The firm only operates in the United States, and for regulatory reasons cannot accept clients residing outside the country.

Transcription

1 Parker Financial Planning is fee-only financial advisory firm offering financial planning and investment advisory services in a virtual setting and in person. It is a location independent firm providing services nationwide from its office in Greenville, SC and to Florida residents from its office in Port Charlotte, FL. The firm only operates in the United States, and for regulatory reasons cannot accept clients residing outside the country. Clients must have a permanent U.S. address, a U.S. Social Security Number, and a checking account from a U.S. bank. Nationwide office Florida office 33 Market Point Drive Paulson Drive Greenville, SC Port Charlotte, FL T: (864) T: (941) F: (864) F: (941) Primary contact: Chris Parker, CFP chris@parkerfinancialplanning.com Website: 1

2 Form ADV Part 2A This Brochure updated May 27, 2016 provides information about the qualifications and business practices of Parker Financial Planning, LLC. (herein referred to as PFP or the firm ). If you have any questions about the contents of this Brochure, please contact Chris Parker by at The information in this Brochure has not been approved or verified by the United States Securities and Exchange Commission or by any state securities authority. PFP is a state registered investment adviser. Registration of an Investment Adviser does not imply any level of skill or training. The oral and written communications of an Adviser provide you with information about which you determine to hire or retain an Advisor. Additional information about PFP also is available on the SEC s website at Click on the Investment Adviser Search link and then search for Investment Adviser Firm using the firm s IARD number which is Item 2 Material Changes The firm has amended its previous filing pursuant to its annual update. The phone number of the nationwide office has changed. The fee schedule for each PFP service plan and for trading and custodial fees by Folio Institutional has been updated. The firm now serves clients nationwide from its Greenville, SC. office and to Florida residents from its office in Port Charlotte, FL. For future filings this section of the brochure may address only those material changes that have been incorporated since the firm s last annual update. The firm may at any time update this document and either send a copy of the updated brochure or provide a summary of material changes to its brochure and an offer to send an electronic or hard copy form of the updated brochure. Clients may also contact the firm for a copy at any time. Clients and prospective clients are encouraged to review this brochure in entirety and ask any questions at any time prior to or during engagement. 2

3 Item 3 Table of Contents Item 1 Cover page 1 Item 2 Material Changes....2 Item 3 Table of Contents... 3 Item 4 Advisory Business...4 Item 5 Fees and Compensation Item 6 Performance Based Fees and Side By Side Management...9 Item 7 Types of Clients...9 Item 8 Methods of Analysis, Investment Strategies and Risk of Loss Item 9 Disciplinary Information...11 Item 10 Other Financial Industry Activities and Affiliations...11 Item 11 Code of Ethics Item 12 Brokerage Practices...14 Item 13 Review of Accounts...14 Item 14 Client Referrals and Other Compensation...14 Item 15 Custody...15 Item 16 Investment Discretion...15 Item 17 Voting Client Securities...15 Item 18 Financial Information...15 Item 19 Requirements for State Registered Advisers...16 Part 2B Brochure Supplement (Advisory Personnel)

4 Item 4 Advisory Business Parker Financial Planning is a fee-only financial advisory firm offering financial planning and investment advisory services in a virtual setting and in person. Designed for busy professionals, families, and active retirees, our clients are offered a choice of 4 time flexible service models based on their preferences and needs. Each service offering has been designed personally by Chris Parker, an experienced CERTIFIED FINANCIAL PLANNER professional and Registered Investment Advisor who, through client interactions and his own experience, understands client time is important in fitting in important services. PFP is a location independent firm providing services nationwide from its office in Greenville, SC and to Florida residents from its office in Port Charlotte, FL. The firm was formed in May 2008 by Chris Parker, CFP. Chris Parker is the principal owner.. 4

5 Item 5 Fees and Compensation An initial free 30 minute introductory consultation is provided by video or audio call, phone or via to get acquainted and discuss needs of potential client and determine next steps. Clients may book appointments for meetings online via the parkerfinancialplanning.com website. Services are performed in a virtual setting or in person. As a fee-only firm, PFP does not sell any financial products to Clients and does not accept any form of compensation from third parties for commission. All services are provided on a fee-only basis to maintain complete objectivity and unbiased financial and investment advice. Virtual Client Services Our virtual services are conveniently offered 100% online with no minimum asset requirement. CFP Advisor assistance is available as needed. Nickname; Mr. Roboto Service Details: 100% online with as needed CFP Advisor Minimum: None. A great entry point to firm services as savings grow. Includes 1 hour per year free direct access to CFP Advisor via cell phone, , video or audio. Additional time at discounted rate of $45 per 15 minutes. Customer service, online account access, statements by Folio client services*. Custom portfolio s based on your answers to online questionnaire. Institutionally priced mutual fund portfolio (access to Dimensional Funds). Automated portfolio re-balancing included. Comprehensive Financial Plan (required, discounted fee of $900-$2,700 depending upon complexity). Plans typically range from 5 to 15 hours of planner time from start to finish to complete. Most plans fall in the middle with 10 hours of time to complete.1/2 of the fee is due to begin and 1/2 is due at plan delivery. Flexible payment plans available. Annual financial plan updates (required, $360). Investment account management fee schedule: Up to $250K*.50% Next $250K -$1MM.30% Next $1MM-$2MM.15% $2MM+.10% *Minimum monthly fee of $45 applies. Trading and custodial fees are charged separately by Folio Institutional, Inc. One-time initial portfolio fee of 1.50%. 5

6 Hybrid Client Services Our signature hybrid service combines online and CFP Advisor assistance. This service is both convenient, and provides additional peace of mind and personalized CFP expertise. Nickname: Best of Both Worlds Service Details: Online and CFP Advisor assistance Minimum $250K Includes 4 hours per year free direct access to CFP Advisor via cell phone, , video or audio. Additional time at discounted rate of $40 per 15 minutes. Custom portfolio s created by PFP based on your answers to online questionnaire. Institutionally priced mutual fund portfolio (access to Dimensional Funds). Comprehensive Financial Plan (required, discounted fee of $800 $2,400 depending upon complexity).plans typically range from 5 to 15 hours of planner time from start to finish to complete. Most plans fall in the middle with 10 hours of time to complete.1/2 of the fee is due to begin and 1/2 is due at plan delivery. Flexible payment plans available. Annual financial plan updates (required, $320). Customer service, online access, statements by Folio client services*. Advisor live re-balancing and adjustments included. Investment account management fee schedule: First $250K-$500K.75% Next $500K.50% Next $1MM-$2MM.25% $2MM+.10% *Trading and custodial fees are charged separately by Folio Institutional, Inc. One-time initial portfolio fee of 1.25%. 6

7 Private Client Services Our private client service includes full service and private ongoing account management. Nickname: Private Eyes Service Details: Full service offering Minimum $500K. Includes 8 hours per year free direct access to CFP Advisor via cell phone, , video or audio. Additional time at discounted rate of $35 per 15 minutes. Fully customized investment portfolio (all institutional) Advisor live re-balancing and adjustments included Comprehensive Financial Plan (required, discounted fee of $700 $2,100 depending upon complexity). Plans typically range from 5 to 15 hours of planner time from start to finish to complete. Most plans fall in the middle with 10 hours of time to complete.1/2 of the fee is due to begin and 1/2 is due at plan delivery. Flexible payment plans available. Annual financial plan updates (required, $280). Private ongoing account management by CFP Private Advisor Customer service by Private Advisor directly and/or Folio Institutional Assistance with Banking, Credit and advanced planning areas included. Former consumer and commercial loan officer. Negotiations with lenders included on behalf of client. Estate planning coordination with your or our Attorney included. Custom insurance proposals and negotiation with providers on behalf of client. Tax planning coordination with your or our CPA professional included. Investment account management fee schedule: First $500K 1.00% Next $500K.75% Next $1MM-$2MM.50% $2MM+.25% *Trading and custodial fees are charged separately by Folio Institutional, Inc. One-time initial portfolio fee of 1.00% 7

8 Hourly Client Services Hourly Client Services are offered with no minimum asset requirement on an as-needed basis. Nickname: Clocks Service Details: Hourly services are a good fit for services such as: A check-up to determine progress in meeting financial goals. Financial Plan development Putting together an estate plan. A second opinion on financial issues. A financial planning road map. Retirement accumulation strategies. Structuring tax strategies. Retirement withdrawal strategies. Review of investments in a 401(k). Discussing major life changes. Investment review for do-it-yourselfers. Assistance with setting up accounts at other brokerage firms. Rate is $50 per 15 minute increments. Choice of 15, 30, 45, or 60 minute sessions. Comprehensive Financial Plan available (fee of $1,000-$3,000 depending upon complexity). Plans typically range from 5 to 15 hours of planner time from start to finish to complete. Most plans fall in the middle with 10 hours of time to complete.1/2 of the fee is due to begin and 1/2 is due at plan delivery. Non-discretionary investment advice Other fees: Initial one-time fee of 1.50% for Virtual Clients, 1.25% for Hybrid Clients, and 1.00% for Private Clients of initial portfolio trade. Non-discretionary investment advice is offered for a fee of 2.5% of amount invested. This includes the purchase of institutionally priced, no load, no 12b-1 fee mutual fund shares and access to Dimensional Mutual Fund shares. The Client Service Agreement or Advisory Services Agreement will list the services requested and the specific fees. Fees for investment advisory services rendered are deducted directly from the client s managed account by Folio Institutional. Fees for hourly engagements are pre-paid through the parkerfinancialplanning.com booking system online. Other billing methods may be available upon request by the client and upon approval by the firm. 8

9 Either party may terminate an engagement upon written notice within 5 days of signing the Client Service Agreement. No fees are due if the contract is terminated within the 5 day period. If the Client terminates the agreement after the 5 day period, they are responsible for fees for any work that is performed. PFP fees are exclusive of any fee charged by the custodian of the investment accounts. These may include brokerage commissions, transaction fees, and other related costs and expenses which shall be incurred by the client. No portion of these fees are paid to PFP. Clients may incur certain charges imposed by custodians, brokers, third party investment and other third parties such as fees charged by managers, custodial fees, deferred sales charges, odd lot differentials, transfer taxes, wire transfer and electronic fund fees, and other fees and taxes on brokerage accounts and securities transactions. Mutual funds and exchange traded funds also charge internal management fees, which are disclosed in a fund s prospectus. Such charges, fees and commissions are exclusive of and in addition to the Advisor s fee, and the Advisor shall not receive any portion of these commissions, fees, and costs. PFP currently utilizes Folio Institutional, Inc. as the custodian of client accounts. Folio Institutional, Inc. is a fee-based custodian and is SIPC insured that charges clients a negotiated fee schedule of $7 per equity trade or $25 per mutual fund trade for institutionally priced mutual fund investments, including Dimensional Funds. Other miscellaneous fees are disclosed at account opening with Folio. Item 12 further describes the factors that PFP considers in selecting or recommending broker dealers for client transactions and determining the reasonableness of their compensation (e.g. commissions). Item 6 Performance Based Fees and Side By Side Management PFP does not charge any performance based fees (fees based on a share of capital gains on or capital appreciation of the assets of a client). Item 7 Types of Clients PFP provides services primarily to individuals and families. The firm specializes in Virtual, Hybrid, Private Client, and Hourly advisory services. PFP is a location independent firm offering services to US citizens living in the United States from its principal office in Greenville, SC. Item 8 Methods of Analysis, Investment Strategies and Risk of Loss PFP uses the following method of analysis and investment strategies: 9

10 The Planner/Advisor will evaluate your current financial situation, needs, goals, objectives and tolerance for risk based on the information you provide. The first step in the Advisory Agreement relationship is an Investment Policy Statement preparation meeting between the planner and the client(s) to determine financial goals, appropriate risk tolerance, income needs, and any other pertinent factors necessary to effectively manage the client s resources. Also at this time, planner will obtain necessary information to open the appropriate accounts through Folio Institutional, Inc. and gather enough information for setup client on personal website. Next, planner will assist client(s) with the transfer of the investment accounts from other providers or custodians for Private Clients or by request of client (additional fee). all parties have agreed on services to be provided by planner and on the investment needs of client through the Investment Policy Statement, planner will develop an initial portfolio for the client and begin active management of the account. By this time, client should have been verified by planner to be able to log in to their personal website at Folio Institutional for review of their account at their convenience. Client understands that they may contact planner at any time with regard to their accounts if they have any questions or concerns. Contact with client is normally infrequent for investment management with annual reviews conducted to review performance and updates on any material changes in the relationship or client circumstances. Planner also will contact client normally via as needed to effectively manage the client accounts and to provide service. PFP focuses on a client s long-term financial goals and attempts to meet these goals through effective asset allocation which may comprise of a Tactical Asset Allocation or a Strategic Asset Allocation approach depending upon market conditions. PFP is an approved provider of Dimensional mutual funds (DFA). DFA funds are No Load funds that are only available to institutional investors or clients of an approved Registered Investment Advisor. Folio Institutional, Inc. also provides it s RIA s with pre-designed baskets of securities called Folio s that are ready to use to meet the specific client investment objective and are able to trade commission free if the advisor utilizes one of two trading windows during the trading day (11am and 2pm). PFP may occasionally utilize these Folio s to manage client accounts due to their tax efficiency with advisor ability to buy or sell fractional shares for the client and control taxation of sales. PFP also on occasion may utilize Exchange Traded Funds (ETF s) and/or other No Load Mutual funds to meet a client s investment objectives. A combination of these is typically used for proper asset allocation. 10

11 The Advisor does not recommend or utilize frequent trading of securities, market timing, options trading and speculation. PFP works with clients desiring the assistance of a advisor to meet their long-term financial objectives. PFP believes in effective and proper asset allocation based on Modern Portfolio Theory and employs strategies with this objective in mind. While we believe our investment strategy is designed to potentially produce the highest possible return for a given level of risk, we cannot guarantee that an investment objective or goal will be achieved. Some investment decisions made by us may result in loss, which may include the original principal amount invested. The Client must be able to bear the various risks involved in investing, which may include market risk, security risk, liquidity risk, interest rate risk, currency risk or political risk among others. Item 9 Disciplinary Information Registered investment advisers are required to disclose all material facts regarding any legal or disciplinary events that would be material to your evaluation of PFP. The Advisor has no information applicable to this Item. Item 10 Other Financial Industry Activities and Affiliations PFP may provide referrals to other professionals such as CPAs, attorneys, insurance agents, etc. as a service to Clients. We do not have any agreements with and do not receive referral fees from other Advisors. Item 11 Code of Ethics The firm has adopted a Code of Ethics that sets forth the policies of ethical conduct for all personnel and accepts the obligation not only to comply with the mandates and requirements of all applicable laws and regulation but also to take responsibility to act in an ethical and professionally responsible manner in all professional services and activities. The firm s policies include the prohibition against insider trading, circulation of rumors, certain political contribution activities, among others. Firm personnel that are CFP designees also adhere to the Certified Financial Planner Board of Standards and Code of Ethics. These principles include: Principle 1 Integrity An advisor will provide professional services with integrity. Integrity demands honesty and candor which must not be subordinated to personal gain and advantage. Advisors are placed by clients in positions of trust by clients, and the ultimate source of that trust is the advisor s personal integrity. Allowance can be made for innocent error and legitimate differences of opinion; but integrity cannot coexist with deceit or subordination of one s principles. 11

12 Principle 2 Objectivity An advisor will provide professional services objectively. Objectivity requires intellectual honesty and impartiality. Regardless of the particular service rendered or the capacity in which an advisor functions, an advisor should protect the integrity of their work, maintain objectivity and avoid subordination of their judgment. Principle 3 Competence Advisors will maintain the necessary knowledge and skill to provide professional services competently. Competence means attaining and maintaining an adequate level of knowledge and skill, and applies that knowledge effectively in providing services to clients. Competence also includes the wisdom to recognize the limitations of that knowledge and when consultation with other professionals is appropriate or referral to other professionals necessary. Advisors make a continuing commitment to learning and professional improvement. Principle 4 Fairness Advisors will be fair and reasonable in all professional relationships. Fairness requires impartiality, intellectual honesty and disclosure of material conflict(s) of interest. It involves a subordination of one s own feelings, prejudices and desires so as to achieve a proper balance of conflicting interests. Fairness is treating others in the same fashion that you would want to be treated and is an essential trait of any professional. Principle 5 Confidentiality Advisors will protect the confidentiality of all client information. Confidentiality means ensuring that information is accessible only to those authorized to have access. A relationship of trust and confidence with the client can only be built upon the understanding that the client s information will remain confidential. Principle 6 Professionalism Advisors will act in a manner that demonstrates exemplary professional conduct. Professionalism requires behaving with dignity and courtesy to all who use their services, fellow professionals, and those in related professions. Advisors cooperate with fellow advisors to enhance and maintain the profession s public image and improve the quality of services. 12

13 Principle 7 Diligence Advisors will provide professional services diligently. Diligence is the provision of services in a reasonably prompt and thorough manner, including the proper planning for, and supervision of, the rendering of professional services. Not all organizational duties are segregated; however, the firm employs policies and procedures to ensure timely, accurate record keeping and supervision. Certain functions may be outsourced to assist in these efforts when/as necessary. All material conflicts of interest are disclosed to clients prior to and throughout the term of an engagement that will or may reasonably compromise the firm s impartiality or independence. The firm periodically reviews and amends its Code of Ethics to ensure currency; all firm access persons are required no less than annually to attest to their understanding and adherence. PFP will provide a copy of its Code of Ethics to any client or prospective client upon request. Privacy Policy A copy of the firm s privacy policy notice will be provided to each client prior to, or contemporaneously with, the execution of an engagement agreement. The firm will notify its clients annually of its privacy policy and at any time, in advance, if its privacy policy is expected to change. Participation or Interest in Client Transactions Neither PFP nor any related person are authorized to recommend to a client, or effect a transaction for a client, involving any security in which the firm or a related person has a material financial interest, such as in the capacity as an underwriter, adviser to the issuer, etc. Additionally, employees are prohibited from taking or providing a loan from a client unless it is an approved financial institution or the natural person is an immediate family member Personal Trading The firm and its related persons may buy or sell securities similar to those recommended to clients for their accounts. The firm may also make recommendations or take action with respect to investments for its clients that may differ in nature or timing from recommendations made to or actions taken for other clients or its employees. 13

14 However, at no time will PFP or any related party receive preferential treatment over its clients. In an effort to reduce or eliminate certain conflicts of interest involving personal trading, firm policy may require the utilization of published lists that restrict or prohibit transactions in specific reportable securities transactions. Any exceptions or trading pre clearance must be approved by the firm principal in advance of the transaction in any related person s account. The firm maintains the required personal securities transaction records per regulation. Item 12 Brokerage Practices PFP is not affiliated with any bank, custodian or broker/dealer firm directly except for a Registered Investment Advisor relationship with Folio Institutional, Inc. PFP does not receive any compensation from Folio Institutional, Inc. PFP utilizes the custodial, trading, and record keeping services of Folio Institutional, Inc. to manage client investment advisory accounts. At no time does PFP take physical possession of client funds. All funds are held by a third party custodian, Folio Institutional, Inc., a SIPC insured broker/dealer with additional insurance coverage through Lloyd s of London. For direct management of client investment accounts, PFP requires that clients open accounts at our selected broker/dealer and custodian, Folio Institutional, Inc. in order to provide service for portfolio management. For non-direct management and/or investment advice based on an hourly or projectbasis, clients may choose any broker/dealer or custodian. Item 13 Review of Accounts PFP recommends periodic reviews for the following reasons: Update of changes in client financial circumstances To ensure that clients are on track to meet their goals. Changes to the asset allocation of an investment portfolio Re-balancing of an investment portfolio To take advantage of any tax planning opportunities. Item 14 Client Referrals and Other Compensation PFP pays a fixed monthly fee to the Paladin Registry to match investors with the firm services. Paladin provides a free service to web users who are seeking a financial planner or advisor by matching their needs with the qualifications of a planner or advisor in their area. 14

15 Item 15 Custody PFP does not take custody of client cash, bank accounts or securities. For ongoing clients, client assets are custodied at Folio Institutional, Inc. ww.folioinstitutional.com. Clients that choose ongoing portfolio management and open accounts through Folio Institutional, Inc. receive their own client website with a personal client File Cabinet that allows clients 24/7 access to account information, statements, and any other pertinent information. Clients receive an Advanced Billing Report before a fee due to PFP is deducted from their investment account per the Advisory Agreement. PFP request clients to carefully review these statements provided by Folio Institutional via their personal File Cabinet and contact PFP is any questions arise. Item 16 Investment Discretion Discretionary account management is used for PFP ongoing clients in order for planner/advisor to make timely investment decisions based on current economic conditions. However, non-discretionary management is available. PFP is hired to provide ongoing account management based on a discretionary basis via the client goals described in the client Investment Policy Statement. Clients have 24/7 access to account information via a personal client website through Folio Institutional and may contact planner/advisor at any time they have questions and/or concerns. Item 17 Voting Client Securities PFP does not have any authority to and does not vote proxies on behalf of advisory clients. Clients will receive an directly and a copy in their personal Folio Institutional File Cabinet regarding such announcements. Clients retain the responsibility for reviewing and voting proxies for any and all securities maintained in client portfolios. PFP may provide advice to clients regarding the clients voting of proxies if requested by client. Item 18 Financial Information Registered investment advisers are required in this Item to provide you with certain financial information or disclosures about PFP financial condition. At this time, PFP nor its owner has any financial commitment s that impair its ability to meet contractual and fiduciary commitments to clients, and has not been the subject of a bankruptcy proceeding. 15

16 Item 19 Requirements for State Registered Advisers This item requires State Registered Investment Advisers to provide you with certain information or disclosures about the principals of PFP. Please refer to ADV Part 2b for this information. 16

17 Part 2B Brochure Supplement (Advisory Personnel) Chris Parker, CFP # Parker Financial Planning, LLC Nationwide office Florida office 33 Market Point Drive Paulson Drive Greenville, SC Port Charlotte, FL T: (864) T: (941) F: (864) F: (941) May 27, 2016 This Brochure Supplement provides information about Chris Parker and supplements the Parker Financial Planning, LLC Brochure. You should have received a copy of that Brochure. Please contact Chris Parker, Principal if you did not receive or if you have any questions about the contents of this supplement. Additional Information about Chris Parker is available on the SEC s website at Click on the Investment Adviser Search link and then search for Investment Advisor Representative (IAR) using Chris Parker. 17

18 Item 2 Educational Background and Business Experience Name: Chris Parker (Born 1969) Title: Client Advisor & Principal Formal Education: Bachelor of Science in Business Administration, University of Kentucky (1992) CERTIFIED FINANCIAL PLANNER, College for Financial Planning (2005) Business Background: Parker Financial Planning, LLC., Principal/owner (2008-Present) SunTrust Wealth Management, Vice President/Client Advisor ( ) Mutual Financial Network, Financial Representative Wachovia Bank & Securities, Inc., Licensed Financial Specialist II ( ) Memberships/Associations: Paladin Registry 5 star advisor rating* *Note; For more information on the qualifications and requirements for the Paladin Registry 5 star advisor rating, please feel free to go to the following link: Professional Designations: Certified Financial Planner, CFP (2005) The CERTIFIED FINANCIAL PLANNER, CFP and federally registered CFP (with flame design) marks (collectively, the CFP marks ) are professional certification marks granted in the United States by Certified Financial Planner Board of Standards, Inc. ( CFP Board ). The CFP certification is a voluntary certification; no federal or state law or regulation requires financial planners to hold CFP certification. It is recognized in the United States and a number of other countries for its (1) high standard of professional education; (2) stringent code of conduct and standards of practice; and (3) ethical conduct that require professional engagements with clients. Currently, more than 62,000 individuals have obtained CFP certification in the United States. 18

19 To attain the right to use the CFP marks, an individual must satisfactorily fulfill the following requirements: Education Complete an advanced college-level course of study addressing the financial planning subject areas that CFP Board s studies have determined as necessary for the competent and professional delivery of financial planning services, and attain a Bachelor s Degree from a regionally accredited United States college or university (or its equivalent from a foreign university). CFP Board s financial planning subject areas include insurance planning and risk management, employee benefits planning, investment planning, income tax planning, retirement planning and estate planning; Examination Pass the comprehensive CFP Certification Examination. The examination, administered in 10 hours over a two-day period, includes case studies and client scenarios designed to test one s ability to correctly diagnose financial planning issues and apply one s knowledge of financial planning to real world circumstances: Experience Complete at least three years of full-time financial planning-related experience (or the equivalent, measured as 2,000 hours per year): and Ethics Agree to be bound by CFP Board s Standards of Professional Conduct, a set of documents outlining the ethical and practice standards for CFP professionals. Individuals who become certified must complete the following ongoing education and ethics requirements in order to maintain the right to continue to use the CFP marks: Continuing Education Complete 30 hours of continuing education hours every two years, including two hours on the Code of Ethics and other parts of the Standards of Professional Conduct, to maintain competence and keep up with developments in the financial planning field: and Ethics Renew an agreement to be bound by the Standards of Professional Conduct. The Standards prominently require that CFP professionals provide financial planning services at a fiduciary standard of care. This means CFP professionals must provide financial planning services in the best interests of their clients. CFP professionals who fail to comply with the above standards and requirements may be subject to CFP Board s enforcement process, which could result in suspension or permanent revocation of their CFP certification. Item 3 Disciplinary Information Registered investment advisers are required to disclose all material facts regarding any legal or disciplinary events that would be material to your evaluation of each supervised person providing investment advice. No information is applicable to this Item. 19

20 Item 4 Other Business Activities No outside business activities apply for this Item. Item 5 Additional Compensation Chris Parker does not accept or receive additional economic benefit (i.e. sales awards or other prizes) for providing advisory services to clients. Item 6 Supervision Chris Parker serves in the following capacities for PFP, LLC. Principal Financial Planner Investment Adviser Our chosen custodian of client accounts, Folio Institutional, Inc. maintains all client account records, statements, billing reports, and trading activity reports. These reports are available 24/7 via the client s personal File Cabinet through Folio Institutional client website. For additional questions regarding Folio Institutional, Inc. services, you may call client services at (888) Policies and procedures ensure timely and accurate recordkeeping and supervision, including outsourcing certain functions to qualified entities to assist in these efforts when necessary. Item 7 Requirements for State Registered Advisers This item requires Registered Investment Advisors to provide you with certain financial information or disclosures: No past, current or pending arbitration settlements No past, current or pending civil or criminal actions No past, current or pending personal bankruptcy proceedings Questions about PFP, LLC, its personnel, its services or this document may be directed to Chris Parker at chris@parkerfinancialplanning.com. THANK YOU FOR YOUR INTEREST IN OUR SERVICES AT PARKER FINANCIAL PLANNING. WE LOOK FORWARD TO SERVING YOU WITH YOUR FINANCIAL PLANNING AND INVESTMENT ADVISORY NEEDS. 20