Northbank Partners

What Northbank Partners does

Northbank Partners is a privately held registered investment advisory firm founded in 2018 and headquartered at 3463 W. Cary Street in Richmond, Virginia. The firm was established by Phil Heesen, Bob Wheatley, Tyler Dove, and Toni Powell when they separated from Infinity Financial Partners to create a dedicated multi-generational financial planning practice serving individuals and families across the Richmond and Central Virginia region. As of late 2025, the active advisory team consists of Bob Wheatley (AIF) and Tyler Dove (CFP), with Mel Levy providing client services; Toni Powell retired in December 2025 and founder Phil Heesen retired in January 2021.

The firm delivers core financial planning and investment management services, supplemented by specialized modules covering retirement planning, college planning, estate planning, Medicare and insurance planning, and tax planning. All securities and advisory services are offered through LPL Financial, a registered investment advisor and broker-dealer (member FINRA/SIPC), which provides the regulatory infrastructure, platform, and multi-state licensing (15 states) under which the team operates as LPL Financial Advisors held to the fiduciary standard. The only client-facing technology referenced is an online dashboard that consolidates the client's overall financial picture in a single view; no proprietary technology, AI/ML capabilities, or API integrations are disclosed.

The business model is AUM-based recurring advisory fees billed annually, with no publicly disclosed fee schedule but with explicit emphasis on fee transparency versus competitor advisors. The go-to-market is exclusively direct and relationship-based, anchored in personal referrals, community seminars (Medicare, cyber security, shredding events, social gatherings), an educational blog (Finance Pub), a weekly market commentary newsletter sourced from LPL Research, and an active social media presence across 8+ platforms. The firm segments its clientele into three life-stage personas — 20- and 30-year-olds, Gen Xers, and pre-retirees/retirees — with the latter two as primary targets. The firm has 11-50 employees, no external funding, no parent company, and no disclosed revenue.

Name

Northbank Partners

Legal name

Northbank Partners, LLC

Website

https://northbankpartners.com

Company type

Private

Founded year

2018

Operating status

Operating

Headcount range

11–50 employees

Short description

Northbank Partners is a privately held, multi-generational financial advisory firm in Richmond, Virginia, offering fee-based financial planning, investment management, retirement, estate, Medicare, and tax planning to individuals and families primarily in Richmond and Central Virginia through the LPL Financial platform.

Ownership category

akta.pro rank

Headquarters

HQ city

Richmond

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D

Revenue model

1. Advisory Fee / AUM-Based Revenue: Securities and Advisory services offered through LPL Financial, a registered investment advisor and broker-dealer, member FINRA & SIPC. Revenue is derived from advisory fees, with emphasis on transparency in fee structure. As LPL advisors, the firm is held to the fiduciary standard and earns fees for investment management and financial planning services.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels5 records

Core offering

Northbank Partners is a multi-generational financial advisory firm that delivers comprehensive financial planning and investment management services to individuals and families across Richmond and Central Virginia. Core services are offered through LPL Financial (a registered investment advisor and broker-dealer, member FINRA/SIPC) and span financial planning, investment management, retirement income planning, estate planning, tax planning, college planning, and Medicare/insurance planning. Clients are served via a team-based model (Baby Boomer, Gen X, Millennial advisors) with access to an online dashboard that consolidates their overall financial picture in one place.

Product overview

Northbank Partners is a multi-generational financial advisory firm providing integrated financial planning and investment management services. The core offerings include Financial Planning and Investment Management through LPL Financial, supplemented by specialized service modules covering Retirement Planning, College Planning, Estate Planning, Medicare & Insurance Planning, and Tax Planning. Educational resources include the Finance Pub Blog and Weekly Market Commentary. The firm serves clients across generational segments (20s/30s, Gen X, and pre-retirees/retirees) from its Richmond, Virginia location.

Differentiator

Problem solved

Functional benefit

Products and services

• Financial Planning Comprehensive financial planning services covering understanding of the client's overall financial picture, goal preparation, fee transparency, and ongoing advisory support for individuals and families across generational stages. Delivered through LPL Financial under a fiduciary standard by a multi-generational team (Baby Boomer, Gen X, Millennial advisors).
• Investment Management Investment management services including portfolio construction, asset allocation, and ongoing investment monitoring, delivered through LPL Financial by LPL Investment Advisor Representatives on the Northbank team. Advisory services are subject to the fiduciary standard.

Named customers1 record

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

Three partnerships are on record, tiered minor and supporting.

• Better2gether RVAminorOthersCommunity partner supported by Northbank Partners. Nature of support includes charitable giving as part of the firm's community involvement program.
• Carytown RVAminorOthersLocal community partner in Richmond, VA supported through Northbank Partners' community giving program.
• LPL ResearchsupportingTechnology or IntegrationLPL Research provides the Weekly Market Commentary content distributed by Northbank Partners to clients. The research covers domestic and global markets, policy actions, and geopolitical impacts, distributed weekly via PDF download.

Scale indicators1 record

Recent moves7 records

Expansion highlights5 records

Direct peers

• Buckingham Strategic Wealth: National fee-only RIA delivering evidence-based financial planning and investment management to individuals and families. Comparable in fiduciary-only model, comprehensive planning scope, and emphasis on fee transparency.
• Cary Street Partners: Richmond, VA-headquartered financial advisory and wealth management firm serving individuals, families, and institutions. Comparable in geography, fiduciary RIA model, and integrated planning offering.
• Carson Group: Wealth management firm serving financial advisors and their clients with a focus on succession planning, coaching, and growth enablement. Comparable in advisor-led model, succession emphasis, and multi-generational client philosophy.
• Foster & Motley: Fee-only wealth management firm offering financial planning, investment management, retirement, estate, and tax planning. Comparable in mid-sized RIA model, comprehensive planning offerings, and fiduciary positioning.
• CapWealth Advisors: Fee-only RIA based in Richmond, VA serving individuals, families, and institutions with comprehensive wealth management. Most directly comparable peer given shared Richmond geography, fee-only fiduciary model, and similar target clientele.

Others

• LPL Financial: Registered investment advisor and broker-dealer platform through which Northbank delivers its services. Included as the operating infrastructure partner and a reference point for firm economics, not a direct competitor.
• Commonwealth Financial Network: Independent broker-dealer and RIA platform supporting independent financial advisors with custody, compliance, and technology infrastructure. Comparable as an LPL-alternative platform serving similarly structured independent advisor practices.

Broad incumbents

• Mariner Wealth Advisors: National RIA providing comprehensive financial planning and investment management to individuals, families, and institutions. Comparable in fiduciary standard and integrated planning but at substantially larger scale.
• Edward Jones: Large national financial services firm with branch-based advisors serving individuals across retirement, investment, and estate planning needs. Comparable in face-to-face relationship model and community-anchored advisor footprint, though larger and commission-inclusive.
• Creative Planning: Large national fee-only RIA offering comprehensive wealth management, tax, estate, and retirement planning. Comparable in fiduciary model and service breadth but operates at significantly greater scale and geographic reach.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/northbankpartners
• Xtwitter.com/northbankpartners
• Instagraminstagram.com/northbankpartners
• LinkedInlinkedin.com/company/northbank-partners-in-carytown

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Northbank Partners