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Fortress Planning GroupClient BrochureThis brochure provides information about the qualification andbusiness practices of Fortress Planning Group, LLC. If you haveany questions about the contents of this brochure, please contactus at (262) 264-5838 or scott@fortressplanninggroup.com. Theinformation in this brochure has not been approved or verified bythe United States Securities and Exchange Commission or by anystate authority.Additional information about Fortress Planning Group, LLC is alsoavailable on the SECs website at:www.adviserinfo.sec.govN27W23953 Paul RdSuite 103Pewaukee, WI www.fortressplanninggroup.comMarch 23, 20211 Page
Item 2: Material ChangesThe material changes in this brochure from the last annual updating amendmentof Fortress Planning Group, LLC on March 9, 2020 are described below. No changes.2 Page
Item 3: Table of ContentsTable of ContentsItem 2: Material Changes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .2Item 3: Table of Contents . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .3Item 4: Advisory Business . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .4Item 5: Fees and Compensation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .6Item 6: Performance-Based Fees and Side-By-Side Management . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .9Item 7: Types of Clients . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .9Item 8: Methods of Analysis, Investment Strategies, and Risk of Investment Loss . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .9Item 9: Disciplinary Information . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .11Item 10: Other Financial Industry Activities and Affiliations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .11Item 11: Code of Ethics, Participation or Interest in Client Transactions and Personal Trading . . . . . . . . . . . . . . . . . . . . . . . . . .12Item 12: Brokerage Practices . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13Item 13 Reviews of Accounts . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .14Item 14: Client Referrals and Other Compensation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .14Item 15: Custody . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14Item 16: Investment Discretion . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15Item 17: Voting Client Securities (Proxy Voting) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15Item 18: Financial Information . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .16Item 19: Requirements for State Registered Advisers . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 163 Page
Item 4: Advisory BusinessDescription of the Advisory FirmFortress Planning Group, LLC (Fortress Planning Group) is a registered investmentadvisor based in Pewaukee, WI. We are organized as a limited liability companyunder the laws of the state of Wisconsin. We have been providing wealthmanagement services since 2011. Scott Wellens, CFP is the founding memberand co-owner. Kevin Sandieson is also co-owner. For information purposes, aregistered investment adviser does not imply a certain level of skill or training.Our firm is an investment management firm. The firm's compensation is solelyfrom asset under management fees paid directly by clients. The firm does notearn commissions from the sale of annuities, insurance, stocks, bonds, mutualfunds, limited partnerships, or other commissioned products. No commissions inany form are accepted. No finder’s fees are accepted. In addition, the firm doescharge for stand-alone financial plans when there is not an assets undermanagement arrangement.Fortress Planning Group focuses on a comprehensive consultative approach towealth management. We believe that strong, trusting relationships with ourclients will have a substantial positive impact in reaching their goals and dreams.To achieve this holistic approach, we use a four-step wealth managementconsulting process to begin the fostering of this relationship.Step 1 - Discovery Meeting - We begin to develop a total client profileduring this initial meeting. We learn about the client’s values, interests,goals, assets, risk capacity, relationships, and dreams.Step 2 - Planning Meeting - We present a detailed, actionable investmentplan that will serve as a roadmap that maximizes the probability ofachieving everything that is financially important to the client. Please referto the "Methods of Analysis, Investment Strategies and Risk of Loss" section(Item 8) of this brochure for additional information.4 Page
Step 3 - Commitment Meeting - We mutually agree that this plan is in bestinterest of supporting client’s goals and values. We use this time to assistclient in executing the documents necessary to implement investment plan.Step 4 - Quarterly Meetings - We review client progress towards goals andvalues, assess risk tolerance with regards to any change in age andcircumstance, and solution solve new goals. We also use these quarterlymeetings to build a comprehensive wealth plan that includes wealthenhancement, wealth transfer, wealth protection and charitable giving.In order to serve clients who are just starting to invest and build wealth, FortressPlanning Group offers a getting started investment platform called “FoundationsInvestment Platform” for individuals with a minimum initial investment of 25,000 and/or 400 per month to invest. After an initial discovery consultation,clients complete a risk questionnaire to determine their risk tolerance. Uponcompletion of the risk questionnaire, a Planning and Commitment meeting isconducted to review the results of the risk questionnaire, discuss a recommendedportfolio, and gain commitment to proceed with account opening. On an annualbasis, a virtual meeting will be conducted with the client to review investmentperformance as well as important developments that may impact a client’sfinancial situation or change their tolerance to risk.Types of InvestmentsWe primarily recommend index funds; however, we may also offer advice onequity securities, corporate debt, securities, municipal debt securities, mutualfunds, exchange traded funds, variable annuities, variable life insurance, and U.S.Government securities. We may also provide advice on any type of investmentheld in your portfolio at the inception of our advisory relationship.Clients may also impose restrictions in investing in certain securities or types ofsecurities in accordance with their values or beliefs. However, if the restrictionsprevent us from properly servicing the client accounts, or if the restrictions wouldrequire us to deviate from its standard suite of services, we reserve the right toend the relationship. Fortress Planning Group does not participate in wrap fee5 Page
programs. As of March 23, 2021, we have approximately 53,155,057 assetsunder management. These assets are managed on a discretionary basis.Item 5: Fees and CompensationInvestment Supervisory Services FeesComprehensive Wealth Management PlanOur fee for investment advisory services is based on a percentage of your assetswe manage and is set forth in the following fee schedule:Total Assets Under ManagementFirst 1,000,000Next 1,000,000Next 5,000,000Next 10,000,000 ( )Annual Fee0.95%0.75%0.50%0.25%We have a 3000 minimum annual fee requirement ( 750 billed quarterly).Accounts that fall below 315,800 in portfolio value will be subject to thisminimum annual fee.Our annual investment advisory fees are billed quarterly and payable threemonths in advance. The fee is based upon the value of the assets held in theaccount on the last trading day of the month immediately prior to the threemonth period. You will not be billed until you have signed our client agreementand completed the account opening/transfer process. Our advisory fee isnegotiable. We will deduct our fee directly from your account through thequalified custodian holding your funds and securities. The qualified custodian willdeliver an account statement to you at least quarterly showing all disbursementsfrom your account. Refunds are given on a prorated basis, based on the numberof days remaining in the three-month billing cycle at the point of written6 Page
termination. Clients may terminate their contracts without penalty, for fullrefund, within 5 business days of signing the advisory contract. We will send anitemized fee invoice to you at the same time that the fee is deducted from youraccount. Please compare the invoice to your account statement for accuracy andcontact us if there are any questions.Comprehensive Financial PlanWe can prepare just a financial plan. If you are not interested in our investmentmanagement services and only want to engage us to prepare a financial plan, youhave two options depending on your needs: a coordinated plan – a mutuallydefined review of multiple areas of personal financial; or, a targeted plan – areview, analysis, and evaluation of a single core area of personal finance.Coordinated financial planning services are offered for a flat project fee not toexceed 10,000 for the initial engagement. The coordinated planning fee will befully disclosed in a Financial Planning Agreement before the planning processbegins. The Agreement will include the cost to review your financial informationand prepare the coordinated financial plan. We will require full payment of thecoordinated planning fee up-front at the time the Agreement is signed. If youdesire only targeted planning – review, analysis and evaluation of a core area offinancial need – the fee will be billed at our hourly rate not to exceed 325. Allfees will be completely itemized in a billing statement to you, or as otherwisepredetermined in a proposal, engagement letter and/or by retainer.Foundations Investment PlatformOur fee for investment advisory services for the Foundations Investment Platformis based on a percentage of your assets we manage and is set forth in thefollowing fee schedule:Total Assets Under ManagementFirst 1,000,000Next 1,000,000Next 5,000,000Next 10,000,000 ( )7 PageAnnual Fee0.95%0.75%0.50%0.25%
Our annual investment advisory fees are billed quarterly and payable threemonths in advance. The fee is based upon the value of the assets held in theaccount on the last trading day of the month immediately prior to the threemonth period. You will not be billed until you have signed our client agreementand completed the account opening/transfer process. Our advisory fee for theFoundations Investment Platform is not negotiable. We will deduct our feedirectly from your account through the qualified custodian holding your funds andsecurities. The qualified custodian will deliver an account statement to you atleast quarterly showing all disbursements from your account. Refunds are givenon a prorated basis, based on the number of days remaining in the three-monthbilling cycle at the point of written termination. Clients may terminate theircontracts without penalty, for full refund, within 5 business days of signing theadvisory contract. We will send an itemized fee invoice to you at the same timethat the fee is deducted from your account. Please compare the invoice to youraccount statement for accuracy and contact us if there are any questions.In addition to the investment advisory services fee, the Foundations InvestmentPlatform charges a one-time client account set up fee of 250 and an annualaccount fee of 75. The account set up fee is invoiced directly to the client withpayment due before the initial account set up is completed at TD AmeritradeInstitutional or can be billed with the first quarterly investment advisory servicesfee. The annual account fee of 75 is billed annually in January of each year andwill be added to the January quarterly investment advisory services fee. Theannual account fee will be prorated for the calendar year of which the account isopened and will be billed with the first quarterly investment advisory services fee.Additional Fees and ExpensesThe fees that you pay to us for investment advisory services are separate anddistinct from the fees and expenses charged by mutual funds to theirshareholders. These funds are described in each fund's prospectus. You will incurtransaction and/or brokerage fees when we purchase or sell index funds or othersecurities in your account. You may also pay other custodial fees. Please see yourcustodian account agreement for details. We do not share in any fees charged by8 Page
the broker-dealer or custodian. Please refer to the "Brokerage Practices" section(Item 12) of this brochure for additional information.Item 6: Performance-Based Fees and Side-By-Side ManagementFortress Planning Group does not accept performance-based fees or participate inside-by-side management. Side-by-side management refers to the practice ofmanaging accounts that are charged performance-based fees while at the sametime managing accounts that are not charged performance-based fees.Performance based fees are fees that are based on a share of capital appreciationof the client’s account.Item 7: Types of ClientsFortress Planning Group provides advisory services and planning to individualsand high net-worth individuals.Item 8: Methods of Analysis, Investment Strategies, and Risk ofInvestment LossMethods of Analysis and Investment StrategiesFortress Planning Group does not participate in actively managed mutual fundsand market timing. We view these activities as speculations rather than investing.We believe that utilizing these strategies make it near impossible to capturemarket returns over the long run. Instead, we utilize passively managed indexfunds over multiple asset classes to capture global market returns given theclients risk exposure. These asset classes include US Large and small blend and9 Page
value, international large and small blend and value, and emerging markets. Werely on Nobel Prize winning strategies, empirical studies, and data sets rangingover an 80-year period. We also recommend passively managed real estateinvestment trusts (REITS) and short-term fixed income to further diversify theclient’s portfolio. Many academics have earned Nobel Prizes for their researchand explanation of how stock markets work. We use the findings of the followingindividuals to help shape the construction of our client portfolios.Paul A. Samualson (Nobel Laureate) - Markets Behave RandomlyWilliam F. Sharpe (Nobel Laureate) - Capital Asset Pricing ModelHarry Markowitz (Nobel Laureate) - Efficient DiversificationEugene F. Fama (Nobel Laureate) - Market EfficiencyKenneth R. French (Dartmouth University) - Risk FactorsWe apply the tenants of Modern Portfolio Theory, which in part, states that riskmust be considered as well as return. We understand and utilize efficientdiversification which means that we will search for the highest expected returnfor any level of portfolio risk. We also use the findings of Eugene F. Fama andKenneth R. French who together identified three risk factors associated with stockmarket returns which are market, size and value. We apply these findings and tiltour clients’ portfolios towards value and small index funds. However, weconsider each client's investment objectives, financial situation, constraints andrisk tolerance in building a portfolio and can adjust accordingly.Based on all our academic research, we believe that Dimensional Fund Advisorsstand out as the fund company that best utilizes the traits described above,therefore, this is the company our firm primarily uses to construct our passivelymanaged index portfolios.Risk of Investment LossInvesting in securities involves a risk of loss that you, as a client, should beprepared to bear. Material risks associated with our passive strategy includesystematic risk. Systematic risk is also known as market risk and relates to factorsthat affect the overall economy or securities markets. Systematic risk affects all10 P a g e
companies, regardless of the company's financial condition, management, orcapital structure, and, depending on the investment, can involve international aswell as domestic factors. Nonsystematic risk, in contrast to systematic risk,affects a much smaller number of companies or investments and is associatedwith investing in a particular product, company, or industry sector. Investing inpassively managed index funds works to avoid nonsystematic risk. Although indexstrategies seek to limit tracking error, it does still occur. In finance, tracking erroris a measure of how closely a portfolio follows the index to which it isbenchmarked. Passively managed index mutual funds lag the actual index theyare trying to mirror. Also, investing in passively managed funds that are morevalue or small in orientation may cause your portfolio to experience a higher levelof volatility.Item 9: Disciplinary InformationLike other registered investment advisors, Fortress Planning Group is required todisclose all material facts regarding any legal or disciplinary events that wouldmaterially impact a client's evaluation of our firm. No events have occurred atFortress Planning Group that is applicable to this item.Item 10: Other Financial Industry Activities and AffiliationsNeither Fortress Planning Group, nor its representatives are registered as abroker/dealer or as a representative of a broker dealer. Neither Fortress PlanningGroup nor its representatives are registered as a futures commission merchant,commodity pool operator, a commodity trading advisor, or an associated personof the foregoing entities.11 P a g e
Item 11: Code of Ethics, Participation or Interest in Client Transactions andPersonal TradingCode of EthicsOur firm has adopted a Code of Ethics that sets forth high ethical standards ofbusiness conduct that we require of our employees, including compliance withapplicable federal securities laws. We owe a duty of loyalty, fairness, and goodfaith towards our clients. We are Fiduciaries and have a legal obligation to putclients' interests ahead of our own. The Fortress Planning Group written Code ofEthics covers the following areas: Compliance Procedures, Compliance with Lawsand Regulations, Prohibited Purchases and Sales, Insider Trading, ProhibitedActivities, Conflicts of Interest, Political and Charitable Contributions, Gifts andEntertainment, Service on Board of Directors, Confidentiality, Personal SecuritiesReporting and Monitoring, Certification of Compliance, Reporting Violations andWhistleblower Provisions, Compliance Officer Duties, Training and Education,Recordkeeping, Annual Review, and Sanctions. Clients may request a copy of ourCode of Ethics from management.Participation or Interest in Client TransactionsNeither Fortress Planning Group nor any related person has any material financialinterests in the securities recommended to clients.Personal TradingOur firm or persons associated with our firm may buy or sell the same securitiesthat we recommend to you or securities in which you are already invested. Toeliminate this potential conflict of interest, it is our policy that neither ourassociated persons nor we shall have priority over your account in the purchaseor sale of securities. In the case of mutual funds, which are our primaryinvestment recommendation, effecting transactions in mutual fundsrecommended to you cannot conflict with our interest in the same funds becauseopen-ended mutual funds are purchased or redeemed at a fixed net asset value12 P a g e
price per share specific to the date of the purchase or redemption. Because ofthis, our personal transactions in mutual funds will not have an impact on theprices of the fund shares in which you invest.Item 12: Brokerage PracticesThe custodian used by Fortress Planning Group is TD Ameritrade Institutional, Inc.We believe that commissions charged by this custodian are among the lowestavailable in the industry. We also consider the quality of the brokerage servicesprovided, the firms' reputation, execution capabilities, commission rates, andresponsiveness to our clients and our firm. In addition, TD AmeritradeInstitutional, Inc. is an approved custodian for Dimensional Fund Advisors, whichis what Fortress Planning Group uses as its main mutual fund family. We willnever charge a premium or commission on transactions, beyond the actual costimposed by the Custodian.Research and Other Soft Dollar BenefitsFortress Planning Group receives no research or other products or services otherthan execution from a broker-dealer or third party in connection with clientsecurities transactions ("soft dollar benefits").Brokerage for Client ReferralsFortress Planning Group receives no referrals from a broker-dealer or third partyin exchange for using that broker-dealer or third party.Directed BrokerageFortress Planning Group will not allow clients to direct us to use a specific brokerdealer to execute transactions. We also do not combine multiple orders forshares of the same securities purchased for advisory accounts we manage. Thispractice is commonly referred to as "block trading". Because we use a passiveindex strategy, block trading does not apply.13 P a g e
Item 13: Reviews of AccountsReview of accounts is done at least quarterly by your Investment Advisor atFortress Planning Group, to determine if the current investment holdings of theaccount are consistent with the client's investment objectives. Additional reviewsmay take place based on the various circumstances. Examples of suchcircumstances may be a change in contributions or withdrawals, or changes inyour risk/return objectives or your risk capacity. Each client will receive a writtenquarterly statement reflecting portfolio value, portfolio holdings and rate ofreturn. We will also send quarterly itemized fee invoices. Clients should comparetheir invoices to the account statements for accuracy. You will also receive tradeconfirmations, monthly or quarterly statements, and year-end tax statementsfrom your account custodian, TD Ameritrade Institutional, Inc.Item 14: Client Referrals and Other CompensationIt is our policy not to engage solicitors or to pay related or non-related persons forreferring potential clients to our firm. Furthermore, it is our policy not to acceptor allow our related persons to accept any form of compensation, including cash,sales awards or other prizes, from a non-client in conjunction with the advisoryservices we provide to our clients.Item 15: CustodyFortress Planning Group does not take possession of client money or securities,although we do have authority to deduct advisory fees from client accounts whichcauses our firm to exercise limited custody over your funds. Your funds will beheld at TD Ameritrade Institutional, Inc. You will receive account statements from14 P a g e
this custodian at least quarterly. The account statements from your custodian willindicate the amount of our advisory fees deducted from your account each billingperiod. You should carefully review account statements for accuracy. If you havea question regarding your account statement or if you did not receive a statementfrom your custodian, please contact Fortress Planning Group directly. FortressPlanning Group will also send quarterly itemized fee invoices. Clients shouldcompare their invoices to the account statements for accuracy.Item 16: Investment DiscretionFortress Planning Group will direct, in their sole discretion, without consulting theclient and without the client's prior approval, the investment and reinvestment ofany or all assets held in the client's account in securities, cash or cash equivalents.The client's financial circumstances, investment objectives and specialinstructions or limitation that the client imposes will be communicated to us uponinitiation of the relationship.Before we can buy or sell securities on your behalf, you must first sign ourdiscretionary client agreement. This will allow us to place trades in your accountwithout contacting you prior to each trade to obtain your permission. Thisinvestment discretion will let us determine the security to buy or sell and/ordetermine the amount of the security to buy or sell. You may limit this authorityby giving us written instructions. You may also change/amend such limitations byonce again providing us with written instruction.Item 17: Voting Client Securities (Proxy Voting)We do not vote individual company proxies on your behalf. If you own shares ofcommon stock or mutual funds, you are responsible for exercising your right to15 P a g e
vote as a shareholder. You should receive proxy material directly from the issuerof security or the custodian.Item 18: Financial InformationAs an advisory firm that maintains discretionary authority for client accounts, weare also required to disclose any financial condition that is reasonably likely toimpair our ability to meet our contractual commitments to clients. We have noadditional financial circumstances to report.We do not require nor solicit prepayment of more than 500 in fees per client, sixmonths or more in advance and therefore do not need to include a balance sheetwith this brochure.We have not been the subject of bankruptcy petition at any time, including thepast 10 years.Item 19: Requirements for State Registered AdvisersExecutive Officers and Management Persons:Fortress Planning Group has two management persons/executive officers; ScottWellens, CFP and Kevin Sandieson, MBA. Scott Wellens’ and Kevin Sandieson’seducation, business background and other business activities can be found on theSupplemental ADV Part 2B form.16 P a g e
Fortress Planning Group, LLC (Fortress Planning Group) is a registered investment advisor based in Pewaukee, WI. We are organized as a limited liability company under the laws of the state of Wisconsin. We have been providing wealth management services since 2011 . Scott Wellens, CFP is the founding member and co-owner.
