S is a investment adviser based in Ann Arbor, MI, that holds a 70.0/100 Fidelon TransparencyScore (th percentile), with 467 registered advisors. Score based on public SEC and FINRA filings.
S
Sigma Planning · CRD #110692
A registered investment adviser held to a fiduciary standard.
Fidelon Fact Sheet
Spc is an investment adviser in Ann Arbor, Michigan. It used to be called Sigma Planning Corporation. The firm manages investment portfolios and helps with financial planning. It charges asset-based fees and fixed fees. It does not earn commission income. The firm has regulatory disclosures on file. Its most recent regulatory action was in 2019.
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
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
- Transparent fee structure — charges advisory fees, no commissions
Things You Should Know
- 2 regulatory complaints in public regulatory filings
- $400K in regulatory fines
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
“Because you would be charged more when there are more trades in your account, Sigma and Parkland have an incentive to encourage you to trade often.”
“Sigma and Parkland receive commissions from insurance companies, mutual fund companies, and other product companies when they sell investments.”
Source: the firm’s own Form CRS — quoted directly
Regulatory Track Record
2
Disclosures
$400K
Total Fines
Regulatory Events
TransparencyScore Dimensions
Disclosure Record
Customer complaints, arbitrations, and fines. Frequency and recency matter.
80/100
Fair
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.
75/100
Fair
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.
76/100
Fair
Avg for investment adviser firms: 54 | Top 10%: 67
Enforcement History
Self-reported legal and disciplinary history from Form ADV Item 11.
85/100
Strong
Avg for investment adviser firms: 99.7 | Top 10%: 100
Next Steps
Advisor Roster
467 advisors
| Advisor | CRD | Score | Grade |
|---|---|---|---|
| Gary Lee Vogelgesang | 2436041 | — | — |
| Pamela Jean Sarney | 1001231 | — | — |
| Gregory Daresh Jasick | 4634755 | — | — |
| William Thomas Dicke | 1744226 | — | — |
| Todd Michael Shivers | 4267925 | — | — |
| Robert Andrew Weisman | 2530624 | — | — |
| Kevin Thomas Howard | 7041635 | — | — |
| Kent Robert McGinnis | 1053518 | — | — |
| Mary Jane Mar | 1302645 | — | — |
| Cathy Jane Clift | 1592937 | — | — |
Marketing Brands135 brands
Names advisors at this firm use when marketing to clients
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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: 3.8 · CRD #110692