Not Your Father's Financial Advisor

August 13, 2015

[This article originally appeared in our August issue of ETF Report.]

Gen Y Planning isn't your typical registered investment advisor. For starters, as the name suggests, the firm focuses on investors between the ages of 25-35, with only a handful of clients over the age of 40. There's also no minimum asset level required. "I can help clients at any asset level," said Sophia Bera, founder.

How does she make it work? By charging a monthly subscription fee for her services, then by partnering with a robo advisor for portfolio construction. "Robo advisors are a really great way to serve younger clients and the middle market profitably," she noted. Her setup also allows her to take on clients from around the country; although Gen Y is based in Minneapolis, Minnesota, most of the work happens online.

It's a next-generation business model for the next-gen investor, says Bera, who worked at several traditional financial advisories before starting her own registered investment advisory service in 2013. And the industry is taking notice: Recently, InvestmentNews named Bera as one of its Top 40 Under 40, while Financial Advisor Magazine named her one of their 10 Young Advisors to Watch.

ETF Report recently caught up with Bera to talk shop about all-ETF portfolios, robo advisors and how best to serve the next generation of wealth-makers.

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