In 2020, future advisor Rianka Dorsainvil merged her financial planning practice with that of financial planner Lazetta Braxton to create the registered investment adviser firm 2050 Wealth Partners. This week, the two have split from each other, launching their own RIAs.
Dorsainvil said that when she returned from maternity leave in December 2023, the women decided to distribute the RIA at the end of this month.
“When Lazetta and I wrote our respective practices to form 2050 Wealth Partners in 2019, it was a groundbreaking move in the field of Black RIAs,” she said. “Our mission was to inspire and guide motivated individuals to design the lives and legacies they deserve; we have delivered on that promise and now look forward to continuing that promise in our separate ventures.”
Dorsainvil, a prominent certified financial planner and advocate for diversity in the industry, has launched YGC Wealth, a “comprehensive, culturally competent and technologically competent financial planning firm,” she said in a statement.
Before joining BraxtonDorsainvil directed Your Largest Contribution (YGC Planning), which she founded in 2015. Braxton directed Financial Fountains.
Dorsainvil's new firm, which will operate virtually, will use Charles Schwab and Altruist for custody, according to a filing. She has brought over 35 families with approximately $10 million in AUM. It uses a combination of an annual retainer and an asset-based fee.
It is a tribute to your greatest contribution and represents his comprehensive wealth management capabilities, she said.
“This new venture also allows me to explore emerging areas and opportunities that are close to my heart, including supporting mom entrepreneurs who are juggling complex business structures, first-generation wealth builders and thriving professionals who are thriving in their careers, but finding they struggle. to reduce financial stress and make the most of their wealth,” she said.
Dorsainvil is a well-known industry speaker, podcast host, and advocate for women and minorities in the financial planning field. She is also a CFP Pro spokesperson on the CFP Board's Center for Financial Planning campaign to educate women and minorities about the profession. She has active roles on CNBC's Council of Digital Financial Advisors and CFP's Board Diversity Advisory Group. She was named one by WealthManagement.com Ten to watch in 2018.
Meanwhile, Braxton has created The Real Wealth Coterie, an RIA in New Haven, Conn. She is joined by Madisen Karlson, a principal financial planner at 2050 Wealth Partners. The RIA will also use Schwab and Altruist for custody, according to a regulatory filing.
The firm will provide financial planning for individuals as well as strategic business financial planning services for sole proprietors and small businesses. It will also provide consultancy services to charities.
Braxton is also a sought-after speaker and advocate for diversity in the financial services community. She runs her own consulting and coaching firm, Lazetta & Associates. She is a frequent contributor to WealthManagement.com.