# Stone Steps Financial, LLC

> Stone Steps Financial, LLC is an SEC-registered investment advisory firm in Encinitas, CA, registered since 2024, reporting $100 million to $500 million in regulatory assets under management in its Form ADV filing dated March 24, 2026.

- CRD: 175289
- Filed as: STONE STEPS FINANCIAL, LLC
- Also doing business as: NEW LEAF FINANCIAL GUIDANCE
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Encinitas, CA
- Filing period: October 2026
- Form ADV filing dated: March 24, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/175289
- AdvisorCensus page: https://advisorcensus.com/firm/stone-steps-financial-llc-encinitas-ca-175289

## Quick answers

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

**Where is Stone Steps Financial, LLC located?**
Stone Steps Financial, LLC's principal office is in Encinitas, CA, according to its Form ADV; the April 2026 filing also lists 4 other offices (Schedule D, Section 1.F).

**Is Stone Steps Financial, LLC registered with the SEC or a state?**
Stone Steps Financial, LLC is an SEC-registered investment advisory firm, registered since 2024. Status as filed: Approved. CRD 175289.

**How much does Stone Steps Financial, LLC manage?**
Stone Steps Financial, LLC reports $146,585,773 in regulatory assets under management in its Form ADV filing dated March 24, 2026 (100% discretionary).

**How have Stone Steps Financial, LLC's assets and staff changed since 2025?**
In the Form ADV data for Stone Steps Financial, LLC: Regulatory assets under management: $105,420,190 in the October 2025 data and $146,585,773 in the October 2026 data, up 39%. Total employees: 4 in October 2025 and 6 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Stone Steps Financial, LLC serve?**
By number of clients on Form ADV Item 5.D: individuals (other than high net worth individuals) (86); high net worth individuals (52).

**Which custodians does Stone Steps Financial, LLC use?**
Stone Steps Financial, LLC's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists Charles Schwab & Co., Inc. as a custodian holding 10% or more of its separately managed account assets.

**Does Stone Steps Financial, LLC report any disciplinary disclosures?**
Reports no disclosure items on Form ADV Item 11. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/175289

**Does Stone Steps Financial, LLC state an account minimum?**
Its Form ADV Part 2A brochure dated March 24, 2026 says: "We do not have a minimum account size requirement."

**What changed in Stone Steps Financial, LLC's recent Form ADV filings?**
In the April 2026 filing data: Regulatory assets under management went from $105,420,190 to $146,585,773 (+39%).

## From the Form ADV filing

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

### Fees and minimums (Form ADV Part 2A brochure dated March 24, 2026)

- Account minimum: None

> We do not have a minimum account size requirement.

As stated in the firm's brochure. Fees can differ by service and may be negotiable.

### Custodians (Schedule D, Section 5.K(3))
- Charles Schwab & Co., 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: $146,585,773
- Discretionary: $146,585,773
- Non-discretionary: $0

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Individuals (other than high net worth individuals) | 86 | $49,404,644 |
| High net worth individuals | 52 | $97,181,129 |

### Advisory services (Item 5.G)
- Financial planning services
- Portfolio management for individuals and/or small businesses
- Pension consulting services

### Firm details
- Registered since: 2024 (1 year)
- Employees: 6 total, 4 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: CA, MN, SD, TX
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Other offices (Schedule D, Section 1.F), as of the April 2026 filing
- Bozeman, MT
- Carlsbad, CA
- Palm Springs, CA
- Redwood Falls, MN

### Websites listed on Form ADV (Item 1.I)
- stonestepsfinancial.com
- Facebook @stonestepsfinancial
- LinkedIn @6423161
- LinkedIn @scottrfrank
- X @scott_r_frank

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2025 | $105,420,190 | 4 | March 12, 2025 |
| October 2026 | $146,585,773 | 6 | March 24, 2026 |

Regulatory assets under management: $105,420,190 in the October 2025 data and $146,585,773 in the October 2026 data, up 39%.
Total employees: 4 in October 2025 and 6 in October 2026.

## Changes in the filing (last 12 months)

### April 2026
- Regulatory assets under management went from $105,420,190 to $146,585,773 (+39%).

### March 2026
- Added the business name New Leaf Financial Guidance.
- Employees performing advisory functions went from 3 to 4.
- Added an office in Redwood Falls, MN.
- Updated its list of owners and control persons (Schedule A).

### November 2025
- Added an office in Bozeman, MT.
- Added an office in Carlsbad, CA.
- Added an office in Palm Springs, CA.

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Stone Steps Financial, LLC (CRD 175289): Form ADV filing data as of October 2026.