Description of Advisory Firm
Kane Financial, LLC is registered as an Investment Adviser with the Securities and
Exchange Commission. We are a limited liability company and were founded in
November of 2017. Clinton Kane is the principal owner of Kane Financial, LLC.
The following paragraphs describe our services. Please refer to the description of each
investment advisory service below for information on how we tailor our advisory
services to your individual needs.
As used in this brochure, the words “KF”, "we", "our firm", “Advisor” and "us" refer to Kane
Financial, LLC and the words "you", "your" and "client" refer to you as either a client or
prospective client of our firm.
Types of Advisory Services
Investment Management Services
We are in the business of managing individually tailored investment portfolios. Our firm
provides continuous advice to a client regarding the investment of client funds based on
the individual needs of the client. Through personal discussions in which goals and
objectives based on a client's particular circumstances are established, we develop a
client's personal investment policy with an asset allocation target and create and manage
a portfolio based on that policy and allocation targets. We may also review and discuss a
client’s prior investment history, as well as family composition and background. Once
the portfolio is constructed, we provide regular supervision and rebalancing of the
portfolio as changes in market conditions and your circumstances may require.
Account supervision is guided by the stated objectives of the client (e.g., maximum
capital appreciation, growth, income, or growth and income), as well as risk tolerance,
time horizon, and tax considerations. We manage client accounts on a discretionary basis
as further described in Item 16 of this Brochure.
Financial Planning Services
We provide financial planning services to all of our investment management clients at no
additional charge. For clients who do not engage us for investment management, fees
will be billed at our hourly rate as further described in Item 5 of this Brochure.
Financial planning is an evaluation of a client’s current and future financial state by using
currently known variables to predict future cash flows, asset values and withdrawal plans.
The key defining aspect of financial planning is that through the financial planning
process, all questions, information and analysis will be considered as they affect and are
affected by the entire financial and life situation of the client. Clients purchasing this
service will receive a written or an electronic report, providing the client with a detailed
financial plan designed to achieve his or her stated financial goals and objectives.
In general, the financial plan will address any or all of the following areas of concern. The
client and Advisor will work together to select the specific areas to cover. These areas
may include, but are not limited to, the following:
● Business Planning: We provide consulting services for clients who currently
operate their own business, are considering starting a business, or are planning for
an exit from their current business. Under this type of engagement, we work with
you to assess your current situation, identify your objectives, and develop a plan
aimed at achieving your goals.
● Cash Flow and Debt Management: We will conduct a review of your income and
expenses to determine your current surplus or deficit along with advice on
prioritizing how any surplus should be used or how to reduce expenses if they
exceed your income. Advice may also be provided on which debts to pay off first
based on factors such as the interest rate of the debt and any income tax
ramifications. We may also recommend what we believe to be an appropriate cash
reserve that should be considered for emergencies and other financial goals, along
with a review of accounts (such as money market funds) for such reserves, plus
strategies to save desired amounts.
● College Savings: Includes projecting the amount that will be needed to achieve
college or other post-secondary education funding goals, along with advice on
ways for you to save the desired amount. Recommendations as to savings
strategies are included, and, if needed, we will review your financial picture as it
relates to eligibility for financial aid or the best way to contribute to grandchildren
(if appropriate).
● Employee Benefits Optimization: We will provide review and analysis as to
whether you, as an employee, are taking the maximum advantage possible of your
employee benefits. If you are a business owner, we will consider and/or
recommend the various benefit programs that can be structured to meet both
business and personal retirement goals.
● Estate Planning: This usually includes an analysis of your exposure to estate taxes
and your current estate plan, which may include whether you have a will, powers
of attorney, trusts and other related documents. Our advice also typically includes
ways for you to minimize or avoid future estate taxes by implementing
appropriate estate planning strategies such as the use of applicable trusts.
We always recommend that you consult with a qualified attorney when you
initiate, update, or complete estate planning activities. We may provide you with
contact information for attorneys who specialize in estate planning when you wish
to hire an attorney for such purposes. From time-to-time, we will participate in
meetings or phone calls between you and your attorney with your approval or
request.
● Financial Goals: We will help clients identify financial goals and develop a plan to
reach them. We will identify what you plan to accomplish, what resources you will
need to make it happen, how much time you will need to reach the goal, and how
much you should budget for your goal.
● Insurance: Review of existing policies to ensure proper coverage for life, health,
disability, long-term care, liability, home and automobile.
● Investment Analysis: This may involve developing an asset allocation strategy to
meet clients’ financial goals
and risk tolerance, providing information on
investment vehicles and strategies, reviewing employee stock options, as well as
assisting you in establishing your own investment account at a selected
broker/dealer or custodian. The strategies and types of investments we may
recommend are further discussed in Item 8 of this brochure.
● Retirement Planning: Our retirement planning services typically include
projections of your likelihood of achieving your financial goals, typically focusing
on financial independence as the primary objective. For situations where
projections show less than the desired results, we may make recommendations,
including those that may impact the original projections by adjusting certain
variables (e.g., working longer, saving more, spending less, taking more risk with
investments).
If you are near retirement or already retired, advice may be given on appropriate
distribution strategies to minimize the likelihood of running out of money or
having to adversely alter spending during your retirement years.
● Risk Management: A risk management review includes an analysis of your
exposure to major risks that could have a significant adverse impact on your
financial picture, such as premature death, disability, property and casualty losses,
or the need for long‐term care planning. Advice may be provided on ways to
minimize such risks and about weighing the costs of purchasing insurance versus
the benefits of doing so and, likewise, the potential cost of not purchasing
insurance (“self‐insuring”).
● Tax Planning Strategies: Advice may include ways to minimize current and future
income taxes as a part of your overall financial planning picture. For example, we
may make recommendations on which type of account(s) or specific investments
should be owned based in part on their “tax efficiency,” with consideration that
there is always a possibility of future changes to federal, state or local tax laws and
rates that may impact your situation.
We recommend that you consult with a qualified tax professional before initiating
any tax planning strategy, and we may provide you with contact information for
accountants or attorneys who specialize in this area if you wish to hire someone
for such purposes. We will participate in meetings or phone calls between you and
your tax professional with your approval.
Employee Benefit Plan Services
Our firm provides employee benefit plan services to employer plan sponsors on an
ongoing basis. Generally, such services consist of assisting employer plan sponsors in
establishing, monitoring and reviewing their company's participant-directed retirement
plan. As the needs of the plan sponsor dictate, areas of advising could include: investment
options, plan structure and participant education.
In providing employee benefit plan services, our firm does not provide any advisory
services with respect to the following types of assets: employer securities, real estate
(excluding real estate funds and publicly traded REITS), participant loans, non-publicly
traded securities or assets, other illiquid investments, or brokerage window programs
(collectively, “Excluded Assets”).
All retirement plan consulting services shall be in compliance with the applicable state
laws regulating retirement consulting services. This applies to client accounts that are
retirement or other employee benefit plans (“Plan”) governed by the Employee
Retirement Income Security Act of 1974, as amended (“ERISA”). If the client accounts are
part of a Plan, and our firm accepts appointments to provide services to such accounts,
our firm acknowledges its fiduciary standard within the meaning of Section 3(21) or 3(38)
of ERISA as designated by the Retirement Plan Consulting Agreement with respect to the
provision of services described therein.
After consultation with the plan trustee or administrator, KF recommends a plan
custodian based on such factors as the needs and size of the plan, fees associated with use
of the Custodian and types of investments available.
Non ERISA 403(b) Plan Services
KF will create and maintain fully diversified asset allocation models invested in pre-
selected portfolios of mutual funds, money market funds and exchange traded funds
(“ETFs”) for Non-ERISA 403(b) accounts offered through Aspire Financial Services, LLC.
Accounts will be managed on a discretionary basis, as further described in Item 16 of this
Brochure. Clients will be assigned a target date fund or Model Portfolio or combination
thereof based on their risk assessment, investable assets and chosen management
strategy. Clients can choose a diversified Model Portfolio or target date fund or
combination thereof but may not direct the underlying individual investments (such as
mutual funds and ETFs) which comprise the Model Portfolios. The range and types of
diversified asset allocation model portfolios may be changed from time to time by
Adviser.
Client Tailored Services and Client Imposed Restrictions
We offer the same suite of services to all of our clients. However, specific client
investment recommendations and financial plans and their implementation are
dependent upon the client Investment Policy Statement which outlines each client’s
current situation (income, tax levels, and risk tolerance levels) and is used to construct a
client specific plan to aid in the selection of a portfolio that matches restrictions, needs,
and targets.
Clients are able to specify, within reason, any restrictions they would like to place as it
pertains to individual securities and/or sectors that will be traded in their account. All
such requests must be provided to KF in writing. KF cannot accept requests that prohibit
or restrict the purchase of specific securities or types of securities held within mutual
funds or exchange-traded funds purchased by KF, where applicable, in the Client’s
account(s).
Wrap Fee Programs
We do not participate in wrap fee programs.
Assets under Management
As of February 28, 2023, KF has $37,163,005 in discretionary and $0 in non-discretionary
assets under management.