Firm Information
The firm was organized as a Florida member managed LLC in 2022 and subsequently registered as an
investment advisor with the SEC.
Principal Owners
Anthony T. Pace, CFP®, CLU, ChFC – Managing Member (45% Owner)
Mr. Pace serves as a managing member with over 30 years of industry experience. He also runs the
company’s Investment Management division.
Anthony has authored articles for the Boston Business Journal and Providence Business Journal on
various investment topics, hosted WPRO Money PRO talk show in Providence, RI, and was named one
of the Hartford Business Journal’s “40 under Forty.”
He is on the Board of Directors for The Entrepreneurs Organization of South Florida, the Program
Committee Chair of the Palm Beach Estate Planning Council and a member of the Palm Beach Tax
Institute. He is past president of both the Financial Planning Association of Connecticut Valley, and
Hartford Association of Insurance and Financial Advisors. Anthony has served on the WSAC and its
predecessor, the M Holdings Securities Advisory Committee.
Carl J. Peterson – Managing Member (45% Owner)
Mr. Peterson serves as a managing member of the RIA with over 30 years of industry experience. He
started in the life insurance business after graduation from University of New Hampshire with a BA in
Economics. He also serves on the Board of Directors for M Financial Securities, Inc, M Life Insurance
Company and the Association for Advanced Life Underwriting (AALU).
Nancy L. Shepard, CFP® – Managing Member & Chief Operating Officer (10% Owner)
Ms. Shepard manages the day to day operations of the firm. She graduated from Marist College and
has almost 30 year of industry experience
Hayley A. Snell – Chief Compliance Officer
Ms. Snell serves as the Chief Compliance Officer and is a graduate of the University of Connecticut.
Advisory Services Offered
Lindberg & Ripple provides financial planning and fee-based investment advisory services primarily to
individual Clients and high-net worth individuals. Services are also available to businesses and
financial institutions. Accounts are managed based on the individual goals, objectives, time horizon,
and risk tolerance of each Client.
Advisory services include, but are not limited to, the following:
Financial Planning Investment Management
Retirement
College
Estate
Cash Flow & Budgeting
Insurance
Diversified Portfolio
Retirement Accounts
Automatic Rebalancing
Stock Option Planning
Tax Planning
Pension Analysis
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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 Investment Advisor
Representatives that are working with the Client. Investment Advisor Representatives will consider the
individual needs of each Client when providing investment advice. Investment strategies and
recommendations are tailored to the individual needs of each Client but generally consist of an asset
allocation consistent with:
1.Income with Capital Preservation. Designed as a longer-term accumulation account, this
investment objective is considered generally the most conservative. Emphasis is placed on
generation of current income with minimal risk of capital loss. Lowering the risk generally
means lowering the potential income and overall return.
2.Income with Moderate Growth. This investment objective emphasizes generation of current
income with a secondary focus on moderate capital growth.
3.Growth with Income. This investment objective emphasizes modest capital growth with some
focus on generation of current income.
4.Growth. This investment objective emphasizes achieving high long-term growth and capital
appreciation. There is little focus on generation of current income.
5.Aggressive Growth. This investment objective emphasizes aggressive growth and maximum
capital appreciation, with no focus on generation of current income. This objective has a
very high level of risk and is for investors with a longer timer horizon.
At no time will Lindberg & Ripple accept or maintain custody of a Client’s funds or securities. All Client
assets will be managed within their designated brokerage account or pension account, pursuant to
the Client investment advisory agreement on a discretionary or non-discretionary basis.
Investment advice is not limited to certain investment types.
A minimum total investment amount of $250,000 is generally required but, a lesser amount will
be considered.
Advisory services are tailored to the individual need of each Client.
Clients may place reasonable restrictions on investing in certain types of securities.
Asset Management Services
Lindberg & Ripple provides customized investment advisory solutions for its Clients. This is achieved
through continuous personal Client contact and interaction while providing discretionary and non-
discretionary investment management and related advisory services.
Our Investment Management Services encompasses asset management as well as providing financial
planning and financial consulting to Clients. It is designed to assist Clients in meeting their financial
goals through the use of financial investments. We conduct at least one, but sometimes more than
one meeting (in person if possible, otherwise via telephone conference) with Clients in order to
understand their current financial situation, existing resources, financial goals, and tolerance for risk.
Based on what we learn, we propose an investment approach to the Client. We generally propose an
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investment portfolio, that consists primarily of exchange traded equity securities, exchange traded
funds, mutual funds (Please see Item 8 for a more comprehensive list of available investment types).
Upon the Client’s agreement to the proposed investment plan, we work with the Client to establish or
transfer investment accounts so that we can manage the Client’s investment portfolio. Once the
relevant accounts are under our management, we review such accounts on a regular basis and at
least quarterly. We may periodically rebalance or adjust Client accounts under our management. If
the Client experiences any significant changes to his/her financial or personal circumstances, the
Client must notify us so that we can consider such information in managing the Client’s investments.
Investment strategies are primarily long-term focused, but the Advisor may buy, sell or re-allocate
positions that have been held less than one year to meet the objectives of the Client or due to market
conditions. Lindberg & Ripple 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.
Lindberg & Ripple may recommend, on occasion, redistributing investment allocations to diversify the
portfolio. Lindberg & Ripple 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. Lindberg & Ripple 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 Client, generating cash to meet Client needs, or any risk deemed unacceptable for
the Client’s risk tolerance.
At no time will Lindberg & Ripple 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 account[s] at the Custodian, pursuant to the Client investment advisory agreement.
Financial Planning Services
We provide a variety of financial planning and consulting services to individuals, families and other
Clients regarding the management of their financial resources based upon an analysis of the Client’s
current situation, goals, and objectives. Generally, such financial planning services will involve
preparing a financial plan or rendering a financial consultation for Clients based on the Client’s
financial goals and objectives. This planning or consulting may encompass one or more of the
following areas:
Investment Planning
Retirement Planning
Estate Planning
Charitable Planning
Education Planning
Corporate and Personal Tax Planning
Cost Segregation Study
Stock Options Analysis
Corporate Structure
Real Estate Analysis
Mortgage/Debt Analysis
Insurance Analysis
Lines of Credit Evaluation
Divorce Planning
Business and Personal Financial
Planning
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Our financial plans usually include general recommendations for a course of action or specific actions
to be taken by the Client. For example, recommendations can be made that the Clients begin or
revise investment programs, create or revise wills or trusts, obtain or revise insurance coverage,
commence or alter retirement savings, or establish education or charitable giving programs. For
written financial planning engagements, we provide our Clients with a written summary of their
financial situation, observations, and recommendations.
For financial consulting engagements, we usually do not provide our Clients with a written summary
of our observations and recommendations as the process is less formal than our planning service.
For consulting or ad-hoc engagements, the Advisor may not provide a written summary. Plans
or consultations are typically completed within six months of contract date, assuming all
information and documents requested are provided promptly.
Implementation of the recommendations will be at the discretion of the Client.
Lindberg & Ripple may also refer Clients to an accountant, attorney or another 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.
Financial planning and consulting recommendations may pose a conflict between the interests of the
Advisor and the interests of the Client. For example, a recommendation to engage the Advisor for
investment management services or to increase the level of investment assets with the Advisor would
pose a conflict, as it would increase the 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 execute the transaction through the Advisor.
Retirement Plan Consulting Services
Investment Advisor Representatives assist Clients that are trustees or other fiduciaries to retirement
plans (“Plans”) by providing fee-based consulting and/or non-discretionary advisory services.
Investment Advisor Representatives perform one or more of the following services, as selected by the
Client in the Client agreement:
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 written
guidelines provided by the Client to the Investment Advisor Representative.
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.
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Training for the members of the Plan Committee with regard to their service on the
Committee, including education and consulting with respect to fiduciary
responsibilities.
Assistance in enrolling Plan participants in the Plan, including conducting an agreed
upon number of enrollment meetings. As part of such meetings, Representatives may
provide participants with information about the Plan, which includes 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.
Assistance with investment education seminars and meetings for Plan participants.
Such meetings may be on a group or individual basis, and includes information about
the investment options under the Plan (e.g., investment objectives, risk/return
characteristics, and historical performance), investment concepts (e.g., diversification,
asset classes,
and risk and return), and how to determine investment time horizons
and assess risk tolerance. Such meetings do not include specific investment advice
about investment options under the Plan as being appropriate for a particular
participant.
Assistance at Client’s direction in making changes to investment options under the
Plan.
Assistance with the preparation, distribution and evaluation of Request for Proposals,
finalist interviews, and conversion support in connection with vendor analysis and
service provider support.
Preparation of comparisons of Plan data (e.g., regarding fees and services and
participant enrollment and contributions) to data from the Plan’s prior years and/or a
benchmark group of similar plans.
Assistance in identifying the fees and other costs borne by the Plan for, as specified by
Client, investment management, record keeping, participant education, participant
communication and/or other services provided with respect to 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 invest the assets in their accounts through individual
brokerage accounts, a mutual fund window, or other similar arrangement, or obtain participant loans,
Investment Advisor Representatives do not provide any individualized advice or recommendations to
the participants regarding these decisions.
If a Client elects to engage the firm and our Investment Advisor Representatives to perform ongoing
investment monitoring and ongoing investment recommendation services in the Client agreement,
such services will constitute “investment advice” under Section 3(21)(A)(ii) of ERISA. Therefore, the
firm and our Investment Advisor Representative will be deemed a “fiduciary” as such term is defined
under Section 3(21)(A)(ii) of ERISA in connection with those services.
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ERISA Fiduciary
Services provided by an Investment Advisor Representative may be 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. If a Client elects to engage an Investment Advisor Representative 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 Investment Advisor Representative is engaged to
perform services other than ongoing investment monitoring and recommendations, those services are
not “investment advice” under ERISA and therefore, the Investment Advisor Representative will not be
a “fiduciary” under ERISA with respect to those other services. From time to time the Investment
Advisor Representative may make the Plan or Plan participants aware of other services available 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 Investment Advisor
Representative 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 Investment Advisor Representative.
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.
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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 70½.
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.
Lindberg & Ripple has special and additional fiduciary responsibilities under the Employee Retirement
Income Security Act of 1974 (“ERISA1”) and the Internal Revenue Code Section 4975 (“IRC 4975”). As a
1 ERISA is the comprehensive federal statute that governs the operation and administration of private pension and welfare benefits plans. The Department of Labor
(“DOL”), and the Pension Benefit Guaranty Corporation (“PBGC”) are responsible for the interpretation and enforcement of ERISA. For solo-participant plans (such
as Individual Retirement Accounts) the DOL has rulemaking authority, however, enforcement jurisdiction resides with the Internal Revenue Service.
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fiduciary2 and party-in-interest3 to a Retirement Investor4, Advisor must conform to certain standards
of conduct, including compliance with any applicable prohibited transaction rules and prohibited
transaction exemptions (PTE’s) governing its relationship when providing fiduciary advice to a
Retirement Investor.
When Lindberg & Ripple provides investment advice regarding a retirement plan account or individual
retirement account, the firm is a fiduciary within the meaning of Title I of the Employee Retirement
Income Security Act (ERISA) and/or the Internal Revenue Code (IRS), as applicable, which are laws
governing retirement accounts.
The way Lindberg & Ripple make money creates a conflict of interests, so the firm operates under a
special rule that requires acting in a Client’s best interest and not put the firm’s interest ahead of a
Client. Under this special rule’s provisions, Lindberg & Ripple must meet a professional standard of care
when making investment recommendations (give prudent advice); never put the firm’s financial
interests ahead of a Client when making recommendations (give loyal advice); avoid misleading
statements about conflicts of interest, fees, and investments; follow policies and procedures designed
to ensure that Lindberg & Ripple gives advice that is in a Client’s best interest; charge no more than is
reasonable for services; and disclose the conflicts of interest.
Lindberg & Ripple can alternatively provide educational services pertaining to retirement plan assets
that could potentially be rolled-over to an IRA managed by the firm. Education is based on a particular
Client’s financial circumstances. Lindberg & Ripple has an incentive to recommend 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 Lindberg & Ripple to provide investment advisory services, each Client is required to
enter into an investment advisory agreement with that defines the terms, conditions, authority, and
responsibilities.
Assets Under Management
The firm is a newly registered investment adviser. Assets under management will be amended at least
annually as of December 31st.
Assets under Management - (04/03/2024)
Discretionary $932,915,457
Non-Discretionary $0.00
Total $932,915,457
2 Fiduciary: On December 15, 2020 the DOL issued its “final interpretation” of the five-part test under its 1975 regulation defining who is a fiduciary under ERISA,
and they withdrew the Deseret Advisory Opinion (2005-23A). The final interpretation broadens the scope of who is an ERISA fiduciary such that recommendations
to rollover qualified plans trigger the functional definition of an ERISA fiduciary. By virtue of Presidential Order Reorganization Plan No. 4 in 1978, the change to
ERISA is mirrored in the IRC and thus also impacts IRAs. The final interpretation became effective on February 24, 2021 with an enforcement date of December
10, 2021.
3 Party-in-Interest: (This term is unique to ERISA. For the equivalent under the Internal Revenue Code see “disqualified person” above.) A person affiliated with
the plan that is: any fiduciary to a plan; any person providing services to the plan; the employer whose Associated Persons are covered by the plan; an employee
organization whose members are covered by the plan; a 50%, or more, owner of such employer; a spouse, ancestor, lineal descendent, or spouse of a lineal descendent
of any of the persons above except an employee organization; a corporation, partnership, trust or estate of which 50% is owned directly or indirectly by persons above
other than relations; an employee, officer, director or 10% or more, shareholder of any persons mentioned above, except a fiduciary or relative; and/or a 10% or more,
partner or joint venture of any person above except a fiduciary or relative.
4 Retirement Investor: The definition of a “retirement investor” includes participants and beneficiaries of an ERISA plan, owners of solo-participant plans such as
IRAs, and fiduciaries to a solo-participant or ERISA plan such as plan fiduciaries. The definition also includes Health Savings Accounts (“HSAs”), Medical Savings
Accounts (“MSAs”) and Coverdell Education Savings Accounts (“Educational IRAs”).
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