In our early days of dating, while attending the same set of classes in the Personal Financial Planning program at Texas Tech University, we dreamed about the possibility of partnering together. A few years later, we had the opportunity to work together for a short time while living in Maryland, after that experience we found ourselves frequently talking about how fun it would be to work with each other again. Little did we know that years later God would lead us to the opportunity to form our own firm to be able to share our passion with others.
We both began working in the financial services industry around 2008/2009, helping individuals and families reach and realize their financial dreams, but we also discovered that there was a huge need for helping the younger generation of investors. This early time in life tends to be the timeframe with the most transitions and the biggest need for financial advice. This is why we founded our firm with a focus on helping families through those transitions, no matter the stage of life.
Lance Elrod, CFP® – Co-owner
I am Lance Elrod – co-owner of Next Step Financial Transitions. I believe that most financial planning concepts have become overcomplicated; my goal is to declassify these concepts into conversational terms and educate you enough so that you understand and feel comfortable with any decision you make.
I hold a BS in Personal Financial Planning from Texas Tech University and am a CERTIFIED FINANCIAL PLANNER™ practitioner. Like many new graduates, I began the early part of my career trying to discover my place and passion within my industry. During that time, I worked short stints with United Capital Private Wealth Counseling, which now comes under Goldman Sachs Personal Financial Management Umbrella, and May and Barnhard, P.C., which recently changed their name to Councilor, Buchanan & Mitchell, P.C… Although I enjoyed financial planning, I felt compelled to take a brief detour as a Mud Engineer because Oil & Gas is what you do when you move to Houston, right?
In 2015 I rejoined the industry, where I dug into my career and recognized my desire to serve individuals and families in the under-served, early stages of life.
Lance Elrod, CFP®
During my free time, you can find me in the back yard playing baseball with my 3 boys, cooking, or on the water fishing.
Tessa Elrod, CFP®, CDFA® ChSNC® – Co-owner
I am Tessa Elrod, co-owner of Next Step Financial Transitions. I fell in love with financial planning from my first semester in the financial planning department at Texas Tech. What I discovered over the tenure of my experience is that my passion truly lies in the impact I am blessed to make in people’s lives. I love witnessing the immediate relief my clients experience when they understand their financial situation and peace of mind that comes with having clear direction. My mission is to bring that emotion to clients of all ages and transitions.
I hold a BS in Personal Financial Planning from Texas Tech University and am a CERTIFIED FINANCIAL PLANNER™ practitioner as well as a Certified Divorce Financial Analyst®. In 2008, I took my first step into the professional world with United Capital Private Wealth Counseling, which now comes under Goldman Sachs Personal Financial Management Umbrella. In addition to playing a key role in the development of UCPWC’s advice and planning group in Lubbock, TX I also held the Relationship Manager role in both the Bethesda, MD and Houston, TX offices.
In 2014, I joined Houston-based Strategic Financial Advisor, where I discovered and developed my passion for family-oriented financial planning and the next generation’s financial needs. As a mother of four myself, I understand how difficult financial planning can be, especially for families with children that have special needs. This is a difficult truth that I have learned from my personal experience.
My career trajectory also brought me in contact with several people (mostly women) who had difficulty dealing with the financial repercussions of divorce and unjust settlements. As a Certified Divorce Financial Analyst®, I helped these people take control of their financial life when I was with SFA. Then in 2018 I started Next Step Divorce Solutions LLC, with a desire to do more during the divorce process.
Tessa Elrod, CFP®, CDFA®
Although my career passion keeps me busy and personally driven it is nothing without my family by my side. When I am not working, I focus on soaking up all the little moments with my boys. Some of our favorite times are spent at my family’s property enjoying the outdoors.
The Power of a Couple’s Partnership
As a married couple ourselves, we know communication is extremely important between spouses. In our professional and personal experience, we understand that most couples have differing money habits. Managing the finances can be an overwhelming task and is often shouldered by one spouse. We believe it is imperative for both spouses to be fully engaged and understand their financial situation and plan moving forward. We use past experiences from our own life, marriage, and career to provide unbiased financial guidance and help you avoid hidden setbacks.