Copper Leaf Financial, LLC (hereinafter “Copper Leaf”) is owned by John W. Davis and Bret
L. Hodgdon has been providing advisory services since 2016. As of December 31, 2023,
Copper Leaf managed $189,173,652 on a discretionary basis and none on a non-
discretionary basis. We also have $10,061,761 of assets under advisement for participant-
directed retirement plans.
Copper Leaf’s investment advisory services are offered through a comprehensive wealth
management process centered around holistic financial planning. The process involves the
following steps:
Discovery: Exploration and identification of values, goals, circumstances and data.
Investment Analysis: Preparation of analysis and development of an Investment Policy
Statement outlining a client’s current financial situation relative to goals and objectives.
Development of Investment Plan: Selection of a portfolio and strategies that will correspond
with a client’s specific situation and objectives.
Implementation: Providing for transition and on-going services for the management of
client accounts in accordance with investment and wealth objectives.
Regular Progress Meetings: Contact with clients to determine if financial circumstances or
investment and wealth objectives have changed requiring alternative strategy.
Advanced Planning: Meeting client’s financial priorities beyond the basics, including life
transitions, wealth transfer, wealth protection, charitable giving, etc.
Wealth Management Services
Copper Leaf is a fee-only financial planning and investment advisory firm, providing
personalized, comprehensive wealth management services to individuals, families, trusts,
charitable organizations, pensions and corporations who seek an in-depth, on-going, long
term relationship with a trusted guide in financial matters.
Three major components make up our approach to wealth management: holistic financial
planning, investment management, and advanced planning. All wealth management
services at Copper Leaf begin with financial planning through a thorough analysis of all
aspects of a client’s existing financial circumstances, investment portfolios, savings, cash
flow, aspirations & goals, taxes, retirement plans, liabilities, estate plans, etc.
Financial Planning Services:
In order to provide true wealth management, Copper Leaf requires each wealth
management client to complete an initial financial plan. Our financial planning process is
designed to help clients identify life goals, analyze the financial impact of choices, and
determine how we may help prudently accomplish client’s objectives. We achieve this
through the planning process described above, which involves gathering information and
data, interviews designed to uncover and identify a client’s true goals, objectives,
aspirations and priorities, and a comprehensive analysis and review. In general, the
financial plan provides the foundation for all investment recommendations and decisions
moving forward.
Investment Management Services:
Investment management and consulting is the astute management of investments over
time to assist our clients in achieving their financial goals based on our initial and on-going
planning work. It requires that Copper Leaf deeply understand our clients’ most important
challenges and then design an investment plan that takes clients’ entire situation, time-
frame and tolerance for risk into account, and that describes an approach that will
maximize clients’ probability of achieving those unique goals.
Investment management services include, but are not limited to, the following:
Investment Strategy, Personal Investment Policy, Asset Allocation, Asset Selection, Asset
Location, Risk Tolerance, Regular Portfolio Monitoring, Rebalancing, Tax-Loss Harvesting
Copper Leaf designs a written investment policy statement (IPS) for each client, which
outlines the client’s current situation and a plan to aid in the selection of a portfolio that
matches each client’s specific needs.
Copper Leaf uses financial planning and investment advisory software and processes to
further examine the client’s objectives, risk parameters, liquidity needs, time horizons, tax
circumstances, and family dynamics. Additional discussions and analysis may examine
topics including income and cash flow requirements, business holdings and exit strategies,
investments (including retirement accounts and retirement income resources),
philanthropy, insurance, income tax and estate and legacy planning, pre-retirement
preparation, retirement income planning and sustainability analysis. The client’s existing
investments and activities will then be evaluated with respect to the client’s investment
policy statement and plan.
Copper Leaf will work with new clients to develop a plan to transition from any existing
portfolio to the portfolio and strategies recommended by Copper Leaf. The client’s financial
plan and IPS is dynamic and will be updated as appropriate and as circumstances change.
Copper Leaf will then continuously monitor the client’s portfolio holdings and the overall
asset allocation strategy and hold review meetings with the client regarding the strategies
and accounts as necessary.
Copper Leaf will typically create a portfolio of no-load mutual funds and exchange traded
funds (ETFs) and may use model portfolios if the models match the client's investment
policy. Copper Leaf will allocate the client's assets among various investments taking into
consideration the overall management style selected by the client. Copper Leaf primarily
recommends portfolios consisting of passively managed asset class and index mutual funds
or exchange-traded funds (ETFs). Copper Leaf primarily
recommends securities offered by
Dimensional Fund Advisors (DFA), AQR, Bridgeway, Stone Ridge and Vanguard. DFA and
Vanguard sponsored mutual funds follow a passive asset class investment philosophy with
low holdings turnover.
Client portfolios may also include some individual equity securities in situations where
disposition of these securities would present an overriding tax implication, or the client
specifically requests they be retained for a personal reason. Copper Leaf manages
portfolios on a discretionary basis according to the investment policy selected by the client.
A client may impose any reasonable restrictions on Copper Leaf’s discretionary authority,
including restrictions on the types of securities in which Copper Leaf may invest client’s
assets and on specific securities, which the client may believe to be appropriate. These
situations will be specifically identified in the client’s Investment Policy Statement (IPS).
Copper Leaf may also recommend fixed income portfolios to investment management
clients, which consist of managed accounts of individual bonds or fixed income securities.
Copper Leaf will request discretionary authority from investment management clients to
manage fixed income portfolios, including the discretion to retain a third-party fixed
income manager.
Pursuant to its discretionary authority, Cooper Leaf will retain an independent separate
account manager (“Independent Manager”) for the management of client portfolios. The
Independent Manager will be provided with the discretionary authority to invest client
assets in securities consistent with the client’s Investment Policy Statement. The
Independent Manager will also monitor the account for changes in credit ratings, security
call provisions, and tax loss harvesting opportunities (to the extent that the manager is
provided with cost basis information). Copper Leaf has retained Buckingham Strategic
Partners (“BSP”) as its primary Independent Manager.
In certain circumstances, Copper Leaf will pursue other investment strategies on behalf of
the client and can retain Parametric Portfolio Associates LLC to create other strategies to
assist with tax management or other individual client needs. Parametric Portfolio
Associates LLC is an unaffiliated third-party sub-adviser.
On an ongoing basis, Copper Leaf will answer clients’ inquiries regarding their accounts
and review periodically with clients the performance of their accounts. Copper Leaf will
periodically, and at least annually, review client’s investment policy, risk profile and
discuss the re-balancing of each client’s accounts to the extent appropriate. Copper Leaf
will provide to the Independent Manager any updated client financial information or
account restrictions necessary for Independent Manager to provide sub-advisory services.
In addition to managing the client’s investment portfolio, Copper Leaf may consult with
clients on various financial areas including income and estate tax planning, business sale
structures, college financial planning, retirement planning, insurance analysis, personal
cash flow analysis, establishment and design of retirement plans and estate planning &
trust designs, among other things.
Copper Leaf does not participate in or sponsor any wrap fee programs. Copper Leaf does
not sell insurance or commissioned investment products, nor does it accept commissions
as a result of any product recommendations. Copper Leaf does not pay referral or finders
fees.
Copper Leaf does not prepare taxes, but may refer clients to our affiliate, Davis & Hodgdon
Associates CPAS PLC (see further below in Item 10). Copper Leaf will also work with any
other advisors who provide our clients with professional advice.
Copper Leaf provides consulting to businesses or non-profit clients for retirement plan
evaluation, investment analysis, investment advice, etc.
Employee Benefit Retirement Plan Services:
Copper Leaf also provides advisory services to participant-directed employee retirement
benefit plans through third party administrative services, which are online bundled service
providers offering an opportunity for plan sponsors to provide their participants with daily
account access, valuation, and investment education.
Copper Leaf will analyze the plan's current investment platform, and assist the plan in
creating an investment policy statement defining the types of investments to be offered and
the restrictions that may be imposed. Copper Leaf will recommend investment options to
achieve the plan's objectives, provide participant education meetings, and monitor the
performance of the plan's investment vehicles. Copper Leaf may refer clients to Davis and
Hodgdon Associates, and clients may choose to engage Davis and Hodgdon to prepare
analysis, consulting, or recommendations regarding employer sponsored retirement plans.
Clients are responsible for any fees payable to Davis and Hodgdon.
For certain retirement plans, Copper Leaf also works in coordination and support with
Buckingham Strategic Partners, LLC. (Please see Item 10). Retirement plan clients will
engage both Copper Leaf and Buckingham Strategic Partners, LLC. Buckingham Strategic
Partners, LLC will provide to the client additional discretionary investment management
services and will exercise discretionary authority to select the plan investments made
available to the plans’ participants by selecting and maintain the plans’ investments
according to the goals and investment objectives of the plan.
Copper Leaf will continue to work with plans to monitor plan investments, provide
fiduciary plan advice including regular considerations of the goals and objectives of the
plan, and provide participant education services to the plan.