Black Financial Advisors Near Me

Black Financial Advisors Near Me – A financial advisor is a professional who helps his clients achieve their financial goals, which may involve more than executing trades. Historically, there have been very few black financial advisors in the United States. Especially with the financial literacy gap, it’s important to seek out advisors who you believe understand the pressures on your life.

According to a comprehensive review of financial planners in the United States using 2017 data, less than 3.5% of the 80,000 certified financial planners in the United States were black or Hispanic. That number represents a 13.8% increase in 2020, which was the largest growth rate of the CFP’s other categories, with an increase of 4,196 black and Hispanic professionals.

Black Financial Advisors Near Me

Black Financial Advisors Near Me

“Financial advisor” is a broad term that covers a wide range of professionals, including many non-certified professionals who are not licensed to sell financial products. Those on this list offer advice related to finances, including informal advisors, professionally and may not necessarily be certified, a process that requires more rigorous training. There are many other notable black financial advisors and this list is not intended to be exhaustive.

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Tiffany Eliche is known as “The Budgetnista” and co-hosts the podcast “Brown Ambition” with former journalist Mandy Woodruff. One of Aliche’s books,

Excellent seller. She was also an NAACP Image Award nominee and, according to her podcast’s website, was the first black woman to appear unaccompanied on the cover of Money magazine.

At the height of the Great Recession, Kretschmer Daycare, where Aliche had worked as a teacher for seven years, lost its funding. At the same time, Aliche fell victim to credit card fraud that left her $35,000 in debt. “I lost everything,” she says. “I moved in with my parents because I couldn’t afford my mortgage anymore and the bank took my house.” After a period of “deep depression,” Aliche started a remodeling and financial education company, “going places no one else wants to go.” She received her first major financial education contract with United Way and would go on to grow her business and collect the aforementioned accolades.

In 2019, Aliche co-authored a bill (Act A1414) with New Jersey Assemblywoman Angela McKnight that would have mandated financial literacy education in sixth through eighth grades in public schools.

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An author, financial coach and certified financial educator known for his work with millennials and Gen Z, Chauncey Maddox Rhea runs the blog “My Debt Epiphany”.

Before she became a consultant, Rhea was a single mother on government benefits. Rhea says her lowest moment came in 2013, when she had to drive around the parking lot for fifteen minutes to wash her clothes. He then built a career and a life over the next few years, paying off loans. Freelancing, a side hustle for money, eventually turned into a full-time career and calling.

Finance Bar CEO and founder Marsha Horton Barnes is a certified financial educator and financial social activist who has been featured in numerous publications. In 2018, Barnes was selected as GoBankingRates’ Top Money Expert in the “Building Net Worth” category.

Black Financial Advisors Near Me

Barnes is known for offering financial advice from a mobile office in a green bus since 1988, which she told interviewers she did to find people who needed financial advice but couldn’t find a traditional office, such as those , who lived there. Homeless shelters. His operation is registered as a 501(c)(3) nonprofit. Prior to founding The Finance Bar, Barnes worked at Wells Fargo & Company (WFC).

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Known as “The Financial Motivator,” Ash “Cash” Exantus is an author and the founder and CEO of Mindright Money Management. The company is known for mixing personal finance with music.

Born and raised in Harlem public housing in St. Nicholas said Exantus was involved in his “share of abuse” during a time when crime was high in Harlem, but he “managed to escape unscathed” because of the people. in his life. At the age of 19, he began working as a teller and eventually became a vice president and branch manager at Chase Bank. He retired from banking at the age of 30, but ran into financial difficulties and re-entered banking to manage a new credit union in the Queensbridge public housing estate. Exantus eventually moved into financial advisory.

, Patrice Washington specializes in advising black women on their finances. She is also the founder and CEO of Seek Wisdom, Find Wealth. Washington emphasizes that women should pursue purpose over money to achieve wealth in all aspects of their lives. She has written several books and is the host of the “Redefining Wealth with Patrice Washington” podcast.

CEO and founder of Chatur Girl Finance, Bola Sokunbi is also a certified financial education expert. In 2021, Sokunbi won the 2021 “Financial Education Instructor” award from the National Council of Financial Educators, with press material citing Sokunbi for empowering women by providing financial education in a “safe, non-judgmental online community”.

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Sokunbi credits her mother, whom she calls the “hustle queen,” for teaching her about finances. After Sokunbi’s father was forced into early retirement due to health problems, it was his mother who paid for his education using money she had spent over the years. “Seeing my mother make this sacrifice for me changed my life. It gave me the foundation to want to be financially successful, to be independent from everyone else,” says Sokunbi.

Browning is known for his quick advice, delivered in “the time it takes to make a bag of popcorn,” and hosts the “Popcorn Finance” podcast, where he offers advice on financing and investing. The podcast has won numerous awards, including the Best New Personal Finance Award in 2018 and the Consumer Excellence in Media Award in 2021. Browning has been featured in numerous news and financial publications and also works as a financial analyst.

A Certified Financial Planner, Accredited Portfolio Management Consultant and Chartered Advisor to Philanthropy, Malik S. Lee writes occasionally for financial publications and is the founder of Felton & Peel Wealth Management. Lee specializes in financial planning for people in their 20s and 30s, as well as people of retirement age.

Black Financial Advisors Near Me

There are 4,196 black and Hispanic certified financial advisors in the United States, according to the most recent self-reported data available from the Certified Financial Planner Board of Standards.

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About 23.4% of certified financial planners in the United States are black or Hispanic, according to the most recent self-reported data available.

The number of black certified financial planners has grown significantly since 2018. Given the racial gap in financial literacy, the use of financial professionals who understand the pressures on individuals seeking advice may be important.

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In 2021, the number of black and Latino certified financial planners in the United States increased by 13.8% over the previous year – definitely good news. A more sobering statistic from the CFP Board is that there are still 1,652 black CFPs, and they make up less than 2% of all CFP professionals.

“It’s only a handful of CFPs,” says Lazetta Rainey Braxton, a certified financial planner and co-founder and co-CEO of 2050 Wealth Partners.

Black Financial Advisors Near Me

Braxton is one of that group of Black CFPs, and she’s passionate about raising awareness and solving a dual problem: We need more Black CFPs, and we need to improve access to financial planning services. And for Braxton, it’s not an “either/or” situation. The solution is undoubtedly a “both/and” approach.

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Braxton says some of her black clients have expressed that a black advisor can better understand the small cultural nuances that have a big financial impact.

“It adds a level of trust that they understand where you’re coming from, listen to you, and then make suggestions based on that deeper understanding,” says Braxton. “Often clients may think, ‘Who can help me? There aren’t many black counselors and there aren’t many white counselors who understand what I’m going through.”

For such a customer, embedded trust and confidentiality

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