Lazetta Braxton and Rianka Dorsainvil Launch ‘Fully Virtual’ Firm

Jake Martin at CityWire's RIA writes on how Lazetta & Rianka plan to use video conferences and fixed annual fees to attract and serve a young client base.


Advisors Lazetta Rainey Braxton (pictured right) and Rianka Dorsainvil (pictured left) have combined their practices to form a ‘fully virtual’ financial planning firm called 2050 Wealth Partners. Their sights are on meeting transient mass affluent and high net worth clients where they are.


Braxton, founder of New York City-based Financial Fountains, and Dorsainvil, founder of Lanham, Maryland-based Your Greatest Contribution, are both certified financial planners (CFPs).


‘I didn’t want to build a practice alone,’ Dorsainvil said. ‘But I was going to wait until I found a partner who had the passion, the intentionality and purpose behind what it means to be a comprehensive financial planner.’


Dorsainvil said that soon after she launched Your Greatest Contribution in 2015, she realized that Braxton could be that partner. She said they had been ‘courting’ one another professionally for a number of years.


Braxton, who founded her firm in 2008, said many members of the mass affluent and high net worth segment that made up the bulk of her original client base weren’t familiar with paying out of pocket for financial advice.


She said she was just starting to see people interested in meeting planners virtually when she first met Dorsainvil and took notice of her virtual approach to serving digitally-savvy millennial clients who had been underserved by traditional firms.


'We are meeting clients where they are,' Dorsainvil said. Millenials 'are high earners, not rich yet [a category known as HENRYs], so we have to take an alternative approach to how we charge these clients and also how we meet with them.'


Read the full article on RIA.