Manuka Financial

What Manuka Financial does

Manuka Financial LLC is a privately held, SEC-registered investment advisor founded on May 10, 2021, by Michael T. Powers (CPA, PFS, CFP) and headquartered in Richmond, Virginia. The firm operates a deliberately capacity-constrained, fee-only financial-advisory practice serving pre-retirees, retirees, and financially independent professionals across the United States on a fully virtual basis. As of December 31, 2025, the firm reported $218M in assets under management across 53 active households, with a stated target ceiling of approximately 60 households to preserve a high-touch service model.

The core offering is a single integrated service—Financial Planning & Investment Management—delivered under a bracket-based flat-fee structure rather than a percentage-of-AUM model. Annual fees range from $20,000 (up to $5M managed) to $50,000+ ($30M+ managed), plus a $2,500 upfront planning fee, billed quarterly in advance. The product combines tax-efficient passive investment management (implemented via Charles Schwab custody) with holistic retirement planning, including Social Security and health care planning, tax strategy, stock option evaluation, estate coordination, Monte Carlo-based stress testing (via Right Capital), and performance reporting (via Capitect). A two-advisor coverage model (Powers and Kirsten Ashbaugh) pairs each client with both advisors for continuity.

The go-to-market is consultative and high-touch: discovery call, signed agreement, data-gathering meeting, plan delivery, and ongoing quarterly reviews. Demand exceeds capacity, and the firm currently runs a waitlist with next openings anticipated in H2 2027. Revenue is generated exclusively from flat advisory fees—no commissions, product sales, or third-party referrals for revenue; ancillary partners (tax preparation via Banks Mountain Financial, P&C insurance via USI Insurance Services) operate on a referral/coordination basis. The firm is bootstrapped and founder-owned, with no disclosed outside capital, M&A activity, or institutional ownership.

Name

Manuka Financial

Legal name

Manuka Financial LLC

Website

https://manukafinancial.com

Company type

Private

Founded year

2021

Operating status

Operating

Headcount range

1–10 employees

Short description

Manuka Financial is a fee-only, SEC-registered RIA founded in 2021 that provides flat-fee retirement and holistic financial planning to a deliberately limited base of approximately 53 U.S. households nationwide, using a virtual, two-advisor service model.

Ownership category

akta.pro rank

Product category

Financial Advisory Services

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)

Keywords

• Flat-fee financial planning
• Retirement planning services
• Investment management advisory
• Wealth management advisory
• Tax planning services

Headquarters

HQ city

Richmond

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Financial Planning & Investment Management - Flat Fee: Annual flat fee model billed quarterly in advance. Fees start at $20,000/year for assets up to $5M, scaling to $50,000+/year for $30M+. Additional $2,500 upfront planning fee. Fee structure designed to be cost-competitive versus percentage-based AUM models at higher asset levels.

Pricing tiers

Go-to-market motion2 records

Distribution channels2 records

Marketing channels5 records

Core offering

Manuka Financial provides flat-fee retirement planning, holistic financial planning, tax planning, and investment management services to a limited number of high-net-worth households. The integrated service combines personalized financial planning with passive, tax-efficient investment management delivered via Charles Schwab custody, Right Capital planning software, and Capitect performance reporting. Pricing is bracket-based (not percentage of AUM), starting at $20,000/year up to $5M AUM and scaling to $50,000+/year for $30M+, billed quarterly in advance.

Product overview

Manuka Financial is a flat-fee registered investment advisor offering a single integrated service that combines financial planning with investment management. The firm operates on a fixed bracket-based flat fee model (not a percentage of AUM), charging between $20,000 and $50,000+ per year depending on assets under management, with an upfront fee of $2,500 and quarterly billing. Their core offering is Financial Planning & Investment Management, which encompasses tax strategy, retirement income planning, investment management (focused on tax-efficient, low-cost passive strategies), insurance review, stock option evaluation, Social Security analysis, health care planning, estate planning coordination, and legacy/philanthropic planning. The firm manages approximately $218 million for 53 active households (as of 12/31/2025), serving clients with $2M–$30M+ in assets, primarily pre-retirees and those already retired, virtually nationwide from their Richmond, VA base.

Differentiator

Problem solved

Functional benefit

Products and services

• Financial Planning & Investment Management Comprehensive flat-fee advisory service combining financial planning with investment management for high-net-worth pre-retirees and retirees. Covers tax-efficient accumulation and withdrawal strategies, investment allocation and diversification, insurance and risk management, stock option evaluation (RSUs, PSUs, NQOs), Social Security planning, health care planning, legacy and philanthropic planning, and estate planning coordination. Accounts are monitored and rebalanced periodically with tax loss harvesting and volatility management. Accounts are custodied at Charles Schwab and accessed through the Right Capital Financial Planning Vault and Capitect performance reporting.

Quantifiable outcome

• Savings of $5,500/year for $3M portfolio vs typical 0.85% AUM fee
• +1 more outcomes

Named customers2 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration3 records

Feature3 records

Partnerships

Five partnerships are on record, tiered core and minor.

• Charles SchwabcoreTechnology or IntegrationCharles Schwab serves as the primary custodian for client investment accounts. Clients access accounts through Schwab's platform for holdings, transactions, and reporting.
• Right CapitalcoreTechnology or IntegrationRight Capital provides the Financial Planning Vault platform used by clients to view their financial plans, net worth, goals, and planning recommendations.
• Rachel Meredith (Banks Mountain Financial)coreStrategic or Co-development PartnerTax preparation partner specializing in individual and trust tax preparation. Integrates tax preparation with retirement and investment management services, provides timely tax projections throughout the year.
• Cooper Bradfish (VOS Team)minorImplementation/ SI/ Consulting PartnerClient Service Associate providing support to Manuka Financial clients.
• Lisa Fajgenbaum / USI Insurance ServicesminorStrategic or Co-development PartnerPrivate Risk Advisor who has assisted Manuka clients with property and casualty insurance reviews as clients accumulate assets.

Scale indicators6 records

Recent moves6 records

Expansion highlights4 records

Direct peers

• Facet Wealth: Tech-enabled flat-fee RIA serving HNW and mass-affluent clients virtually. Closest direct competitor to Manuka on the fee structure, virtual delivery model, and target demographic.
• Buckingham Strategic Wealth: Fee-only, flat-fee RIA emphasizing fiduciary, evidence-based investing with tax and estate planning — directly comparable service mix and philosophy to Manuka.
• Carson Wealth: Flat-fee RIA group serving HNW households with holistic financial planning and investment management — comparable service scope, pricing model, and household focus.
• Allworth Financial: Fee-only flat-fee RIA focused on retirement planning and HNW households — directly competes with Manuka in the retirement-income, tax-aware planning niche.

Broad incumbents

• Edelman Financial Engines: Among the largest U.S. RIAs with a flat-fee, planning-led model for retirement-age households — operates at vastly greater scale than Manuka but on a similar fee philosophy.
• Empower (Personal Capital): Large hybrid RIA combining digital tools with human advisors for HNW retirement planning — overlaps with Manuka's HNW retirement segment but at much larger scale and lower price points.
• Fisher Investments: Large independent RIA managing portfolios primarily for HNW and institutional clients — overlaps in target market and managed-account services but with a more centralized investment-only orientation.
• Creative Planning: Large fee-only RIA providing holistic financial planning, tax, and investment management — broader portfolio and scale, but functionally comparable to Manuka's offering.

Emerging players

• Wealthfront: Digital-first RIA offering automated, low-cost investment management and planning for mass-affluent and HNW clients — competes for the same pre-retiree segment at materially lower fees.
• Betterment: Tech-enabled RIA offering goal-based planning, tax-loss harvesting, and retirement accounts — adjacent competitor targeting younger pre-retirees with a digital-only, lower-cost model.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/manuka-financial

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 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 Manuka Financial