Whalen Financial Planning is a registered investment advisor founded in 2017 and based in Los Angeles, California. Led by Patrick Steven Whalen, the firm operates as a fee-only practice, meaning compensation comes solely from direct client fees rather than commissions or product sales. Whalen Financial Planning is legally required to act in your best interest as a fiduciary. The firm offers two main types of services: financial planning and investment management. Financial planning covers a broad range of topics including cash flow and debt management, college savings, employee benefits, estate planning guidance, insurance analysis, retirement planning, tax planning strategies, and trust considerations. Clients can receive comprehensive written plans or pay hourly for targeted consultations and second opinions. For investment management, Whalen Financial Planning builds passive, diversified portfolios primarily using index mutual funds and exchange-traded funds to keep costs low and tax efficiency high. Portfolios can be managed with authority to make trades without asking first or on a non-discretionary basis where client approval is needed for each trade. The firm generally requires a minimum of $500,000 in investable assets for investment management services.
Fee Structure
Portfolio-Based Fees (Tiered)
| Portfolio Value | Annual Fee |
|---|---|
| Up to $500K | 1.00% |
| $500K - $1.0M | 0.90% |
| $1.0M - $2.0M | 0.80% |
| $2.0M - $3.0M | 0.70% |
| $3.0M - $4.0M | 0.60% |
| $4.0M - $5.0M | 0.50% |
| $5M+ | 0.40% |
Accounts of spouses and minor children are typically aggregated for fee discounts. Fees are negotiable at the discretion of the principal.
