Charles Paiket at Financial Planning chatted with Rianka and Lazetta about 2050 Wealth Partners' vision and mission.
Clients whose age, income, gender or ethnicity may have kept advisors from recruiting them have a new option: Two prominent female advisors, Lazetta Rainey Braxton and Rianka R. Dorsainvil, are joining forces to form a new virtual advisory firm, 2050 Wealth Partners.
Braxton, the chair of the Association of African American Financial Advisors, has headed her own RIA, Financial Fountains, since 2008. Dorsainvil, a podcast host, diversity advocate and popular industry speaker, founded her advisory firm, Your Greatest Contribution, in 2015.
In addition to entrepreneurs and professionals, 2050 is targeting clients who have been “overlooked” by advisory firms, Dorsainvil says, including first-generation wealth builders.
“We want to meet people where they are on their life’s journey towards amassing wealth,” says Braxton, “and we don’t want location, assets or age to be a barrier.”
Consequently, Braxton and Dorsainvil will work out of their home offices in New York and suburban Washington, D.C., respectively, and collaborate with clients around the country via video interaction on Zoom.
The advisors will meet clients in person with one stipulation: “We don’t talk business,” Dorsainvil says. “It’s just for pleasure.”
To encourage more inclusivity and diversity among their client base, Braxton and Dorsainvil are using a retainer fee model to encourage young and first-generation wealth builder prospects to work with 2050. The firm charges $4,500 as an annual retainer and switches over to a percentage of AUM model when clients’ assets rise accordingly.
Read the full article at Financial Planning.