Logbook Financial Planning

As a registered investment adviser, the firm is subject to the fiduciary standard under the Investment Advisers Act of 1940. This means it must place client interests ahead of its own when making investment recommendations. The fiduciary duty is materially stronger than the suitability standard that governs broker-dealers, and it forms the core legal and ethical framework for fee-only RIAs like Logbook.

No. Independent RIAs of Logbook's structure almost universally use third-party qualified custodians to hold client assets. This separation of custody and advice is a critical investor protection—clients receive account statements directly from the custodian, which provides an independent record of holdings and transactions against which the adviser's performance reporting can be verified.

The firm operates on a fee-only basis, meaning its revenue comes directly from clients through advisory fees calculated as a percentage of assets under management, hourly charges, or fixed retainer fees. It does not accept commissions, trailing fees, or revenue-sharing payments from product providers—an arrangement that removes the incentive to recommend higher-cost or proprietary products that compensate the adviser.