Firm Information
The Financial Resource Center was incorporated in Indiana as an S Corp and registered as an independent
investment adviser in 2021. The firm conducts business as The Financial Resource Center and is regulated by
the United States Securities and Exchange Commission (SEC).
This disclosure brochure provides information regarding the qualifications, business practices and details of the
advisory services and the applicable fees.
Principal Owner
Carol J. Lane, CFP® , CMFC®
Carol has over thirty-five years of financial planning experience and serves as an Investment Advisor
Representative in addition being the owner. Carol has a bachelor’s degree from Purdue University.
Asset Management
The Financial Resource Center provides asset management services (discretionary or non-discretionary)
primarily to individual Clients and high-net worth individuals. Accounts are managed based on the individual
goals, objectives, time horizon, and risk tolerance of each Client. Once a Client’s goals have been established,
the firm will customize appropriate strategies, as listed below, to suit a Client’s objectives and risk profile.
• Retirement Strategies
• Investment Management
• Estate Conservation
• Estate Transfer
• Succession Planning
• Wealth Accumulation
• Wealth Management
• Tax Management
Investment Advisor Representatives are restricted to providing services and charging fees based in accordance
with the descriptions detailed in this document and the account agreement. However, the exact service and fees
charged to a particular Client are dependent upon the scope and complexity of the Client’s financial situation.
At no time will The Financial Resource Center accept or maintain actual custody of a Client’s funds or
securities. All Client assets will be managed within their designated brokerage account pursuant to the Client
investment advisory agreement.
• Investment advice is not limited to certain investment types.
• There is generally a minimum of $250,000 to open or maintain an account.
• Advisory services are tailored to the individual need of each Client.
• Clients may place reasonable restrictions on investing in certain types of securities.
SEI Mutual Fund Models Program
The Financial Resource Center offers asset management services through the SEI Mutual Fund Models Program
(“SEI Program”) based on the individual needs of clients. Within the SEI Program, we will select a mutual fund
model created by SEI that is generally comprised exclusively of mutual funds in the SEI family of funds (“SEI
Funds”). We will assist clients in selecting models that are consistent with their investment objective and goals,
and we will help them select a rebalancing frequency for their account. SEI will be responsible for rebalancing
the portfolio according to their targeted asset allocations. Client assets in the SEI Program are held at SEI
Private Trust Company as the custodian. While The Financial Resource Center can assist clients completing the
custodian’s paperwork, the client is ultimately responsible for providing the necessary information to establish
the account. Clients will retain all rights of ownership on the account, including the right to withdraw securities
or cash, vote proxies, and receive transaction confirmations. In addition, clients will also have the ability to
impose restrictions on investing in certain securities or types of securities at the time they open the account. In
order to hire The Financial Resource Center to provide management services, the client will be asked to enter
into a written investment advisory agreement with us for the SEI Program. This agreement will set forth the
terms and conditions of our relationship, including the amount of your investment advisory fee.
Financial Planning Services
The Financial Resource Center offers personal financial planning tailored to the individual needs of each client
for their retirement and/or non-retirement account(s). The services can be incorporated into a comprehensive
asset management engagement or by separate agreement, taking into account information collected from the
client such as financial status, investment objectives and tax status, among other data. Such services may be
included as part of a comprehensive asset management engagement or provided separately for a separate fee.
Fees for such services are negotiable and detailed in the client agreement. The financial plan may include
generic recommendations as to general types of investment products or specific securities which may be
appropriate for the client to purchase given his/her financial situation and objectives. The client is under no
obligation to act upon the investment adviser’s recommendation or purchase such securities. Financial planning
is available but not limited to:
• Retirement Planning
• Education Planning
• Major Purchase
• Divorce Planning
• Insurance Planning
• Final Expenses
• Estate Planning
• Cash Flow / Budgeting
• Accumulation Planning
• Tax Planning
• Inheritance Planning
• Business Planning
The amount of time required per plan can vary greatly depending on the scope and complexity of an individual
engagement.
Retirement Plan Consulting
Investment advisor representatives of The Financial Resource Center may assist clients that are trustees or other
fiduciaries to retirement plans (“Plans”) by providing fee-based consulting and/or advisory services. Investment
advisor representatives may perform one or more of the following services, as selected by the client in the client
agreement:
• Assistance in the preparation or review of an investment policy statement (“IPS”) for the Plan based
upon consultation with Client to ascertain Plan’s investment objectives and constraints.
• Acting as a liaison between the Plan and service providers, product sponsors or vendors.
• Ongoing monitoring of investment manager(s) or investments in relation to the criteria specified in the
Plan’s IPS or other written guidelines provided by the Client.
• Preparation of reports describing the performance of Plan investment manager(s) or investments, as well
as comparing the performance to benchmarks.
• Ongoing recommendations, for consideration and selection by client, about specific investments to be
held by the Plan or, in the case of a participant-directed defined contribution plan, to be made available
as investment options under the Plan.
• Education or training for the members of the Plan investment committee with regard to various matters,
including plan features, retirement readiness matters, service on the committee, and fiduciary
responsibilities.
• Assistance in enrolling Plan participants in the Plan, including conducting an agreed upon number of
enrollment meetings.
As part of such meetings, IARs may provide participants with information about the Plan, which may include
information on the benefits of Plan participation, the benefits of increasing Plan contributions, the impact of
pre-retirement withdrawals on retirement income, the terms of the Plan and the operation of the Plan.
If the Plan makes available publicly traded employer stock (“company stock”) as an investment option under
the Plan, investment advisor representatives do not provide investment advice regarding company stock and are
not responsible for the decision to offer company stock as an investment option. In addition, if participants in
the Plan may invest the assets in their accounts through individual brokerage accounts, a mutual fund window,
or other similar arrangement, or may obtain participant loans, investment advisor representatives do not provide
any individualized advice or recommendations to the participants regarding these decisions.
Such services provided as an investment advisor are subject to the Investment Advisers Act of
1940 (“Advisers
Act”), and the advisor is a fiduciary under the Advisers Act with respect to such services. In addition, if client
elects to engage an investment advisor representatives to perform ongoing investment monitoring and ongoing
investment recommendation services to a Plan subject to ERISA in the client agreement, such services will
constitute “investment advice” under Section 3(21)(A)(ii) of ERISA. Therefore, the investment advisor
representatives will be deemed a “fiduciary” as such term is defined under Section 3(21)(A)(ii) of ERISA in
connection with those services. Clients should understand that to the extent the IAR is engaged to perform
services other than ongoing investment monitoring and recommendations, those services are not “investment
advice” under ERISA and therefore, the IAR will not be a “fiduciary” under ERISA with respect to those other
services. From time to time the IAR may make the Plan or Plan participants aware of and may offer services
available from IAR that are separate and apart from the services provided under Retirement Plan Consulting.
Such other services may be services to the Plan, to a client with respect to client's responsibilities to the Plan
and/or to one or more Plan participants. In offering any such services, the IAR is not acting as a fiduciary under
ERISA with respect to such offering of services. If any such separate services are offered to a client, the client
will make an independent assessment of such services without reliance on the advice or judgment of the IAR.
At no time will The Financial Resource Center accept or maintain custody of a Client’s funds or securities,
except for authorized deduction of the Advisor’s fees. All Client assets will be managed within their designated
brokerage account or pension account, pursuant to the Client investment advisory agreement.
Retirement Plan Rollovers
An employee generally has four (4) options for their retirement plan when they leave an employer:
1. Leave the money in his/her former employer’s plan, if permitted
2. Rollover the assets to his/her new employer’s plan if one is available and permitted
3. Rollover to an Individual Retirement Account (IRA), or
4. Cash out the account value, which has significant tax considerations
Each of these options has advantages and disadvantages and before making a change we encourage you to
speak with your CPA and/or tax attorney. If you are considering rolling over your retirement funds to an IRA
for us to manage here are a few points to consider before you do so:
• Determine whether the investment options in your employer's retirement plan address your needs or
whether you might want to consider other types of investments.
• Employer retirement plans generally have a more limited investment menu than IRAs.
• Employer retirement plans may have unique investment options not available to the public such as
employer securities, or previously closed funds.
• Your current plan may have lower fees than our fees.
If you elect to roll the assets to an IRA that is subject to our management, we will charge you an asset-based fee
as set forth in the agreement you executed with our firm. This practice presents a conflict of interest because
Investment Advisor Representatives have an incentive to recommend a rollover to you for the purpose of
generating fee-based compensation rather than solely based on your needs. You are under no obligation,
contractually or otherwise, to complete the rollover. Moreover, if you do complete the rollover, you are under
no obligation to have the assets in an IRA managed by our firm.
Many employers permit former employees to keep their retirement assets in their company plan. Also, current
employees can sometimes move assets out of their company plan before they retire or change jobs. In
determining whether to complete the rollover to an IRA, and to the extent the following options are available,
you should consider the costs and benefits of each. An employee will typically be investing only in mutual
funds, you should understand the cost structure of the share classes, available in your employer's retirement plan
and how the costs of those share classes compare with those available in an IRA. Clients should understand the
various products and services they might take advantage of at an IRA provider and the potential costs of those
products and services.
• Our strategy may have higher risk than the option(s) provided to you in your plan.
• Your current plan may also offer financial advice.
• If you keep your assets titled in a 401k or retirement account, participants could potentially delay their
required minimum distribution beyond age.
• A 401(k) may offer more liability protection than a rollover IRA; each state may vary.
• Participants may be able to take out a loan on your 401k, but not from an IRA.
• IRA assets can be accessed any time; however, distributions are subject to ordinary income tax and may
also be subject to a 10% early distribution penalty unless they qualify for an exception such as disability,
higher education expenses or the purchase of a home.
• If company stock is owned in a plan, participants may be able to liquidate those shares at a lower capital
gains tax rate.
• Plans may allow Advisor to be hired as the manager and keep the assets titled in the plan name.
Generally, federal law protects assets in qualified plans from creditors. Since 2005, IRA assets have been
generally protected from creditors in bankruptcies. However, there can be some exceptions to the general rules
so you should consult with an attorney if you are concerned about protecting your retirement plan assets from
creditors.
It is important to understand the differences between these types of accounts and to decide whether a rollover is
the best option. Prior to proceeding, if you have questions contact your Investment Adviser Representative, or
call our main number as listed on the cover page of this brochure.
When Advisor provides investment advice to you regarding your retirement plan account or individual
retirement account, we are fiduciaries within the meaning of Title I of the Employee Retirement Income
Security Act and/or the Internal Revenue Code, as applicable, which are laws governing retirement accounts.
The way we make money creates some conflicts with your interests, so we operate under a special rule that
requires us to act in your best interest and not put our interest ahead of yours. Under this sp ecial rule’s
provisions, we must:
• Meet a professional standard of care when making investment recommendations (give prudent advice);
• Never put our financial interests ahead of yours when making recommendations (give loyal advice);
• Avoid misleading statements about conflicts of interest, fees, and investments;
• Follow policies and procedures designed to ensure that we give advice that is in your best interest;
• Charge no more than is reasonable for our services; and
• Give you basic information about conflicts of interest.
Advisor also provides educational services to retirement plan participants with assets that could potentially be
rolled-over to an IRA advisory account. Education is based on a particular Client’s financial circumstances and
best interests. Again, Advisor has an incentive to recommend such a rollover based on the compensation
received, which is mitigated by the fiduciary duty to act in a Client’s best interest and acting accordingly.
Client Account Management
Prior to engaging The Financial Resource Center to provide investment advisory services, each Client is
required to enter into an investment advisory agreement that defines the terms, conditions, authority, and
responsibilities.
Assets Under Management
Assets under management will be amended at least annually within 90 of the fiscal year end of December 31st.
Assets under Management (01/26/2024)
Discretionary $0.00 Non-Discretionary $343,403,789