Sapphire Fiduciary Advisors, LLC
Data sourced from SEC public records (and other sources when available). Refreshed weekly • Updated today.
Client AUMClient assets under management
$58,000,000
Clients
19
Advisors
2
of 2 employees
About
Sapphire Fiduciary Advisors provides discretionary investment management to individuals, families, trusts, institutional clients, and other investment advisers, offering advisory, sub‑advisory, and tri‑party arrangements. The firm manages roughly $90 million of discretionary assets for a small client base and structures relationships through Investment Advisory and Sub‑Advisory Agreements.
The firm's investment approach emphasizes fundamental analysis and a focus on high‑quality securities, applying both equity and fixed‑income research to identify disparities between market price and intrinsic value; allocations may include individual securities, mutual funds, and ETFs. Investment objectives, risk tolerances, and restrictions are documented in client profile forms or investment policy statements, accounts are managed on a discretionary basis, and reviews occur on an ongoing basis with the use of external strategies where appropriate.
Distinctive aspects of the firm include ownership and affiliation links with community banking interests and a bank holding company, and a recent discontinuation of a program that compensated community banks for referrals — an uncommon profile for an independent adviser. The firm also accepts institutional mandates and provides services to other investment advisers as a sub‑advisor, and some clients are also beneficial owners of the firm, all of which differentiate it from most solo independent practices.
Client services
Expertise
Fee options
$0 - $1,000,000: 1.25% annually $1,000,000.01 - $3,000,000: 1.00% annually $3,000,000.01 - $5,000,000: 0.75% annually $5,000,000.01+: 0.50% annually
Main office
Louisville KY
Advisors at this office
2
Most active in
Florida · Kentucky · Ohio
Disclosures
Exclamation point means they have disclosures of this type. Check mark means no disclosures of this type were found.
Business activities & affiliations
Is active or affiliated with:
Bank
They're affiliated with a bank that may offer its own financial products and services.
Fund sponsor
They manage or sponsor investment funds and may earn management or performance-based fees if clients invest in them.
Is not active or affiliated with:
-
Insurance agent
They sell insurance products and may earn commissions on those sales.
-
Broker-dealer / trader
They provide brokerage services and may earn transaction-based compensation in addition to advisory fees.
-
Trust company
They provide trust and estate administration services, typically for separate fees.
-
Accountant / CPA / tax prep
They offer tax and accounting services, typically for separate fees.
-
Lawyer
They provide legal services, typically billed separately.
-
Real estate agent
They facilitate real estate transactions and may earn commissions.
-
Other specialized services
They may provide services such as pension consulting or municipal advisory work, typically for separate fees.
Forms ADV
Quick links
Advisors at this firm
Paul S
CFA®, Series 63, Series 66
Louisville, KY
Sapphire Fiduciary Advisors, LLC
Paul Stropkay is a CFA® charterholder and financial advisor with 14 years of industry experience. He is the principal of Sapphire Fiduciary Advisors, LLC in Louisville, KY, where he has worked since 2021. Stropkay also serves as a director on the boards of Rockcastle Bancorp and Citizens Bank, providing oversight on banking operations and strategy. Sapphire Fiduciary Advisors offers discretionary investment management to individuals, families, trusts, institutions, and other advisers, managing approximately $90 million in assets. The firm’s investment approach centers on fundamental analysis and the identification of discrepancies between market price and intrinsic value across equities and fixed income, with a client base that includes beneficial owners and institutional mandates.
Richard P
Series 65
Louisville, KY
Sapphire Fiduciary Advisors, LLC
Richard Phares is a Series 65-licensed financial advisor with seven years of industry experience. He is the sole advisor at Sapphire Fiduciary Advisors, LLC, an independent firm he joined in 2026 after previous roles at Cerity Partners, ARGI Investment Services, and Pallas Partners. Sapphire Fiduciary Advisors provides discretionary investment management to individuals, families, trusts, institutions, and other advisers, managing approximately $90 million in assets. The firm employs fundamental analysis focused on high-quality securities, using both equity and fixed-income research, and offers advisory, sub-advisory, and tri-party arrangements.
Not sure where to start?
We'll help you think it through—whether you ultimately need an advisor or not. Warmer helps you compare advisors clearly, so you can choose with confidence.
For advisor listings, we rely on sources including public filings and data provided by advisors, and we cannot guarantee that all information is current or accurate. Advisors are independent and may not have reviewed or updated this information. Please review an advisor's Form ADV and do your own diligence before deciding whether to work with them.
Advisor matching and referrals are provided by FinanceHQ LLC ("FHQ"), a wholly-owned subsidiary of Warmer and an SEC-registered investment adviser. We may be compensated by participating advisors. You pay no fee to use our matching service, and advisor fees are not increased because of a referral. We do not supervise advisors, manage or hold assets, guarantee performance, or provide advice about specific investments.
By using our service, you agree to the Warmer Terms of Service and FHQ Advisory Agreement, and acknowledge Warmer's Privacy Policy. Please review FHQ's ADV Part 2A and Form CRS. Logos provided by Logo.dev
© 2026 Warmer Holdings Inc. ("Warmer")