CFPC Firm Brochure

7/28/2019 CFPC Firm Brochure

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2013 Callahan Financial Planning Company, All Rights Reserved.

Firm Brochure(Part 2A of Form ADV)

This brochure provides information about the qualifications and business practices

of Callahan Financial Planning Company (CFPC). If you have any questions about

the contents of this brochure, please contact us at (402) 341-2000 or

[email protected].

The information in this brochure has not been approved or verified by the United

States Securities and Exchange Commission (SEC) or by any state securities

authority.

Additional information about Callahan Financial Planning is also available on the

Securities and Exchange Commission website atwww.adviserinfo.sec.gov.

Brochure as of January 1, 2013

Callahan Financial Planning Company

3157 Farnam Street Suite 7112

Omaha, NE 68131

402.341.2000 T

402.881.8324 F

cl [email protected] lahanfp.com

Item 1 Cover Page
mailto:[email protected]:[email protected]://www.adviserinfo.sec.gov/http://www.adviserinfo.sec.gov/http://www.adviserinfo.sec.gov/mailto:[email protected]:[email protected]://www.callahanfp.com/http://www.callahanfp.com/http://www.callahanfp.com/mailto:[email protected]://www.adviserinfo.sec.gov/mailto:[email protected]


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January 1, 2013 Page 2 o


Item 2 Material Changes

The information below highlights the changes to the ADV since the previous annual update.

1. Update to the amount of Assets under Management (AUM)

The amount of assets under management at Callahan Financial Planning Company has increased since the previous update. Th

updated amount can be found on page 5.

2. Change in Hourly and Asset Management Pricing and Range of Fees Charged

CFPC modified some of its annual rates for ongoing asset management, its hourly rate for financial planning, and provided a ran

of all fees charged to all investment management clients. The fee schedule details begin on page 7.

3. Further Explained Financial Planning Process in Steps

Additional clarification has been added to explain CFPCs process for new clients receiving financial planning and investment

management services. These details begin on page 11.


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Item 3 Table of Contents

Item 1 Cover Page .......................................................................................................................................................................................

Item 2 Material Changes..............................................................................................................................................................................

Item 3 Table of Contents ..............................................................................................................................................................................Item 4 Advisory Business .............................................................................................................................................................................

Item 5 Fees and Compensation....................................................................................................................................................................

Item 6 Performance-Based Fees and Side-by-Side Management ................................................................................................................

Item 7 Types of Clients .................................................................................................................................................................................

Item 8 Methods of Analysis, Investment Strategies and Risk of Loss ..........................................................................................................

Item 9 Disciplinary Information.....................................................................................................................................................................

Item 10 Other Financial Industry Activities and Affiliations ...........................................................................................................................

Item 11 Code of Ethics, Participation or Interest in Client Transactions and Personal Trading .......................................................................

Item 12 Brokerage Practices ........................................................................................................................................................................

Item 13 Review of Accounts ........................................................................................................................................................................

Item 14 Client Referrals and Other Compensation .......................................................................................................................................Item 15 Custody ..........................................................................................................................................................................................

Item 16 Investment Discretion .....................................................................................................................................................................

Item 17 Voting Client Securities ...................................................................................................................................................................

Item 18 Financial Information .......................................................................................................................................................................

Item 19 Requirements for State Registered Advisers ..................................................................................................................................

Advisor Brochure Supplement .........................................................................................................................................................................


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Item 4 Advisory Business

Callahan Financial Planning Company (hereinafter CFPC or the firm) is a registered investment adviser with the State of

Nebraska Department of Banking and Finance, Bureau of Securities.

William A. Callahan is the firms President and Chief Investment Officer, and currently owns 100% of the current voting common

stock. If all current independent preferred stockholders (non-voting) were to convert their shares to common stock (voting), Mr

Callahan would have a voting stake of approximately 86.1%.

CFPC offers financial advisory services that include financial planning and investment management for individuals and institutio

Financial planning services are comprehensive and unique to each client. Personal financial planning services may include, but

not limited to the following areas of planning:

Retirement Planning: Including planning around individual retirement accounts, company retirement accounts,company stock options and Social Security.

Wealth Management: This area of service includes investment management and research, risk management andhedging, tax planning and monitoring (but not annual preparation), estate and legacy planning, charitable giving an

large expense planning.

Foundation Planning: This commonly consists of creating a budget, reducing debt and creating a basic savings andinvestment strategy.

Small business financial planning services may include, but are not limited to:

Financial analysis related to asset management, cash flow projections, business funding and start-up planning, stoofferings and related planning.

Benefit planning and management related to risk management, employee education, equity and other benefits.Clients may impose restrictions on investing in certain securities. In these situations, CFPC will honor the clients request for

restriction of ownership as long as we believe it is a reasonable request and is in the clients best interest.

As of December 31, 2012 CFPC had a total of $27,168,003in assets under management. Of the total, $26,766,141 was on a

discretionary basis, and $401,862 was non-discretionary.

Clients are under no obligation to act upon CFPCs recommendations.


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Item 5 Fees and Compensation

CFPCs only forms of compensation come from one or both of the following:

Hourly Rate / Fixed Fee Percentage of Assets under Management

CFPC does not receive income from any form of commissions, sales charges, revenue sharing agreement or any other agreeme

with another financial institution. We are not compensated conditionally for the performance or outcome of a specific transacti

or by recommending a specific financial product or institution.

Hourly Rate or Fixed Fee

We prepare a comprehensive financial plan for both those with specific concerns they would like addressed today, and those w

desire to create a precise plan for their long-term financial safety. A financial plan addresses several aspects of your financial

safety, including general retirement planning and feasibility, potential risks, a proper budget, estate and investment planning an

more.

The hourly rate for our service is $210, with most initial consultations billed at a flat rate of $299. This may be waived for clien

based on the complexity of their inquiry. If a client and their CFPC financial planner agree further work would be appropriate, th

$299 is applied as a credit towards their financial plan cost.

Completing a personal financial plan generally takes 7-15 hours and consists of two or more meetings with a Financial Planner,

the cost of these is generally included in this estimated range. Before beginning, each client receives a specific estimate with a

guaranteed maximum cost based on the initial requested service.

We will generally ask for a deposit of the lower amount of hours estimated to a client prior to beginning. The remainder of th

fees will be due upon completion of work and presentation to the client. Fees that are charged in advance may be refunded ba

on the prorated amount of work completed at the point of termination. Clients may terminate their contracts with written notic

without penalty at any time. Client fees are set in the signed client agreement, and may only be changed with a written

acknowledgement provided in advance that details the applicable changes or by signing a new agreement.

CFPC may also perform contract work on an as-needed basis for certain projects. This may be billed at an hourly rate or fixed fe

different than what is shown above, and will be quoted in advance of performing the service.


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Ongoing Management

Ongoing planning and investment management is the portion of any financial plan that requires continued examination and

adjustment. This service includes implementing investment recommendations, ongoing research, updates, guidance, trading a

rebalancing necessary to manage your investment portfolio and financial plan on a continuous basis.

It includes regular review meetings with a financial planner, full access to our entire team to answer your questions and periodtesting of your financial plans safety based on any changes that occur in your life.

Amount Managed Our Standard RatesOur Applicable Range

of Annual Rates

$0 - $100,000 1.45% 1.24% - 1.60%

$100,001 - $250,000 1.24% 1.10% - 1.45%

$250,001 - $1,000,000 1.00% 0.90% - 1.25%

$1,000,001 - $2,500,000 0.90% 0.80% - 1.00%$2,500,001 - $10,000,000 0.75% 0.60% - 0.75%

$10,000,001 + 0.55% 0.50% - 0.65%

Fee schedules are negotiable on a case-by-case basis in light of the complexity of Client's financial situation and the time requi

to manage the account(s). Client may group multiple accounts of immediate family members together for the potential benefit

lower rate. CFPC may also offer negotiated fee discounts to employees or members of certain employers or organizations who

internally market the advisory services of CFPC to their employees or members. Fees are billed monthly at a rate of 1/12 of Clie

applicable annual rate in their investment advisory agreement. At Clients election, fees are either deducted automatically from

the account(s) chosen by Client, or invoiced to Client for payment.

Fees are paid monthly in arrears using the previous months ending balance. Clients may terminate their contracts in accordanc

with Section XII of their agreement. Upon termination, Client will be billed a pro-rated portion of any advisory fees earned, but

yet paid, prior to the Termination Date as provided in Section XII of their agreement. There is an aggregate minimum for new

clients of $100,000.00, which may be waived by CFPC without charge, based on the needs of Client and the complexity of Clie

financial situation.

Occasionally, outside financial custodians and institutions may assess a commission that would be solely paid to them. We

analyze these costs and only make recommendations that would be consistent with a prudent expected outcome for our clientWe are conscious of the negative impact such costs can have on our clients wealth accumulation if they are not contemplated

when conducting transactions.

As we seek to reduce our clients cost of doing business with various financial institutions, we will often make specific

recommendations as to where the funds are placed. This is done based on a variety of factors, and is further described in Item

As we do not receive any financial incentives for this placement, our recommendations are based solely on the benefits expect

for our clients.


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Item 6 Performance-Based Fees and Side-by-Side Management

CFPC does not assess or earn performance-based fees.

Item 7 Types of Clients

CFPC generally provides investment advice to individuals, trusts and estates. Financial planning and investment advisory service

are also made available to corporations, charitable organizations, public institutions and endowments.

There are no minimum requirements for financial planning services. However, to engage in investment advisory services, there

a minimum family of accounts value of $100,000.00. The minimum may be waived based on the complexities of the situation

and/or the needs of the client.


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Item 8 Methods of Analysis, Investment Strategies and Risk of Loss

Implementation of a Financial Plan and Investment Policy

Every client begins with us through our financial planning process. We work with each of our clients to fully understand their

current financial situation and what it is that theyre precisely looking to accomplish. Together, we determine a client s priorities

whats reasonable, and develop a plan that works towards identifying and implementing their financial goals.

A clients financial plan is delivered in a 2 or 3 part process, with the two primary phases broken down as:

Part One:Current Situation and Client Goals

- Goal outline- Current income and expense summary / analysis- Current asset and liability summary / analysis- Investment portfolio summary / analysis, including research for portfolio of investment costs, style, region and sector

exposure, along with interest rate and credit quality risk determinations- Education cost summary / analysis (when applicable)- Insurance coverage summary / analysis- Retirement scenario analysis, including longevity, living expenses and cash flow expectations with pensions and Socia

Security

Part Two:Results of Our Analysis and Recommendations

- Summary of our results- Detail of client risk capacity and tolerance- Broad investment allocation recommendations- Requirements for retirement, including age, income, expenses and use of current assets- Feasibility of accomplishing all client goals, including either a means for accomplishing them all, or a detail of what can

and cannot be accomplished

- Proposed changes to cash flow- Debt repayment schedule (when applicable)- Primary risk exposure summary and recommendations

Part Three: Implementation(clients typically have most, but not necessarily all of those shown below)

- Agreement and acceptance of risk levels and desired hedging- Selection of underlying investment securities to be initially implemented- Agreement as to the role and review schedule with each client and their financial planner- Opening new accounts- Transferring securities / funds between accounts- Reallocation of investments- Refinancing of debt- Applying for new insurance policies- Any other steps as recommended by the financial planner


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Our Investment Research Methodology

1. Valuing the Financial MarketsWe conduct ongoing research to determine our view of the financial markets various levels of intrinsic value relative to theirmarket price today. Based on this relative valuation, we make broad decisions as to how much exposure we wish to have

between equities, fixed income and alternative investments.

2. Identify Expected Risk and ReturnBased on the research of our financial market valuations, we assign each underlying asset class an expected return value. We

then measure the risk of each asset class by the long-term standard deviation for that respective benchmark.

3. Develop Investment Targets within Financial PlanUtilizing the Efficient Frontier of Modern Portfolio Theory (MPT), we begin conducting scenario analysis where we test the

deployment of various asset classes together as one portfolio. This analysis is done alongside statistical Monte Carlo simulatioof returns and distribution frequencies, and utilizes the supporting data of expected return (from our intrinsic value), risk (stand

deviation) and historical correlation (by benchmark).

Develop Portfolio

Asset Class Targets Underlying Securities

Develop Investment Targets within Financial Plan

Required Rate of Return Tolerable Rate of Risk

Identify Expected Risk and Return

Risk Return

Valuing the Financial Markets

Equities Fixed Income


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4. Develop PortfolioOnce we have arrived at the target balance of risk and reward that is both acceptable in terms of timeline and necessity of ret

we can then begin assigning the underlying securities that support the financial plans allocation. This is an ongoing process tha

works in a continuous cycle of design and testing.

We implement our clients investment strategies by conducting ongoing research for securities that most closely match our ass

class needs. As the most common deployment consists of mutual funds and ETFs, it must be tested on a scheduled basis for

valuation, asset class drift, allocation adjustments and changes in the financial plans timeline.

Valuing the financial markets, identifying risk and return and developing investment targets is all done as a part of the initial

financial plan preparation. Portfolio recommendations and development are an ongoing event, not available as a one-time servi

given the ongoing nature of the service provided.


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Risks

All investing involves risk. The following list is intended to provide several examples of common risks an investor should alway

aware of:

Economic Risk An investment risk associated with the overall health of the economy. Inflation Risk The risk of loss of future purchasing power due to rising prices of goods and services. Interest Rate Risk The possibility that the value of your investment decreases due to an increase in interest ra Credit Risk The possibility that a debt issuer may not be able to repay you for your investment principal or inter

owed to you.

Reinvestment Risk The risk that an investor faces when an investment matures and the new interest ratesavailable are less than they were previously.

Currency Exchange Risk A form of risk that comes from the change in price of one countrys currency againstanother.

Management Risk Also referred to as company risk, this is the risk of owning one or only a few investments inspecific companies. The opposite of diversification, this risk comes from management missteps, fraud and

competition whether real or perceived.

Leverage Risk This risk comes from using debt, or margin, to fund investments. Because the debt typically hasbe repaid regardless of the performance of your investment, leverage multiples your losses or gains to the extent y

use it.

Liquidity Risk The risk that your investment cannot be converted into cash when you would like. Market Risk The risk to a specific investment or portfolio that the value may decline due to general market

conditions not specifically related to a particular company. These may include real or perceived adverse economic

conditions now or in the future, changes in the outlook for earnings (profits), changes in interest rates or currency

exchange rates.

Our investment process is designed with an awareness of the risks listed above and others. It is impossible to eliminate all of trisks of investing, and is best viewed as a balancing act that is different for each investor. There can be no assurance of succes

investing, and attempts at addressing risk may also be unsuccessful.

CFPC will work with clients during their initial financial planning process and regularly afterwards in follow-up to help clients

understand the risks they may face and how the portfolio may be managed with these in mind.


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Item 9 Disciplinary Information

Neither CFPC nor any of its employees have any disciplinary history to report.

Item 10 Other Financial Industry Activities and Affiliations

Neither CFPC nor any of its employees have other, external financial industry activities or affiliations to report.

Item 11 Code of Ethics, Participation or Interest in Client Transactions and Personal Trading

CFPC has a written Code of Ethics that covers the following areas:

Prohibited Purchases and Sales Insider Trading Personal Securities Transactions Exempted Transactions Prohibited Activities Conflicts of Interest Gifts and Entertainment Confidentiality Service on a Board of Directors Compliance Procedures Compliance with Laws and Regulations Procedures and Reporting Certification of Compliance Reporting Violations Compliance Officer Duties Training and Education Recordkeeping Annual Review Sanctions

CFPC has a copy of the written Code of Ethics that is available to any client or prospective client upon request.CFPC has clients who also own Preferred Stock of CFPC with the option of conversion into voting Common Stock. As a registe

investment advisor providing portfolio guidance and financial planning, our services to these clients may include guidance on th

investment. When advising shareholders on their portfolios outside this investment, they will pay for any services rendered in t

same manor non-shareholder clients do.


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From time to time, representatives of CFPC may buy or sell securities for themselves that they also recommend to clients. CFP

will always document any transactions that could be construed as conflicts of interest and will transact client business before

their own when similar securities are being bought or sold. CFPC will do everything possible to mitigate these conflicts by

disclosing to the client any possible conflict interest. CFPC will always act in a fiduciary manner and in the clients best interest

Item 12 Brokerage Practices

CFPC considers the following factors when recommending broker-dealers for client transactions:

Client Expenses and Cost Minimization Broker Dealer Client Service Standards and Quality Overall Ability to Meet Clients Needs Transaction Execution Performance

CFPC determines the reasonableness of a custodians compensation by examining transaction costs, commission rates, potentpenalties and overall costs of doing business.

CFPC does not utilize research or other products or services, other than execution, from a broker-dealer or a third party in

connection with client securities transactions. CFPC does not receive soft dollar benefits and any such benefits available wou

not be a factor in choosing a broker-dealer for clients. CFPC has specific compliance procedures to ensure there are no soft do

arrangements made.

Reviews of the firms soft dollar arrangement are to be conducted by the Chief Compliance Officer on an annual basis. Interim

reviews may be conducted in response to changes in the firms soft dollar arrangements or other updates as needed.

Item 13

Review of Accounts

Each client account is reviewed quarterly, semi-annually or annually (as determined by each clients Financial Plan) by an

Investment Adviser employed by CFPC. William A. Callahan is the firms Chief Investment Officer and reviews clients accounts

with regards to their investment policies and risk tolerance levels.

Reviews may be triggered by material market, economic or political events, or by changes in clients financial situations (such a

retirement, termination of employment, physical move, or inheritance). In addition, each portfolio is reviewed at least annually

assess its conformity with the respective investment objectives of the client. CFPC is responsible for the completion of financi

plans, asset allocation recommendations, implementation of those recommendations and any ongoing account monitoring andmaintenance.

Clients receive reports from CFPC on a quarterly basis, and will also receive statements from their independent custodian(s) on

monthly or quarterly basis. Clients should carefully review both. Clients are encouraged to compare their custodian statement

with their CFPC reports so that they may promptly report any potential accounting inaccuracies.


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Item 14 Client Referrals and Other Compensation

CFPC does not receive compensation from any client referral. CFPC does compensate some industry service providers at a flat

rate, and payment for services is not contingent upon whether or not someone referred to CFPC becomes a client. Services

utilized by CFPC today include WiserAdvisor.com and Paladin Registry. Investors use these websites to learn about financialadvisors, to learn how to avoid bad financial advice, how to select and search for quality advisors and to view documentation o

advisors credentials, ethics, and business practices. The websites match the professional with investors who use its search a

documentation services

Item 15 Custody

A custodian is the institution that holds for safekeeping a clients investments and/or deposits, while allowing withdrawals,

transfers, purchases and sales to be facilitated. Custodial services are provided by a bank, brokerage, trust or insurance compa

that is independent of CFPC. CFPC does not maintain custody of client funds. Custodians are chosen based on a combination otheir transaction fees, safety, customer service quality, best execution, and suitability to individual client needs. Clients may be

eligible for various protection levels for their financial assets, including those offered by the FDIC or SIPC programs, or private

insurance policies. Clients and prospective clients should discuss with their financial planner the insurance protection applicabl

any, for each of their investment accounts.

When a client is looking for a low cost custodian, CFPC generally recommends TD Ameritrade Institutional or Scottrade, but ma

also work directly with certain other custodians as requested by the client that are able to work directly with CFPC.

Clients of CFPC are occasionally limited in their choice of custodian. This typically, but is not limited to, cases where we are

managing an investment portfolio within an employer sponsored plan account for an individual employee (our client). In cases

such as this, CFPC was not involved in the selection of the custodian or the list of available securities in the plan. CFPC will, act

as a fiduciary only for their clients, make recommendations on investments within these restrictions. The recommendations in

these cases are not likely the same as if a client were able to openly choose investments in a brokerage account.

Item 16 Investment Discretion

Investment discretion is the professional capacity in which CFPC, as a registered investment adviser for a client, would be gran

the authority to make day-to-day decisions on a clients behalf regarding their investment accounts. CFPC may request

discretionary authority from clients in order to select securities and execute transactions without the need for approval prior toeach transaction. Risk tolerance levels are documented in a clients Financial Plan (or later updates agreed by the client). Clien

may impose restrictions on investing in certain securities. In these situations, CFPCwill honor the clients request for restriction

ownership as long as CFPC believes it is a reasonable request and in the best interest of the client.

Clients of CFPC may choose a discretionary or non-discretionary management relationship. CFPC obtains discretion by having a

client sign, initial or acknowledge the limited power that is contained in the chosen custodians agreement(s) and the Investme

Advisory Agreement with CFPC.


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Item 17 Voting Client Securities

CFPC will not generally vote on client proxy events without specific notification of our intent to do so, or an additional agreeme

with the client is in place to do so.

If voting, CFPC will identify any conflicts that exist between the interests of the advisor and its clients. This examination will

include a review of the relationship of the advisor with the issuer of each security and any of the issuers affiliates to determine

the user is a client of the advisor or has some other relationship with the Advisor or a client of the advisor.

If a material conflict exists, CFPC will determine whether voting in accordance with the voting guidelines and indicators describ

above is in the best interests of the client. CFPC will also determine whether it is appropriate to disclose the conflict to the

affected clients and will give the clients the opportunity to vote their proxies themselves.

Clients may contact CFPC to obtain a copy of CFPCs proxy voting policies and procedures.

Item 18

Financial Information

Balance Sheet

CFPC does not require nor solicit prepayment of more than $500 in fees per client for six months or more in advance and there

does not have any additional financial disclosures to make.

Financial Conditions Reasonably Likely to Impair Ability to Meet Contractual Commitments to Clients

CFPC, nor its management, have any financial conditions that are likely to impair our ability to meet contractual commitments t

clients.

Bankruptcy Petitions in Previous Ten Years

CFPC, nor its management, have been the subject of any bankruptcy petitions at any point in time.


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Item 19 Requirements for State Registered Advisers

Principal Executive Officers and Management Persons; Their Formal Education and Business Background

The management person and executive officer overseeing the firm is William A. Callahan. William A. Callahans education and

business background can be found on the Supplemental ADV Part 2B form.

Other Businesses in Which This Advisory Firm or its Personnel are Engaged and Time Spent

Neither William A. Callahan nor its employees have other outside business activities.

How Performance Based Fees are Calculated and Degree of Risk to Clients

CFPC does not assess or earn performance-based fees.

Material Disciplinary Disclosures for Management Persons of this Firm

No management person at CFPC or its employees have been involved in an arbitration claim or been found liable in a civil, self-regulatory organization or administrative proceeding that is material to the clients evaluation of the firm or its management.

Material Relationships That Management Persons Have With Issuers of Securities

Neither CFPC, nor its management persons and employees, have any relationship or arrangement with issuers of securities.


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Advisor Brochure Supplement(Part 2B of Form ADV)

This brochure supplement provides information about:William A. Callahan, CFP

Reuben J. Brauer

This supplements the brochure for Callahan Financial Planning Company (CFPC). You

should have received a copy of that brochure. Please contact us if you did not

receive both Part 2A and 2B of the brochure or if you have any questions about the

contents of this supplement.

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.

Additional information about Callahan Financial Planning is also available on the

Securities and Exchange Commission website atwww.adviserinfo.sec.gov.

Brochure as of January 1, 2013

Callahan Financial Planning Company

3157 Farnam Street Suite 7112

Omaha, NE 68131

402.341.2000 T

402.881.8324 Fcl [email protected]

www.cal lahanfp.com
http://www.adviserinfo.sec.gov/http://www.adviserinfo.sec.gov/http://www.adviserinfo.sec.gov/mailto:[email protected]:[email protected]://www.callahanfp.com/http://www.callahanfp.com/http://www.callahanfp.com/mailto:[email protected]://www.adviserinfo.sec.gov/


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Name: William A. Callahan, CFP

CERTIFIED FINANCIAL PLANNER Professional

Title: President & Chief Investment Officer

Born: 1983

Educational Background

University of Nebraska (Omaha, NE) Course of Study: Bachelor of Science in Business Administration, with a specialization in Business Finance

Banking and Financial Markets, Investment Science and Portfolio Management

New York University (New York, NY) Course of Study: Certified Financial Planner Professional Program

Business / Employment Experience (for previous five years)

Callahan Financial Planning Company President, Chief Investment Officer (2010 Present) U.S. Bancorp Investments, Inc. Financial Advisor (2007 2010) Treynor State Bank Financial Advisor (2005 2007)

Disclosure Statements

William A. Callahan has never been in an arbitration claim alleging damages. William A. Callahan has never been the subject of a civil, self-regulatory organization, or administrative proceeding William A. Callahan has never been the subject of a bankruptcy petition. William A. Callahan does not have any disciplinary history to disclose.

William A. Callahan does not have any other (outside) business activities to disclose. William A. Callahan does not have any additional forms of compensation to disclose.

Supervisory policies are written and maintained by staff members of Callahan Financial Planning Company. William A. Callahan

responsible for ensuring CFPC policies are in compliance with investment advisory laws and receives outside counsel as neces

to do so. Providers of outside counsel include Stinson Morrison Hecker LLP, and Cline Williams Wright Johnson & Oldfather, L.L.

Services rendered by outside professionals include review of internal controls and procedures, code of ethics policies, continuit

planning and regulatory filings.


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Name: Reuben J. Brauer

Title: Financial Planning Associate

Born: 1987

Educational Background

University of Nebraska (Omaha, NE) Course of study: Bachelor of Science in Business Administration with a specialization in Business Finance

Enrolled at College for Financial Planning (Denver, CO) Course of Study: Certified Financial Planner Professional Program

Business / Employment Experience (for previous five years)

Callahan Financial Planning Company Financial Planning Associate (2010 Present) Footprints Asset Management & Research Financial Analyst Intern (2009 & 2010) Bank of the West Customer Service Representative (2006 - 2010) 3M Company Quality Engineer Intern (2006 & 2008)

Disclosure Statements

Reuben J. Brauer has never been in an arbitration claim alleging damages. Reuben J. Brauer has never been the subject of a civil, self-regulatory organization, or administrative proceeding. Reuben J. Brauer has never been the subject of a bankruptcy petition. Reuben J. Brauer does not have any disciplinary history to disclose. Reuben J. Brauer does not have any other (outside) business activities to disclose. Reuben J. Brauer does not have any additional forms of compensation to disclose.

The advisory activities of Reuben J. Brauer are supervised by the President of CFPC. The supervisor provides ongoing training a

support to Reuben J. Brauer. The supervisor also reviews the associates activities through CFPCs client relationship manageme

system, business submission reviews, email monitoring, and correspondence reviews. The person responsible for supervising t

financial advisors advisory activities, William A. Callahan, President, can be reached at (402) 341-2000.

CFPC Firm Brochure

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