Based in Minnetonka, Minnesota
Flames FP is based in Minnetonka, Minnesota. New York City relationships run entirely virtually. This page describes the New York City service area, not a separate New York City branch.
Financial advisor serving New York City
A flat-fee financial advisor serving New York City, NY.
Flames Financial Planning is based in Minnetonka, Minnesota and works with New York City households through a virtual planning relationship. Fixed quarterly memberships coordinate investments, taxes, retirement, and estate guidance without an AUM fee.
Minnetonka-basedA Minnesota firm serving New York City-area households; Flames FP does not claim a New York City office.
$150–$1,650/qtrQuarterly memberships billed in advance, with no annual commitment.
0% AUMThe advisory fee is not calculated as a percentage of the portfolio.
Virtual planningMeet and collaborate from New York City or anywhere else you happen to be.
Direct answer
How Do You Find a Flat-Fee Financial Advisor Serving New York City?
Compare each advisor’s registration, fiduciary role, total annualized cost in dollars, the services included, and who you actually meet with. Flames Financial Planning is based in Minnetonka—not at a New York City office—and serves New York City households virtually. Memberships cost $150, $900, or $1,650 per quarter, with no AUM fee and no annual commitment.
A truthful local relationship
Serving New York City without inventing an office there
A location page should tell you who is actually available, where the firm sits, and how the relationship works day to day.
Built for virtual collaboration
Meetings, document sharing, dashboard access, and ongoing planning all happen remotely, so where you live does not limit the advice you get.
Verify before you hire anyone
Check any advisor’s registration, services, disciplinary history, and fee disclosures before you sign. That applies to this firm as much as any other.
New York planning context
What actually differs about planning in the five boroughs
Tax rules are set by the state, not the city, and they change which decisions are worth the most. The full New York picture, with sources, is on the New York page. How those rules bear on withdrawal order, Roth-conversion timing and Medicare premiums is set out in the retirement tax planning overview.
New York tax treatment
New York City residents pay two income taxes: the state's, which reaches 9.65% at $2,155,350 of joint taxable income and 10.9% above $25 million, and the city's, which runs from 3.078% to 3.876%. Retirees do better than the rates suggest — Social Security is exempt, government pensions are fully exempt, and up to $20,000 of other pension and annuity income is excluded from age 59½. The estate tax is the trap: the exclusion is $7,350,000 for deaths in 2026, and an estate more than 5% above it gets no credit at all and is taxed from the first dollar, at rates up to 16%.
Retirement income: Social Security and government pensions exempt; $20,000 of other pension income excluded
Social Security is subtracted in full. Pensions from New York State, its local governments and the federal government are fully exempt, and from age 59½ up to $20,000 of other qualifying pension and annuity income is excluded per person.
Estates: $7.35 million exclusion in 2026, a cliff at 105% of it, and a 16% top rate
The basic exclusion amount is $7,160,000 for deaths in 2025 and $7,350,000 for deaths in 2026. An estate that exceeds the exclusion by more than 5% receives no credit at all and is taxed from the first dollar, at rates reaching 16% above $10.1 million.
How local households are paid
New York's high earners are paid in ways that tax differently from a salary: deferred compensation and restricted stock at the banks and asset managers, partnership income at law and medical practices, and equity at the technology companies that have expanded here. Many households also hold a New York City co-op or condo that is a large part of their estate, which is what pushes them toward the estate cliff.
Rates change; check before you act
Brackets, thresholds, and retirement-income rules are revised regularly. The figures above are for tax year 2025. Treat them as a starting point and confirm the current year before making a decision on them.
Federal and state, together
How New York Tax Interacts With a New York City Household’s Federal Return
State and city income tax together with property tax exceed the federal deduction cap for most New York City households by a wide margin, and above $500,000 of modified adjusted gross income the cap shrinks toward $10,000. Almost none of the state and city tax a high earner pays here is deductible federally.
For tax year 2026 the federal deduction for state and local taxes is capped at $40,400, shrinking above $500,000 of modified adjusted gross income to a floor of $10,000. IRS, Instructions for Schedule A (2025), line 5e.
Worth doing here
New York planning opportunities
Things that are worth doing in New York that would not be worth doing, or would work differently, somewhere else.
Staying under the estate cliff
Because the credit vanishes once an estate exceeds 105% of the exclusion, an estate slightly over the line can owe several hundred thousand dollars more than one slightly under it. Lifetime gifts and charitable bequests that bring the estate back below the threshold are unusually valuable here.
The 529 subtraction
Contributions to New York's 529 College Savings Program can be subtracted up to $5,000 a year, or $10,000 on a joint return. Contributions to other states' plans do not qualify.
Using the $20,000 exclusion every year
From 59½ each spouse can exclude up to $20,000 of qualifying pension and annuity income a year. Retirement income that is drawn in a steady stream uses the exclusion in full; income taken in lumps wastes it.
The first meeting
What the first meeting covers for a New York City household
A discovery meeting is a conversation, not a pitch. For households here it tends to get to these three things.
Where the household's estate sits relative to New York's exclusion and the 105% cliff, with the apartment counted, and what would bring it back under.
Deferred compensation and restricted stock: the payout schedule, and which years the state and city taxes will hit hardest.
In retirement, how to draw pension and annuity income so that each spouse's $20,000 exclusion is used every year.
Who this fits
Households Flames FP often helps in New York City
The common thread is a household with enough complexity that the decisions interact, and enough assets that a percentage fee gets expensive.
High-income families
See how the planning relationship works for this situation, what is included, and what it costs.
Pre-retirees
See how the planning relationship works for this situation, what is included, and what it costs.
Anyone comparing a 1% fee against a flat one
Run your own numbers before talking to anyone, including this firm. The calculator converts a percentage into the dollars it actually costs over time.
Watch and learn
Financial Planning, Explained Clearly
Start with three videos selected for this page, then use the controls to explore every published Flames FP video guide.
Videos 1–3 of 14
What Nobody Tells You About Earning $400K a Year
See why a $400K income can still leave too little investable margin and how taxes, lifestyle growth, and deliberate investing change the result.
The RSU Strategy Most $300K Tech Earners Miss
Understand taxation at vesting, check the withholding gap, and turn each RSU vest into a deliberate diversification and household-planning decision.
The 3-Account System for a $250K Income
Use cash reserves, tax-advantaged accounts, and a taxable brokerage account to turn a strong income into a repeatable wealth-building system.
The 6 Levels of Wealth for $200K+ Households
Use six stages to separate a high income from the wealth it actually creates.
The Most Underrated Retirement Account
How a taxable brokerage account can support retirement flexibility alongside tax-advantaged accounts.
How to Decrease Your Tax Bill
Review practical tax-planning decisions that can connect income, investments, retirement, and withholding.
Should You Invest or Spend Your HSA?
A practical framework for deciding how an HSA fits healthcare costs, taxes, and retirement planning.
Four Common Backdoor Roth IRA Mistakes
Understand contribution, conversion, pro-rata, and reporting mistakes before they create tax problems.
Direct Indexing vs ETFs in a Taxable Account
Compare diversification, tax management, cost, and complexity before changing an investment strategy.
My New Favorite Account to Gift Money to Kids and Grandkids
Compare the new child investment account with 529 plans, custodial accounts, Roth IRAs for earned income, and the family's actual goals.
Estate Planning Documents You May Need
A plain-English review of wills, powers of attorney, healthcare directives, beneficiaries, and trusts.
Flat Fee vs 1% Financial Advisor
See how a percentage fee changes in dollars as a portfolio grows and what to compare beyond the headline rate.
How Much Life Insurance Do You Need?
Think through income replacement, debt, children, childcare, education, and family risk.
Five Money Mistakes High Earners Make
Common coordination gaps involving taxes, cash flow, investments, insurance, and estate planning.
Common questions
New York City Financial Advisor Questions
Does Flames Financial Planning have a New York City office?
No. Flames Financial Planning is based in Minnetonka, Minnesota, and serves New York City households through a virtual planning relationship. This page describes the service area and does not claim a New York City office.
Can someone in New York City work with Flames FP virtually?
Yes. New York City households can meet by video, share documents securely, use the financial dashboard, and receive ongoing planning without travelling. Flames FP serves clients nationwide where permitted.
How much does Flames FP cost?
Flames Access is $150 per quarter ($600 annualized), Planning is $900 per quarter ($3600 annualized), and Premier is $1650 per quarter ($6600 annualized). Memberships are billed quarterly in advance with no annual commitment.
Does Flames FP charge an AUM fee to New York City clients?
No. The advisory fee is a flat quarterly amount tied to the planning work, not a percentage of the portfolio, so it does not increase as investments grow.
What should a New York City household compare between advisors?
Compare the total annual cost in dollars rather than percentages, exactly what is included at that price, whether the advisor is a fiduciary and fee-only, and who you actually meet with. Then verify the firm's registration and disciplinary history on the SEC's adviser search.
Is New York tax planning part of the relationship?
Yes. State tax treatment shapes withdrawal order, Roth-conversion timing, and where investments are best held. Planning includes tax guidance and review of a completed return; Premier adds tax projections and preparation and filing through an independent tax partner. The New York rules themselves are set out on the New York page.
Next step
Compare a New York City-area planning relationship in actual dollars.
A discovery meeting covers your situation, your current advisor arrangement if you have one, and whether a fixed quarterly membership is a better fit than what you are paying now.