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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
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