What Strategic Financial Solutions does

Strategic Financial Solutions (SFS) is an independent registered investment advisory firm founded in 2003 by Larry Witzel in Cedar Rapids, Iowa. The firm delivers two primary service lines to clients in the Iowa Corridor region: individual wealth management (financial planning, retirement income planning, estate strategies, charitable giving, long-term care planning, and insurance) and corporate retirement plan services (401(k) advisory with 3(21) and 3(38) fiduciary support, defined benefit and cash balance plan management, ESOP administration, non-qualified executive benefits, business succession planning, and employee financial education). SFS also offers an online suite of financial calculators as a top-of-funnel engagement tool.

SFS operates on a hybrid revenue model: fee-based advisory fees billed annually as the primary recurring stream, broker-dealer transaction and managed-account revenue through its 2022-affiliated partner Commonwealth Financial Network, and separate commissions on fixed insurance products. Technology is delivered through third-party platforms provided by Commonwealth (Investor360, eMoney, MoneyGuidePro, RightCapital, WealthScape, AssetMark, Employee Navigator) rather than proprietary IP, and the firm leans on multi-channel marketing — KCRG-TV earned media, blog and video content, market newsletters, and community involvement — to drive referrals and brand awareness.

The firm is led by Founder & President Larry Witzel and Partner & Vice President of Retirement Services Bert McClintock, supported by a COO, a Director of Client Experience, a Director of Retirement Plan Services, roughly six additional financial advisors and an executive retirement specialist, plus client service associates. SFS has won Corridor Business Journal "Coolest Places to Work" awards repeatedly (2017-2024, including "Coolest of the Cool" in 2022) and was recognized by NAPA in 2025 among top defined contribution advisor teams with over $100 million in assets under advisement. The firm has no disclosed funding, no subsidiaries, and no M&A activity in the source material.

Name

Strategic Financial Solutions

Legal name

Strategic Financial Solutions

Website

https://retiresfs.com

Company type

Private

Founded year

2003

Operating status

Operating

Headcount range

11–50 employees

Short description

Strategic Financial Solutions is an independent Cedar Rapids RIA founded in 2003 that provides fee-based individual wealth management and corporate retirement plan services — including 401(k) advisory, defined benefit, and ESOP support — to individuals, families, and Iowa-region businesses.

Ownership category

akta.pro rank

Product category

Retirement Plan Advisory Services

NAICS

Portfolio Management and Investment Advice (523940)

SIC

Investment Advice (6282)

akta.pro primary industry

Financial Planning–Led RIAs (FSAAACAB)

akta.pro secondary industries

Corporate Retirement Plan Advisory RIAs (ERISA 401(k)/403(b)) (FSAAACAF), Registered Investment Advisor (RIA) Wealth Management (FSAEABAA)

Keywords

• Financial planning services
• Retirement plan advisory
• Wealth management services
• 401(k) plan consulting
• Investment advisory services

Headquarters

HQ city

Cedar Rapids

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Fee-Based Advisory Services: Transparent, fee-based pricing through plan-level advisory fees or individual consulting arrangements. Services disclosed up front with regular benchmarking to ensure value. Fee-based model aligns advisor interests with client interests.
2. Broker-Dealer Services: Securities and advisory services offered through Commonwealth Financial Network, Member FINRA/SIPC. Access to wide universe of investment options including stocks, bonds, mutual funds, ETFs, alternative investments, managed accounts, and retirement plans.
3. Insurance Products: Fixed insurance products and services offered separately from Commonwealth Financial Network brokerage services. Includes life insurance, long-term care, disability, and other personal insurance planning.

Pricing tiers

Go-to-market motion4 records

Distribution channels3 records

Marketing channels8 records

Core offering

Strategic Financial Solutions is an independent registered investment adviser (RIA) that delivers personalized financial planning and retirement advisory services to individuals, families, and businesses. The firm provides 401(k) advisory, defined benefit plan management, ESOP administration, non-qualified executive benefits, and business succession planning for corporate clients, alongside wealth management, retirement income planning, estate strategies, charitable giving, and long-term care planning for individuals. Services are delivered by CFP-certified advisors affiliated with Commonwealth Financial Network, using a transparent fee-based pricing model and supported by multiple client portal platforms and educational resources.

Product overview

Strategic Financial Solutions is a financial advisory firm offering a unified suite of services rather than a software platform. The core offerings consist of business retirement plan services (401(k) advisory, defined benefit plans, ESOP, non-qualified executive benefits, business succession planning) and individual wealth management services (financial planning, investment management, retirement income planning, estate strategies, charitable giving, and long-term care planning). An online suite of financial calculators supplements the advisory services. All services are delivered through certified financial planners and retirement specialists.

Differentiator

Problem solved

Functional benefit

Products and services

• 401(k) Retirement Services
• Defined Benefit Plan Management
• Non-Qualified Executive Benefits
• Employee Stock Ownership Plan (ESOP)
• Business Succession Planning
• Employee Education Services
• Wealth Management
• Retirement Income Planning
• Estate Strategies
• Charitable Giving and Legacy Planning
• Long-Term Care Planning
• Financial Plan Development
• Financial Calculators

Quantifiable outcome

• Comprehensive retirement planning from start to finish
• +2 more outcomes

Named customers14 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration16 records

Feature3 records

Partnerships

One partnership is on record.

• Commonwealth Financial NetworkcoreTechnology or Integration · 1 January 2022Strategic partnership as registered investment adviser and broker-dealer. Commonwealth provides technology platform, integrated web-based systems for portfolio management, independent market research, wide universe of investment options, and back-office processing. Commonwealth oversees $344 billion in total account assets as of December 31, 2024. SFS transitioned to Commonwealth as their broker-dealer in 2022.

Scale indicators3 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• CAPTRUST: Independent RIA specializing in corporate retirement plan advisory (3(21)/3(38) fiduciary services) and investment management for institutions and individuals — directly comparable to SFS's core retirement plan and wealth management offerings.
• SageView Advisory Group: Specialty retirement plan consulting firm providing 3(21)/3(38) fiduciary advisory, executive benefits, and individual wealth management — directly overlaps SFS's 401(k), DB, ESOP, and individual planning services.
• Edelman Financial Engines: Large independent RIA combining workplace retirement plan advisory (including 401(k) advisory for plan sponsors) with individual financial planning and wealth management — highly comparable dual-channel model.
• Creative Planning: Large independent, fee-only RIA offering comprehensive financial planning, retirement, estate, and investment management to individuals and business owners — comparable comprehensive planning approach, though at much greater scale.
• Mercer Advisors: National RIA providing wealth management, retirement plan advisory, estate planning, and investment management to individuals, families, and institutions — comparable in offering breadth to SFS.
• Carson Group: RIA and wealth management firm offering financial planning, retirement plan services, and advisor coaching/affiliation model — comparable in providing a platform for advisors delivering comprehensive planning.
• Buckingham Strategic Wealth: Fee-only RIA offering comprehensive financial planning, retirement income planning, and investment management to individuals and families — comparable planning-led model with similar fiduciary positioning.

Broad incumbents

• Commonwealth Financial Network: SFS's own broker-dealer partner — a large independent broker-dealer/RIA platform supporting thousands of advisors with $344B in assets, comparable in scope but serves SFS rather than competing directly with it.
• Cetera Financial Group: Large broker-dealer and RIA support platform serving independent financial advisors — comparable in business model (independent RIA/broker-dealer affiliation) but operates at significantly larger scale.
• Focus Financial Partners: RIA consolidator and partnership platform for independent wealth management firms — comparable in supporting independent RIAs serving individuals and corporate plans, though at much greater scale and as a roll-up acquirer.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles14 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Strategic Financial Solutions