# KCD Financial, Inc.

> KCD Financial, Inc. is an SEC-registered investment advisory firm in Green Bay, WI, registered since 2017, reporting $100 million to $500 million in regulatory assets under management in its Form ADV filing dated August 11, 2026.

- CRD: 127473
- Filed as: KCD FINANCIAL, INC.
- Also doing business as: AVR FINANCIAL LLC, BAYSIDE WEALTH MANAGEMENT LLC, BENEFITS PLUS, BORDE & ASSOCIATES PA, DDG WEALTH CONSULTANTS, FESS FINANCIAL, FIRST PLAN FINANCIAL SERVICES, LLC, GUIDED FINANCIAL ADVISORS, H & B FINANCIAL GROUP, INC., HERITAGE BENEFITS, HOFFMAN FINANCIAL, MACHTAN FINANCIAL SERVICES GROUP, OAK BROOK BENEFIT RESOURCES, PAPPAS WEALTH MANAGEMENT, STRATEGIC ALLIANCE INVESTMENT ADVISORS, INC., THE STEFFEN INVESTMENT CO., INC., THE WILLIAMS FINANCIAL GROUP
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Green Bay, WI
- Filing period: October 2026
- Form ADV filing dated: August 11, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/127473
- AdvisorCensus page: https://advisorcensus.com/firm/kcd-financial-inc-green-bay-wi-127473

## Quick answers

**How is KCD Financial, Inc. compensated?**
On its Form ADV (Item 5.E, October 2026), KCD Financial, Inc. reports these compensation arrangements: a percentage of assets under its management; hourly charges; fixed fees (other than subscription fees); other.

**Where is KCD Financial, Inc. located?**
KCD Financial, Inc.'s principal office is in Green Bay, WI, according to its Form ADV; the September 2026 filing also lists 12 other offices (Schedule D, Section 1.F).

**Is KCD Financial, Inc. registered with the SEC or a state?**
KCD Financial, Inc. is an SEC-registered investment advisory firm, registered since 2017. Status as filed: Approved. CRD 127473.

**How much does KCD Financial, Inc. manage?**
KCD Financial, Inc. reports $202,092,404 in regulatory assets under management in its Form ADV filing dated August 11, 2026 (100% discretionary).

**How have KCD Financial, Inc.'s assets and staff changed since 2021?**
In the Form ADV data for KCD Financial, Inc.: Regulatory assets under management: $121,470,000 in the October 2021 data and $202,092,404 in the October 2026 data, up 66%. Total employees: 55 in October 2021 and 29 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does KCD Financial, Inc. serve?**
By number of clients on Form ADV Item 5.D: individuals (other than high net worth individuals) (1,235); high net worth individuals (22).

**Which custodians does KCD Financial, Inc. use?**
KCD Financial, Inc.'s most recent Form ADV filing (Schedule D, Section 5.K(3)) lists Freedom Investment Management, Hilltop Securities Inc., SEI and Trade-PMR Inc. as custodians holding 10% or more of its separately managed account assets.

**Does KCD Financial, Inc. report any disciplinary disclosures?**
Reports 4 disclosure items on Form ADV Item 11: yes answers to 11.D(2) (another regulator's finding of a violation), 11.E(2) (self-regulatory organization's finding of a rule violation), 11.E(4) (self-regulatory organization's expulsion, suspension, bar, or restriction), and 11.G (pending regulatory proceeding). Each question covers the firm and its advisory affiliates, and one event can produce several yes answers. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/127473

**What changed in KCD Financial, Inc.'s recent Form ADV filings?**
In the September 2026 filing data: Registered or notice-filed in AR, UT.

## From the Form ADV filing

### Compensation (Item 5.E)
- A percentage of assets under your management
- Hourly charges
- Fixed fees (other than subscription fees)
- Other

### Custodians (Schedule D, Section 5.K(3))
- Freedom Investment Management
- Hilltop Securities Inc.
- SEI
- Trade-PMR Inc.

Custodians holding 10% or more of the firm's separately managed account assets, as filed on Form ADV (Schedule D, Section 5.K(3)). A custodian holds client assets; it does not endorse or supervise the firm. AdvisorCensus has no relationship with any custodian.

### Regulatory assets under management (Item 5.F)
- Total: $202,092,404
- Discretionary: $202,092,404
- Non-discretionary: $0

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Individuals (other than high net worth individuals) | 1,235 | $138,105,625 |
| High net worth individuals | 22 | $63,986,779 |
| Pension and profit sharing plans (but not the plan participants or government pension plans) | Fewer than 5 | Not reported |
| Charitable organizations | Fewer than 5 | Not reported |

### Advisory services (Item 5.G)
- Financial planning services
- Portfolio management for individuals and/or small businesses
- Selection of other advisers (including private fund managers)

### Firm details
- Registered since: 2017 (9 years)
- Employees: 29 total, 27 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: AL, AR, AZ, CA, CO, CT, FL, GA, ID, IL, IN, KY, LA, MA, MD, ME, MI, MN, MO, NC, NJ, NM, NV, NY, OH, OR, PA, SC, TN, TX, UT, VA, WA, WI, WV, WY
- Disclosures (Item 11): Reports 4 disclosure items on Form ADV Item 11.

### Item 11 questions answered yes
- 11.D(2): Has another federal regulator, a state regulator, or a foreign financial regulator ever found that the firm or an advisory affiliate was involved in a violation of investment-related regulations or statutes?
- 11.E(2): Has a self-regulatory organization or a commodities exchange ever found that the firm or an advisory affiliate was involved in a violation of its rules, other than a minor rule violation under a plan the SEC approved?
- 11.E(4): Has a self-regulatory organization or a commodities exchange ever disciplined the firm or an advisory affiliate by expelling or suspending it from membership, barring or suspending it from association with other members, or otherwise restricting its activities?
- 11.G: Is the firm or an advisory affiliate now the subject of a regulatory proceeding that could result in a yes answer to any part of 11.C, 11.D, or 11.E?

Each question covers the firm and its advisory affiliates: its current employees other than clerical staff, its officers, partners, and directors, and anyone who controls the firm or is controlled by it. One event can produce yes answers to several questions. SEC-registered advisers and exempt reporting advisers may leave out events more than ten years old, and may answer 11.A(2) and 11.B(2) for pending charges only. The detail of each yes answer is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/127473

### Other offices (Schedule D, Section 1.F), as of the September 2026 filing
- Bellevue, WA
- Bingham Farms, MI
- Columbia, MD
- Frisco, TX
- Melbourne, FL
- Minnetonka, MN
- St.petersburgh, FL
- Stratford, CT
- Sun City, AZ
- Waukesha, WI
- West Palm Beach, FL
- Willowbrook, IL

### Websites listed on Form ADV (Item 1.I)
- kcdfinancial.com

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $121,470,000 | 55 | August 17, 2021 |
| October 2022 | $130,362,000 | 50 | April 28, 2022 |
| October 2023 | $123,844,687 | 50 | August 18, 2023 |
| October 2024 | $175,100,000 | 46 | May 2, 2024 |
| October 2025 | $182,585,838 | 28 | July 11, 2025 |
| October 2026 | $202,092,404 | 29 | August 11, 2026 |

Regulatory assets under management: $121,470,000 in the October 2021 data and $202,092,404 in the October 2026 data, up 66%.
Total employees: 55 in October 2021 and 29 in October 2026.

## Changes in the filing (last 12 months)

### September 2026
- Registered or notice-filed in AR, UT.

### August 2026
- Registered or notice-filed in ME.

### June 2026
- Registered or notice-filed in AL.

### April 2026
- Added the business name Hoffman Financial.
- Regulatory assets under management went from $182,585,838 to $202,092,404 (+11%).
- Registered or notice-filed in OR.

### March 2026
- Registered or notice-filed in NJ, NM, NV.

### February 2026
- Registered or notice-filed in GA, IN, MO, NY, PA.

### January 2026
- No longer registered or notice-filed in GA, IA, MO, NY, PA.

### December 2025
- Registered or notice-filed in SC, WV.

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. KCD Financial, Inc. (CRD 127473): Form ADV filing data as of October 2026.