Item 5 - Additional Compensation .......................................................................................................................... 20
Item 6 - Supervision ..................................................................................................................................................... 20
Brochure Supplement (Part 2B of Form ADV) .......................................................................... 22
Item 2 - Educational Background and Business Experience ....................................................................... 22
Item 3 - Disciplinary Information ........................................................................................................................... 24
Item 5 - Additional Compensation .......................................................................................................................... 24
Item 6 - Supervision ..................................................................................................................................................... 24
Brochure Supplement (Part 2B of Form ADV) .......................................................................... 26
Item 2 - Educational Background and Business Experience ....................................................................... 26
Item 3 - Disciplinary Information ........................................................................................................................... 26
Item 5 - Additional Compensation .......................................................................................................................... 26
Item 6 - Supervision ..................................................................................................................................................... 26
Firm Description
Financial Freedom for Dentists LLC (“FFD”) was founded in 2019. Nathan J. Ricks is 100%
owner.
Types of Advisory Services
ASSET MANAGEMENT
FFD offers discretionary asset management services to advisory Clients. FFD will offer
Clients ongoing asset management services through determining individual investment
goals, time horizons, objectives, and risk tolerance. Investment strategies, investment
selection, asset allocation, portfolio monitoring and the overall investment program will be
based on the above factors. The Client will authorize FFD discretionary authority to execute
selected investment program transactions as stated within the Investment Advisory
Agreement.
FFD shall have authority in its sole discretion to:
1. Direct the Custodian to invest and reinvest or sell the Account assets in common and
preferred stocks, bonds, debentures, notes, mutual fund shares, exchange traded funds,
and options.
2. Direct the Custodian to exercise or abstain from exercising any options, privileges or
rights held as part of the account.
3. Render to Client at least quarterly a written statement of the investments of the Account.
This statement may come directly from the Custodian.
Clients
always
have the option to purchase investment products that FFD recommends
through other brokers or agents that are not affiliated with us.
As part of the recommendations provided, Clients who have assets under management over
$500,000 held with FFD may have a financial plan completed at no additional charge. This may
include but is not limited to a thorough review of all applicable services such as Financial Goal
Development, Net Worth Analysis, Cash Flow Analysis, Education Planning, Investment Planning,
Tax Planning, Retirement Savings & Income Planning, Risk Management & Insurance Planning
and Legacy Planning. If a conflict of interest exists between the interests of FFD and the interests
of the Client, the Client is under no obligation to act upon FFD’s recommendation. If the Client
elects to act on any of the recommendations, the Client is under no obligation to effect the
transaction through FFD. This service will be provided at no additional cost to the Client.
ERISA PLAN SERVICES
FFD provides service to qualified retirement plans including 401(k) plans, 403(b) plans,
pension and profit-sharing plans, cash balance plans, and deferred compensation plans. FFD
may act as 3(38) advisor:
ERISA 3(38) Investment Manager. FFD can also act as an ERISA 3(38) Investment Manager
in which it has discretionary management and control of a given retirement plan’s assets.
FFD would then become solely responsible and liable for the selection, monitoring and
replacement of the plan’s investment options.
1. Fiduciary Services are:
• FFD has discretionary authority and will make the final decision regarding the initial
selection, retention, removal and addition of investment options in accordance with the
Plan’s investment policies and objectives.
• Assist the Client with the selection of a broad range of investment options consistent with
ERISA Section 404(c) and the regulations thereunder.
• Assist the Client in the development of an investment policy statement (“IPS”). The IPS
establishes the investment policies and objectives for the Plan.
• Provide discretionary investment advice to the Plan Sponsor with respect to the selection
of a qualified default investment alternative for participants who are automatically
enrolled in the Plan or who have otherwise failed to make investment elections. The
Client retains the sole responsibility to provide all notices to the Plan participants
required under ERISA Section 404(c) (5).
2. Non-fiduciary Services are:
• Assist in the education of Plan participants about general investment information and the
investment alternatives available to them under the Plan. Client understands the FFD’s
assistance in education of the Plan participants shall be consistent with and within the
scope of the Department of Labor’s definition of investment education (Department of
Labor Interpretive Bulletin 96-1). As such, the FFD is not providing fiduciary advice as
defined by ERISA to the Plan participants.
FFD will not provide investment advice
concerning the prudence of any investment option or combination of investment options
for a particular participant or beneficiary under the Plan.
• Assist in the group enrollment meetings designed to increase retirement plan
participation among the employees and investment and financial understanding by the
employees.
FFD may provide these services or, alternatively, may arrange for the Plan’s other providers
to offer these services, as agreed upon between FFD and Client.
3. FFD has no responsibility to provide services related to the following types of assets
(“Excluded Assets”):
• Employer securities;
• Real estate (except for real estate funds or publicly traded REITs);
• Stock brokerage accounts or mutual fund windows;
• Participant loans;
• Non-publicly traded partnership interests;
• Other non-publicly traded securities or property (other than collective trusts and similar
vehicles); or
• Other hard-to-value or illiquid securities or property.
Excluded Assets will not be included in calculation of Fees paid to FFD on the ERISA
Agreement. Specific services will be outlined in detail to each plan in the 408(b)2 disclosure.
As an investment adviser registered under the Securities Exchange Commission and other
applicable federal and state securities laws, the Adviser has a fiduciary duty, as an
investment adviser, to act in the best interest of the Client. While the Adviser may have
specific responsibilities under ERISA to disclose its ERISA fiduciary services separately from
its non-ERISA fiduciary services, this does not affect the Adviser’s investment adviser
fiduciary duty to the Client.
FINANCIAL PLANNING AND CONSULTING
Financial Plan Services
If financial planning services are applicable, a thorough review of all applicable topics
including but not limited to the following:
Service Description
Financial Goal
Development
This helps a client identify and prioritize their financial goals with
their spouse or significant other (if applicable).
Net Worth Analysis
This helps a client understand the current value of their assets and
the details of their debt including strategies to pay off that debt.
Cash Flow Analysis
This helps a client understand their income and expenses both while
they are working and retired. This also helps a client balance the
need for saving for the future with spending in the present.
Education Planning
This helps a client develop strategies to pay for their children's
educational expenses.
Investment Planning This helps a client develop an appropriate investment strategy for
them to reach their financial goals.
Tax Planning
This helps a client identify strategies related to their investments to
reduce their income taxes both while they are working and during
retirement.
Retirement Savings &
Income Planning
This helps a client understand how much to save for retirement and
appropriate vehicles in which to save. This also helps a client
understand appropriate withdrawal strategies when they retire.
Risk Management &
Insurance Planning
This helps a client understand how to minimize their risks and when
to obtain insurance in which to minimize those risks.
Legacy Planning
This helps a client identify strategies to ensure that their estate is
distributed according to their wishes.
Clients may expect the following when engaging in financial planning and consulting
services:
• Initial financial planning meeting lasting up to three hours or more to help identify
and prioritize financial goals and establish a comprehensive financial plan.
• A written Action Plan which lists financial goals in order of priority along with
current status toward reaching goals. Also included will be a list of
recommendations provided to help clients to reach their goals.
• Final 30-60 minute meeting within three months of initial meeting.
• Clients may call or email with questions regarding their financial plan within 90 days
of the financial planning meeting.
Financial plans will be completed and delivered inside of ninety (90) days contingent upon
timely delivery of all required documentation.
If a conflict of interest exists between the interests of FFD and the interests of the Client, the
Client is under no obligation to act upon FFD’s recommendation. If the Client elects to act on
any of the recommendations, the Client is under no obligation to effect the transaction
through FFD.
Ongoing Financial Planning Services
After a client has completed a stand-alone financial plan, they may choose to hire FFD for
ongoing financial planning services. Clients may expect the following when engaging in
ongoing financial planning and consulting services:
• Two financial planning meetings lasting up to one hour each to review the financial
planning strategies and the implementation of those strategies which have been
recommended to help the client reach their financial planning goals.
• A written Action Plan which lists financial goals in order of priority along with
current status toward reaching goals. Also included will be a list of updated
recommendations provided to help clients to reach their goals.
• Clients may call or email with questions regarding their financial plan throughout
the year.
Ongoing services will continue from year to year unless cancelled by either party.
If a conflict of interest exists between the interests of FFD and the interests of the Client, the
Client is under no obligation to act upon FFD’s recommendation. If the Client elects to act on
any of the recommendations, the Client is under no obligation to effect the transaction
through FFD.
SEMINARS AND WORKSHOPS
FFD holds seminars and workshops to educate the public on different types of investments
and the different services they offer. The seminars are educational in nature and no specific
investment or tax advice is given.
Client Tailored Services and Client Imposed Restrictions
The goals and objectives for each Client are documented in our Client files. Investment
strategies are created that reflect the stated goals and objectives. Clients may impose
restrictions on investing in certain securities or types of securities.
Agreements may not be assigned without written Client consent.
Wrap Fee Programs
FFD does not sponsor any wrap fee programs.
Client Assets under Management
FFD has the following assets under management:
Discretionary Amounts: Non-discretionary Amounts: Date Calculated:
$110,800,000 $0 October 25, 2023