This Haitian-American founder launched a wealth advice app to make financial freedom a reality for everyone | ET REALITY

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Mical Jeanlys-White’s grandmother was the family’s financial planner. She had no formal education in planning, but she knew enough to understand the importance of saving. The matriarch taught her Haitian-American granddaughter to live below her means and she often told her sayings like: Spend money as slowly as you earn it.

Sage advice, but, according to Jeanlys-White, that wasn’t enough financial information her grandmother deserved to know, particularly when it came to wealth creation.

That’s 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, Nestlé Accenture, and JPMorgan Chase, she took what she learned and launched her own company that was about to disrupt the cycle of financial inequity for everyone: WealthMore. And it was mainly inspired by his personal experiences.

‘I was CEO of JPMorgan,’ says Jeanlys-White Forbes. “I ran a $22 billion credit card business, I had always been in the consumer credit space, but I was realizing that, ‘Hey, we’ve made a lot of progress in getting people to understand their credit scores, understand how manage them, so that they get something good when they need a credit product, they can do their best.’ But I felt like we were too focused there and not focused on this other investment space, doing it early, sticking with it, having access to great advice so you can navigate things like, ‘hey, do you have a Roth? Are you using an HSA? How do you handle university planning? And I felt like no one talked to people unless they were already rich. And that drove all the interest and focus around wealth and made access to great advice more accessible to people who don’t walk in the door with half a million dollars.”

According to her, her company is a new technology-based planning and investment community and service led by premium wealth advisors with no barriers to entry. She, along with her small team of expert advisors, aims to reduce the wealth gap by making it easier to achieve investment and generational wealth creation.

Although it is a brave effort, it is still entirely original. But Jeanlys-White explains that the true differentiator between WealthMore and other financial planning democratization applications lies in one factor: humanized technology.

“We’ve really made a difference using technology and I like to think of the work we’re doing as technology for social good,” says Jeanlys-White. Forbes. “Not only are we very focused on providing advice, but we figured out a way to do it at scale using technology. “We’ve also redesigned the way you think about making a financial plan using our interactive financial planning tool on our mobile app.”

He also explains that WealthMore has included an AI-powered scoring platform that allows users to see how they are doing across different dimensions so that “Know where to take action rather than taking a passive approach to wealth creation.“This, along with real-time support from dedicated, certified financial planners, truly sets users up for success.

Jacob Stewart, a financial planner who joined the WealthMore team ahead of its official launch in August 2023, says the company has humanized investing.

“Having grown up in a working-class family with parents who didn’t invest and lived paycheck to paycheck, I knew I wanted something different for others,” Stewart tells Forbes. “WealthMore looks at the person first, not the money.”

The app comes at a time when economic demographics are changing rapidly. For example, a McKinsey The report shows that by 2030, American women will control much of the $30 trillion in financial assets that Baby Boomers will own. Jeanlys-White says she wants to position Black women and other people of color at the forefront of that change.

“My main focus here is access and representation,” Jeanlys tells Forbes. “If you’re Black, Latina, first-generation woman, something like this just hasn’t been something that’s been, one, readily available, and two, a conversation that we’ve even tried to have with communities about this,” she said. she explains, referring to investment planning. “Our communities are inundated with ways to spend. We are not inundated with ways to generate wealth. So just having the conversation, choosing the destination, and having our planners represent the communities we serve creates an avenue for people to feel, ‘Hey, I can be a part of this.’ And when they talk about wealth, they also talk to me.”

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