A Capital Financial Planners, LLC, d/b/a Capital Financial Planners, is an Oregon limited liability
company and independent investment advisor firm registered with the SEC since 2020. Our sole
offices are located in Salem, Oregon. While the current business organization was formed in 2005,
the origins of our firm date back to 1984, when our founder, Judith Heltzel, began offering
securities and investment advisory services under the “Capital Financial Planners” name as a
representative of various independent broker-dealer and investment advisor firms until her
retirement from the industry in December 2014. Barrigan (“Barry”) Nelson and Chad Campbell
are the current principal owners of the firm. Mr. Nelson became an employee of the firm in 2001,
and an equity partner in January 2007. Mr. Campbell became an employee of the firm in 2013, and
an equity partner in January 2016.
The information contained in this brochure describes our investment advisory services, practices,
and fees. Please refer to the below description of our services for information on how we tailor our
investment advice to the needs of our clients. As used throughout this firm brochure, the words
“Capital Financial Planners,” “we,” “our,” “firm,” and “us” refer to Capital Financial Planners,
LLC, and the words “you,” “your,” and “client” refer to you as either a client or prospective client
of our firm.
Prior to forming an investment advisor-client relationship with you, we may offer a complimentary
general consultation to discuss the nature of our services and determine how we can best assist you
to achieve your financial goals and objectives. Investment advisory services begin only after the
prospective client and Capital Financial Planners formalize their relationship by the execution of a
written advisory agreement.
B C We offer several investment advisory services to clients. Our investment advice is always custom
tailored according to each client’s unique investment profile.
When our services include portfolio management, clients are required to deposit their assets at an
independent qualified custodian (the “Custodian”), typically a licensed broker-dealer, banking or
savings institution, and grant us limited authority to buy and sell securities within their account on
a discretionary basis. The full scope of our authority with respect to management of the client’s
account will be set forth in a written advisory agreement. We act as your fiduciary, responsible for
the management of your investment account(s) at the Custodian, where assets are held in your
name. You authorize our firm and our investment advisor representatives to implement our
investment recommendations directly within your account held at the Custodian without obtaining
your specific consent prior to each transaction.
Clients always have the ability to impose reasonable restrictions on our management of their
account(s), including the ability to instruct us not to purchase certain specific securities, industry
sectors, and/or asset classes. We will attempt to honor the client’s investment restrictions in all
circumstances and will notify you if we are ever unable to do so for any reason.
A description of the individual investment advisory services offered by our firm is set forth below.
Wealth Management Services. Our firm offers wealth management services that combine ongoing
and continuous portfolio management with the delivery of financial planning and consulting advice
that is uniquely tailored to the client’s financial circumstances and needs. Through periodic
consultations with you, we will gather information regarding your financial goals, investment
objectives, tolerance for risk, and the time horizon for investments. The information we typically
request in this process will include your current and expected income level, tax information,
investment experience, current and expected cash needs, current portfolio construction/asset
allocation, and risk tolerance level, among other items. We will document your investment
objectives and restrictions in our files, develop a thorough understanding of your overall investment
profile, and use it as the guide by which we will manage your account(s). We will then recommend
an initial investment strategy and portfolio intended to align with your unique financial situation
and goals.
The foundations of our long-term client relationships are built upon open communication with
clients and understanding their goals, needs, and objectives. While there is no guarantee that our
guidance will meet a client’s objectives over any given period of time, we strive to develop a
strategic plan focused on achieving optimal results. We generally encourage broad diversification
as a hedge against an uncertain future and adequate liquidity to deal with the unexpected. Our
investment philosophy is rooted in Modern Portfolio Theory, which attempts to optimize risk
adjusted returns through systematic diversification across asset classes, including but not limited to
common stocks, corporate bonds, government bonds, commodities, and real estate investment
trusts (“REITs”). Consequently, client portfolios are typically constructed utilizing a diversified
combination of some or all of the following investment instruments: mutual funds, exchange traded
funds (“ETFs”), REITs, commodity interests (accessed through commodity based ETFs),
individual bonds, stocks, U.S. government and municipal securities, cash and cash equivalents.
As part of building your portfolio, we will typically recommend that certain third party money
managers (each an “Independent Manager”) be engaged to provide discretionary management to
all or a portion of your account via “Separately Managed Account” or “SMA” arrangements or,
where multiple SMAs are combined into a single account structure, a “Unified Managed Account”
or “UMA” arrangement. Independent Manager relationships may be structured in the following
ways:
Via a wrap fee program, turn-key asset management program, or other investment platform
offered by an independent custodian, broker-dealer, or third party investment advisor;
Via a direct contractual relationship between you and the Independent Manager; or
Via a direct relationship we maintain with an Independent Manager (each such Independent
Manager a “Sub-Advisor”).
You will be provided with the Form ADV Part 2A (or equivalent disclosures) for any recommended
Independent Manager(s) at or prior to the time they begin to provide advisory services to your
account. For Independent Managers accessed via a wrap fee program, turn-key asset management
program or similar, you will typically be required to enter into a separate advisory agreement,
platform agreement, and/or trading authorization granting them discretionary authority to manage
your account. In the case of Sub-Advisor relationships, we will directly delegate discretionary
authority permitting the Sub-Advisor to execute trades for your account without obtaining your
consent prior to each transaction.
Irrespective of the structure of the Independent Manager relationship, we will continue to serve as
your primary advisor with respect to the entirety of your account. Accordingly, we will monitor
the assets managed by any Independent Manager(s) on an ongoing basis and periodically review
the
suitability of the Independent Manager’s overall investment program. The Independent
Manager(s) shall typically be responsible for all investment selection and trading functions related
to your SMA(s) or UMA(s). We will recommend re-allocations of your assets between and amongst
Independent Managers when we believe such changes to be in your best interests.
Following implementation of your initial investment portfolio, we will monitor the performance of
your account (including any assets managed by any Independent Manager(s)) on an ongoing basis
and implement and/or recommend changes as needed or appropriate, in consideration of current
economic conditions, our market opinions and assumptions, and your individual financial
circumstances and goals. It is your ongoing responsibility to advise us promptly in writing of any
changes to your financial circumstances which may have a material impact on the design of your
investment portfolio.
In addition to our discretionary management of your investment accounts, we will also provide you
with ad-hoc financial consulting and financial planning services that are intended to assist you with
the management of your overall financial affairs. Our ad-hoc financial consulting advice will be
provided to you through a combination of in-person consultations, phone conferences, and/or via
electronic means (e.g., e-mail). As appropriate for your circumstances, we will also provide you
with a written financial plan which we will update and review periodically, as necessary and
appropriate, based on your investment needs and objectives and any material changes in your
financial situation. We will also review and update your financial plan at such other times as you
may reasonably request. Wealth management clients receive these additional services at no extra
charge.
Where our financial consulting or planning recommendations concern assets “held away” from the
investment accounts we manage on your behalf (e.g., variable life insurance products, annuity
contracts, assets held in employer sponsored retirement plans, or qualified tuition plans), you will
make the ultimate investment decision and will be responsible for implementation of such
decisions. While we do not provide legal or tax advice, we will attempt to coordinate our wealth
management services (including our financial planning and consulting advice) with the services of
your existing third party tax, legal, accounting, and/or insurance advisors. A description of our
financial planning and consulting services is below.
Financial Planning and Consulting Services. For clients who need financial planning and consulting
services, but for whom ongoing wealth management isn’t a good fit, our firm also offers financial
planning and consulting as a stand-alone service. These services may address, without limitation,
some or all of the following topics:
Retirement Planning
Tax Planning
Legacy Planning
Estate Planning
Charitable Planning
Education Planning
Budgeting and Cash Flow Management
Clients who engage us for these services receive a consultation to discuss their unique financial
circumstances, investment objectives and needs, tolerance for risk, time horizon for investments,
and any particular issues of financial concern related to the selected financial planning and
consulting topics. We will review pertinent financial documents and information provided by the
client and present the client with a written financial plan or shorter report as appropriate for the
scope of the engagement. The financial plan or report will include a summary of the client’s
financial circumstances and a course of actions and/or investment recommendations designed to
assist the client in achieving the client’s stated financial goals. For clients who engage these services
on a stand-alone basis, the written financial plan or report is not updated or reviewed following its
initial delivery to the client, unless we specifically agree otherwise. Additional fees will apply for
reviews and updates to the written financial plan or report, if requested.
Financial planning and consulting services are non-discretionary in nature. The client retains the
sole discretion to accept or reject any of our recommendations, in whole or in part, and is
responsible for their implementation, including the selection of service providers, and the
monitoring of their investments. Upon request, we may assist the client with implementation and
monitoring of our financial recommendations - additional fees may apply. Clients are never
obligated to use our firm for implementation and monitoring services and are never charged more
than $1,200 six (6) or more months in advance in connection with our financial planning and
consulting services.
As part of this service, we may recommend the use of certain third-party professionals (e.g.,
attorneys, tax advisors, accountants, and insurance professionals) to assist you in implementing the
advice and recommendations we provide. We do not receive compensation or referral fees of any
kind in connection with these recommendations. You are never obligated to engage any
recommended third-party professional(s) and elect to do so at your sole discretion and risk. You
will independently contract with such service providers and their fees are not included within the
advisory fees paid to Capital Financial Planners. We do not provide legal or tax advice of any kind.
D Wrap Fee Programs. When deemed appropriate, our wealth management services may incorporate
the use of certain third party sponsored wrap fee programs. As of the date of this brochure, we may
recommend that certain clients participate in the “AssetMark Platform,” a wrap fee program that is
sponsored by Assetmark, Inc. (“AssetMark”), an independent SEC registered investment advisor
firm. We may recommend other wrap fee programs to clients in the future.
The minimum investment required on the AssetMark Platform depends upon the investment
solution chosen for your account and is generally $100,000 for mutual fund and ETF accounts, and
from $50,000 to $1,000,000 for privately managed and Unified Managed Accounts, depending on
the investment strategy selected for the account. Accounts below the stated minimums may be
accepted on an individual basis at the discretion of AssetMark. Additional terms and conditions of
participation in the AssetMark Platform are described in more detail in the separate AssetMark
Platform Disclosure Brochure (“AssetMark Platform Brochure”), a copy of which shall be provided
to you prior to or at the time of our recommendation of the program. Please call us at the telephone
number found on the cover of this firm brochure if you did not receive a copy of this separate
brochure.
The types of investments we typically recommend to clients are described above in this Item 4. We
may also advise clients on any assets held in their portfolio at the time of our engagement and other
investments not listed above at the client’s specific request.
Please see Item 8 of this brochure or a description of the investment strategies we typically
implement in client accounts.
E As of December 31, 2023, we manage approximately $215,851,389 in client assets on a
discretionary basis and $0 of client assets on a non-discretionary basis.