{"id":13986,"date":"2023-09-15T17:46:35","date_gmt":"2023-09-15T17:46:35","guid":{"rendered":"https:\/\/mysourcefunding.com\/leadership\/this-haitian-american-founder-launched-a-wealth-advising-app-to-make-financial-freedom-a-reality-for-all\/"},"modified":"2023-09-15T17:46:36","modified_gmt":"2023-09-15T17:46:36","slug":"this-haitian-american-founder-launched-a-wealth-advising-app-to-make-financial-freedom-a-reality-for-all","status":"publish","type":"post","link":"https:\/\/mysourcefunding.com\/?p=13986","title":{"rendered":"This Haitian-American Founder Launched A Wealth Advising App To Make Financial Freedom A Reality For All"},"content":{"rendered":"<div>\n<p>Mical Jeanlys-White\u2019s grandmother was the family\u2019s financial planner. She didn&#8217;t have any formal planning education, but she knew enough to understand the importance of saving. The matriarch taught her Haitian-American granddaughter to live below her means and would often tell her adages like, <em>spend money as slowly as you make it. <\/em><\/p>\n<p>Sage counsel, but, according to Jeanlys-White, that wasn\u2019t nearly enough of the financial information her grandmother deserved to know, particularly when it came to wealth-building.<\/p>\n<p>That\u2019s exactly what drove Jeanlys-White to pursue a career in finance helping people navigate retirement planning and other forms of investing. After working in financial services for more than 20 years and holding positions at American Express, Nestle Accenture, and JPMorgan Chase, she took what she learned and launched her own company that\u2019d poised to disrupt the cycle of financial inequity for all: WealthMore. And it was mostly inspired by her personal experiences.<\/p>\n<p>\u201cI was a managing director at JPMorgan,\u201d Jeanlys-White tells<em> Forbes. <\/em>\u201cI led a $22 billion credit card business, had always been in the consumer credit space, but was realizing that, \u2018hey, we&#8217;ve made so much progress in getting people to understand their credit scores, understand how to manage that, so that they get good sort of when they&#8217;re in the need for a lending product, they can sort of have their best foot forward.\u2019 But I felt like we were overly focused there and not focused on this whole other space of investing, doing it early, sticking with it, having access to great advice so that you can navigate things like, \u2018hey, do you have a Roth? Are you using an HSA? How are you doing the college planning?\u2019 And I just felt like no one was talking to folks unless they were already wealthy. And that sort of drove the whole interest and focus around wealth and making access to great advice just more accessible to folks who are not walking in the door with half a million dollars.\u201d<\/p>\n<p>Her company is a new premium wealth advisor-led, tech-enabled investing and planning service and community without the barriers to entry, according to her. She, along with her small team of advising experts aim to narrow the wealth gap by making investing and building generational wealth easier to reach.<\/p>\n<p><fbs-ad position=\"inread\" progressive=\"\" ad-id=\"article-0-inread\" aria-hidden=\"true\" role=\"presentation\"><\/fbs-ad><\/p>\n<p>Although it\u2019s a valiant effort, it\u2019s not entirely unoriginal. But Jeanlys-White explains that the true differentiator between WealthMore and other financial planning democratization apps lie with one factor: humanized tech.<\/p>\n<p>\u201cWe&#8217;ve really made a difference using technology and I like to think of the work we&#8217;re doing as tech for social good,\u201d Jeanlys-White tells <em>Forbes.<\/em> \u201cNot only are we hyper-focused on delivering advice, but we figured out a way to do it at scale using technology. We also have sort of redesigned how you think about building a financial plan using our interactive financial planning tool in our mobile app.\u201d<\/p>\n<p>She also explains that WealthMore has included an AI-powered scoring platform that enables users to see how they&#8217;re doing in different dimensions so they <em>\u201cknow where to take action versus taking a passive approach to wealth-building.<\/em>\u201d This, coupled with the real-time support of dedicated certified financial planners truly set users up for success.<\/p>\n<p>Jacob Stewart, a financial planner that joined the WealthMore team ahead of its official August 2023 launch says the company has humanized investing.<\/p>\n<p>\u201cHaving grown up in kind of a working class family with parents that didn&#8217;t invest and lived paycheck to paycheck, I knew I wanted something different for others,\u201d Stewart tells Forbes. \u201cWealthMore sees the person first, not their money.\u201d<\/p>\n<p>The app comes at a time when economic demographics are rapidly changing. For example, a McKinsey report shows that by 2030, American women will control much of the $30 trillion in financial assets that Baby Boomers will possess. Jeanlys-White says she wants position Black women and others of color at the forefront of that shift.<\/p>\n<p>\u201cMy main focus here is about access and representation,\u201d Jeanlys tells Forbes. \u201cIf you&#8217;re Black, Latino, first generation women, something like this just hasn&#8217;t been something that&#8217;s been, one, readily available, and two, a conversation that we&#8217;ve even tried to have with communities around this,\u201d she explains referring to investment planning. \u201cOur communities get inundated with ways to spend. We don&#8217;t get inundated with ways to build wealth. So, just having the conversation, being sort the destination for it, and having our planners represent the communities we serve, it creates an avenue for people to feel like, \u2018hey, I can be part of this. And when they&#8217;re speaking about wealth, they&#8217;re speaking to me too.\u2019<\/p>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.forbes.com\/sites\/jasminebrowley\/2023\/09\/15\/this-haitian-american-founder-launched-a-wealth-advising-app-to-make-financial-freedom-a-reality-for-all\/\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Mical Jeanlys-White\u2019s grandmother was the family\u2019s financial planner. She didn&#8217;t have any formal planning education, but she knew enough to understand the importance of saving. The matriarch taught her Haitian-American granddaughter to live below her means and would often tell her adages like, spend money as slowly as you make it. Sage counsel, but, according [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":13987,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"content-type":"","footnotes":""},"categories":[76],"tags":[],"class_list":{"0":"post-13986","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-leadership"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.9 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>This Haitian-American Founder Launched A Wealth Advising App To Make Financial Freedom A Reality For All | Brandiary<\/title>\n<meta name=\"description\" content=\"Mical Jeanlys-White\u2019s grandmother was the family\u2019s financial planner. 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