Reshape Wealth is a investment adviser based in Boca Raton, FL, that holds a 76.7/100 Fidelon TransparencyScore (12th percentile among SEC-registered advisers), with 1 registered advisor. Score based on public SEC and FINRA filings.
Reshape Wealth
Reshape · CRD #330582
A fee-only investment adviser with a clean regulatory record and fiduciary commitment.
Fidelon Fact Sheet
Reshape Wealth is an SEC-registered investment adviser in Boca Raton, FL. It used to be called Reshape Planning. Its one registered advisor typically serves individuals and families, high-net-worth individuals and business owners. It manages $232.2 million across 648 client accounts. It charges a percentage of the money it manages for you, and it does not report earning commissions. Its services include financial planning, portfolio management, educational seminars and investment newsletters. Its record shows no customer complaints, regulatory actions or fines.
Peer Context
9,523rd of 10,815
SEC-registered advisers
Bottom 12%
718th of 799
SEC-registered advisers in FL
Bottom 10%
32nd of 35
SEC-registered advisers in Boca raton, FL
Bottom 9%
How This Firm Works
Registration & Standard of Care
Investment Adviser — this firm is a registered investment adviser, held to a fiduciary standard — legally required to act in clients' best interests.
How This Firm Gets Paid
- Charges a percentage of assets under management
- Charges fixed fees for specific services
- Does not earn commissions on product sales
What you’d pay
Your balance falls in the All accounts band, charged at up to 2.50% on the full amount. The brochure files this rate as a maximum, not a price. What you actually pay is set in your agreement and may be lower.
This fee is negotiable
“Portfolio Management fees charged as well as the timing of assessment are negotiated between Reshape and the client.”
From their Form ADV Part 2A. Most investors never ask.
Other arrangements offered
- • A negotiated fee, agreed individually
Not included above
- • Clients are responsible for additional fees such as trading, exchange, custodial fees, investment management fees, contingent deferred sales charges, 12(b)-1 trails on mutual funds, and a technology fee of $40 per account annually charged in advance on a quarterly basis.
Estimated from the firm’s Form ADV Part 2A brochure — not a quote. Actual fees are set in your agreement and may differ. Costs charged by others (custodians, fund managers) are not included.
What This Firm Charges
| Account Size | Annual Fee |
|---|---|
| All accounts | Up to 2.50% |
Billed billed in advance or in arrears monthly or quarterly as agreed in the iaa
Extracted from Form ADV Part 2A brochure
Specializations
Extracted from Form ADV Part 2A brochure
Who They Typically Serve
Extracted from Form ADV Part 2A brochure
Key Findings
Strengths
- Fee-only compensation — no commission income reported
- Registered as investment adviser with fiduciary obligation
- No broker-dealer registration — advisory services only
- Clean regulatory record — no disclosures, arbitrations, or fines
- Transparent fee structure — charges advisory fees, no commissions
Things You Should Know
- Its brochure names payments received for referring clients elsewhere or payments to people who refer clients to the firm as conflicts, but it does not name this conflict where the SEC requires, say what the firm is paid for it, or explain what this arrangement tempts the firm to do. Ask whether the firm is paid when it sends you to another company, and by whom.Items 10, 11, 12.B and 14
- Its brochure says some of its people can earn insurance commissions, but it does not say you can buy the same products elsewhere, commissions can shape what they recommend, or whether commissions lower your advisory fee. Ask whether you could buy any recommended product through another broker or insurer.Item 5.E
Conflict Audit
Zero material conflicts identified in regulatory filings.
Source: Form ADV Part 1, Items 6-8; Part 2A, Items 10-14
What this firm says about how it gets paid
“Some of our financial professionals are licensed insurance agents who sell insurance products for a commission.”
Source: the firm’s own Form CRS, filed 2026-03-09 — quoted directly
Regulatory Track Record
0
Disclosures
Clean record — no disclosures found
$0
Total Fines
Clean record — no fines found
Regulatory Events
TransparencyScore Dimensions
Disclosure Record
Customer complaints, arbitrations, and fines. Frequency and recency matter.
100/100
Strong
Avg for investment adviser firms: 82.6 | Top 10%: 99.5
Filing Quality
How clearly the firm describes services, fees, and investment approach in regulatory filings.
94/100
Strong
Avg for investment adviser firms: 84.1 | Top 10%: 100
Conflict Disclosure
How openly the firm explains who pays it and what it's paid to sell. The conflict isn't the problem — hiding it is.
34/100
Poor
Avg for investment adviser firms: 54 | Top 10%: 67
Enforcement History
Self-reported legal and disciplinary history from Form ADV Item 11.
100/100
Strong
Avg for investment adviser firms: 99.7 | Top 10%: 100
Their two-page relationship summary
The SEC requires every SEC-registered investment adviser to hand you this summary, called a Form CRS, and says what it must cover. We checked this firm's against that list. What is a Form CRS?
- Does it include everything the SEC requires?
- Required sections
- 81/100
- Does it explain how the firm's conflicts affect you?
- Conflicts of interest
What to askAsk the advisor to name every way the firm gets paid besides your fee, and how each one can affect their advice.
- 52/100
- Can you tell what you would pay?
- What you pay
- 75/100
- Is it written in plain English?
- Plain language
- 88/100
This firm's Form CRS averages 74 out of 100. It adds 3.5 points once the firm's filings and record score 90 on their own; they score 76.69 today.
What their brochure tells you
The firm must give you this brochure, Form ADV Part 2A, before you sign. We read it against the SEC's own instructions, item by item. Quotes are the firm's own words; page numbers refer to the filed brochure. What is in a brochure?
Can you tell what you'd pay and when?Brochure Fee Clarity100/100
The SEC asks every brochure to spell out the fee schedule, whether fees can be negotiated, how and when you are billed, the other costs you pay, and refunds.
The brochure answers every one of these.
- Can you tell what you'd pay?CoveredItem 5.A
Without a fee schedule you cannot compare this firm with any other.
The portfolio management fees are either calculated as a percentage of the Client’s assets under management (“AUM Fee”) in each Account (or as based on the household value of all Account(s) for Client’s who have linear fee schedules) including all cash, cash equivalents and other assets (including accrued interest, accrued dividends, and margin) in Account(s) (the “Account Value”) and/or a flat fee basis as negotiated between Client and Advisor.p. 9
- Does it say whether the fee can be negotiated?CoveredItem 5.A
If fees are negotiable, other clients may be paying less than you for the same service.
Portfolio Management fees charged as well as the timing of assessment are negotiated between Reshape and the client.p. 9
- Does it say whether the fee comes out of your account or gets billed?CoveredItem 5.B
A fee taken straight from your account is easy to stop noticing.
Fees due to Reshape are typically deducted by the custodian directly from the client’s account under management and will be paid to Reshape as appropriate.p. 10
- Does it say how often you're charged?CoveredItem 5.B
Monthly, quarterly, in advance or in arrears changes what you owe when you leave.
Portfolio management fees will be billed in advance or in arrears monthly or quarterly as agreed in your IAA.p. 9
- Does it list the other costs you pay, like fund and custodian fees?CoveredItem 5.C
The advisory fee is rarely the whole bill; fund, trading and custody costs come on top.
Clients are responsible for any additional fees or charges that result from the maintenance of or trading within a client’s account.p. 13
- Does it say how you get money back if you leave mid-period?CoveredItem 5.D
If you pay in advance and leave early, the refund rule decides what you get back.
Upon termination, Reshape shall refund any unearned prorated portion of fees charged in advance based upon the number of days remaining in the billing quarter.p. 13
Does it explain each conflict of interest and what it could cost you?Brochure Conflict Specificity33/100
The SEC asks the brochure to name each way the firm gets paid besides your fee, what that tempts the firm to do, and what it can cost you.
Each point is marked Covered or Not found. When a point is not found, we say what to ask.
If the firm pays people who refer clients, does it explain those payments?
Payments to people who refer clients to the firm
- Does the brochure name this conflict where the SEC requires?CoveredItems 10/11/12.B/14
A conflict named in the right place is one the firm has thought about; one buried elsewhere is easy to miss.
Reshape has promoter agreements with and will receive client referrals from certain unaffiliated parties in exchange for compensation from Reshape.p. 27
- Does it explain what this arrangement tempts the firm to do?CoveredStaff Bulletin Q11
You can only judge advice when you know which way it is being pulled.
The compensation paid to a promoter creates an incentive for the promoter to refer clients to us, which is a conflict of interest for the promoter.p. 27
- Does it describe what the arrangement actually is?Not found in the brochureStaff Bulletin Q11
A conflict described in one vague sentence tells you it exists but not how it works.
What to askAsk the advisor to explain this arrangement in plain terms, including who pays whom.
- Does it say what the firm is paid for it?Not found in the brochureStaff Bulletin Q11
The size of the payment tells you how strong the pull is.
What to askAsk how much the firm or its people receive from this arrangement in a typical year.
- Does it say how the firm comes out ahead?Not found in the brochureStaff Bulletin Q11
Benefits that are not cash, like free services or referrals, still shape advice.
What to askAsk what the firm gains from this arrangement beyond fees.
- Does it say what it can cost you?Not found in the brochureStaff Bulletin Q11
Every conflict has a price; the question is whether the brochure puts it in your hands.
What to askAsk what this arrangement can cost you, in fees, returns or choices you do not get.
- Does it say how the firm keeps this conflict in check?Not assessed yetItems 10.C-D, 11.B-D, 14.A
A conflict with no control on it is left to the advisor's goodwill.
What to askAsk whether anyone was paid to refer you to the firm, and whether that affects what you pay.
If the firm is paid for referring clients elsewhere, does it explain those payments?
Payments received for referring clients elsewhere
- Does the brochure name this conflict where the SEC requires?Not found in the brochureItems 10/11/12.B/14
A conflict named in the right place is one the firm has thought about; one buried elsewhere is easy to miss.
What to askAsk the advisor to walk you through every way the firm gets paid besides your fee.
- Does it explain what this arrangement tempts the firm to do?Not found in the brochureStaff Bulletin Q11
You can only judge advice when you know which way it is being pulled.
What to askAsk what this arrangement gives the firm a reason to recommend, and how often that happens.
- Does it describe what the arrangement actually is?Not found in the brochureStaff Bulletin Q11
A conflict described in one vague sentence tells you it exists but not how it works.
What to askAsk the advisor to explain this arrangement in plain terms, including who pays whom.
- Does it say what the firm is paid for it?Not found in the brochureStaff Bulletin Q11
The size of the payment tells you how strong the pull is.
What to askAsk how much the firm or its people receive from this arrangement in a typical year.
- Does it say how the firm comes out ahead?Not found in the brochureStaff Bulletin Q11
Benefits that are not cash, like free services or referrals, still shape advice.
What to askAsk what the firm gains from this arrangement beyond fees.
- Does it say what it can cost you?Not found in the brochureStaff Bulletin Q11
Every conflict has a price; the question is whether the brochure puts it in your hands.
What to askAsk what this arrangement can cost you, in fees, returns or choices you do not get.
- Does it say how the firm keeps this conflict in check?Not assessed yetItems 10.C-D, 11.B-D, 14.A
A conflict with no control on it is left to the advisor's goodwill.
What to askAsk whether the firm is paid when it sends you to another company, and by whom.
If its people can earn insurance commissions, does it explain them?
Insurance commissions
An adviser's own license, not the firm's — scored once under Sales Compensation
Reshape’s Investment Advisor Representatives act as agents appointed with various life, disability or other insurance companies, and receive commissions, trails, or other compensation from the respective product sponsors and/or because of effecting insurance transactions for clients.p. 22
Do they earn commissions on products, and do they say so?Brochure Sales Compensation40/100
When a firm or its people sell products for a commission, the SEC asks the brochure to say so, name the pull, and tell you whether you could buy elsewhere.
Each point is marked Covered or Not found. When a point is not found, we say what to ask.
- Does it say that earning commissions is a conflict of interest?CoveredItem 5.E.1
A firm paid to sell a product has a reason to recommend it that has nothing to do with you.
You should be aware that Reshape’s Investment Advisor Representatives acting as agents in these situations presents a conflict of interest because individuals providing investment advice on behalf of Reshape who are also insurance agents have an incentive to recommend products to you for the purpose of generating commissions, rather than solely based on your needs.p. 23
- Does it say commissions can shape what they recommend?Not found in the brochureItem 5.E.1
Naming the pull is the first step to controlling it; silence leaves it working on you.
What to askAsk how the firm keeps commissions from steering the advice you get.
- Does it say you can buy the same products elsewhere?Not found in the brochureItem 5.E.2
You may be able to buy the same product for less somewhere else.
What to askAsk whether you could buy any recommended product through another broker or insurer.
- Does it say whether commissions lower your advisory fee?Not found in the brochureItem 5.E.4
If the firm earns a commission and the full advisory fee, you pay twice for one recommendation.
What to askAsk whether any commission the firm earns is credited against your advisory fee.
Do they get free research or services from brokers, and does it affect you?Brochure Soft DollarsNot applicable
Not applicable: the brochure describes no research or services from brokers
A point not found is not a finding against the firm; many points apply only when the firm has that arrangement, and state-registered firms file the same brochure form.
Next Steps
Advisor Roster
1 advisor
| Advisor | CRD | Score | Grade |
|---|---|---|---|
| David E Kranz | 5605407 | — | — |
Preparing for a meeting?
Pick an advisor at this firm to get a prep kit with their fees, conflicts, track record, and the questions worth asking.
Monitor this firm
Get notified when something changes — new complaints, score movements, firm changes. Free.
Free: 1 advisor, monthly status report. Pro ($7/mo): up to 5, instant alerts, pending complaints.
Is this your profile?
Claim it to understand your TransparencyScore, see your level, and track changes over time.
Frequently Asked Questions
What does the TransparencyScore measure?
The TransparencyScore measures how clearly and completely an advisor or firm discloses important information in their regulatory filings — things like fees, conflicts of interest, disciplinary history, and business practices. A higher score means better disclosure quality, not better investment performance.
Where does this data come from?
All data comes from public regulatory filings: SEC Form ADV (Parts 1, 2, and 3), FINRA BrokerCheck, and the SEC's Investment Adviser Public Disclosure (IAPD) database. These are official filings that firms and advisors are legally required to submit.
Does a low score mean they're a bad advisor?
Not necessarily. A low score means the firm's public filings are less transparent — they may use vague language about fees, skip details about conflicts, or have a more complex regulatory history. Some excellent advisors work at firms with poor disclosure practices. The score measures the filing, not the person.
How often is this data updated?
Fidelon refreshes data from SEC and FINRA sources on a regular schedule. Form ADV filings are updated annually by firms (with amendments throughout the year), and BrokerCheck data is updated as events are reported. Scores are recalculated after each data refresh.
Can an advisor or firm improve their score?
Yes. Scores are based on what's in public filings. A firm that rewrites its ADV brochure in clearer language, discloses conflicts more specifically, or resolves outstanding regulatory issues will see its score improve at the next refresh. The incentive structure is intentional.
Data Sources
Scores are generated using Fidelon's published scoring methodology and reflect the quality of public disclosures, not the quality of investment advice. A firm that improves its disclosures will see its score improve. Fidelon does not provide investment advice.
Verify on SEC IAPD
Last scored: · Score version: 3.15 · CRD #330582