Mergers have been the name of the game so far this year, and this continues to be a growing trend across the industry. And it’s not just large firms that are merging. Partnerships between smaller firms are on the rise—and they’re creating great opportunities for advisors.
Co-founded by Lazetta Braxton and Rianka Dorsainvil, two of Investopedia’s Top 100 Advisors, 2050 Wealth Partners is one such partnership. Developed with the goal of serving a wide range of clients, the fully virtual firm is designed to help clients create the lives and legacies they want.
Following the announcement of the firm’s launch, Braxton and Dorsainvil offered insights on their partnership, their goals for the future, and some of the opportunities that lie ahead.
Developing a Strong Partnership
One of the keys to a successful partnership is a shared set of values. “I never wanted to launch my firm by myself but I was going to wait until I found someone who was as passionate about comprehensive financial planning as I was,” says Dorsainvil, emphasizing how she and Braxton came up with the idea behind 2050 Wealth Partners.
“We were both solo practitioners with a deep passion for financial planning and serving client segments that were typically overlooked by Wall Street,” adds Braxton. After several years of collaborating through professional organizations, the two decided to bring their talents together to form a partnership that would allow them to serve a broader range of clients.
The Value of a Virtual Practice
As the firm began to take shape, Braxton and Dorsainvil realized that the best way for them to make it as inclusive as possible was to create a fully virtual practice. “Access to financial planning is really the core of what we believe in, and the virtual model supports that,” says Braxton. “Many clients don’t have the opportunity to leave their offices, or they’re balancing other family demands, and we want to make it easy for them to engage with their finances.” By creating a virtual practice, Dorsainvil and Braxton can overcome a lot of the barriers that individuals face when deciding to work with an advisor—from finding the right firm to fitting appointments into their schedule.
And that’s just the beginning. As the firm grows, the founders are hoping to offer opportunities to other advisors looking to develop their careers. “With our firm being 100% virtual, we’re able to hire people who aren’t necessarily local to us,” says Dorsainvil, explaining that this includes advisors who may otherwise be overlooked.
The Bottom Line
As the firm grows, Braxton and Dorsainvil want to uphold their mission of fully addressing clients’ financial needs. “We often say that we like to meet clients where they are, and it’s not just physically, it’s also where they are in life,” says Braxton. As they look to the future, and their goals for the coming years, both founders are looking forward to creating a diverse and inclusive firm that will serve clients at any stage of life.