About Next Gen Financial Planning · San Diego
Next Gen Financial Planning, LLC (NGFP) is a fee-only, fiduciary Registered Investment Adviser based in San Diego, California, founded in 2016 by Steven Fox, CFP®, EA. The firm specializes in comprehensive financial planning and discretionary investment management for high-earning young professionals in their 20s through 40s — a demographic they say traditional advisors often overlook. They serve clients nationwide via virtual Zoom meetings while maintaining their headquarters in San Diego, and they are members of NAPFA, the XY Planning Network, and the Financial Planning Association.
Next Gen Financial Planning, LLC was formed on January 4, 2016 by Steven Fox, a former U.S. Marine Corps officer turned CERTIFIED FINANCIAL PLANNER™ professional. Initial registration as an Investment Adviser with the State of California was approved on June 23, 2016 (SEC IARD/CRD# 283233). The firm grew out of Fox's observation that young professionals — students, early-career earners, new families, and other 'next gen' clients — were being underserved by traditional commission-driven advisors, so he built a fee-only practice with transparent flat fees instead of asset-under-management commissions. As reported in their Form ADV (March 2024), NGFP holds roughly $28.9 million in discretionary assets under management (more recent third-party data puts it near $33.3 million). The firm provides both ongoing and project-based financial planning plus investment management, with no account minimums and a stated maximum of $500 charged more than six months in advance. Ongoing services run $1,500–$15,000 per year, billed monthly or quarterly; project-based plans have an initial fee of $0–$5,000; additional hourly work is $300/hour; and a tiered AUM fee schedule (0.5%/0.4%/0.3%) also applies to accounts above $2M. In August 2024 founder Steven Fox stepped back from day-to-day operations to take an advisory role and is now President of AdviceOnly, a support platform for advice-only advisors. The active leadership team is Managing Partners Rafael Melendez, CFP®, CSLP® and Josue Luque, CFP®, plus Tax Manager Ray Pryor, EA. NGFP subscribes to the Institute for the Fiduciary Standard's 'Real Fiduciary™ Practices' and adheres to NAPFA's Fiduciary Oath and the CFP Board's Code of Ethics. They serve clients nationwide through Zoom but welcome in-person meetings at their San Diego office.
- In business
- Founded January 4, 2016; registered with California June 23, 2016 (approx. 9 years as of 2025)
- Owner
- Steven Charles Fox, CFP®, EA — Founder (now External Advisor, part-time advisory role since August 2024); previously principal owner of NGFP per Form ADV
- Serves
- San Diego, California (headquarters) and clients nationwide via virtual Zoom meetings; LinkedIn lists 4 office locations in the San Diego area (1455 Frazee Rd Ste 543 and 2550 5th Ave Ste 700, plus prior addresses at 2020 Camino Del Rio N Ste 215)
- Rating
- 5.0 (12 reviews on Birdeye, sourced from Google + Yellow Pages); AllBiz lists 5.0 with 10+ reviews
About Next Gen Financial Planning
Next Gen Financial Planning, LLC (NGFP) is a fee-only Registered Investment Adviser headquartered at 1455 Frazee Road, Suite 543, in San Diego, California. According to the firm's Form ADV, NGFP was formed on January 4, 2016 and received its initial California investment-adviser registration on June 23, 2016 (CRD# 283233). The firm describes itself as 'fee-only financial planning and investing for the next generation,' focusing on high-earning professionals in their 20s through 40s who are often overlooked by traditional advisors. NGFP serves clients nationwide through virtual Zoom meetings, while in-person meetings remain available at its San Diego office.
Mission and Fiduciary Standards
NGFP positions itself around the slogan 'We're not your father's financial planner.' The firm operates under a strict fiduciary model: as a fee-only RIA, it accepts no commissions, kickbacks, or referral fees, and every planner on the team is either a CERTIFIED FINANCIAL PLANNER™ professional or actively pursuing the designation. NGFP has subscribed to the 'Real Fiduciary™ Practices' published by the Institute for the Fiduciary Standard and adheres to the NAPFA Fiduciary Oath and the CFP Board's Code of Ethics.
- Fee-only, no commissions accepted
- Transparent flat-fee pricing
- Fiduciary Oath (NAPFA)
- CFP Board Code of Ethics
- Institute for the Fiduciary Standard – Real Fiduciary™ Practices subscriber
Services Offered
The firm's planning work covers seven core topic areas that they say most clients need help with. These are bundled into an ongoing retainer so the plan stays current, or can be delivered as a one-time project or on an hourly basis. The firm also offers educational seminars to businesses and organizations on an 'as announced' basis, with some sessions provided pro bono.
- Tax Planning
- Estate Planning
- Investing (passive, broadly diversified, low-cost, tax-smart)
- Insurance Review (life, disability, health, long-term care, homeowners, umbrella, auto)
- Student Loans (refinancing, PAYE, ICR, PSLF, SAVE)
- Cash Flow & Debt Management
- Retirement, College Savings, Equity Compensation, Employee Benefits
Investment Philosophy
Next Gen Financial Planning is committed to a passive investment philosophy. Portfolios are 'broadly diversified, low-cost, tax-smart, research-backed, and easy to understand,' built primarily from low-cost index mutual funds and ETFs with periodic rebalancing. The firm does not charge performance-based fees and refuses to set up side-by-side fee structures. There are no account minimums, and ongoing investment management is bundled at no additional charge with the firm's flat-fee planning retainer.
- Passive, evidence-based investment approach
- Modern Portfolio Theory foundation
- Index mutual funds and ETFs
- Periodic rebalancing
- No account minimums, no hidden costs
- No performance-based fees
Fees and Pricing
NGFP uses transparent, flat-fee pricing rather than tying compensation to portfolio size. According to the firm's Form ADV (March 2024), the ongoing financial-planning and investment-management retainer ranges from $1,500 to $15,000 per year, billed monthly or quarterly. Project-based engagements charge $0–$5,000 upfront; hourly work is $300/hour. NGFP will not bill any client more than $500 for services rendered more than six months in advance. For accounts above the flat-fee threshold, an AUM tier applies (0.5% up to $2M, 0.4% up to $4M, 0.3% above).
- Ongoing retainer: $1,500–$15,000/year
- Project-based: $0–$5,000 initial fee
- Hourly: $300/hour
- AUM tier (where applicable): 0.5% / 0.4% / 0.3%
- Fees negotiable based on complexity
Meet the Team
NGFP's leadership transitioned in 2024 when founder Steven Fox passed day-to-day operations to his partners. The current team includes two Managing Partners who are CFP® professionals, plus a Tax Manager who is an Enrolled Agent. The firm publicly notes that every planner on the team either holds the CFP® designation or is actively working toward it.
Steven Fox, CFP®, EA — Founder / External Advisor
Steven Fox founded Next Gen Financial Planning in 2015–2016 and led it until passing the torch in August 2024. He now serves in a part-time advisory role while serving as President of AdviceOnly (a support platform for advice-only advisors), Co-Founder/Partnership Manager of Next Gen Tax Prep, founder of the San Diego Financial Advisors Network, and a past President of the San Diego chapter of the Financial Planning Association. He is a member of NAPFA and serves as Treasurer and Volunteer Coordinator for the non-profit Financial Independence Training, which provides pro-bono financial education and counseling to active-duty military. Prior to financial planning, Fox served more than 8 years on active duty in the United States Marine Corps before earning a bachelor's degree in financial services (with honors), a personal financial planning certificate, and a minor in entrepreneurship from San Diego State University.
- CERTIFIED FINANCIAL PLANNER™ (CFP®)
- Enrolled Agent (EA)
- Former U.S. Marine Corps officer (8+ years)
- San Diego State University, B.S. Financial Services (with honors)
- Founder, San Diego Financial Advisors Network
- Past President, FPA – San Diego Chapter
Rafael Melendez, CFP®, CSLP® — Managing Partner / Financial Planner
Rafael Melendez is a Managing Partner and Financial Planner at NGFP. He earned a Bachelor of Science in Financial Services and a Certificate in Personal Financial Planning from San Diego State University (2018) and holds the Certified Student Loan Professional (CSLP®) designation from The CSLA Institute. He serves on the Programs Committee of the FPA San Diego Chapter and is a member of NAPFA, XYPN, the Financial Planning Association, and the CSLP Board of Standards. His areas of expertise include goal planning, student loan planning, equity compensation, tax planning, planning for new families, young professionals, and cash flow planning. He is licensed as an Investment Adviser Representative (Series 65).
- B.S. Financial Services, SDSU (2018)
- CERTIFIED FINANCIAL PLANNER™ (CFP®)
- Certified Student Loan Professional (CSLP®)
- Series 65 – Uniform Investment Adviser Law Exam
- Programs Committee, FPA San Diego Chapter
Josue Luque, CFP® — Managing Partner / Financial Planner
Josue Luque De Julio is a Managing Partner and Financial Planner at NGFP, having joined as a Paraplanner/Operations Assistant in April 2020 before becoming a Financial Planner and Investment Advisor Representative in July 2022. He holds a B.S. in Financial Services and a Certificate in Personal Financial Planning from San Diego State University (2020). Before NGFP, he worked at The Wealth Consulting Group, Capital Financial Consultants Group (intern), and Wells Fargo (teller). He is a CERTIFIED FINANCIAL PLANNER™ professional and is based in the Poway, California area.
- CERTIFIED FINANCIAL PLANNER™ (CFP®)
- B.S. Financial Services, SDSU (2020)
- Joined NGFP in 2020 as Paraplanner
- Member, FPA, NAPFA, XYPN
Ray Pryor, EA — Tax Manager
Ray Pryor is the firm's Tax Manager and an Enrolled Agent. He supports NGFP clients with tax preparation and planning in coordination with the firm's CFP® team, including work that flows through the affiliated Next Gen Tax Prep practice.
- Enrolled Agent (EA)
- Tax Manager / Director of Operations
The Next Gen Planning Process
NGFP outlines a seven-principle philosophy that shapes every client engagement. Rather than optimizing for maximum net worth, the firm says it optimizes 'for maximizing life impact and the probability of accomplishing the things that are most important to you.' Plans are described as centered on real people, values-driven, focused on questions that matter, thorough, action-oriented, tech-empowered, and ongoing.
- Centered around real people, not just numbers
- Values-driven (the client's, not the firm's)
- Focused on questions that actually matter
- Thorough
- Action-oriented
- Tech-empowered (Zoom, online banking)
- Ongoing, not one-and-done
Who NGFP Serves
The firm's ideal client profile centers on busy, high-earning young professionals who feel overwhelmed by financial decisions but want to balance today's needs with tomorrow's dreams. The website lists examples of the kind of questions the team helps clients answer.
- Professionals in their 20s through 40s
- Eager to learn and act on improving their financial life
- Comfortable with Zoom and online banking
- Seeking personalized, fiduciary service
- Working professionals with variable income (bonuses, commissions, equity comp)
- People navigating life changes — marriage, babies, home purchase, starting a business
- Clients facing decisions around student loans, investing, tax planning, insurance
Client Reviews and Reputation
Independent review platforms show consistently strong feedback. Birdeye aggregates a 5.0 rating across 12 reviews drawn from Google and Yellow Pages, and AllBiz reports 5.0 stars with 10+ reviews. Testimonials posted on the firm's own website emphasize the value of fee-only advice, patience, attention to detail, and clear explanations of complex topics.
- 5.0 / 12 reviews on Birdeye (Google + Yellow Pages)
- 5.0 / 10+ reviews on AllBiz
- Testimonials highlight fee-only transparency and clear explanations
Community and Pro-Bono Involvement
The firm says it is 'proud to support the organizations that help our clients, communities, team, profession, and world to thrive.' Founder Steven Fox has served as Treasurer and Volunteer Coordinator for the non-profit Financial Independence Training, which provides pro-bono financial education and one-on-one counseling to active-duty military members. NGFP also periodically offers pro-bono or employer-sponsored educational seminars.
- Pro-bono financial education for active-duty military
- Educational seminars for businesses and organizations
- Volunteer leadership in FPA San Diego and NAPFA
Contact and Office
NGFP's main office is located at 1455 Frazee Road, Suite 543, San Diego, CA 92108. The team can be reached by phone, email, or the website's contact form. Most meetings are conducted virtually over Zoom; the firm serves clients nationwide.
- 1455 Frazee Rd, Suite 543, San Diego, CA 92108
- Phone: (619) 363-5187
- Email: steven@nextgenfinancialplanning.com
- Rafael: rafael@nextgenfinancialplanning.com / (619) 273-3561
- Josue: josue@nextgenfinancialplanning.com / (619) 259-0584
- Ray: ray@nextgenfinancialplanning.com