When he and his wife moved to Las Vegas several years ago for her to attend a university program, a handful of his wealth planning clients and 110 tax clients stuck with him. Later, more wealth planning clients trickled in from his former East Coast practice. He discovered that clients don’t mind the distance and that he enjoys working virtually.
“I’m no longer bound by ZIP code,” said Rosa, founder of Build A Better Financial Future LLC, a virtual firm with clients in nine states. His clients are typically Gen Xers with $150,000 in investible assets plus 401(k) plan assets.
Rosa, a fee-only advisor, believes virtual practices with monthly fees resonate with younger clients who need help budgeting, paying off student debt, buying a house, planning for a wedding or baby, and understanding 401(k) plans. He’s a member of a virtual study group with other FPA NexGen advisors and suggests that virtual advisors find other advisors with whom they can share best practices.