Commencement Financial Planning provides financial planning and portfolio management for individuals and small businesses. Financial planning was provided to 11–25 clients last fiscal year.
Commencement Financial Planning reports 46 clients. They include 38 high-net-worth individuals and 8 individual clients. Of its assets, 0.0% ($0 across 0 accounts) are managed with discretion; $122M across 206 accounts are not.
| Client type | Clients | Assets |
|---|---|---|
| Individuals (other than HNW) | 17% | 3% |
| High-net-worth individuals | 83% | 97% |
Client breakdown and activity details
| Client type | Clients | Regulatory AUM | AUM share | Avg. per client |
|---|---|---|---|---|
| Individuals (other than HNW) | 8 | $3.3M | 2.7% | $413K |
| High-net-worth individuals | 38 | $118M | 97.3% | $3.12M |
| Total | 46 | $122M | 100% | $2.65M |
- Clients
- 8
- Regulatory AUM
- $3.3M
- AUM share
- 2.7%
- Avg. per client
- $413K
- Clients
- 38
- Regulatory AUM
- $118M
- AUM share
- 97.3%
- Avg. per client
- $3.12M
Total
- Clients
- 46
- Regulatory AUM
- $122M
- AUM share
- 100%
- Avg. per client
- $2.65M
- Clients outside the U.S.
- 0%
- Clients advised without assets under management last fiscal year
- 0
- Private funds advised
- 0
- Financial planning clients last fiscal year
- 11–25
Commencement Financial Planning charges up to 0.80% a year for its Asset-Based Fees. The fee is billed in arrears and requires an account of at least $1,000,000. The brochure also prices one other service, listed under fee details.
Fee details and sources
Other fees
- Hourly project-based financial planning
- Hourly project-based financial planning is billed at $400 per hour, paid at the end of each meeting.
Troy Sapp owns 75% or more of Commencement Financial Planning. It has 1 employee.
Leadership
- Troy SappCCO, CEO, COO, Clo
Investment adviser representatives
1 representatives listed in the SEC register as of 9 October 2026.
Staff
- 1 employee
- 1 in advisory functions
- 1 state-registered rep
- Owns 75% or more of Commencement Financial Planning LLC
Troy Sapp
Control person · since April 2010
Besides its headquarters, Commencement Financial Planning has 0 offices, with 1 listed address with no US state reported.
Contact and registration details
- Legal name
- Commencement Financial Planning LLC
- Headquarters
- Not reported
- Website
- commencefp.com
- Phone
- 253-820-6432
- SEC file
- 801-135751
- Structure
- Washington LLC
- Fiscal year end
- December
Commencement Financial Planning’s named custodian for separately managed accounts is Charles Schwab ($122M). Commencement Financial Planning does not have custody of client assets.
- Charles SchwabCharles Schwab & Co., Inc. · San Francisco, CA · $122M100%
At year end, Commencement Financial Planning’s separately managed accounts were mostly in funds (96%).
What the accounts hold
- Stocks3%
- Funds96%
- Cash1%
How many clients does Commencement Financial Planning have?
Commencement Financial Planning has 46 clients and manages $122 million for them, as of March 2026. They include 38 high-net-worth individuals and 8 individual clients.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 23 March 2026
What services does Commencement Financial Planning offer?
Commencement Financial Planning provides financial planning and portfolio management for individuals and small businesses.
Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file
How much does Commencement Financial Planning charge?
Commencement Financial Planning charges up to 0.80% a year for its Asset-Based Fees. The fee is billed in arrears and requires an account of at least $1,000,000.
Which custodians does Commencement Financial Planning use?
Commencement Financial Planning’s separately managed account assets are held at Charles Schwab & Co., Inc. (San Francisco, CA), with $122M. Only custodians holding at least a tenth of those assets are named.
Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 23 March 2026
How many financial advisors does Commencement Financial Planning have?
Commencement Financial Planning has 1 investment adviser representative registered with state securities authorities, out of 1 employees, and 1 perform investment advisory functions. None are registered representatives of a broker-dealer or licensed insurance agents.
Source: Form ADV Part 1A, Items 5.A and 5.B, from the SEC's 2 October 2026 data file
What does Commencement Financial Planning invest in?
At the end of its last fiscal year, Commencement Financial Planning’s separately managed accounts held 96% registered funds (mutual funds, ETFs, BDCs), 3% exchange-traded equities and 1% cash and equivalents.
Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file
Does Commencement Financial Planning have a minimum investment?
Yes, Commencement Financial Planning’s minimum account size for its Asset-Based Fees is $1M.
Who owns Commencement Financial Planning?
Commencement Financial Planning’s direct owner is Troy Sapp (75% or more).
Source: Form ADV Part 1A, Schedules A and B, filed 23 March 2026
How does Commencement Financial Planning get paid?
Commencement Financial Planning is paid through a percentage of assets under management and hourly charges. Its Form ADV lists no commissions or performance-based fees among how it is paid.
Source: Form ADV Part 1A, Item 5.E, from the SEC's 2 October 2026 data file
How do I contact Commencement Financial Planning?
Its phone number is 253-820-6432. Its website is commencefp.com.