{"url":"https://nivawealth.com/firms/commencement-financial-planning-154056","iapdUrl":"https://adviserinfo.sec.gov/firm/summary/154056","regulatoryAum":121700000,"crd":"154056","adviserRoster":{"asOf":"2026-10-09","items":[{"crd":"5803551","suffix":null,"lastName":"SAPP","firstName":"TROY","middleName":"AARON"}],"total":1,"loadedAt":"2026-10-10T00:20:19.761928+00:00","sourceUrl":"https://reports.adviserinfo.sec.gov/reports/CompilationReports/IA_INDVL_Feed_10_09_2026.xml.zip"},"secFileNumber":"801-135751","legalName":"Commencement Financial Planning LLC","displayName":"Commencement Financial Planning","slug":"commencement-financial-planning-154056","website":"https://commencefp.com/","classification":{"segment":"individuals","segmentLabel":"Wealth management","type":"independent_wealth_manager","typeLabel":"RIA","feeDisclosure":"full"},"founded":null,"organization":"Washington limited liability company","fiscalYearEnd":"December","headquarters":{"street":"","city":"","state":"","stateName":"","country":"","postalCode":null},"tradeNames":[],"registration":{"secApproved":"3 April 2026","noticeFilings":null,"latestNoticeFiling":null},"wealthAumPerClient":2645652.1739130435,"staff":{"employees":1,"advisory":1,"brokerDealerReps":0,"insuranceAgents":0,"promoters":0},"aum":{"regulatory":121700000,"discretionary":0,"discretionaryAccounts":0,"nonDiscretionary":121700000,"nonDiscretionaryAccounts":206,"wrapProgram":null,"nonUsClientsPct":0,"nonAumClients":0},"clientTypes":[{"label":"Individuals (other than HNW)","clients":8,"regulatoryAum":3300000},{"label":"High-net-worth individuals","clients":38,"regulatoryAum":118400000}],"feePrograms":[{"role":"main","program":"Asset-Based Fees","feeBasis":"ceiling","fee_tiers":null,"sourceUrl":"https://files.adviserinfo.sec.gov/IAPD/Content/Common/crd_iapd_Brochure.aspx?BRCHR_VRSN_ID=1013870","versionId":1013870,"ratePeriod":"annual","fee_billing":"arrears","submittedOn":"2026-03-03","documentName":"2026-2-9 FORM ADV PART 2A","fee_rate_low":null,"fee_rate_high":0.8,"fee_negotiable":null,"minimum_account":1000000,"feeMinimumPeriod":null,"fee_minimum_annual":null},{"role":"other","program":"Hourly project-based financial planning","summary":"Hourly project-based financial planning is billed at $400 per hour, paid at the end of each meeting.","sourceUrl":"https://files.adviserinfo.sec.gov/IAPD/Content/Common/crd_iapd_Brochure.aspx?BRCHR_VRSN_ID=1013870","versionId":1013870,"submittedOn":"2026-03-03","documentName":"2026-2-9 FORM ADV PART 2A"}],"brochureCoverage":{"scope":"sec_inventory","status":"reviewed","checkedAt":"2026-10-22T14:09:03.417846+00:00","documents":[{"name":"2026-2-9 FORM ADV PART 2A","status":"read","sourceUrl":"https://files.adviserinfo.sec.gov/IAPD/Content/Common/crd_iapd_Brochure.aspx?BRCHR_VRSN_ID=1013870","versionId":1013870,"submittedOn":"2026-03-03"}]},"custodians":[{"name":"Charles Schwab & Co., Inc.","shortName":"Charles Schwab","location":"San Francisco, CA","smaAssets":121700000}],"custodyNote":"Commencement Financial Planning does not have custody of client assets.","otherCustodians":[],"leadership":[{"name":"Troy Sapp","title":"CCO, CEO, COO, Clo","crd":"5803551"}],"ownership":[{"label":"Troy Sapp","detail":"Cco, ceo, coo, clo in the 75% or more ownership band and a control person, since April 2010."}],"branchOffices":null,"filedOffices":{"otherThanPrincipal":0,"privateResidences":0},"listedOfficeAddresses":1,"foreignOffices":[],"officesByState":[],"advFacts":{"source":{"file":"ia100226.zip","asOf":"2 October 2026"},"telephone":"253-820-6432","stateRegisteredReps":1,"otherAdviserReps":0,"compensation":["A percentage of assets under management","Hourly charges"],"activities":["Financial planning services","Portfolio management for individuals and/or small businesses"],"financialPlanningClients":"11-25","assetMix":[{"label":"Exchange-traded equity securities","percent":3},{"label":"Securities issued by registered investment companies or business development companies","percent":96},{"label":"Cash and cash equivalents","percent":1}],"privateFunds":0},"sources":{"adv1FilingDate":"23 March 2026","adv1Url":"https://reports.adviserinfo.sec.gov/reports/ADV/154056/PDF/154056.pdf","brochureDate":"3 March 2026","brochureUrl":"https://files.adviserinfo.sec.gov/IAPD/Content/Common/crd_iapd_Brochure.aspx?BRCHR_VRSN_ID=1013870","iapdCompiledDate":null,"retrievedDate":"15 October 2026","retrievedOn":"2026-10-15","updatedOn":"2026-10-22","holdingsUpdatedOn":"2026-10-21","adv1Pages":{},"brochurePages":{}},"otherBusiness":[],"faq":[{"question":"How many clients does Commencement Financial Planning have?","answer":"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","sourceRef":{"doc":"adv1","section":"employees"}},{"question":"What services does Commencement Financial Planning offer?","answer":"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","sourceRef":{"doc":"adv1","section":"employees"}},{"question":"How much does Commencement Financial Planning charge?","answer":"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.","source":"2026-2-9 FORM ADV PART 2A, filed 3 March 2026","sourceRef":{"doc":"brochure","section":"fees"}},{"question":"Which custodians does Commencement Financial Planning use?","answer":"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","sourceRef":{"doc":"adv1","section":"custodians"}},{"question":"How many financial advisors does Commencement Financial Planning have?","answer":"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","sourceRef":{"doc":"adv1","section":"employees"}},{"question":"What does Commencement Financial Planning invest in?","answer":"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","sourceRef":{"doc":"adv1","section":"employees"}},{"question":"Does Commencement Financial Planning have a minimum investment?","answer":"Yes, Commencement Financial Planning’s minimum account size for its Asset-Based Fees is $1M.","source":"2026-2-9 FORM ADV PART 2A, filed 3 March 2026","sourceRef":{"doc":"brochure","section":"fees"}},{"question":"Who owns Commencement Financial Planning?","answer":"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","sourceRef":{"doc":"adv1","section":"scheduleA"}},{"question":"How does Commencement Financial Planning get paid?","answer":"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","sourceRef":{"doc":"adv1","section":"employees"}},{"question":"How do I contact Commencement Financial Planning?","answer":"Its phone number is 253-820-6432. Its website is commencefp.com.","source":"Form ADV Part 1A, Item 1.F, filed 23 March 2026","sourceRef":{"doc":"adv1","section":"offices"}}],"holdings":null,"notice":"Compiled from public SEC Form ADV filings on the dates in `sources`. Facts as filed; not a rating, ranking, or recommendation. Niva is not affiliated with this firm. Disciplinary history is deliberately not included here or on the page; the SEC publishes the complete record at the `iapdUrl` above."}