Description of Advisory Firm
Root Financial Partners is registered as an Investment Adviser with the SEC. We were founded in
September 2017. James Conole is the principal owner of RFP. Most recently, RFP reported
$399,221,544 in discretionary Assets Under Management and no non-discretionary Assets Under
Management. Assets Under Management were calculated as of February 29, 2024.
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 or an investment
plan 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.
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 tax considerations. Clients may
impose reasonable restrictions on investing in certain securities, types of securities, or industry
sectors. Fees pertaining to this service are outlined in Item 5 of this brochure.
Comprehensive Financial Planning (please see below) is included with this Service.
Financial Planning
We provide financial planning services on topics such as retirement planning, risk management,
college savings, cash flow, debt management, work benefits, and estate and incapacity planning.
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, and employee retirement plan investment
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.
Comprehensive Financial Planning
This service involves working one-on-one with a planner over an extended period of time. By
paying a monthly retainer, clients get continuous access to a planner who will work with them to
design their plan. The planner will monitor the plan, recommend any changes and ensure the plan
is up to date.
Upon desiring a comprehensive plan, a client will be taken through establishing their goals and
values around money. They will be required to provide information to help complete the following
areas of analysis: net worth, cash flow, insurance, credit scores/reports, employee benefit,
retirement planning, insurance, investments, college planning and estate planning. Once the client’s
information is reviewed, their plan will be built and analyzed, and then the findings, analysis and
potential changes to their current situation will be reviewed with the client. Clients subscribing to
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. If a follow up
meeting is required, we will meet at the client's convenience. The plan and the client’s financial
situation and goals will be monitored throughout the year and follow-up phone calls and emails will
be made to the client to confirm that any agreed upon action steps have been carried out. On an
annual basis there will be a full review of this plan to ensure its accuracy and ongoing
appropriateness. Any needed updates will be implemented at that time.
Retirement Plan Services
Our firm provides retirement 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 retirement plan. As the needs of the plan sponsor dictate, areas of advising could
include: investment options, plan structure and participant education.
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 governed by the
Employee Retirement Income Security Act of 1974, as amended (“ERISA”). When 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.
Educational Seminars and Speaking Engagements
We may provide seminars on an “as announced” basis for groups seeking general advice on
investments and other areas of personal finance. The content of these seminars will vary
depending upon the needs of the attendees. These seminars are purely educational in nature and
do not involve the sale of any investment products. Information presented will not be based on any
individual person’s need, nor does RFP provide individualized investment advice to attendees
during these seminars.
When provided, Educational Seminars and Speaking Engagements are done pro-bono.
Client Tailored Services and Client Imposed Restrictions
We offer the same suite of services to all of our clients. However, specific client 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.
Wrap Fee Programs
We do not participate in wrap fee programs.