Financial planners Anna N’Jie-Konte and Keith Beverly have merged practices in hopes of becoming the first Black-owned-registered investment advisory firm with $1 billion in client assets, according to an article from Financial Planning Magazine.

The partnership could allow the new firm — Re-Envision Wealth — to boost its size more than 15 times its current asset level of $65 million through recruiting, mergers and acquisitions, and organic growth.

“We are democratizing access to wealth and financial advice and knowledge and giving that to those who have been overlooked by our business,” N’Jie-Konte told Financial Planning. “They haven’t been advised by a person who has the same lived experiences as them or who has their same values.”

Re-Envision Wealth launched on Juneteenth (June 19). Earlier this year, N’Jie-Konte, the creator behind Dare to Dream Financial Planning, joined Grid 202 Partners, a company based in Washington, D.C., run by Beverly.

While some Black-owned asset management companies have assets over $1 billion, there are no Black-founded RIAs with a concentration on planning and wealth management, according to Financial Planning.

Beverly said that the company will look to reach a range of clients, including young people, foundations, endowments, and non-profits, that are “intentional about finding firms that are much more consistent with the ethos of their organizations and what they’re trying to accomplish.”

“Our goal is to get to be a billion-dollar, Black-owned firm. The reason why we came together is there’s just such a dearth of diverse-owned firms of scale,” Beverly told Financial Planning. “There are lots of senior advisors who share our view of the world and what we’re looking to build, and they’re looking to build something similar.”