Niche Advisor Catering to Travel Lovers

February 28th, 2022, 1:21 PM

Jake Northup, Founder of Experience Your Wealth, a Rhode Island-based financial planning practice that targets people similar to himself. Northup does not believe in the rigors of a 9-to-5 or that student loan debt should prevent people from experiencing life. 

Northup launched his advisory firm in 2019 to help "travel-loving families" that are not married to the idea of 9-to-5, work until they are 65 lifestyles. Northup realized he wanted to work with people who share his values. His passion for travel is the niche, but according to Northup, it is also a metaphor for a lifestyle that strays from traditional notions of success and career paths. 

Across Northup's 50 clients the average age is 37, 80 percent have children, and the average household income is $250,000. Their needs generally fall within the following three categories: (1) they are paid some form of equity compensation, (2) they are business owners, (3) or they have more than $100,000 worth of student loans. According to InvestmentNews, Northrup's fee model is based on a formula factoring in net worth and income, with annual fees ranging from $5,000 to $20,000. The average annual fee is $6,000.

Financial Advisor Transitions consults advisors nationwide to explore employment transition options and to preserve and protect their practice in any transition that they make.

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Blog

Niche Advisor Catering to Travel Lovers

February 28th, 2022, 1:21 PM

Jake Northup, Founder of Experience Your Wealth, a Rhode Island-based financial planning practice that targets people similar to himself. Northup does not believe in the rigors of a 9-to-5 or that student loan debt should prevent people from experiencing life. 

Northup launched his advisory firm in 2019 to help "travel-loving families" that are not married to the idea of 9-to-5, work until they are 65 lifestyles. Northup realized he wanted to work with people who share his values. His passion for travel is the niche, but according to Northup, it is also a metaphor for a lifestyle that strays from traditional notions of success and career paths. 

Across Northup's 50 clients the average age is 37, 80 percent have children, and the average household income is $250,000. Their needs generally fall within the following three categories: (1) they are paid some form of equity compensation, (2) they are business owners, (3) or they have more than $100,000 worth of student loans. According to InvestmentNews, Northrup's fee model is based on a formula factoring in net worth and income, with annual fees ranging from $5,000 to $20,000. The average annual fee is $6,000.

Financial Advisor Transitions consults advisors nationwide to explore employment transition options and to preserve and protect their practice in any transition that they make.

Return to All