Elser Financial Planning provides financial planning, portfolio management for individuals and small businesses, education planning, estate planning, insurance, and tax planning. Financial planning was provided to 251–500 clients last fiscal year.
Elser Financial Planning reports 584 clients. They include 420 high-net-worth individuals, 158 individual clients, and 6 corporations and other businesses. Of its assets, 53.8% ($1.13B across 1,474 accounts) are managed with discretion; $974M across 169 accounts are not. It advised 18 clients without assets under management last fiscal year.
| Client type | Clients | Assets |
|---|---|---|
| Individuals (other than HNW) | 27% | 3% |
| High-net-worth individuals | 72% | 92% |
| Pension and profit-sharing plans | Fewer than 5 | <1% |
| Charitable organizations | Fewer than 5 | 3% |
| Corporations and other businesses | 1% | 2% |
Client shares use reported counts. Client types without a reported count are excluded from that total.
Client breakdown and activity details
| Client type | Clients | Regulatory AUM | AUM share | Avg. per client |
|---|---|---|---|---|
| Individuals (other than HNW) | 158 | $61.6M | 2.9% | $390K |
| High-net-worth individuals | 420 | $1.95B | 92.3% | $4.63M |
| Pension and profit-sharing plans | Fewer than 5 | $346K | 0.0% | — |
| Charitable organizations | Fewer than 5 | $58.5M | 2.8% | — |
| Corporations and other businesses | 6 | $41.6M | 2.0% | $6.94M |
| Total | 584 | $2.11B | 100% | — |
- Clients
- 158
- Regulatory AUM
- $61.6M
- AUM share
- 2.9%
- Avg. per client
- $390K
- Clients
- 420
- Regulatory AUM
- $1.95B
- AUM share
- 92.3%
- Avg. per client
- $4.63M
- Clients
- Fewer than 5
- Regulatory AUM
- $346K
- AUM share
- 0.0%
- Avg. per client
- —
- Clients
- Fewer than 5
- Regulatory AUM
- $58.5M
- AUM share
- 2.8%
- Avg. per client
- —
- Clients
- 6
- Regulatory AUM
- $41.6M
- AUM share
- 2.0%
- Avg. per client
- $6.94M
Total
- Clients
- 584
- Regulatory AUM
- $2.11B
- AUM share
- 100%
- Avg. per client
- —
- Clients outside the U.S.
- 0%
- Clients advised without assets under management last fiscal year
- 18
- Private funds advised
- 0
- Financial planning clients last fiscal year
- 251–500
Elser Financial Planning charges 0.30%–0.85% a year for its Investment Management Services. Each asset band is charged at its own rate. The fee is billed in arrears and has a $8,500 annual minimum. The brochure also prices one other service, listed under fee details.
| Asset band | Annual rate |
|---|---|
| $0–$2M | 0.85% |
| $2M–$4M | 0.75% |
| $4M–$5M | 0.55% |
| $5M–$10M | 0.45% |
| $10M–$25M | 0.35% |
| $25M and above | 0.30% |
Fee details and sources
Other fees
- Financial planning
- Financial plans typically cost $4,000 to $10,000 depending on complexity; limited-scope hourly planning is $150 to $800 an hour.
Susan Elser owns 50% to 75% of Elser Financial Planning. The leadership team of Elser Financial Planning includes President Susan Elser. It has 15 employees, 10 of them in advisory roles.
Leadership
- Susan ElserPresident
- Zachary GilesShareholder
- Derek HamiltonShareholder
- Jonathan HerndonShareholder/Managing Partner
- Samuel McDanielShareholder
- Linda MurphyCCO/Managing Partner
- Eric ShetterShareholder
- Kathleen TranovichShareholder/Managing Partner
- James WenglikowskiShareholder
- Mackenzie ZanderShareholder/Operations
Investment adviser representatives
13 representatives listed in the SEC register as of 9 October 2026.
- Susan Christine Elser
- Zachary G Giles
- Allison Marie Gruesbeck
- Derek Carter Hamilton
- Jonathan Lee Herndon
- Grant Hamilton Hofer
- Samuel Rabon McDaniel
- Linda D Murphy
- Eric A Shetter
- Kathleen Steinman
- Kathleen Ellen Tranovich
- Davis Allen Warner
- James Robert Wenglikowski III
Staff
- 15 employees
- 10 in advisory functions
- 10 state-registered reps
- Owns 50% to 75% of Elser Financial Planning, Inc.
Susan Elser
Control person · since January 2007
- Owns 10% to 25% of Elser Financial Planning, Inc.
Jonathan Herndon
since January 2017
- Owns 5% to 10% of Elser Financial Planning, Inc.
Linda Murphy
since December 2012
- Owns 5% to 10% of Elser Financial Planning, Inc.
Kathleen Tranovich
since January 2023
Elser Financial Planning’s regulatory assets grew 4.2× from $500M (February 2021) to $2.11B (September 2026); clients rose from 249 to 584 and employees from 9 to 15.
Figures from each annual filing
| Filed | Regulatory AUM | Clients | Employees | Offices |
|---|---|---|---|---|
| September 2026 | $2.11B | 584 | 15 | 1 |
| February 2025 | $2B | 408 | 12 | 1 |
| January 2024 | $2.06B | 353 | 11 | 1 |
| February 2023 | $1.38B | 312 | 12 | 1 |
| June 2022 | $1.58B | 294 | 12 | 1 |
| February 2021 | $500M | 249 | 9 | 1 |
Besides its headquarters, Elser Financial Planning has 0 offices, with 1 listed address in Indiana.
Indiana · 1 listed address
- 8900 Keystone Crossing, Suite 450, IndianapolisHQ
Contact and registration details
- Legal name
- Elser Financial Planning, Inc.
- Headquarters
- 8900 Keystone Crossing, Suite 450, Indianapolis, IN 46240
- Website
- elserfp.com
- Phone
- 317-731-5615
- SEC file
- 801-80871
- Founded
- 2007
- Structure
- Indiana corporation
- Fiscal year end
- December
Elser Financial Planning uses Charles Schwab ($326M) as custodian for its separately managed accounts. Elser Financial Planning has custody of $242M in client assets for 146 clients.
- Charles SchwabCharles Schwab & Co., Inc. · San Francisco, CA · $326M100%
At year end, Elser Financial Planning’s separately managed accounts were mostly in stocks (87%) and funds (11%). Its reported 13F holdings for the quarter ended 30 June 2026 total $2.31B across 124 positions; the largest are Merchants Bancorp Ind (58.1%), Dimensional ETF Trust (8.1%) and Dimensional ETF Trust (4.5%).
What the accounts hold
- Stocks87%
- Funds11%
- Bonds1%
- Cash1%
Reported 13F holdings
- $2.31B
- Reported 13F value
- 124
- Positions
- 86.8%
- In the 10 largest
- +11.9%
- Value vs. prior quarter
- Merchants Bancorp Ind58.1%
- Dimensional ETF Trust · Core Fixe IN ETF8.1%
- Dimensional ETF Trust · US Core EQT Mkt4.5%
- Dimensional ETF Trust · Intl Core Equity3.6%
- Dimensional ETF Trust · US Equi Mark ETF3.3%
- Dimensional ETF Trust · US Mktwide Value2.1%
- Dimensional ETF Trust · US Small Cap ETF1.9%
- Dimensional ETF Trust · Emerging Mkts CO1.8%
- Dimensional ETF Trust · Intl Cor Fix ETF1.8%
- Dimensional ETF Trust · Shor Dur Fix ETF1.7%
Together, the ten largest are 86.8% of reported value.
How many clients does Elser Financial Planning have?
Elser Financial Planning has 584 clients and manages $2.11 billion for them, as of September 2026. They include 420 high-net-worth individuals, 158 individual clients, and 6 corporations and other businesses.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 29 September 2026
What services does Elser Financial Planning offer?
Elser Financial Planning provides financial planning, portfolio management for individuals and small businesses, education planning, estate planning, insurance, and tax planning.
Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file; Part 2A brochure, Item 4
How much does Elser Financial Planning charge?
Elser Financial Planning charges 0.30%–0.85% a year for its Investment Management Services. Each asset band is charged at its own rate. The fee is billed in arrears and has a $8,500 annual minimum.
Source: ELSER FINANCIAL PLANNING, INC. ADV PART 2 FIRM BROCHURE, filed 29 September 2026
Which custodians does Elser Financial Planning use?
Elser Financial Planning’s separately managed account assets are held at Charles Schwab & Co., Inc. (San Francisco, CA), with $326M. Only custodians holding at least a tenth of those assets are named.
Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 29 September 2026
How many financial advisors does Elser Financial Planning have?
Elser Financial Planning has 10 investment adviser representatives registered with state securities authorities, out of 15 employees, and 10 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 Elser Financial Planning invest in?
At the end of its last fiscal year, Elser Financial Planning’s separately managed accounts held 87% exchange-traded equities, 11% registered funds (mutual funds, ETFs, BDCs), 1% U.S. government and agency bonds 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
Who owns Elser Financial Planning?
Elser Financial Planning’s direct owners are Susan Elser (50% to 75%), Linda Murphy (5% to 10%), Jonathan Herndon (10% to 25%) and Kathleen Tranovich (5% to 10%).
Source: Form ADV Part 1A, Schedules A and B, filed 29 September 2026
How does Elser Financial Planning get paid?
Elser Financial Planning is paid through a percentage of assets under management, hourly charges and fixed fees. 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
Is Elser Financial Planning registered with the SEC?
Yes, Elser Financial Planning has been registered with the SEC as an investment adviser since 9 February 2015. Its CRD number is 143311 and its SEC file number is 801-80871.
Source: Form ADV Part 1A, Item 1, filed 29 September 2026; IAPD firm record
How do I contact Elser Financial Planning?
Elser Financial Planning’s main office is at 8900 Keystone Crossing, Suite 450, Indianapolis, IN 46240. Its phone number is 317-731-5615. Its website is elserfp.com.