A. Firm Information
Leading Edge Financial Planning LLC (“LEFP” or the “Advisor”) is a registered investment advisor with the U.S.
Securities and Exchange Commission (“SEC”). The Advisor is organized as a Limited Liability Company (LLC)
under the laws of the State of Tennessee. LEFP was founded in November 2015 and is owned and operated by
Kevin Gormley (Chief Financial Officer), Charles Mattingly (Chief Executive Officer and Chief Compliance Officer).
This Disclosure Brochure provides information regarding the qualifications, business practices, and the advisory
services provided by LEFP.
B. Advisory Services Offered
LEFP offers investment advisory services to individuals, high net worth individuals, trusts, estates and businesses
(each referred to as a “Client”).
The Advisor serves as a fiduciary to Clients, as defined under the applicable laws and regulations. As a fiduciary,
the Advisor upholds a duty of loyalty, fairness and good faith towards each Client and seeks to mitigate potential
conflicts of interest. LEFP's fiduciary commitment is further described in the Advisor’s Code of Ethics. For more
information regarding the Code of Ethics, please see Item 11 – Code of Ethics, Participation or Interest in Client
Transactions and Personal Trading.
Wealth Management Services
LEFP provides Clients with wealth management services, which generally include a broad range of financial planning
services as well as discretionary management of investment portfolios.
Financial Planning Services – LEFP will typically provide a variety of financial planning and consulting services to
Clients as a component of wealth management services. Services are offered in several areas of a Client’s financial
situation, depending on their goals and objectives. Generally, such financial planning services involve preparing a
formal financial plan or rendering a specific financial consultation based on the Client’s financial goals and
objectives. This planning or consulting may encompass one or more areas of need, including but not limited to,
investment planning, retirement planning, personal savings, education savings, risk management, college savings,
cash flow, debt management, employer benefits, estate and incapacity planning, insurance analysis, tax planning,
and other areas of a Client’s financial situation.
A financial plan developed for, or financial consultation rendered to the Client will usually include general
recommendations for a course of activity or specific actions to be taken by the Client. For example,
recommendations may be made that the Client start or revise their investment programs, commence or alter
retirement savings, establish education savings and/or charitable giving programs.
LEFP will, when deemed to be in the Client’s best interest, also refer Clients to an accountant, attorney or other
specialists, as appropriate for their unique situation. For certain financial planning engagements, the Advisor will
provide a written summary of the Client’s financial situation, observations, and recommendations. For consulting or
ad-hoc engagements, the Advisor may not provide a written summary.
Financial planning and consulting recommendations pose a conflict between the interests of the Advisor and the
interests of the Client. For example, the Advisor has an incentive to recommend that Clients engage the Advisor for
wealth management services or to increase the level of investment assets with the Advisor, as it would increase the
amount of advisory fees paid to the Advisor. Clients are not obligated to implement any recommendations made by
the Advisor or maintain an ongoing relationship with the Advisor. If the Client elects to act on any of the
recommendations made by the Advisor, the Client is under no obligation to implement the transaction through the
Advisor.
Investment Management Services – LEFP provides customized investment advisory solutions for its Clients. This is
achieved through continuous personal Client contact and interaction while providing discretionary investment
management and related advisory services. LEFP works closely with each Client to identify their investment goals
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and objectives as well as risk tolerance and financial situation in order to create a portfolio strategy. LEFP will then
construct an investment
portfolio, consisting of low-cost, diversified mutual funds and/or exchange-traded funds
(“ETFs”) to achieve the Client’s investment goals. The Advisor may also utilize individual stocks or bonds to meet
the needs of its Clients. The Advisor may retain certain types of investments based on a Client’s legacy
investments based on portfolio fit and/or tax considerations.
LEFP’s investment strategies are primarily long-term focused, but the Advisor may buy, sell or re-allocate positions
that have been held for less than one year to meet the objectives of the Client or due to market conditions. LEFP
will construct, implement and monitor the portfolio to ensure it meets the goals, objectives, circumstances, and risk
tolerance agreed to by the Client. Each Client will have the opportunity to place reasonable restrictions on the types
of investments to be held in their respective portfolio, subject to acceptance by the Advisor.
LEFP evaluates and selects investments for inclusion in Client portfolios only after applying its internal due
diligence process. LEFP may recommend, on occasion, redistributing investment allocations to diversify the
portfolio. LEFP may recommend specific positions to increase sector or asset class weightings. The Advisor may
recommend employing cash positions as a possible hedge against market movement. LEFP may recommend
selling positions for reasons that include, but are not limited to, harvesting capital gains or losses, business or
sector risk exposure to a specific security or class of securities, overvaluation or overweighting of the position[s] in
the portfolio, change in risk tolerance of the Client, generating cash to meet Client needs, or any risk deemed
unacceptable for the Client’s risk tolerance.
Under certain circumstances, LEFP may accept or maintain custody of Client’s funds or securities. Please see Item
15 – Custody for more information.
Retirement Accounts – When the Advisor provides investment advice to Clients regarding ERISA retirement
accounts or individual retirement accounts (“IRAs”), the Advisor is a fiduciary within the meaning of Title I of the
Employee Retirement Income Security Act (“ERISA”) and/or the Internal Revenue Code (“IRC”), as applicable,
which are laws governing retirement accounts. When deemed to be in the Client’s best interest, the Advisor will
provide investment advice to a Client regarding a distribution from an ERISA retirement account or to roll over the
assets to an IRA, or recommend a similar transaction including rollovers from one ERISA sponsored Plan to
another, one IRA to another IRA, or from one type of account to another account (e.g. commission-based account
to fee-based account). Such a recommendation creates a conflict of interest if the Advisor will earn a new (or
increase its current) advisory fee as a result of the transaction. No client is under any obligation to roll over a
retirement account to an account managed by the Advisor.
C. Client Account Management
Prior to engaging LEFP to provide investment advisory services, each Client is required to enter into one or more
agreements with the Advisor that define the terms, conditions, authority and responsibilities of the Advisor and the
Client. These services may include:
● Establishing an Investment Strategy – LEFP, in connection with the Client, will develop a strategy that
seeks to achieve the Client’s goals and objectives.
● Asset Allocation – LEFP will develop a strategic asset allocation that is targeted to meet the investment
objectives, time horizon, financial situation and tolerance for risk for each Client.
● Portfolio Construction – LEFP will develop a portfolio for the Client that is intended to meet the stated goals
and objectives of the Client.
● Wealth Management and Supervision – LEFP will provide wealth management and ongoing oversight of
the Client’s investment portfolio.
D. Wrap Fee Programs
LEFP does not manage or place Client assets into a wrap fee program. Wealth Management services are provided
directly by LEFP.
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E. Assets Under Management
As of December 31, 2023, LEFP manages $273,667,200 in Client assets. $273,659,700 on a discretionary basis,
and $7,500 on a non-discretionary basis. Clients may request more current information at any time by contacting
the Advisor.