Andrew Chouage 36
Founder, managing partner, NexGen Wealth Management
Andrew Chou knows firsthand how difficult it is for immigrants to find good financial advice.
He moved to Southern California from Taiwan with his family in the early 1990s. Most of the time, members of the Asian diaspora turns to insurance salespeople or overseas Chinese banks.
Mr. Chou, managing partner at NexGen Wealth Management, has built his client roster by focusing on second-generation and minority small-business owners. Many are Chinese-Americans in their 30s and 40s who operate independent practices as physicians and dentists.
For them, Mr. Chou is someone who combines sophisticated financial planning ability with a unique understanding of their circumstances.
“I feel I have the knowledge base and the language skills to really provide the best advice to the Chinese community in Southern California,” said Mr. Chou, who speaks Mandarin and Taiwanese.
Asian-owned businesses are booming where he is based — the San Gabriel Valley, about 20 miles east of downtown Los Angeles. He takes pride in advising some of them.
“I feel I’m part of the growth story,” said Mr. Chou, who is also president of the local Financial Planning Association chapter.
His practice grew eight-fold in just over a year thanks to connections he made with attorneys, certified public accountants and other professionals whose services are in high demand by small businesses.
“I went after the market pretty hard,” Mr. Chou said. “There’s a network of us out here. We help each other grow.”
He also is energetic about reaching out to those who don’t have enough assets to attract investment advisers. He gives pro bono advice and conducts free seminars for low-income Los Angeles residents.
— Mark Schoeff Jr.