Financial LifeMaps is a registered investment advisor operating as a sole proprietorship in Renton, Washington, founded by Richard D. Hopkins. The firm provides comprehensive financial planning services, including retirement planning, debt management, tax strategies, and investment advice. Financial LifeMaps operates on a fee-only basis, meaning they do not sell financial products, earn commissions, or accept referral fees. Clients can choose between project consulting based on hourly fees or ongoing comprehensive financial planning based on a fixed annual retainer. The firm helps clients select mutual funds, exchange-traded funds, and other low-cost investments while avoiding individual stocks. Financial LifeMaps does not manage client portfolios directly or execute trades; clients retain custody of their accounts at a brokerage firm of their choice.
Fee Structure
Financial LifeMaps offers ongoing comprehensive financial planning for an annual retainer fee based on the complexity of your situation. Key details include:
- Initial year fee — typically starts around $800 or more
- Annual retainer — adjusts each year based on local inflation (typically 2% to 4%)
- Services included — regular updates to your personalized LifeMap Model, ongoing milestone tracking, and a list of specific financial tasks to perform over the coming months
- Meetings — typically 3 to 6 personal meetings per year
- Project consulting — $60 per hour, often with a pre-established not-to-exceed limit based on estimated hours
- One-time financial projects — covers specific needs such as retirement goal definition, tax reduction strategies, debt management, and investment choices within retirement accounts