business owners with retirement, investment, and insurance solutions through a large branch network. Directly comparable to CSP's individual + business owner dual focus and relationship-driven model.
• Ameriprise Financial: Diversified financial services company with a large independent advisor channel offering financial planning, investment advisory, retirement, and insurance products. Comparable to CSP in product breadth and franchise-based advisor distribution.
• New York Life: Mutual life insurer with a large career-agent channel selling life, long-term care, and annuity products, plus retirement and investment services. Comparable to CSP's life insurance and annuity-focused practice with affiliated advisor distribution.

Direct peers

• Primerica: Independent financial services company distributing term life insurance, mutual funds, and investment products through a large network of licensed representatives. Closely comparable to CSP's insurance + securities advisory + multi-representative sales-led model.
• LPL Financial: Largest independent broker-dealer supporting independent financial advisors with investment, advisory, and insurance product platforms. Closely comparable to CSP's independent-advisor model, although LPL serves thousands of advisors at vastly larger scale.
• Cetera Financial Group: Independent broker-dealer supporting independent financial advisors with securities, advisory, and insurance products and back-office infrastructure. Closely comparable to CSP's model of independent advisors affiliating with a broker-dealer/insurance platform.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 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 CSP & Associates, Inc