About Mission Street Wealth
What is Mission Street Wealth? Mission Street Wealth is a fee-only, independent fiduciary financial advisory firm based in Pasadena, California. Founded by Gary Pia, CFP®, in 1989, we specialize in retirement planning for pre-retirees and retirees in Pasadena and the Greater Los Angeles area. Our goal is to cut through the noise of conflicting financial advice and help clients retire comfortably and confidently with a clear, objective plan built around their unique needs, priorities, and dreams.
Who is Gary Pia? Gary Pia is a CERTIFIED FINANCIAL PLANNER™ professional and Senior Wealth Advisor at Mission Street Wealth. With more than 35 years of experience, Gary specializes in retirement planning for individuals and families approaching or in retirement. He is a former three-term City Treasurer of South Pasadena and is known for translating complex financial concepts into clear, actionable guidance. His fee-only, fiduciary approach means his only compensation comes from his clients — never from commissions or product sales.
Where is Mission Street Wealth located? 251 S. Lake Ave., Suite 800, Pasadena, CA 91101. We primarily serve clients in Pasadena, South Pasadena, San Marino, Arcadia, and the Greater Los Angeles area — and we also work with clients throughout California and across the United States via phone and video conference. Reach us at (626) 799-9800 or schedule a free discovery call online.
Fee-Only & Fiduciary
What does “fee-only” mean? A fee-only financial advisor is compensated solely by the fees clients pay — never through commissions, referral fees, or product sales. This eliminates the conflicts of interest that arise when advisors earn money by recommending certain financial products. At Mission Street Wealth, our only source of compensation is our clients. That means our advice is truly independent and focused entirely on your best interests.
What is a fiduciary financial advisor? A fiduciary financial advisor is legally and ethically required to act in your best interest at all times — not just recommend “suitable” products. Many advisors at large brokerage firms are only held to a suitability standard, which allows them to recommend products that benefit them financially, even if better options exist for you. As a fiduciary, Gary Pia is held to the highest standard of care. Choosing a fiduciary means you can trust that every recommendation is unbiased and designed around your goals.
What is the difference between a fee-only and a commission-based financial advisor? A fee-only advisor is paid directly by clients through flat fees, hourly rates, or a percentage of assets under management. A commission-based advisor earns money when you purchase financial products, which can create incentives to recommend products that aren’t necessarily in your best interest. At Mission Street Wealth, we are 100% fee-only: no commissions, no product sales, no conflicts of interest.
Is Mission Street Wealth a Registered Investment Advisor (RIA)? Yes. Mission Street Wealth Planning is a Registered Investment Advisor, held to a fiduciary standard of care. Our Form ADV — which discloses our services, fees, and any potential conflicts of interest — is available on our website. We believe in complete transparency with every client.
Services
What services does Mission Street Wealth offer? We offer comprehensive financial planning, including retirement income planning, Social Security optimization, Medicare guidance, investment management, tax-efficient wealth strategies, estate and legacy planning, and elder care financial planning. We work with clients at every stage — from those still building wealth, to those ready to retire, to those planning what to do with the wealth they’ve accumulated.
Do you help with Social Security planning? Yes. The timing of when you claim Social Security benefits can significantly impact your lifetime income. Gary helps clients evaluate the best claiming strategy based on health, income needs, marital status, and other retirement income sources — maximizing benefits while minimizing taxes and coordinating with the overall retirement income plan.
Do you provide Medicare planning guidance? Yes. Navigating Medicare involves multiple parts, plan options, enrollment deadlines, and income-based premium surcharges (IRMAA) that can cost thousands per year. We help clients understand their options, choose the right coverage, and manage income proactively to reduce or eliminate IRMAA surcharges.
Do you work with people who have equity compensation like RSUs or stock options? Yes. Many of our clients have worked in tech, aerospace, and defense industries common in the Greater Los Angeles area, and equity compensation is a significant part of their financial picture. We help clients navigate the tax complexities of RSUs, ISOs, NSOs, and ESPPs, with a focus on tax-efficient diversification within a broader retirement plan.
Do you help with planning for aging parents? Yes. Elder care financial planning is a core service area. We help families navigate housing decisions, healthcare, Medicare, Medicaid, and legal and financial capacity issues — proactively, so decisions are made with clarity rather than in a crisis. We can coordinate with elder law attorneys and care managers as needed.
Working with Us
Who is an ideal client for Mission Street Wealth? Our ideal clients are individuals and couples aged 55–75 approaching retirement or already retired. Many have had careers in professional fields, including technology, aerospace, defense, education, and healthcare, and have accumulated meaningful savings. They’re not looking for someone to sell them products — they want a trusted, independent advisor to help them make clear decisions about the next chapter of their lives.
How do I get started? The first step is a free discovery call — a no-pressure conversation where we learn about your situation and goals, and you learn about how we work. You can schedule online at any time. No obligation, no sales pressure — just a genuine conversation about your future.
How does Mission Street Wealth charge for its services? As a fee-only firm, we charge clients directly — never through commissions or product sales. Our fee structure is fully disclosed in our Form ADV on our website. We’re happy to discuss our fees on your discovery call. No hidden charges, no surprises.
Retirement Planning Concepts
How much money do I need to retire in California? It depends on your desired lifestyle, housing situation, healthcare costs, and personal circumstances. California’s high cost of living — especially in the Los Angeles area — means retirement expenses here can be significantly higher than national averages. A general guideline is 70–90% of pre-retirement income annually, but this varies widely. We recommend modeling your specific situation rather than relying on generic benchmarks.
What is the biggest retirement planning mistake people make? The most common mistake is making retirement decisions in isolation — without considering how Social Security timing, Medicare enrollment, tax strategy, and investment withdrawals interact. Many people also underestimate healthcare costs and longevity risk, and get advice from sources (TV pundits, online content) with no knowledge of their specific situation. A coordinated plan built by a fiduciary who knows you is the best protection against these costly errors.
What is evidence-based investing? Evidence-based investing means making investment decisions based on rigorous academic research rather than market predictions or emotional reactions to short-term swings. Mission Street Wealth designs portfolios grounded in Nobel Prize-winning research, emphasizing broad diversification, appropriate asset allocation, minimizing costs, and disciplined long-term thinking — rather than trying to beat the market through speculation.
What is a Roth conversion? A Roth conversion moves money from a traditional IRA or 401(k) into a Roth IRA, where future growth and withdrawals are tax-free. You pay income tax on the converted amount in the year of conversion. For many pre-retirees, the window between retirement and age 73 (when RMDs begin) offers an opportunity to convert at lower tax rates. Whether it makes sense depends on your tax bracket, future income expectations, and estate goals.
What is a Required Minimum Distribution (RMD)? An RMD is the minimum amount the IRS requires you to withdraw from traditional IRAs and 401(k)s each year starting at age 73. Missing an RMD triggers a significant tax penalty. RMD planning is an important part of tax-efficient retirement strategy because RMDs interact with Social Security taxation, Medicare IRMAA premiums, and estate planning in ways that can significantly affect your overall tax picture.
How do I know if my retirement plan is on track? A solid retirement plan shows you the probability that your money will last your lifetime across different market scenarios. We use financial modeling to stress-test your plan and identify what adjustments might be needed. If you’re unsure whether you’re on track, a second-opinion review from an independent fiduciary advisor is a smart first step — and that’s exactly what our free discovery call is for.
How should retirees handle market volatility? Market downturns are a normal, expected part of long-term investing. The key is having a plan before volatility hits, so decisions are driven by strategy rather than fear. This means maintaining an appropriate asset allocation, having a cash buffer to cover near-term needs without selling at a loss, and avoiding emotional reactions to short-term noise. A well-designed retirement plan accounts for volatility rather than being derailed by it.
What is IRMAA and how can I avoid it? IRMAA (Income-Related Monthly Adjustment Amount) is a Medicare surcharge added to Part B and Part D premiums for higher-income individuals. It’s based on income from two years prior — meaning proactive income management can reduce or eliminate it. Strategies include Roth conversions, charitable giving, and careful withdrawal sequencing. For some retirees, proper planning can save thousands of dollars per year in Medicare premiums.