Elser Financial Planning, Inc.

ELSER FINANCIAL PLANNING, INC. 8900 Keystone Crossing, Suite 450 Indianapolis, IN 46240 317-731-5615 317-731-5749 (fax) www.elserfp.com admin@elserfp.com Firm Brochure (Part 2A of Form ADV) This brochure provides information about the qualifications and business practices of Elser Financial Planning, Inc. If you have any questions about the contents of this brochure, please contact us at: 317-731-5615 or by email at: admin@elserfp.com. 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 Elser Financial Planning, Inc. is available on the SEC’s website at www.adviserinfo.sec.gov. The searchable IARD/CRD number for Elser Financial Planning, Inc. is 143311. Elser Financial Planning, Inc is a registered Investment Advisor. Registration with the SEC and other state securities authorities does not imply a certain level of skill or training. This brochure was last updated on September 29, 2026. i Elser Financial Planning, Inc.  Material Changes This brochure, dated 09/29/2026, reflects assets under management and number of client accounts as of 12/31/2025. No material changes to this brochure have occurred since the last filing on February 5, 2025. ii Elser Financial Planning, Inc.  Table of Contents Advisory Business………………………………………………………………………..……..1 Fees and Compensation……………………………………...…………………..……....…….3 Performanced Based Fees and Side-by-Side Management….………………...….....………5 Types of Clients…………………………………………..,………….………..……….………5 Method of Analysis, Investment Strategies and Risk of Loss…………….…...…....…….…5 Disciplinary Information………………………………………………………….……..…….7 Other Financial Activities and Affiliations………………………………………...…………7 Code of Ethics, Participation or Interest in Client Transactions and Personal Trading.…7 Brokerage Practices………………………………………………………………………...….8 Review of Accounts……………………………………………...............................................10 Client Referrals and Other Compensation……………………………………….…….…...11 Custody………...……………………………………………………………….…………...…11 Investment Discretion…………………………………………………………………....……11 Voting Client Securities…………………………………………………………………….…11 Financial Information…………………………..……………………….……………….……11 Brochure Supplement (Part 2B of Form ADV)………………………………….…....……..12 Education and Business Standards………………………………………...................……..12 Susan C. Elser, CFP®………………………………………………………...…….…….….13 Derek C. Hamilton, JD, CFP®……………………..….…………………………………….14 Jonathan L. Herndon, CFP®……………….……………………………….……..…….…..14 Eric A. Shetter, CFP®.……………………………………………….…….…….………….14 Kathleen E Tranovich , CFP®, CPWA®.…………………...………..…….…….……….…14 Zachary G. Giles, CFP®, RMA®……………...……….…………………………………….15 Allison Gruesbeck, MBA, CFP®, ChFC®, CDFA®, APMA®, ABFP™…………………….15 James R. Wenglikowski, III, CFP®…………………………….……………………………16 Samuel R. McDaniel, CFP®…….…………………………………………………………...16 Davis Warner………………………………………………………………………………...16 Kathleen Steinman...………………………………………………………………………...16 Linda D. Murphy, FPQP™ …..…………………………………...….……..…...…….……17 Grant Hofer……………….…..…………………………………...….……..…...…….……17 Mackenzie C. Zander, FPQP™…….………………………………………………………..17 Sa Rim……………………………...………………………………………………………..17 Rachel Heminger, FPQP™……………….…….……………….…….…….…….….……..18 TOC 1 Elser Financial Planning, Inc.  Advisory Business Firm Description Elser Financial Planning, Inc. (hereafter referred to as EFP) was founded in 2007. Susan Elser is the principal owner of Elser Financial Planning, Inc., and all other shareholders have less than 20%/each ownership of the firm. The firm is not publicly owned or traded. As of 12/31/2025, EFP managed $1,134,112,973 in assets on a discretionary basis in 1,474 accounts. Types of Advisory Services EFP provides personalized, confidential financial planning and investment management to individuals, trusts, estates, charitable organizations and small businesses. Financial planning is provided through consultation with our clients and may include: determination of financial objectives, identification of financial problems, cash flow management, tax planning, insurance review, investment allocation, education funding, retirement planning and estate planning. Investment management is provided with our clients’ guidance in respect to their overall risk tolerance, tax situation, cash flow needs and desired asset allocation. EFP places trades for clients under a limited power of attorney, and clients receive statements and trade confirmations from an independent custodian. If applicable, EFP may use the third-party platform, Pontera, to manage “held away” accounts. A held away account is an employer sponsored retirement account where EFP does not have a custodial relationship, such as a 401(k) or 403(b). Through the Pontera interface, EFP can trade in “held away” accounts in-line with other investment assets. When clients engage EFP in this capacity, clients are responsible to keep the Pontera platform link active, so that EFP will be able to access and manage the respective account without delay. Investment management agreements may not be assigned without client consent. EFP is strictly a fee-only financial planning and investment management firm. We do not sell annuities or insurance, nor invest in any mutual funds or limited partnerships that pay a commission or sales load to the firm. We are not affiliated with entities that sell such financial products or securities. No commissions in any form are accepted. No finder’s fees are accepted. The use of a TAP involves operational and technology-related risks that differ from the management of assets in other advisory accounts. Investment instructions submitted through the TAP are dependent upon the availability, functionality, and processing capabilities of the - 1 - Elser Financial Planning, Inc.  TAP and the retirement plan's recordkeeper. Transactions may not be processed immediately and may be delayed due to system outages, maintenance, connectivity issues, trading restrictions imposed by the retirement plan, market volatility, processing queues, or other operational factors beyond the firm's control. The timing of transaction execution may differ from the timing of similar transactions placed directly with custodians or broker- dealers. As a result, clients may receive execution prices that differ from those obtained in other accounts managed by the firm. Additionally, certain retirement plans impose restrictions on exchanges, frequent trading, investment changes, or trading windows that may limit the firm's ability to implement investment decisions or rebalance the account as intended. The availability of investment options is determined by the retirement plan sponsor and recordkeeper. Accordingly, the firm's investment recommendations for TAP- managed accounts may be limited to the investment options available within the applicable retirement plan. Under this arrangement, clients grant the TAP electronic access to held-away accounts. Sharing or enabling access to account credentials with any third-party entails cybersecurity and privacy risks that include, but are not limited to, the risk of unauthorized access to the account if credentials are compromised, misused, or intercepted. The firm conducts due diligence of the TAP and seeks to understand its security controls. However, clients should carefully consider these risks before authorizing the firm to manage accounts through a TAP. Clients should follow the plan provider’s security guidelines for passwords and multifactor authentication, review all account statements and activity confirmations regularly, and notify the plan provider, the TAP, and the firm immediately if they suspect any unauthorized activity. FIRM’s use of a TAP enables it to provide investment management services for certain accounts that it otherwise may not be able to manage. As a result, the firm receives advisory fees on assets held in these accounts and therefore has a financial incentive to recommend or continue managing retirement accounts through a TAP. The firm seeks to mitigate this conflict by recommending the use of a TAP only when it believes the arrangement is appropriate for the client based on the client's objectives, the retirement plan's available investment options, and the services to be provided. The firm periodically reviews the functionality and operational performance of the TAP it uses. Non-Participation in Wrap Fee Programs EFP as a matter of policy and practice does not sponsor any wrap fee programs. By definition, a wrap fee program bundles or wraps investment advice, custody and execution services under one contract for a single fee. - 2 - Elser Financial Planning, Inc.  Fees and Compensation Description Our fees are based on either a percentage of assets under management, hourly charges, comprehensive financial plan fees or fixed fees. These fees are outlined in greater detail below. An introductory meeting, which may be by telephone or in person, is free of charge and is an exploratory interview to determine the extent to which our financial planning and/or investment management services may be beneficial to the client. Our relationship with each client is non-exclusive; in other words, EFP provides investment advisory services and financial planning services to multiple clients. We seek to avoid situations in which one client’s interest may conflict with the interest of another of our clients. Comprehensive Financial Planning Services and Fees Financial plans are priced according to the degree of complexity and typically range from $4,000 to $10,000. Clients are asked to sign a “Letter of Agreement” outlining the scope of the financial plan and the plan fee. In the event that the client’s situation is substantially different than disclosed at the onset of the engagement, a revised fee will be provided for mutual agreement. After delivery of a financial plan, clients can continue to engage EFP for a fixed fee or on an hourly basis at the rate of $150 - $800/hour (rate is determined per engagement based on expertise of the advisor). Investment Management Services and Fees EFP clients sign an “Investment Advisory Agreement” outlining all aspects of investment management services and fees. EFP investment management fee is a tiered schedule as follows*: Account Balance: Annual Fee as a % of Assets: The first $2,000,000 .85% Assets between $2,000,001 – $3,999,999 .75% Assets between $4,000,000 – $4,999,999 .55% Assets $5,000,000 – $9,999,999 .45% Assets $10,000,000 – $24,999,999 .35% Assets $25,000,000 and over .30% - 3 - Elser Financial Planning, Inc.  Investment management fees are billed quarterly, in arrears, meaning that clients are invoiced after the three-month billing period has ended. The first quarter fees are pro-rated. Generally fees are deducted from the client’s account to facilitate billing. For “held away” accounts, fees are debited from taxable accounts or billed directly. Clients consent in advance to direct debiting of their investment account. * Clients with investments of less than $1 million may be subject to a minimum annual investment management fee of $8,500. This fee may be waived in certain circumstances, such as anticipated future deposits or financial planning fees paid. Investment management fees may be higher when out of state travel is involved, may be waived or discounted at EFP’s sole discretion, and are not charged on EFP employee accounts. The fee schedule for clients prior to 1/1/2024 may differ from the above as outlined in their Investment Advisory Agreement. EFP does not receive any compensation, in any form, from fund companies. Hourly Planning Services and Fees EFP offers limited scope/hourly planning, typically for younger clients, at a rate of $150/hour - $800/hour. The hourly rate is determined per engagement based on complexity of the project and expertise of the advisor. Fixed Fees Fixed fees are priced based on the complexity of work and are billed quarterly in arrears. Other Fees Custodians may charge transaction fees on purchases or sales of certain mutual funds, bonds or stocks. These transaction charges are usually small and incidental to the purchase or sale of a security. Mutual funds and exchange traded funds (ETF) incur internal operating expenses referred to as an expense ratio. For example, an expense ratio of 0.24 means that the mutual fund/ETF company charges 0.24% for its services. These fees are in addition to the fees paid by the client to EFP. Termination of Agreement Clients may terminate agreements within 5 days of signing the “Letter of Agreement” or “Investment Advisory Agreement” without incurring any fees. At any time after the 5 days, clients may terminate agreements by notifying EFP in writing and may be charged a pro- rated fee. EFP may terminate agreements at any time by notifying the client in writing and may bill a pro-rated fee for time spent prior to termination. - 4 - Elser Financial Planning, Inc.  Performance-Based Fees and Side-by-Side Management EFP does not accept performance-based fees nor manage accounts which impose performance-based fees. Types of Clients EFP provides financial planning and/or investment advice to individuals, business entities, charitable organizations, trusts or estates. EFP typically provides investment management services to clients with portfolios of $1 million or greater. Methods of Analysis, Investment Strategies and Risk of Loss Methods of Analysis Security analysis methods may include charting, fundamental analysis, technical analysis and cyclical analysis. The main sources of information include financial newspapers and magazines, research materials prepared by others, corporate rating services, annual reports, prospectuses, and filings with the Securities and Exchange Commission. Other sources of information that we use include Dimensional Fund Advisors’ research, Charles Schwab & Company's research services, Vanguard research servious and various financial websites. Investment Strategies EFP investment clients are required to complete and sign an “Investment Policy Statement” which documents their current investment situation, federal tax bracket, investment knowledge, risk tolerance, investment objectives, time horizon for the invested assets and desired investment strategy. This information becomes the basis for the strategic asset allocation plan which we believe will best meet the client's stated long-term, personal financial goals. The “Investment Policy Statement” is reviewed and updated periodically, and clients may request changes at any time. The investment advice which we provide is based upon long-term investment strategies which incorporate the principles of Modern Portfolio Theory. We utilize no-load, low-cost, tax-efficient, well-diversified stock and bond mutual funds/ETFs, individual bonds, US government treasuries, CD’s and other similar investments to develop globally diversified portfolios. - 5 - Elser Financial Planning, Inc.  We typically recommend a combination of Dimensional Funds Advisors (DFA) and Vanguard stock and bond funds/ETFs. The DFA stock funds/ETFs offer broad diversification, tilting toward companies of smaller market capitalization, sustained profitability and those with a relatively low market value to book value ratio (i.e. "value style" investing). DFA stock fund/ETF internal expenses are generally lower than the internal expenses incurred by most other stock funds when comparing funds in the same asset class. On a quarterly basis we review the Schwab mutual fund reports cards for the funds/ETFs we use and compare historical performance, historical risk and internal expense to both the fund/ETF category average and the comparable index. If a Held Away Account is included in managed Assets, our investment recommendations are limited to the investment alternatives provided by the retirement plan. For certain high net worth investors, EFP may recommend DFA unified managed accounts (UMAs) which offer tax-efficient solutions for cash spending, redemptions, gifting, and gain/loss harvesting. UMAs are held at Charles Schwab & Co. and DFA is given limited trading authority on accounts. If a UMA is included in managed Assets, the Client is provided with the applicable DFA disclosure documents (Form CRS, ADV Part 2A & 2B, and Privacy Policy) which outline the relationship and associated fee. Client portfolios may also include some individual stock securities or individual bonds, but these are generally part of a client’s investment holdings prior to becoming a client of EFP. We generally recommend stock investment strategies that focus on long-term appreciation for tax efficiency. However, we recommend fixed income investment strategies based on the interest rate climate and credit quality. Retirement Plan Advice and Rollovers As a registered investment adviser, our firm is a fiduciary to every client, meaning that we are obligated to always act in our clients’ best interests. In addition to our fiduciary status as an investment adviser firm, when our firm provides advice to retirement investors, such as advice on an employer-sponsored retirement plan, Individual Retirement Account (IRA) or other qualified retirement plan, we may also be considered by the Department of Labor and the Internal Revenue Service to be acting as a fiduciary under Title I of ERISA and the Internal Revenue Code. These fiduciary obligations include requirements that we disclose our services and fees, conflicts of interest, and the reasons our recommendations are in the client’s best interests. After an analysis of the client’s situation and plan documents, we will consider relevant factors including but not limited to the following: • Alternatives to rolling the employer plan to an IRA, including leaving the money in an employer’s retirement plan (if permitted); rolling the money to a new employer plan if available; or cashing out. - 6 - Elser Financial Planning, Inc.  • The fees and expenses associated with both the employer’s plan and the rollover IRA and whether the employer currently pays for some or all of the plan’s expenses. • The different levels of services and investments available under the employer plan and the rollover IRA, and other alternatives. • How withdrawals are treated under each alternative. • Protection from creditors and legal judgments. • Required minimum distribution options. • Any other relevant variables particular to the client’s situation. The client will be made aware of conflicts of interest including but not limited to whether our firm will profit from investment management fees, and whether services we offer are already provided by or available through the current plan, potentially at no additional cost. Risk of Loss All investments have certain risks. Our investment approach is to educate clients on these risks and select only those risks that they can tolerate in exchange for potential return. Disciplinary Information EFP and its employees HAVE NOT been involved in legal or disciplinary events related to past or present investment clients. Other Financial Industry Activities and Affiliations EFP and its employees are NOT registered broker-dealers, municipal securities dealers, government securities dealers or brokers, future commission merchants, commodity pool operators, commodity trading advisors or associated persons of the foregoing entities. EFP DOES NOT have any relationship or arrangement that involves any remuneration of fees. Code of Ethics, Participation or Interest in Client Transactions and Personal Trading EFP has adopted a Code of Ethics in compliance with Rule 204A-1 of the Investment Advisors Act of 1940. The key component of our Code of Ethics states: EFP and its investment advisor representatives and employees shall always: • Act in the best interests of each and every client; • Act with integrity and dignity when dealing with clients, prospects, team members and others; - 7 - Elser Financial Planning, Inc.  • Seek at all times to preserve our firm's independence and to maintain our complete objectivity with respect to our advisory services and each recommendation made to our clients. The Code of Ethics further includes our firm’s policy prohibiting the use of material non- public information and protecting the confidentiality of client information. To supervise compliance with our Code of Ethics, we require that all employees provide duplicate statements and confirmations on all personal trading accounts to the firm’s Chief Compliance Officer on no less than a quarterly basis. EFP requires that all individuals must act in accordance with all applicable Federal and State regulations governing registered investment advisory practices. Any individual not in observance of the above may be subject to termination. EFP and its related persons, as a matter of policy, do not recommend to clients nor buy or sell for client accounts, securities in which the firm or its related persons have a material financial interest. EFP provides that individuals associated with the firm may buy or sell securities for their personal accounts identical or different than those recommended to clients. However, it is the expressed policy of the firm that no person employed by the firm shall prefer his or her own interest to that of the client nor make personal investment decisions based on investment decisions of the clients. The complete EFP Code of Ethics is available for review by clients and prospective clients upon request. Brokerage Practices Selecting Brokerage Firms Annually, we compare Charles Schwab & Co., Inc. and Fidelity as custodians in the areas of proven integrity, financial responsibility, on-going high-quality service, branch office availability and reasonable commission rates of the firm. After evaluating the firms listed, we continue to recommend that clients establish brokerage accounts with the Schwab Institutional division of Charles Schwab & Co., Inc. (Schwab) to maintain custody of the clients’ assets and to effect trades for their accounts. Schwab is a FINRA registered broker- dealer and member of SIPC/NYSE. Schwab Institutional provides EFP with access to them as long as a total of at least $10 million of our clients’ account assets are maintained at Schwab. Schwab does not charge for custody of clients’ accounts but is compensated by account holders through trading commissions or other transaction-related fees that are executed through Schwab or that settle into Schwab accounts. - 8 - Elser Financial Planning, Inc.  The benefits provided by Schwab Institutional include assistance with practice management and assistance with the management of client accounts. These services include but are not limited to: (a) investment research, both Schwab’s own and that of third parties; (b) receipt of electronic duplicate trade confirmations and account statements; (c) access to a trading desk serving investment adviser firm participants exclusively; (d) access to the investment advisor portion of their web sites which includes practice management articles, compliance updates and other financial planning related information (e) access to vendors (such as insurance or compliance providers or providers of research or other materials) on a discounted fee basis through discounts arranged by the custodian; (f) assistance with our back-office functions, including recordkeeping and client reporting; and (g) conferences which our firm may attend on issues such as practice management, marketing, investment theory, financial planning, business succession, regulatory compliance and information technology. Receiving benefits from Schwab is an incentive for us to use Schwab exclusively for custody services and presents a conflict of interest. We believe, however, that taken in the aggregate, our selection of Schwab as custodian and broker is in the best interests of our clients. Our selection is primarily supported by the scope, quality, and price of Schwab’s services. EFP has trading authority only on two accounts held on the Fidelity Family Office platform. EFP DOES NOT receive fees or commissions from any of these arrangements or other soft dollars. As disclosed under Item 4 above, EFP provides investment management services for certain employer-sponsored retirement accounts (such as 401ks and 403bs) through a third-party access provider (“TAP”). Because retirement plan transactions submitted through a TAP are generally processed individually through the applicable retirement plan recordkeeper, the firm cannot aggregate transactions for TAP-managed accounts with transactions executed for other client accounts. As a result, transactions for TAP-managed accounts may occur at different times and prices than transactions executed for other clients or other accounts managed by the firm. Differences in execution timing and pricing may result in performance differences between TAP-managed accounts and other accounts managed pursuant to similar investment strategies. These limitations are inherent in the structure of employer- sponsored retirement plans and the manner in which TAPs interface with plan recordkeepers. About Our Relationships with Investment Product Providers Following a stringent interview process, EFP was granted access by Dimensional Funds Advisors (DFA) to its mutual funds. Dimensional Funds Advisors is an Austin, TX-based mutual fund company with global assets under management of $944 billion as of December 31, 2025. - 9 - Elser Financial Planning, Inc.  Benefits that EFP receives from DFA, which are also received by other Registered Investment Adviser firms granted access to the DFA funds, include: (a) seminars hosted by Dimensional Funds Advisors at which the investment products of Dimensional Funds Advisors are explained, and academic instruction is given on asset allocation strategies, financial planning and practice management; (b) access to the "financial advisor" portion of the Dimensional Funds Advisors web site (www.dfaus.com), which contains additional academic research, practice management articles, newsletters, educational video presentations, software and investment returns data; (c) use of the DFA Returns and DFA Allocation Evaluator software programs and accompanying data; (d) various print materials (including article reprints and DFA brochures); (e) practice management conferences and telephone conferences with Dimensional Funds Advisors’ team members to discuss specific issues regarding academic research relating to investment theory and/or relating to practice development (marketing) and management issues; (f) participation in a regional study group sponsored and hosted by Dimensional Funds Advisors; and (g) other services and benefits. We are under no obligation and receive no compensation to recommend DFA mutual funds/ETFs to our clients. We do not provide any payment to DFA for access to their mutual funds/ETFs. Review of Accounts Periodic portfolio reviews are performed by advisory team members and rebalancing software to determine if the values in any asset class have strayed beyond a client’s target minimums or maximums. Rebalancing may not be completed for various reasons, such as avoidance of short-term capital gains, deferring long-term capital gains realization, minimization of transaction costs, or the advisor’s view on whether the asset class is undervalued or overvalued relative to historic norms. Clients are only contacted in the event that rebalancing actions are recommended. Additional portfolio reviews are undertaken upon request by the client, such as when special cash needs arise or when additional cash or securities are added to the investment portfolio. Other conditions that may trigger a review are changes in the tax laws, new investment information and changes in a client's own situation. We may also recommend sales and purchases to affect tax loss harvesting in addition to rebalancing actions. Investment clients meet with their EFP advisor on at least an annual basis and receive a follow up letter or email reviewing the meeting topics. Investment clients receive portfolio updates from EFP by mail or electronically on no less than an annual basis. The updates include account performance reports, billing summary and an investment newsletter. - 10 - Elser Financial Planning, Inc.  Monthly account statements and trade confirmations are provided by mail or electronically to the client directly from Schwab. These statements reflect the account assets and transactions executed in the account. Clients may also directly access account information via Schwab’s secure web site. Client Referrals and Other Compensation EFP referrals typically come from current clients, estate planning attorneys, accountants, employees and other similar sources. The firm DOES NOT compensate referring parties for these referrals. EFP does not accept referral fees or any form of remuneration from other professionals when a prospect or client is referred to them. EFP receives no other form of compensation from or for client referrals. Custody EFP’s custody of client assets is limited to deduction of investment management fees, and 1st or 3rd party money movement only as directed by a client’s letter of authorization to a specifically identified end account. In other words, EFP is NOT granted authority to withdraw, transfer or otherwise move funds or cash from any client’s account to an EFP employee’s account or the account of any other non-authorized third party. Additionally, any online access granted by a client for accounts not under EFP discretionary management must have “view only” restrictions. This is for the safety of our clients’ assets. Investment Discretion EFP is granted limited discretion when clients sign the EFP Investment Advisory Agreement and “limited power of attorney” authorization on their accounts forms. Voting Client Securities EFP does not vote proxy on securities for any client. Financial Information EFP does not have any financial impairment that will preclude the firm from meeting contractual commitments to clients and the owners have never been the subject of a bankruptcy proceeding. - 11 - Elser Financial Planning, Inc.  Brochure Supplement (Part 2B of Form ADV) Education and Business Standards EFP employees who render investment advice or financial planning services to clients must have a college degree, relevant financial and investment advisory experience and be a Certified Financial Planner practitioner or Investment Advisor Representative in good standing with their respective Board of Standards. Registered Certified Financial Planner (CFP®): The CERTIFIED FINANCIAL PLANNER™, CFP® and federally registered CFP (with flame design) marks (collectively, the “CFP® marks”) are professional certification marks granted in the United States by Certified Financial Planner Board of Standards, Inc. (“CFP Board”). The CFP® certification is a voluntary certification; no federal or state law or regulation requires financial planners to hold CFP® certification. It is recognized in the United States and a number of other countries for its (1) high standard of professional education; (2) stringent code of conduct and standards of practice; and (3) ethical requirements that govern professional engagements with clients. To use the CFP® designation, an individual must satisfactorily fulfill the following requirements: • Education – Complete an advanced college-level course of study addressing the financial planning subject areas that CFP Board’s studies have determined as necessary for the competent and professional delivery of financial planning services, and attain a Bachelor’s Degree from a regionally accredited United States college or university (or its equivalent from a foreign university). CFP Board’s financial planning subject areas include insurance planning and risk management, employee benefits planning, investment planning, income tax planning, retirement planning, and estate planning. • Examination – Pass the comprehensive CFP® Certification Examination, which includes case studies and client scenarios designed to test one’s ability to correctly diagnose financial planning issues and apply one’s knowledge of financial planning to real world circumstances • Experience – Complete at least three years of full-time financial planning-related experience (or the equivalent, measured as 2,000 hours per year) • Ethics – Agree to be bound by CFP Board’s Standards of Professional Conduct, a set of documents (which can be found at www.cfp.net) outlining the ethical and practice standards for CFP® professionals • Continuing Education – Complete 30 hours of continuing education hours every two years, including two hours on the Code of Ethics and other parts of the Standards of Professional Conduct Investment Advisor Representative (IAR): • Education – minimum of a bachelor’s degree • Examination - must be properly registered, and, at a minimum, complete credentialing exams certified by FINRA (Series 65 or Series 7 and 66 exams) - 12 - Elser Financial Planning, Inc.  • Responsibilities - include making financial recommendations, managing client accounts, and providing advisory services • Ethics – bound by fiduciary standards Financial Paraplanner Qualified Professional (FPQP™): Financial Paraplanner Qualified Professional (FPQP™) designation is awarded by the College for Financial Planning® FPQP™ designation requirements: • Completion of the education requirements set by the College for Financial Planning. • Successful completion of the Financial Paraplanner Qualified Professional Exam. • Completion of 16 continuing education hours every two years. • Signed Code of Ethics which includes agreeing to abide by the Standards of Professional Conduct and Terms and Conditions. Advisor (CFP®) employees are supervised by Managing Partners, Jonathan Herndon and Kathleen Tranovich. All other employees are supervised by Linda Murphy, Managing Partner/Chief Compliance Officer. Supervision is accomplished through review of work and frequent office interactions as well as remote interactions. Jon, Kathleen or Linda can be contacted by phone at 317-731-5615 or via email at jon@elserfp.com, kathleen@elserfp.com or linda@elserfp.com respectively. The following are NOT applicable for any EFP employee: • Disciplinary Information • Other Industry Related Business Activities • Additional Compensation • Arbitration Claims • Self-Regulatory Organization or Administrative Proceeding • Bankruptcy Petition EFP Employees Susan C. Elser, CFP® Year of Birth: 1963 Educational Background: • CERTIFIED FINANCIAL PLANNER TM (2000) • Indiana University, B.A. Economics (1985) Business Experience: Independent Fee-only Financial Planner (2004 – 2006) • Elser Financial Planning, Inc. - President and Wealth Advisor (2007 – present) • • Oxford Financial Group. Ltd. - Financial Plan Writer (2000 – 2004) • Charles Schwab & Co - Supervising Broker, Series 7, 8 & 63 (1996 – 2000) - 13 - Elser Financial Planning, Inc.  Derek C Hamilton, JD, CFP® Year of Birth: 1976 Educational Background: • CERTIFIED FINANCIAL PLANNER TM (2013) • Stanford Law School, J.D. (2003) • Ball State University, B.A. (1998) Business Experience: • Elser Financial Planning, Inc. – Wealth Advisor (2014 - present) • PNC Wealth Management - Senior Wealth Planner (2012 – 2014) • Bingham Greenebaum Doll, LLP- Attorney (2007 – 2012) • Baker & Daniels, LLP - Attorney (2005 – 2007) • McDermott Will & Emery, LLP - Attorney (2003 - 2005) Jonathan L. Herndon, CFP® Year of Birth: 1992 Educational Background: • CERTIFIED FINANCIAL PLANNER TM (2017) • Olivet Nazarene University, B.S. Finance, Minors in Accounting, Management and Non-profit management (2015); Dean’s List; Magna Cum Laude Business Experience: • Elser Financial Planning, Inc. – Wealth Advisor and Managing Partner (2023 - present) • Elser Financial Planning, Inc. – Wealth Advisor (2017 - 2022) • Elser Financial Planning, Inc. – Financial Planning Associate (2015 - 2017) Eric A. Shetter, CFP® Year of Birth: 1967 Educational Background: • CERTIFIED FINANCIAL PLANNER TM (2018) • Masters Equivalent in Economics, Government & U.S. History (2004) • University of Southern Indiana, Teacher Certificate in Economics, Government & U.S. History (1994) Business Experience: • Elser Financial Planning, Inc. – Wealth Advisor (2018 - present) • Elser Financial Planning, Inc. – Financial Planning Associate (2016 - 2018) • MSD of Lawrence Twp - Economics Teacher (2001 - 2016) Kathleen E. Tranovich, CFP®, CPWA® Year of Birth: 1980 Educational Background: • FINRA Series 65 Licensed • Certified Private Wealth Advisor® (2021) • CERTIFIED FINANCIAL PLANNER TM (2010) • St. Mary’s University (M.A. Education, 2005) - 14 - Elser Financial Planning, Inc.  • College of St. Benedict (B.A. Education, 2002) Business Experience: • Elser Financial Planning, Inc – Wealth Advisor and Managing Partner (2023 - Present) Investment Advisor with Cherry Tree Wealth Management (2007 - 2015) • Elser Financial Planning, Inc – Wealth Advisor (Oct 2021 - 2022) • Senior Investment Advisor with Cherry Tree Wealth Management (2016 - 2019) • • Elementary School Teacher (2002 - 2007) Zachary G. Giles, CFP®, RMA® Year of Birth: 1997 Educational Background: • Retirement Management Advisor (2023) • CERTIFIED FINANCIAL PLANNER TM (2023) • FINRA Series 65 Licensed • Southern New Hampshire University, M.A. English and Creative Writing (2020) • Pensacola Christian College, B.S. English Education (2018) Business Experience: • Elser Financial Planning, Inc – Wealth Advisor (July 2023 - present) • Elser Financial Planning, Inc – Financial Planning Associate (Jan 2022 – June 2023) • Charles Schwab - Specialist, High Net Worth (July 2021 – Dec 2021) • Charles Schwab - Financial Services Professional, Broker (July 2020 – July 2021) • Franklin Township MS – English Language Arts Teacher (July 2019 – July 2020) • Anderson Prep Academy - English Language Arts Teacher (Jan 2019 – July 2019) Allison Gruesbeck, MBA, CFP®, ChFC®, CDFA®, APMA®, ABFPTM Year of Birth: 1964 Educational Background: • Accredited Behavioral Finance Professional (2024) • Accredited Portfolio Management Advisor (2022) • Chartered Financial Consultant (2021) • Certified Divorce Financial Analyst (2021) • CERTIFIED FINANCIAL PLANNER TM (2018) • Northwestern University – Executive CFP Preparation Program (2017) • Western Governors University - Master of Business Administration (2013) • Ball State University – Bachelor of General Studies (2012) • FINRA Series 7, 63, 9/10, 65 and Life and Health licenses Business Experience: Impact Financial – Managing Director (November 2021 – December 2024) • Elser Financial Planning, Inc – Wealth Advisor (January 2025 - present) • • Wise Financial – Financial Planner (July 2020 – October 2021) • Wealth Strategic Designers – Financial Advisor (September 2019 – June 2020) • Raymond James - Financial Advisor (July 2018 – September 2019) - 15 - Elser Financial Planning, Inc.  • Charles Schwab Private Client – Associate Portfolio Consultant (December 2016 – March 2018) • Charles Schwab – Financial Services (January 2014 – December 2016) • Sysco – Marketing Associate (May 1996 – September 2013) James R. Wenglikowski, III, CFP® Year of Birth: 1999 Educational Background: • CERTIFIED FINANCIAL PLANNER TM (2024) • FINRA Series 65 Licensed • Ball State University, B.S. Finance (2021) Business Experience: • Elser Financial Planning, Inc – Wealth Advisor (May 2024 - present) • Elser Financial Planning, Inc – Associate Advisor (May 2021 – April 2024) Samuel R. McDaniel Year of Birth: 2000 Educational Background: • FINRA Series 65 Licensed • Indiana University Kelley School of Business, B.S. Finance and Accounting (2023) Business Experience: • Elser Financial Planning, Inc – Associate Advisor (May 2023 - present) • Valeo Financial Advisors, LLC - Intern (Summer 2022) • Northwestern Mutual – Intern (Summer 2021) Davis A. Warner Year of Birth: 2002 Educational Background: • FINRA Series 65 Licensed • Indiana University Kelley School of Business, B.S. Finance and Accounting (2025) Business Experience: • Elser Financial Planning, Inc – Associate Advisor (June 2025 - present) • Elser Financial Planning, Inc – Intern (Summer 2024) Kathleen Steinman Year of Birth: 2003 Educational Background: • Butler University, B.S. Finance (2023) • FINRA Series 65 Licensed Business Experience: • Elser Financial Planning, Inc – Associate Advisor (June 2025 - present) • Elser Financial Planning, Inc – Intern (Spring 2025) - 16 - Elser Financial Planning, Inc.  Linda D. Murphy, FPQP™ Year of Birth: 1962 Educational Background: • FINRA Series 65 Licensed • Financial Paraplanner Qualified Professional™ (2006) • Indiana University School of Medicine, B.S. Occupational Therapy (1984) Business Experience: • Elser Financial Planning, Inc. – Managing Partner, Chief Compliance Officer, Senior Trader and Paraplanner (2023 - present) • Elser Financial Planning, Inc. – Chief Compliance Officer, Trader and Paraplanner (2006 -2022) Grant H. Hofer Year of Birth: 1989 Educational Background: • FINRA Series 3, 4, 7, 9, 10, 63, 65 Licensed • Hanover College, B.A. Communications (2011) Business Experience: • Elser Financial Planning, Inc – Senior Trader (February 2026 - present) • Valeo Financial Advisors – Trader (March 2025 – January 2026) • Pensionmark Financial Group – Investment Analyst (December 2022 – March 2025) • ClearPoint Federal Bank & Trust – Fiduciary Investment Manager (March 2021 – December 2022) • Global Atlantic Financial Group – Assistant VP (April 2016 – March 2021) • Charles Schwab – Associate Brokerage Services (May 2013 – March 2016) Mackenzie C. Zander, FPQP™ Year of Birth: 1997 Educational Background: • Butler University Lacy School of Business, B.S. Finance and Marketing (2020) • Financial Paraplanner Qualified Professional™ (2020) Business Experience: • Elser Financial Planning, Inc – Investment Operations Specialist (July 2020 – present) • Elser Financial Planning, Inc – Financial Planning Intern (Spring 2020) Sa Rim Year of Birth: 2000 Educational Background: • Indiana Wesleyan University – B.S. Management& Finance (2022) Business Experience: • Elser Financial Planning, Inc – Client Service Specialist - 17 - Elser Financial Planning, Inc.  (May 2025 – present) • RBC Wealth Management – Client Service Associate (2023 – 2025) • Charles Schwab – Financial Services Representative (2022 – 2023) Rachel M. Heminger, FPQPTM Year of Birth: 1983 Educational Background: • Financial Paraplanner Qualified Professional™ (2024) • University of Arkansas Grantham, B.S. Business Management (2016) Business Experience: • Elser Financial Planning, Inc. – Operations Administrator (2024-present) • Ascension Health (2015 – 2024) EFP also retains Sally Tassani of Tassani and Associates, Inc as a business consultant. Sally provides services to the firm only and has no access to EFP client information or their investments. - 18 - Elser Financial Planning, Inc.