Stewardright is a investment adviser based in Wichita, KS, that holds a 77.7/100 Fidelon TransparencyScore (4th percentile among state-registered advisers), with 3 registered advisors. Score based on public SEC and FINRA filings.
Stewardright
Stewardright · CRD #287644
A registered investment adviser with a clean regulatory record.
Fidelon Fact Sheet
Stewardright is a state-registered investment adviser in Wichita, KS. It used to be called Leading Edge Financial Planning, LLC. It has 3 registered advisors. It manages $69.7 million across 557 client accounts. It charges a yearly percentage of your account that gets smaller as the account grows, and it can also earn commissions when it sells you a product. Its services include financial planning, portfolio management and investment newsletters. Its record shows no customer complaints, regulatory actions or fines.
Peer Context
15,167th of 15,825
state-registered advisers
Bottom 4%
138th of 147
state-registered advisers in KS
Bottom 6%
12th of 13
state-registered advisers in Wichita, KS
Bottom 8%
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
- Can earn money selling products alongside advice — the product company pays that, so it never appears on an advisory invoice
What you’d pay
Blended across 1 tiers, from $500,001 - $1,000,000.
This fee is negotiable
“StewardRight fees are negotiable and may vary from the firm’s published fee schedule.”
From their Form ADV Part 2A. Most investors never ask.
Not included above
- • StewardRight’s advisory fee does not include any applicable taxes
- • confirmation fees for trades
- • custodial or platform fees
- • brokerage commissions
- • transaction fees
- • charges imposed directly by a mutual fund, index fund, or exchange traded fund (as disclosed on the fund’s prospectus)
- • fees imposed by variable annuity providers (as disclosed in the annuity contract)
- • certain deferred sales charges
- • oddlot differentials
- • transfer taxes
- • wire transfer and electronic fund fees, as well as other fees imposed upon brokerage accounts and securities transactions. SEI charges an account fee on accounts with balances of $1,000.00 to $50,000.00 at a rate of $15.00 per quarter.
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 - $500,000 | 1.75% |
| $500,001 - $1,000,000 | 1.50% |
| $1,000,001 and above | 1.25% |
Billed in arrears shortly after the end of each quarter of service based on the portfolio market value at the end of the quarter of service or in arrears shortly after the end of each month of service based on the portfolio’s average daily market and/or contract value over the course of the month of service
Extracted from Form ADV Part 2A brochure
Specializations
Extracted from Form ADV Part 2A brochure
Key Findings
Strengths
- Registered as investment adviser with fiduciary obligation
- Clean regulatory record — no disclosures, arbitrations, or fines
Things You Should Know
- Its brochure says some of its people can earn insurance commissions, but it does not say you can buy the same products elsewhere or commissions can shape what they recommend. Ask whether you could buy any recommended product through another broker or insurer.Item 5.E
- Its brochure names research or services received from a custodian or broker (soft dollars) as a conflict, but it does not explain what this arrangement tempts the firm to do, say what the firm is paid for it, or say what it can cost you. Ask what the firm receives from the custodian or broker it uses for you, and whether that costs you anything.Items 10, 11, 12.B and 14
Conflict Audit
Our analysis identified 2 potential conflicts of interest in regulatory filings.
Source: Form ADV Part 1, Items 6-8; Part 2A, Items 10-14
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.
88/100
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.
57/100
Weak
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?
Not required
This firm is not required to file a Form CRS.
Without a Form CRS, the score above cannot go over 90. A firm that gives us one is scored on the same yardstick and can earn up to 10 more points.
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 Clarity75/100
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.
Each point is marked Covered or Not found. When a point is not found, we say what to ask.
- Can you tell what you'd pay?Not found in the brochureItem 5.A
Without a fee schedule you cannot compare this firm with any other.
What to askAsk for the fee schedule in writing, including what you would pay at your account size.
- 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.
StewardRight fees are negotiable and may vary from the firm’s published fee schedule.p. 10
- 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.
StewardRight generally deducts fees directly from client accounts but in some instances will allow clients to pay the fee quarterly directly.p. 11
- 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.
Dependent on the fee schedule(s) selected in the Portfolio Management Agreement, fees are charged either a) in arrears shortly after the end of each quarter of service based on the portfolio market value at the end of the quarter of service or b) in arrears shortly after the end of each month of servicep. 10
- 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.
StewardRight’s advisory fee does not include any applicable taxes; confirmation fees for trades; custodial or platform fees; brokerage commissions; transaction fees; charges imposed directly by a mutual fund, index fund, or exchange traded fundp. 12
- 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, fees will be prorated and unearned fees paid in advance (if any) will be refunded based on the number of days services were provided.p. 13
Does it explain each conflict of interest and what it could cost you?Brochure Conflict Specificity55/100
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 gets research or services from a custodian or broker, does it explain them?
Research or services received from a custodian or broker (soft dollars)
- 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.
SEI and Schwab provide products and services to StewardRight that benefit it but may not directly benefit its clients.p. 19
- 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?CoveredStaff Bulletin Q11
Benefits that are not cash, like free services or referrals, still shape advice.
StewardRight’s receipt of these benefits creates a conflict of interest because it relieves the firm from paying for these items or producing them itself.p. 19
- 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 what the firm receives from the custodian or broker it uses for you, and whether that costs you anything.
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
Some StewardRight investment advisor representatives are appointed as agents of certain insurance companies and may recommend the purchase of insurance products, such as fixed or variable annuities, for individuals or entities who are also clients of StewardRight.p. 17
Do they earn commissions on products, and do they say so?Brochure Sales Compensation47/100
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.
In certain situations, StewardRight’s investment advisor representatives may also be insurance licensed and earn sales commission, which creates a conflict of interest.p. 12
- 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?Does not applyItem 5.E.4
If the firm earns a commission and the full advisory fee, you pay twice for one recommendation.
Do they get free research or services from brokers, and does it affect you?Brochure Soft Dollars71/100
When brokers give the firm research or services in return for your trades, the SEC asks the brochure to say what the firm gets and what it may cost you.
Each point is marked Covered or Not found. When a point is not found, we say what to ask.
- Does it list what the firm gets from brokers for free?CoveredItem 12.A.1.e
Research, software and data paid for by your trades are a cost you never see.
In addition to investment research, these custodians offer StewardRight software and other technologies that provide access to client account data, facilitate trade execution for multiple client accounts, provide pricing and other market datap. 19
- Does it say the firm benefits by not paying for those things?CoveredItem 12.A.1.a
A perk the firm would otherwise buy is money in the firm's pocket, paid with your trades.
StewardRight’s receipt of these benefits creates a conflict of interest because it relieves the firm from paying for these items or producing them itself.p. 19
- Does it say those perks can shape which broker it picks for you?CoveredItem 12.A.1.b
Your trades should go where you get the best deal, not where the firm gets the best perks.
As a result, the receipt of these benefits makes it more likely that StewardRight will recommend SEI or Schwab as the custodian for its clients’ accounts instead of searching for the custodian that would provide the most favorable execution for each transaction in a client’s account.p. 19
- Does it say whether those perks stay within what the law allows?Not found in the brochureItem 12.A.1.e note
The law allows research paid for with client trades only within limits; outside them, it is your money.
What to askAsk whether everything the firm receives from brokers is research the law lets it take in return for your trades.
- Does it say whether you pay more in trading costs because of those perks?Does not applyItem 12.A.1.c
Paying up for trades to earn the firm a perk comes straight out of your returns.
- Does it say whether every client benefits or only some?Not found in the brochureItem 12.A.1.d
Your trades may be paying for research that helps other clients' accounts, not yours.
What to askAsk whether the research your trades help pay for is used for your account.
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
3 advisors
| Advisor | CRD | Score | Grade |
|---|---|---|---|
| Lyndon Jon Zielke | 7121741 | — | — |
| Bryan James Looper | 7231131 | — | — |
| Michael Stephan Proctor | 5748341 | — | — |
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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: 3.15 · CRD #287644