Last updated on April 11, 2022 by BVN
Zanesha Williams |
In the Inland Empire and across the country, blacks are leading new ideas in their respective industries with the strengthening of the Black Community as their pole star.
Trevor Rozier-Byrd, CEO and founder of Stackwell Capital, is a perfect example. Rozier-Byrd has spent much of his career in financial services and asset management spaces, which has contributed to his desire to branch out and make his understanding of wealth more accessible.
One of the tools you believe can help you achieve this is Stackwell, an application designed to educate and encourage the creation of black generational wealth through customized options and solutions. Rozier-Byrd shared excitedly why he felt an application like Stackwell was needed. He stated: “… We have spent our entire careers in and around the financial markets, frankly, helping to create wealth for people who are not like us.”
When you sail to Stackwell’s website and enter your email, it comes across almost immediately with a disturbing truth. “The wealth gap between whites and blacks in the United States is widening.”
The wealth gap
He explained: “The reality is that the numbers are telling a story of a racial wealth gap that is getting worse with each passing generation. We believe fundamentally as an organization and as individuals that the racial wealth gap is a social justice issue. It directly affects all the other material issues that concern us within the black community, so think about things like access to affordable housing, health care, quality education, food insecurity issues, health care reform. criminal justice and all these things are directly affected by people’s access to or lack of capital. “
Another of Stackwell’s leaders is Omosefe Bomwan, Vice President of Product. Like Rozier-Byrd, Bomwan’s goal at Stackwell is personal. When asked why she feels so strongly about the need for the Stackwell black community, she said, “I am a first-generation Nigerian American and the eldest of six children. So I have always been in the mindset of this tribal community. Part of what attracted me “Stockwell is well on his way to the mission with my lived experiences. Like someone who came from a humble beginning, earning a decent amount of money at an early age and lacked financial guidance on how to build wealth over time.”
Like Bomwan, others have wondered how to turn middle to high incomes into generational wealth. Stackwell makes the understanding of investment options personal, as do the experiences of those behind the scenes.
Rozier-Byrd mentions that an important part of Stackwell’s app design was recognizing and breaking a myth the common misconception that investing requires a certain level of sophistication or understanding of the financial market to begin with. He says they worked to achieve this, “… deconstructing and demystifying many of those perceptions. We specifically designed our solution and our platform to provide information that speaks to people’s understanding of markets or perceptions they may have coming up.”
Valuation of the client’s point of view
Orienting themselves to the customer’s perspective, Rozier-Byrd and Bomwan found that the biggest problem they would have to acknowledge is getting customers to overcome an overwhelming fear about where to start. Most people they’ve talked to have acknowledged that they know that investing is a positive way to affect their future, but they lose by understanding the biggest benefits and weighing the risk and reward.
Rozier-Byrd used a useful analogy to describe the financial market that he may never forget. “As a consumer, if I wanted to go to the store and buy some jeans or sneakers … If I came to the store that day and they were on sale at 10 or 15%, I’d be fine. I’m excited about that. Create me a shopping opportunity for get what I value, but at a lower cost. “
He continued: “That’s what I think when I see the stock market fall.”
Know the customers where they are
It’s important to keep in mind that Stackwell’s goal is to get to know each client where they are in order to develop new financial knowledge. Bomwan reiterated: “We think about the basics of investing, meeting people where they are and not assuming anything in terms of financial understanding. We really want to guide people to understand how the broader process works.”
Right now, Stackwell is in beta testing before the deployment and full availability is expected in late June, however, interested new customers can sign up for the waiting list process. People on the waiting list can access in advance to try Stackwell and an introduction to understanding how to take advantage of the market.
“It’s about us appearing in the community. We feel strongly about this issue and our commitment to the people we try to serve. We want your readers to know what we’re committed to them individually.”
If you are interested in learning more or signing up for the Stackwell waiting list, please visit Stackwellcapital.com.
Designed for Building Black Wealth Source link Designed for Building Black Wealth