A. Ownership/Advisory History
Financial Plans & Strategies, Inc. (“FPS”) and/or “the firm”) is an Indiana Corporation located in
Greenwood, IN, specializing in investment advisory services for high-net-worth individuals,
families, trusts, estates and profit-sharing plans. The firm was established by Michael Meiners,
the firm’s principal owner, in 1982.
We are committed to helping clients build, manage, and preserve their wealth, and to providing
assistance that helps clients to achieve their stated financial goals. We may offer an initial
complimentary meeting upon our discretion; however, investment advisory services are initiated
only after you and Financial Plans & Strategies execute an engagement letter or client
agreement.
B. Advisory Services Offered
Discretionary Asset Management Services
For its discretionary asset management services, FPS receives a limited power of attorney to
effect securities transactions on behalf of its clients that include securities and strategies
described in Item 8 of this brochure.
FPS’s discretionary asset management services are predicated on the client's investment
objectives, goals, tolerance for risk, and other personal and financial circumstances. FPS will
analyze each client's current investments, investment objectives, goals, age, time horizon,
financial circumstances, investment experience, investment restrictions and limitations, and risk
tolerance and implement a portfolio consistent with such investment objectives, goals, risk
tolerance and related financial circumstances. In addition, FPS may utilize third-party software to
analyze individual security holdings and separate account managers utilized within the client’s
portfolio.
FPS’s investment advisory services to clients take into account a client's personal financial
circumstances, investment objectives and tolerance for risk (e.g., cash-flow, tax and estate). FPS’s
engagement with a client will include, as appropriate, the following:
▪ Providing assistance in reviewing the client's current investment portfolio against the
client's personal and financial circumstances as disclosed to FPS in response to a
questionnaire and/or in discussions with the client and reviewed in meetings with FPS.
▪ Analyzing the client's financial circumstances, investment holdings and strategy, and
goals.
▪ Providing assistance in identifying a targeted asset allocation and portfolio design.
▪ Implementing and/or recommending individual equity and fixed income securities,
mutual funds and ETFs.
▪ Reporting to the client on a quarterly basis or at some other interval agreed upon with
the client, information on contributions and withdrawals in the client's investment
portfolio, and the performance of the client's portfolio measured against appropriate
benchmarks (including benchmarks selected by the client).
▪ Proposing changes in the client's investment portfolio in consideration of changes in the
client's personal circumstances, investment objectives and tolerance for risk, the
performance record of any of the client's investments, and/or the performance of any
fund retained by the client.
FPS Clients have the right to provide the firm with any reasonable investment restrictions that
should be imposed on the management of their portfolio (to be noted on the client agreement),
and should promptly notify the firm in writing of any changes in such restrictions or in the
client's personal financial circumstances, investment objectives, goals and tolerance for risk. FPS
will remind clients of their obligation to inform the firm of any such changes or any restrictions
that should be imposed on the management of the client’s account. FPS will also contact clients
at least annually to determine whether there have been any changes in a client's personal
financial circumstances, investment objectives and tolerance for risk.
Retirement Plan Advisory Services
Retirement Plan Advisory Services consist of assisting employer plan sponsors to establish,
monitor and review their company's retirement plan. As the needs of the plan sponsor dictate,
areas of advising could include investment selection and monitoring, plan structure, and
participant education. We may provide the following services to Employee Retirement Income
Security Act of 1974, as amended (“ERISA”) clients:
▪ Education and enrollment assistance
▪ Draft, review and refinement of the
Investment Policy Statement (IPS) to ensure the
client’s (the plan sponsor and/or trustee) objectives and risk tolerances have been met
▪ Work with the trustees of the plan to determine the appropriate mutual funds and/or
securities for plan participant investments to meet criteria outlined by the plan
▪ Meet with the trustees of the plan to review the performance of the mutual funds and
other securities selected by the trustees. Recommendations will be made to the trustees,
who then have the sole authority to determine the course of action to take on behalf of
the plan
▪ Periodic reporting as agreed upon
Services available under an Investment Advisory Agreement permit us to provide financial
education to your plan participants. The scope of education provided to participants at your
request will not constitute “investment advice” within the meaning of ERISA and participant
education will relate to general investment principles and information about the investment
options currently in the plan. We may also participate in initial enrollment meetings and periodic
workshops and future enrollment meetings for new participants as we agree upon.
All Retirement Plan Advisory Services shall be in compliance with any applicable Federal and
State law(s) regulating the services provided by our Agreement. This section applies to
an Account that is a pension or other employee benefit plan (a “Plan”) governed by the ERISA. If
your Account is part of a Plan and we accept appointments to provide our services to your
Account, we acknowledge that we are a fiduciary within the meaning of Section 3(21) of ERISA.
Financial Planning
Financial Planning services may be offered on a comprehensive or a la carte (limited focus) basis.
Financial plans may encompass all or some of the following areas of financial concern to the
client:
▪ Estate Planning Goals
▪ Retirement Planning
▪ Education Planning
▪ Insurance Planning/Risk Management
▪ Investments
▪ Asset Allocation Review and Recommendations
▪ Cash management and certain treasury services
Information is obtained through personal interviews (including discussion of current financial
status, future goals and attitude towards risk), and the review of related documents and data
supplied by the client. A written financial plan may be prepared and provided. The
implementation of financial plan recommendations is entirely at the discretion of the client.
Financial plans are not limited in any way to products or services provided by any particular
company. However, in general, only products and services that Financial Plans & Strategies is
able to provide will be offered.
Consulting Services
We also provide clients investment advice on a more-limited basis on one-or-more isolated
areas of concern such as estate planning, real estate, retirement planning, or any other specific
topic. Additionally, we may provide advice on non-securities matters in connection with the
rendering of estate planning, insurance, real estate, and/or annuity advice. In these cases, you
may be required to select your own investment managers, broker-dealer and/or insurance
companies for the implementation of consulting recommendations. If your needs include
brokerage and/or other financial services, we may recommend the use of one of several
investment managers, brokers, banks, custodians, insurance companies or other financial
professionals ("Firms"). You must independently evaluate these Firms before opening an account
or transacting business and have the right to effect business through any firm you choose. You
are under no obligation to follow the consulting advice that we provide.
C. Client-Tailored Services and Client-Imposed Restrictions
Each client’s account will be managed on the basis of the client’s financial situation and
investment objectives and in accordance with any reasonable restrictions imposed by the client
on the management of the account—for example, restricting the type or amount of security to
be purchased in the portfolio.
D. Wrap Fee Programs
FPS does not participate in wrap fee programs, where brokerage commissions and transaction
costs are included in the asset-based fee charged to the client.
E. Client Assets Under Management
As of December 31, 2023, we managed $543,328,204 in client assets on a discretionary basis and
$6,546,296 in client assets on a non-discretionary basis.