Form CRS (Client Relationship Summary) is a uniform disclosure document prescribed by the SEC; it is intended to enhance investor protection by providing succinct and relevant information to retail investors, thus enabling comparability between broker-dealers and investment advisers. The Form CRS is intended to inform retail investors about:
- The types of client and customer relationships and services the firm offers;
- The fees, costs, conflicts of interest, and required standard of conduct associated with those relationships and services;
- Whether the firm and its financial professionals currently have reportable legal or disciplinary history; and
- How to obtain additional information about the firm
- Encourage a dialogue to ask questions (Conversation Starters).
Copper Leaf Financial, LLC is registered with the Securities and Exchange Commission as an investment advisor. Fees for brokerage and investment advisory services differ among broker-dealers and investment advisors and it is important you understand the differences. Free and simple tools are available to research firms and financial professionals at Investor.gov/CRS, which also provides educational materials about broker-dealers, investment advisors, and investing.
What investment services and advice can you provide me?
We offer wealth management services to retail investors, which include financial planning and portfolio management services. We provide periodic advice and reviews regarding your investment goals and objectives, personal balance sheet, tax planning, risk management, retirement, education, cash flow and investment planning. In our portfolio management services, we will continuously monitor your investment accounts over which you provide us with such authority and provide advice. In your investment advisory agreement with us, you give us discretion to determine the investments to buy and sell on your behalf and the authority to select other investment advisers on your behalf, which means we will make the ultimate decision regarding the investments purchased and sold in your account. You may impose reasonable restrictions on our discretionary authority. Any restrictions must be provided to us in writing and accepted by us. As part of portfolio management services, we will continuously monitor your investments. We require a minimum initial and ongoing account size for portfolio management services.
We will discuss the following questions with you to help you better understand the relationship you will have with our firm: Given my financial situation, should I choose an investment advisory service? Why or why not? How will you choose investments to recommend to me? What is your relevant experience, including your licenses, education and other qualifications? What do these qualifications mean?
Please refer to our Form ADV, Part 2A Brochure for more detailed information on our services.
What fees will I pay?
We charge fees for our advisory services and those fees vary among the different types of services we offer. We charge a percentage of assets under management for portfolio management services which are assessed on a quarterly basis, in advance. You should be aware that the more assets there are in your account, the more you will pay in fees. This means we have an incentive to encourage you to increase the assets in your account. We also provide wealth management services to clients and you will be required to pay an on-boarding fee for the initial financial planning work, which generally ranges between $2,500 – $10,000, depending on the complexity of the client situation.
In addition to our fees, you may incur additional fees and costs related to the investments in your account, such as custodian fees, account maintenance fees, transaction costs, surrender charges, wire transfer and electronic fund fees, internal management fees of mutual funds and variable annuities, and other product related fees such as redemption fees.
We will discuss the following question with you to help you better understand the impact of fees and costs on investments: Help me understand how these fees and costs might affect my investments. If I give you $10,000 to invest, how much will go to fees and costs, and how much will be invested for me?”
You will pay fees and costs whether you make or lose money on your investments. Fees and costs will reduce any amount of money you make on your investments over time. Please make sure you understand what fees and costs you are paying.
You should carefully review our Form ADV, Part 2A Brochure to understand the fees and costs you will pay to us. Additionally, you should carefully review fund prospectuses and custodial documents to understand other fees you will pay.
What are your legal obligations to me when acting as my investment advisor? How else does your firm make money and what conflicts of interest do you have?
When we act as your investment advisor, we have to act in your best interest and not put our interest ahead of yours. At the same time, the way we make money creates some conflicts with your interests. You should understand and ask us about these conflicts because they can affect the investment advice we provide you.
Here are some examples to help you understand what this means:
- We recommend mutual funds whose investment companies provide us with educational information and software that provides information helpful in our investment advice process. This is a conflict because we have an incentive to recommend mutual funds that provide us with these tools.
- Members of Copper Leaf are also owners and/or CPA’s of the accounting firm, Davis & Hodgdon Associates CPAs PLC. Davis & Hodgdon Associates CPAs PLC may recommend Copper Leaf to accounting clients in need of advisory services. Copper Leaf may recommend Davis & Hodgdon Associates CPAs PLC to advisory clients in need of accounting services. We have an incentive to recommend our affiliate to you which is a conflict of interest.
We will discuss the following question with you to help you better understand the conflicts of interest we have: How might your conflicts of interest affect me, and how will you address them?
You should carefully review our Form ADV, Part 2A Brochure for more detailed information about our conflicts of interest.
Do you or your financial professionals have legal or disciplinary history?
No, please visit Investor.gov/CRS for a free and simple search tool to research our firm and your financial professional. We will discuss the following questions with you to help you better understand our disciplinary history: As a financial professional, do you have any disciplinary history? For what type of conduct?
You can find additional information about our advisory services in our Form ADV Part 2A Brochure and may request an up-to-date information and a copy of our Relationship Summary by contacting us at (802) 878-2731.
We will discuss the following questions with you so that you better understand who to contact with any questions or complaints: Who is my primary contact person? Is he or she a representative of an investment advisor or a broker-dealer? Who can I talk to if I have concerns about how this person is treating me?
Additional Brochures and Policies
Proprietary papers and writings are the opinions of Copper Leaf Financial. Other articles, links, and information presented on this site are obtained from sources believed to be reliable, but they are for informational purposes only and Advisor does not guarantee their timeliness or accuracy.
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Copper Leaf Financial
Attention: Michael L. Thompson
33 Blair Park Road, Suite 201, Williston, VT 05495