A. Our Firm. Human Investing, LLC DBA Human
Investing (“Human Investing,” “firm,” “we,” “our,”
and “us”) is an Oregon limited liability company
registered as an investment advisor with the SEC.
Our principal place of business is located in Lake
Oswego, Oregon. Peter Fisher is the co-founder and
principal owner of Human Investing, which was
founded in 2004.
B & C. Our Services. Human Investing offers
comprehensive financial planning, investment
management, and tax consulting and compliance
services to its clients (“you,” “your,” and “client”).
Additionally, for the workplace, we offer committee
level fiduciary services to retirement plan sponsors
as well as services focused on education and advice
to individual retirement plan participants inside
those workplace accounts (most often consisting of
employer sponsored 401(k) accounts). All services
are tailored to your unique financial goals and needs.
Prior to forming an investment advisor-client
relationship with you, Human Investing may offer you
a complimentary general consultation to discuss the
nature of its services and to determine how we may
best assist you in achieving your financial goals and
objectives. You will be required to enter into one or
more written investment advisory agreements with
us prior to the commencement of an advisor-client
relationship and the delivery of any services. The
written advisory agreement will set forth the scope of
our services, our fees, and our respective rights and
obligations to each other. For more information about
our fees, please see Item 5 of this brochure.
We offer the following investment advisory services:
Financial Planning Services: We offer financial
planning and financial plans which are tailored to
match the unique financial circumstances, goals,
and needs of each client. We focus on a proprietary
four-pillar approach we call “hiPLAN.” This approach
includes: 1) a team of credentialed experts to analyze
and make financial recommendations customized
to your unique financial objectives and needs (a
CERTIFIED FINANCIAL PLANNER™ signs off on
each plan), 2) a proper process, 3) the provision of
fiduciary advice, and 4) emotional fulcrum for the
client. It is from the hiPLAN where we make saving,
investing, and borrowing recommendations to our
clients. The plan we provide to you will contain a
series of investment recommendations that are
designed to accomplish your specific short-term and
long-term financial goals and objectives.
A comprehensive cash-flow based planning process
is utilized to address financial concerns including
social security and retirement planning, education
planning, and various other savings and investment
goals. Goals-based plans may be utilized as well
depending on the client’s financial situation. Full
details regarding the scope of the financial planning
services we will provide to you and the frequency
with which we will review and update our hiPLAN
recommendations to you are set forth in a written
investment advisory agreement you will enter with
Human Investing at the inception of our relationship.
For most clients, we provide these services in
conjunction with our rendering of ongoing investment
management services (described below). In
these circumstances, we will use our investment
discretion to implement and monitor the investments
we recommend in the hiPlan within the client’s
designated investment accounts. Where the client’s
hiPlan includes recommendations related to assets
held outside of the accounts designated for our
ongoing management and supervision, the client
will make all final investment decisions and will be
responsible for implementation and monitoring of all
such “held away” investments. In the rare instances
where we provide financial planning services on
a stand-alone basis, the client makes all final
investment decisions and is solely responsible for the
implementation and monitoring of all recommended
investments.
Investment Management Services: We focus on
developing, managing, and supervising disciplined
investment portfolios prescribed to our clients based
on their unique financial circumstances, investment
objectives, goals, and needs. Most clients who
engage us for these services will receive financial
planning services and hiPLAN recommendations on
human investing®FORM ADV PART 2 • 2
a complimentary basis as part of their engagement.
The nature of our financial
planning services is
described above.
For individual clients, the basis for our
investment management advice is their hiPLAN
recommendations. For institutional clients, the
recommended portfolios are a derivative of their
investment policy statement (“IPS”). We either help
the client build an IPS or we manage the investments
to an existing IPS, depending on the client’s
circumstances. We typically utilize broadly diversified
low-cost index fund portfolios and/or individual
stock and bond strategies depending on the client’s
financial plan/IPS, risk tolerance, and/or stated
investment preferences and restrictions.
When engaging us for these services, you will
typically be required to grant us ongoing and
continuous discretionary authority to execute our
investment recommendations within your designated
accounts without obtaining your prior approval for
each specific transaction. For more information on
the scope of our discretionary authority, please see
Item 16 of this brochure. You are always able to
place reasonable restrictions on our management
of your accounts, such as restricting our ability to
invest in certain specific securities or industries.
Following our initial implementation of the desired
portfolio of investments, we will monitor the status of
your accounts on an ongoing basis and implement
changes to your portfolio as we believe to be
necessary and appropriate based on your unique
investment objectives and needs and our fiduciary
duty to you.
Tax Consulting and Compliance Services: We are
licensed with the State of Oregon’s Board of Tax
Practitioners. Tax preparation and consulting services
(collectively, “Tax Services”) include the preparation
of client tax returns and/or consulting regarding the
client’s specific tax circumstances and needs. Some
tax planning, within the context of a financial plan, is
included within our service offering. Tax compliance
services (e.g., filing tax returns) as well as tax
consulting projects are billed separately and like our
financial planning services, will require gathering all
necessary documents and information from you. You
are never required to engage the firm or any of its
associated persons for Tax Services and may seek tax
preparation and consulting advice from any provider
of your choice.
Workplace Advisory Services: We offer general
employee investment education and tailored
investment advice to retirement plan participants.
We also offer consulting services to retirement plan
sponsors acting as a fiduciary and/or investment
manager pursuant to sections 3(21) and/or 3(38)
of the Employee Retirement Income Security Act of
1974 (“ERISA”). In this capacity, our role is typically
to provide investment management to 401(k) plans
and/or to advise on the selection of funds within
such plans.
The fees associated with each of the above services
are described in Item 5 of this brochure.
D. Wrap Fee Programs. A wrap fee program
generally involves an investment account where
you are charged a single, bundled, or “wrap” fee for
investment advice, brokerage services, administrative
expenses, and other fees and expenses. Except
for services offered under our separate “Access
by Human Investing” advisory program (“Access
Program”), we do not sponsor, serve as the portfolio
manager to, or recommend any wrap fee programs
to our clients. We maintain a separate informational
brochure that describes the nature of our Access
Program services and fees. Please inquire with us at
the telephone number reflected on the cover page of
this brochure if you would like to receive a free copy
of our Access Program brochure.
E. Assets Under Management. Human Investing
manages approximately $639,112,826 of client
assets on a discretionary basis and $1,001,457,068
client assets on a non-discretionary basis. Of the total
assets reflected above, approximately $453,582,057
of non-discretionary assets can be attributed to
retirement plans where Human Investing serves
as a fiduciary under section 3(38) of ERISA, and
$546,852,017 of non-discretionary assets can
be attributed to retirement plans where Human
Investing serves as a fiduciary under section 3(21) of
ERISA. The total amount of regulatory assets under
management for Human Investing is approximately
human investing®FORM ADV PART 2 • 3
$1,640,569,894. These amounts were calculated as
of December 31, 2023.
ITEM 5