Digital Investment Platform Aims to Close the Widening Wealth Gap Between Black and White Americans
Money

Digital Investment Platform Aims to Close the Widening Wealth Gap Between Black and White Americans

(Image: Stackwell Capital)

Stackwell Capital is a Black-owned and operated digital investment platform aimed at advancing Black generational wealth.

Stackwell is centered around delivering automated tools and education to help Black Americans stack and build wealth. Now the platform will develop a new app that will target Black millennials and Generation Z Americans.

Lawyer and business executive Trevor Rozier-Byrd created Stackwell to provide the Black community with information, tools, and resources that will position them for greater success in the marketplace.

“Before founding this company, we fundamentally believed that the racial wealth gap is a social justice issue of our time that directly impacts many of the other gaps that have left people in the Black community feeling like they’re not set up for success in this country,” Rozier-Byrd told AfroTech.

The site highlights how the racial wealth gap is steadily increasing, with white Americans currently making 17x that of the average Black household. Stackwell is on a mission to help Black Americans accumulate more wealth.

“Ultimately, I founded Stackwell to help more people in the Black community leverage the power of the market so that they could grow their wealth and have greater agency control to direct outcomes that better their lives, particularly those in the millennial and Gen Z population where the problem is most acute,” Rozier-Byrd added.

The new app will provide three key components that will make it easier for Black people to start investing. Automated model portfolios will help ease the concerns many first-time investors face when deciding how to invest.

The app will recommend stock portfolios based on user goals and risk tolerance that best fit the user’s needs to avoid overwhelming first-time investors with an array of companies to invest in. Educational content tailored to the Black community will be integrated into the application to help customers comfortably gain financial literacy.

Accessibility and behavioral nudges will help guide users toward financial freedom without making customers feel overwhelmed or stressed.

“We know from experience, that folks have a heightened sense of risk aversion,” VP of Product Omosefe Aiyevbomwan told AfroTech.

“People don’t wanna lose money, so what’s important to us — delivering an affordable product. We want to help more folks start their investment journeys and increase long-term commitment toward wealth building.”

Stackwell users will only need to commit $10 and a one-dollar subscription fee upon launch. Those who are interested can sign up on their website and follow them on social media.


×