Schaeffer Financial is a investment adviser based in Rockville, MD, that holds a 87.5/100 Fidelon TransparencyScore (th percentile), with 5 registered advisors. Score based on public SEC and FINRA filings.
Schaeffer Financial
Schaeffer Financial LLC · CRD #133697
A fee-only investment adviser with a clean regulatory record and fiduciary commitment.
Fidelon Fact Sheet
Schaeffer Financial LLC charges clients a percentage of the money it manages. The firm is an investment adviser in Rockville, Maryland. It also offers financial planning and sends out investment newsletters. Fees are billed twice a year, in June and December, and the firm states it does not negotiate its rates. The firm reports that it holds or can access client funds. Its regulatory record shows no complaints or fines.
Peer Context
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 $0 - $1,500,000 band, charged at 1.00% on the full amount.
Above $5M the rate drops to 0.65% — $17,500 less per year.
Not included above
- • Financial planning fee: negotiable fixed fee not to exceed $875 or hourly rate not to exceed $475 per hour
- • custodial fees including exchange/SEC fees, transfer taxes, service charges, wire transfer fees, margin interest, mutual fund/ETF expenses including management fees and 12b-1 fees, redemption fees, account fees, purchase fees, contingent deferred sales charges, and other sales load charges
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 |
|---|---|
| $0 - $1,500,000 | 1.00% |
| $5,000,000+ | 0.65% |
Billed semi-annually (june 30th and december 31st) in arrears
Extracted from Form ADV Part 2A brochure
Specializations
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
Conflict Audit
Our analysis identified 1 potential conflict of interest 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
“Regardless of the fee breaks we offer, the more assets in your investment portfolio, the more you will pay in fees. This presents a conflict of interest because it creates an incentive for us to encourage you to increase the amount of assets in your investment portfolio.”
“Because some of our financial professionals and staff members are registered representatives and insurance agents for unaffiliated companies, this creates an incentive for them to recommend products and services based on the commissions and fees they may earn.”
Source: the firm’s own Form CRS — 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.
81/100
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.
80/100
Strong
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
Next Steps
Advisor Roster
5 advisors
| Advisor | CRD | Score | Grade |
|---|---|---|---|
| Kaitlin Yardley | 5336245 | — | — |
| Karen Patricia Schaeffer | 705691 | — | — |
| Claire Ramzy Dwyer | 6570914 | — | — |
| Brandon Keehr | 7569252 | — | — |
| Richard Wayne Schaeffer | 1202659 | — | — |
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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: 3.9 · CRD #133697