So the way you service them is extremely high-touch. But they have less time and are in a pressured work environment. What’s different about super-high-level millennials, and do you use a special approach to serve them?Ĭertainly their incomes are higher, which means they’re able to achieve their goals more quickly. Maybe it’s called financial independence … If millennials are unabashed creators and constant disruptors, our ultimate goal should be to achieve something greater than doing nothing.” And what he has smartly written about it is thus: “Maybe retirement is not retirement at all. Though he is decades away from retiring himself, as an advisor he often brings the topic of retirement to the forefront. ThinkAdvisor recently interviewed Douglas, on the phone from his office in New York’s financial district. Last summer, he published “ The Millennial Money Fix” (Career Press), co-written with his attorney wife, Heather J. At Stern, networking industriously with like-age classmates, he soon decided it was the millennial demographic on whom he would now focus. Recently, he was seen providing commentary on the CNBC-produced “Nightly Business Report,” which airs on public TV, and NBC-New York news.īy the time he entered NYU Stern School of Business part time to earn an MBA, Boneparth had notched eight years’ experience as an advisor. The genial MBA cuts a dashing figure in finely tailored suits, colorful ties and stylish pocket squares. In their early- to mid-30s, Boneparth’s clients include freshly minted law firm partners, investment bank and private equity shop directors, and emerging entrepreneurs, all of whom need help with their personal finances and investing. While there is a growing, though small, number of millennial FAs serving millennials, few are developing a practice built upon a clientele of high-achieving, affluent millennial professionals. He is now the Financial Planning Association of New York’s NexGen director and the CFP Board ambassador for New York. Newly named as a millennial voice of CNBC’s Digital Financial Advisor Council, Boneparth, founder of indie boutique Bone Fide Wealth, was a fully licensed Certified Financial Planner at age 21. How is he crushing it - and in fiercely competitive New York City, at that? Boneparth talked to ThinkAdvisor in an interview. Boneparth, 33, with $75 million in AUM, is catering to super-high-level millennials making $400,000 to $1.2 million a year.
Here’s a talented next-gen financial advisor who’s changing the game, if not leading the charge: Douglas A.
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