Lifetime Planning

What Lifetime Planning does

Lifetime Planning is a privately-held, family-owned financial advisory firm founded in 1989 by David M. Smith and headquartered in Ventura County, California, now led by Eric Smith following an October 2016 generational succession. The firm serves individual clients, with a primary focus on affluent families, in Southern California and across 12 U.S. states (AZ, CA, HI, ID, KS, ME, NC, NJ, NV, NY, OR, TX, WA). Core services span comprehensive financial planning, wealth management, estate planning, retirement planning, insurance strategy, and consolidated advice for client segments including doctors, education administrators, young investors, business executives, and widows.

The firm operates a hybrid advisory model in which traditional human-led planning engagements are paired with algorithm-driven portfolio management. Securities and brokerage infrastructure are sourced through a partnership with LPL Financial, while investment advisory services are structured under Cornerstone Wealth Management, a separate Registered Investment Advisor staffed by CFA-credentialed portfolio managers (Liyin Bao, since 2012; Khurram Naveed, since 2017). Lifetime Planning also distributes Guided Wealth Portfolios, a digital, automated investment service running on LPL's FutureAdvisor algorithms, providing a lower-touch alternative for clients who do not require full-service planning.

The business model is fee-based advisory: revenue is generated primarily through asset-based advisory fees on client portfolios custodied and traded through LPL Financial, with investment management staffed via the Cornerstone RIA partnership. The practice runs with a five-person professional team and pursues modest growth through selective, roll-up-style consolidation, notably a 2022 merger absorbing Bill Craver's book, and through geographic expansion via state-by-state advisor registration rather than through external capital or rapid hiring.

Name

Lifetime Planning

Legal name

Lifetime Planning, Inc.

Website

https://lifetimeplanning.biz

Company type

Private

Founded year

1989

Operating status

Operating

Headcount range

1–10 employees

Short description

Lifetime Planning is a Ventura County, California-based financial advisory firm founded in 1989, serving affluent families and individual clients across Southern California and 12 U.S. states with wealth management, estate, and retirement planning plus an algorithm-based digital channel via LPL Financial.

Ownership category

akta.pro rank

Product category

Wealth Management

NAICS

Portfolio Management and Investment Advice (523940), Portfolio Management and Investment Advice (52394)

SIC

Investment Advice (6282)

akta.pro primary industry

Comprehensive Financial Planning (FSAEAAAA)

akta.pro secondary industries

Retirement & Pension Planning (401(k)/IRA) (FSAEAAAD), Estate & Legacy Planning Advisory (FSAEAAAG), Private Wealth Planning (Tax, Estate & Succession) (FSAAABAE)

Keywords

• Financial planning services
• Wealth management advisory
• Retirement income planning
• Estate planning services
• Investment management advisory

Headquarters

HQ city

Camarillo

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Investment Advisory Services: Advisory services are offered through Cornerstone Wealth Management, LLC, a registered investment advisor. Securities are offered through LPL Financial, Member FINRA/SIPC. The firm earns revenue through advisory fees associated with managed investment accounts and financial planning services.
2. Financial Planning Fees: Initial consultations are offered at no cost. Ongoing financial planning services are rendered pursuant to a client service agreement.

Pricing tiers

Go-to-market motion1 record

Distribution channels2 records

Marketing channels6 records

Core offering

Lifetime Planning delivers comprehensive financial planning and wealth management services to individuals and families, including cash flow and retirement income planning, estate and trust planning, asset allocation, tax management, insurance strategy, business succession planning, charitable planning, family wealth conversations, and active investment management. The firm complements its human advisory practice with the Guided Wealth Portfolios (GWP) online investment platform — an algorithm-based, centrally managed solution built on LPL Financial's FutureAdvisor technology — providing 24/7 account access and on-call advisor support for tech-savvy and self-directed clients. Advisory services are governed by a client service agreement and offered at no charge for the initial consultation.

Product overview

Lifetime Planning offers a comprehensive suite of financial planning and wealth management services organized around core advisory offerings. The primary services include Cash Flow & Retirement Planning, Estate & Trust Planning, Asset Allocation, Tax Management, Insurance Strategy, Business Succession Planning, Charitable Planning, Family Wealth Conversations, Legal Aid referrals, Goal Visualization, and Investment Management. For younger and tech-savvy investors, the firm offers Guided Wealth Portfolios (GWP), a digitally-enabled investment platform using algorithm-based portfolio management with human advisor support. The services are delivered through Cornerstone Wealth Management and securities are offered through LPL Financial.

Differentiator

Problem solved

Functional benefit

Products and services

• Cash Flow & Retirement Planning Comprehensive planning service that addresses income distribution, savings strategy, and the creation of reliable retirement income streams for individuals nearing or already in retirement.
• Estate & Trust Planning Planning services focused on wealth transfer, living trusts, wills, healthcare directives, and probate avoidance strategies for clients and their families.
• Asset Allocation Investment strategy service that constructs diversified portfolios tailored to each client's risk tolerance, time horizon, and financial goals.
• Tax Management Strategic tax planning services including tax-efficient investing, tax bracket management, and coordination with clients' tax professionals.
• Insurance Strategy Analysis and recommendation of insurance products including life insurance, long-term care insurance, and disability insurance as part of comprehensive financial plans.
• Business Succession Planning Planning services for business owners to structure orderly ownership transitions, including buy-sell agreements and succession strategies for their practices and companies.
• Charitable Planning Strategies for incorporating charitable giving into financial plans, including donor advised funds, charitable remainder trusts, and gift annuities.
• Investment Management Active portfolio management service encompassing stocks, bonds, mutual funds, ETFs, and alternative investments, executed under the Cornerstone Wealth Management Model Wealth Program.
• Guided Wealth Portfolios (GWP) Centrally managed, algorithm-based online investment program offered through LPL Financial using proprietary automated algorithms from FutureAdvisor, providing 24/7 account access with advisor availability during regular business hours for younger and tech-savvy investors.

Quantifiable outcome

• More than half of Gen Z and millennial investors receive financial advice from social media, yet financial professionals remain the most trusted source of advice (per survey referenced on the Lifetime Planning blog).

Named customers3 records

Segments6 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

Three partnerships are on record, tiered minor and core.

• Bill Craver (Merged Practice)minorStrategic or Co-development Partner · 1 January 2022Bill Craver, a Financial Advisor with Cornerstone Wealth Management, merged his own financial services business with Lifetime Planning in 2022 as part of his retirement strategy. He serves retired clients and previously owned his business for 24 years.
• LPL FinancialcoreTechnology or IntegrationSecurities are offered through LPL Financial, Member FINRA/SIPC. LPL Financial provides the broker-dealer platform, regulatory oversight, and the Guided Wealth Portfolios technology (via FutureAdvisor) used by Lifetime Planning's online investment management offering.
• Cornerstone Wealth Management, LLCcoreTechnology or IntegrationInvestment advice is offered through Cornerstone Wealth Management, LLC, a registered investment advisor. Cornerstone provides the investment advisory platform, portfolio management through its Model Wealth Program, and investment policy committee oversight. The Cornerstone investment team and portfolios are used for some but not all of Lifetime Planning's client advisory accounts.

Scale indicators3 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• Betterment: Betterment is a robo-advisor offering algorithm-based portfolio management with optional access to human advisors for higher-tier clients. Comparable to Lifetime Planning's online GWP offering targeted at younger, tech-savvy investors seeking 24/7 access.
• Wealthfront: Wealthfront is a leading automated investment platform offering algorithm-driven portfolio management with goal-based planning tools. Directly comparable to the Guided Wealth Portfolios offering via LPL/FutureAdvisor that Lifetime Planning offers younger, self-directed clients.
• Personal Capital (Empower): Empower Personal Capital is a hybrid digital wealth management platform combining algorithm-driven portfolio management with access to human financial advisors. Directly comparable to Lifetime Planning's hybrid model combining Guided Wealth Portfolios with full-service advisory.

Broad incumbents

• Creative Planning: Creative Planning is a large, nationally recognized RIA providing comprehensive wealth management, estate planning, tax, and retirement services to affluent families. Overlapping service offering with Lifetime Planning but operating at significantly larger scale across all 50 states.
• Edelman Financial Engines: One of the largest independent RIAs in the US, offering comprehensive financial planning, investment management, and retirement advice across the full client lifecycle. Comparable to Lifetime Planning in service breadth but at vastly greater scale and with institutional backing.
• Mariner Wealth Advisors: Mariner is a national RIA offering comprehensive financial planning, investment advisory, estate, and tax services to high-net-worth individuals and families. Comparable comprehensive planning model but with far larger headcount and institutional infrastructure.
• Fisher Investments: Fisher Investments is a large independent RIA primarily serving high-net-worth individuals and families with portfolio management and retirement planning. Comparable in serving similar affluent clientele and retirement-income focus, but at far greater scale and with a more centralized model.

Others

• LPL Financial: LPL Financial is the largest independent broker-dealer in the US and the core platform partner for Lifetime Planning's securities execution and Guided Wealth Portfolios technology. Acts as infrastructure provider rather than direct competitor, but its scale and platform offerings shape Lifetime Planning's competitive context.
• Commonwealth Financial Network: Commonwealth is an independent broker-dealer/RIA platform supporting thousands of financial advisors with practice management, technology, and compliance services. Operates as a peer/alternative to LPL Financial in supporting independent advisory practices like Lifetime Planning.
• Cetera Financial Group: Cetera is a broker-dealer and RIA support platform providing compliance, technology, and operations infrastructure to hundreds of independent financial advisors. Comparable to Lifetime Planning's reliance on LPL Financial for similar back-office support, serving as an alternative platform option.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Key risks5 records

Key highlights6 records

Customer concentration

• YouTubeyoutu.be/8mJtnXytDAM
• LinkedInlinkedin.com/company/lifetime-planning-inc

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 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 Lifetime Planning