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Spreading the wealth: Black-owned investment firms tackle the racial finance gap
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Black investors have long been underrepresented in the stock market; only 33.5% of Black American households owned stocks in 2019, according to Federal Reserve data. But that’s beginning to change. Across the country, a new generation of young Black wealth managers are launching firms that aim to make investing accessible within the Black community – and in the process, to help close the racial wealth gap across generations.
“We all need education, access, and tools to be successful, and those were things that weren’t always accessible to us,” says Calvin Williams, founder of Freeman Capital. The Charlotte, North Carolina firm is the only Black-owned automated investment platform currently registered by the SEC.
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