Based in Minnetonka, Minnesota
Flames FP is based in Minnetonka, Minnesota. Richmond relationships run entirely virtually. This page describes the Richmond service area, not a separate Richmond branch.
Financial advisor serving Richmond
A flat-fee financial advisor serving Richmond, VA.
Flames Financial Planning is based in Minnetonka, Minnesota and works with Richmond 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 Richmond-area households; Flames FP does not claim a Richmond 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 Richmond or anywhere else you happen to be.
Direct answer
How Do You Find a Flat-Fee Financial Advisor Serving Richmond?
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 Richmond office—and serves Richmond households virtually. Memberships cost $150, $900, or $1,650 per quarter, with no AUM fee and no annual commitment.
A truthful local relationship
Serving Richmond 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.
Virginia planning context
What actually differs about planning in central Virginia
Tax rules are set by the state, not the city, and they change which decisions are worth the most. The full Virginia picture, with sources, is on the Virginia page. How those rules bear on withdrawal order, Roth-conversion timing and Medicare premiums is set out in the retirement tax planning overview.
Virginia tax treatment
Virginia taxes nearly all of a planning household's income at 5.75%, exempts Social Security and up to $40,000 of military retirement pay per person, and taxes pensions, IRA withdrawals and federal retirement income in full; the $12,000 age deduction at 65 disappears above $62,000 of income for a single filer or $87,000 for a couple. There is no estate tax. For a Richmond corporate or state-government household, the withdrawal plan carries real state weight.
Retirement income: Social Security exempt; $12,000 income-tested age deduction at 65; up to $40,000 of military retirement subtracted; pensions, IRAs, FERS and TSP taxed
Virginia exempts Social Security and Tier 1 Railroad Retirement benefits. Taxpayers born on or before January 1, 1939 deduct $12,000; those born later who have reached 65 may deduct up to $12,000, reduced $1 for every $1 of adjusted federal AGI over $50,000 (single) or $75,000 (married), so the deduction is gone at $62,000 and $87,000. Military retirement pay and Survivor Benefit Plan payments are subtractable up to $40,000 per eligible person for 2025 and later, with no age test. Pensions, 401(k) and IRA distributions, and FERS, CSRS and TSP income are taxable in full.
Estates: None since July 1, 2007
Virginia repealed its estate tax for deaths on or after July 1, 2007 and has no inheritance tax. Only the federal exclusion applies.
How local households are paid
Richmond is paid by state government, by a group of public headquarters that includes Dominion Energy, Altria, CarMax and Markel, by Capital One's very large West Creek campus, and by VCU Health and the region's hospitals. Restricted stock and deferred compensation at the public companies, and Virginia Retirement System pensions for state employees, are the account types that recur, and each is taxed in full by Virginia in retirement.
Rates change; check before you act
Brackets, thresholds, and retirement-income rules are revised regularly. The figures above are for tax year 2026. Treat them as a starting point and confirm the current year before making a decision on them.
Federal and state, together
How Virginia Tax Interacts With a Richmond Household’s Federal Return
At 5.75% on almost all income plus Northern Virginia property tax, many working households exceed the federal deduction cap, and above $500,000 of modified adjusted gross income the cap shrinks toward $10,000, so much of what a high-earning Virginia household pays the state is not deductible federally. In retirement the state still taxes TSP, FERS and IRA income in full, so the withdrawal plan carries more state weight here than in most states.
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
Virginia planning opportunities
Things that are worth doing in Virginia that would not be worth doing, or would work differently, somewhere else.
Virginia529: $4,000 per account, no cap from age 70
Contributions to a Virginia529 account are deductible up to $4,000 per account per year, with any excess carried forward until deducted, and the per-account cap multiplies across several children or grandchildren. Account owners who are 70 or older by December 31 may deduct the entire amount contributed in the year.
Protect the $12,000 age deduction
Because the deduction shrinks dollar for dollar above $50,000 (single) or $75,000 (married) of adjusted federal AGI, a Roth conversion, a large gain or a lump-sum TSP withdrawal in the wrong year can erase it, costing up to $690 per person at 5.75%. Spreading conversions and gains, or finishing large conversions before 65, preserves it.
The military retirement subtraction
Military retirement income and Survivor Benefit Plan payments are subtractable up to $40,000 per eligible individual for 2025 and later, worth up to $2,300 a year at 5.75%, and a two-retiree household can subtract up to $80,000. Federal civilian pensions (FERS, CSRS) and TSP distributions do not qualify.
The first meeting
What the first meeting covers for a Richmond household
A discovery meeting is a conversation, not a pitch. For households here it tends to get to these three things.
Restricted stock and deferred compensation: vesting and payout schedules against a planned retirement date, and the Virginia bracket each will land in.
For state employees: how a Virginia Retirement System pension coordinates with Social Security and a deferred-compensation plan.
Roth conversions and withdrawal order sequenced against Virginia's 5.75%, the federal brackets and the age deduction's income test.
Who this fits
Households Flames FP often helps in Richmond
The common thread is a household with enough complexity that the decisions interact, and enough assets that a percentage fee gets expensive.
Pre-retirees
See how the planning relationship works for this situation, what is included, and what it costs.
Corporate employees
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
Richmond Financial Advisor Questions
Does Flames Financial Planning have a Richmond office?
No. Flames Financial Planning is based in Minnetonka, Minnesota, and serves Richmond households through a virtual planning relationship. This page describes the service area and does not claim a Richmond office.
Can someone in Richmond work with Flames FP virtually?
Yes. Richmond 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 Richmond 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 Richmond 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 Virginia 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 Virginia rules themselves are set out on the Virginia page.
Next step
Compare a Richmond-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.