Lazetta Rainey Braxton and Rianka R. Dorsainvil talk with Ginger Szala at ThinkAdvisor about forming an online advisory firm for Gen Xers and millennials.
The U.S. Census Bureau has projected that people of color will make up the majority of the U.S. population by 2050. To celebrate and highlight this change, Lazetta Rainey Braxton, 46, and Rianka R. Dorsainvil, 32, two proud women of color, have merged their solo advisories into a new virtual firm, 2050 Wealth Partners.
Although both women have traveled diverse paths at least a decade apart, their similarities drew them together. Both have tenacity to overcome obstacles, both have empathy to help others and both have a passion for the business. They also understand the benefit of their Gen X/millennial age link in helping clients.
Six years ago, Dorsainvil, who had just spent four years working in wealth management “in the corporate world” began to wonder, “is this profession for me?”
“I loved what I was doing. I loved working with clients, [but] I was just hitting some roadblocks with [my] current firm,” Dorsainvil said.
She had grown frustrated that friends from college who were “hitting their stride” wanted to hire her as a financial planner (“I was that person,” she says of being the one who educated her friends in college on their finances).
The problem was, her firm had a minimum of $1 million in investable assets, which her friends had yet to accumulate.
She connected with Eleanor Blayney, a chief consultant of the Certified Financial Planner Board of Standards, who advised her not to leave the profession, saying, “You need to meet Lazetta Rainey Braxton.”
Read the full article on ThinkAdvisor.