General Information
Cypress Capital Advisors, LLC (hereinafter “the Firm,” “we,” “our,” or “us”) was formed in 2017, and
provides financial planning, portfolio management, general consulting and retirement plan consulting
services to our clients. We also do business under the names Music Row Wealth Management, LLC and JP2
Management.
We are wholly owned by Cypress Capital, LLC, which is owned by Mark Dodson and Michael Brooks. Please
see Brochure Supplement, Part 2B for more information on the individuals who formulate investment
advice and have direct contact with clients, or have discretionary authority over client accounts.
As of 12/31/2023, the Firm managed $323,645,281 on a discretionary basis and no assets on a non-
discretionary basis.
SERVICES PROVIDED
At the outset of each client relationship, we spend time with you, asking questions, discussing your
investment experience and financial circumstances, and reviewing your options. Based on our reviews, we
generally develop with you:
• a financial outline for you based on your financial circumstances and goals, and your risk tolerance
level (the “Financial Profile” or “Profile”); and
• your investment objectives and guidelines (the “Investment Plan” or “Plan”).
The Financial Profile is a reflection of your current financial picture and a look to your future goals. The
Investment Plan outlines the types of investments we will make on your behalf to meet those goals. The
Profile and the Plan are discussed regularly with you, but are not necessarily written documents.
Where we provide limited financial planning or general consulting services, we will work with you to
prepare an appropriate summary of the specific project(s) to the extent necessary or advisable under the
circumstances.
Financial Planning
One of the services that we offer is financial planning, described below. This service may be provided as a
stand-alone service, or may be coupled with ongoing portfolio management.
Financial planning generally includes advice that addresses one or more areas of your financial situation,
such as estate planning, risk management, budgeting and cash flow controls, retirement planning,
education funding, and investment portfolio design. Depending on your particular situation, financial
planning may include some or all of the following, without limitation:
• Gathering factual information concerning your personal and financial situation;
• Assisting you in establishing financial goals and objectives;
• Analyzing your present situation and anticipated future activities in light of your financial goals and
objectives;
• Identifying problems foreseen in the accomplishment of these financial goals and objectives and
offering alternative solutions to the problems;
• Making recommendations to help achieve retirement plan goals and objectives;
• Designing an investment portfolio to help meet your goals and objectives;
• Providing estate planning;
• Assessing risk and reviewing basic health, life and disability insurance needs; or
• Reviewing goals and objectives and measuring progress toward these goals.
Once financial planning advice is given, you may choose to have us implement your financial plan and
manage your investment portfolio on an ongoing basis. However, you are under no obligation to act upon
any of the recommendations made by us under a financial planning engagement and/or to engage the
services of any recommended professional.
Portfolio Management
To implement your Investment Plan, we will manage your investment portfolio on a discretionary basis. As
a discretionary investment adviser, we will have the authority to supervise and direct the portfolio without
prior consultation with you.
Notwithstanding the foregoing, you may impose certain written restrictions on us in the management of
your investment portfolio, such as prohibiting the inclusion of certain types of investments in an investment
portfolio or prohibiting the sale of certain investments held in the account at the commencement of the
relationship. You should note, however, that restrictions imposed by you may adversely affect the
composition and performance of your investment portfolio. You should also note that your investment
portfolio is treated individually by giving consideration to each purchase or sale for your account. For these
and other reasons, performance of your investment portfolio within the same investment objectives, goals
and/or risk tolerance may differ and you should not expect that the composition or performance of your
investment portfolio would necessarily be consistent with similar clients of ours.
Separate Account Managers
When appropriate and in accordance with the Investment Plan for you, we may recommend the use of one
or more Separate Account Managers, each a “Manager.” Having access to various Managers offers a wide
variety of manager styles, and offers clients the opportunity to utilize more than one Manager if necessary
to meet their needs and investment objectives. We will select or recommend the Manager(s) we deem most
appropriate for you. Factors that we consider in recommending/selecting Managers generally include your
stated investment objective(s), management style, performance, risk level, reputation, financial strength,
reporting, pricing, and research.
The Manager(s) will generally be granted discretionary trading authority to provide investment
supervisory services for your portfolio. Under certain circumstances, we retain the authority to terminate
the Manager’s relationship or to add new Managers without your specific consent. In other cases, you will
ultimately select one or more Managers recommended by us.
In any case, with respect to assets managed by a Manager, our role will be to monitor your overall financial
situation, to monitor the investment approach and performance of the Manager(s), and to assist you in
understanding the investments of your portfolio.
Fees paid to such Manager(s) are separate from and in addition to the fee assessed by us. Additionally,
certain Managers may impose more restrictive account requirements than we do and billing practices may
vary. In such instances, we may be required to alter our corresponding account requirements and/or billing
practices to accommodate those of the Manager(s).
Private Funds
We will from time to time, based on your risk tolerance, sophistication and financial qualifications,
recommend that a portion of your assets be invested
in certain private investments. These include private
equity, venture capital, hedge funds, and other types of private investment vehicles (collectively “Private
Funds”). We will assist you in implementation of such recommendations to invest in Private Funds;
however, we do not exercise discretion with respect to these types of investments. We will continue to
render the advisory services to you relative to the ongoing monitoring and review of asset performance
and due diligence of the Private Fund. You are provided with private placement memoranda and other
offering and subscription documentation that detail the nature, risks and associated fees of each Private
Fund. It is important that you read and review these documents with your legal and tax advisors, before
investing, to fully understand the types of investments, risks and conflicts pertaining to the Private Funds.
General Consulting
In addition to the foregoing services, we may provide general consulting services to clients. These services
are generally provided on a project basis, and may include, without limitation, minimal cash flow planning
for certain events such as education expenses or retirement, estate planning analysis, income tax planning
analysis and review of a client’s insurance portfolio, as well as other matters specific to the client as and
when requested by the client and agreed to by us. The scope and fees for consulting services will be
negotiated with each client at the time of engagement for the applicable project.
Retirement Plan Advisory Services
Establishing a sound fiduciary governance process is vital to good decision-making and to ensuring that
prudent procedural steps are followed in making investment decisions. We will provide Retirement Plan
consulting services to Plans and Plan Fiduciaries as described below. The particular services provided will
be detailed in the consulting agreement. The appropriate Plan Fiduciary(ies) designated in the Plan
documents (e.g., the Plan sponsor or named fiduciary) will (i) make the decision to retain our firm; (ii) agree
to the scope of the services that we will provide; and (iii) make the ultimate decision as to accepting any of
the recommendations that we may provide. The Plan Fiduciaries are free to seek independent advice about
the appropriateness of any recommended services for the Plan. Retirement Plan consulting services may
be offered individually or as part of a comprehensive suite of services.
The Employee Retirement Income Security Act of 1974 (“ERISA”) sets forth rules under which Plan
Fiduciaries may retain investment advisers for various types of services with respect to Plan assets. For
certain services, we will be considered a fiduciary under ERISA. For example, we will act as a fiduciary
when providing non-discretionary investment advice to the Plan Fiduciaries by recommending a suite of
investments as choices among which Plan Participants may select. Also, to the extent that the Plan
Fiduciaries retain us to act as an investment manager within the meaning of ERISA § 3(38), we will provide
discretionary investment management services to the Plan.
Fiduciary Management Services
• Discretionary Management Services
When retained as an investment manager within the meaning of ERISA § 3(38), we provide
continuous and ongoing supervision over the designated retirement plan assets. We will actively
monitor the designated retirement plan assets and provide ongoing management of the assets.
When applicable, we will have discretionary authority to make all decisions to buy, sell or hold
securities, cash or other investments for the designated retirement plan assets in our sole discretion
without first consulting with the Plan Fiduciaries. We also have the power and authority to carry
out these decisions by giving instructions, on your behalf, to brokers and dealers and the qualified
custodian(s) of the Plan for our management of the designated retirement plan assets.
• Discretionary Investment Selection Services
We will monitor the investment options of the Plan and add or remove investment options for the
Plan without prior consultation with the Plan Fiduciaries. We will have discretionary authority to
make and implement all decisions regarding the investment options that are available to Plan
Participants.
Rollover Recommendations
As part of our investment advisory services to you, we may recommend that you withdraw the assets from
your employer's retirement plan and roll the assets over to an individual retirement account ("IRA") that
we will manage on your behalf. If you elect to roll the assets to an IRA that is subject to our management,
we will charge you an asset-based fee as set forth in the agreement you executed with our firm. This practice
presents a conflict of interest because persons providing investment advice on our behalf have an incentive
to recommend a rollover to you for the purpose of generating fee-based compensation rather than solely
based on your needs. You are under no obligation, contractually or otherwise, to complete the rollover.
Moreover, if you do complete the rollover, you are under no obligation to have the assets in an IRA managed
by our firm.
Many employers permit former employees to keep their retirement assets in their company plan. Also,
current employees can sometimes move assets out of their company plan before they retire or change jobs.
In determining whether to complete the rollover to an IRA, and to the extent the following options are
available, you should consider the costs and benefits of: 1)) Leaving the funds in your employer's (former
employer's) plan; 2) moving the funds to a new employer's retirement plan; 3) cashing out and taking a
taxable distribution from the plan; and/or 4) rolling the funds into an IRA rollover account. Each of these
options has advantages and disadvantages and before making a change we encourage you to speak with
your CPA and/or tax attorney. Our recommendations may include any of them, depending on what we feel
is in your best interest.
We are fiduciaries under the Investment Advisers Act of 1940 and when we provide investment advice to
you regarding your retirement plan account or individual retirement account, we are also fiduciaries within
the meaning of Title I of the Employee Retirement Income Security Act and/or the Internal Revenue Code,
as applicable, which are laws governing retirement accounts. As a fiduciary, we are required to document
the reason(s) for why the recommendation we made is in your best interest.