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What Is Wealth Management?
Wealth management is one of the financial services under investment advisory that incorporates various services in the finance industry in order to cater to the needs of affluent clients. In a consultative process, the wealth manager derives information about the client and their specific needs. With this information, the wealth manager is able to tailor-make a customized strategy that encompasses a variety of financial products and services for the client.
A wealth manager is a high-level finance professional who helps and offers advice to affluent clients on how to properly manage their wealth, at a fee.
Black Wealth Managers
1. Mellody Hobson
Mellody Hobson is an African American businesswoman and the co-CEO and President of Ariel Investments, a mutual fund company & investment management firm based in Chicago. In 2020, she was announced as the Chairwoman of Starbucks Corp. She is the first African American woman to be appointed as chairperson of an S&P 500 company.
Mellody is a firm believer and an advocate for financial literacy among African Americans.
2. Chris Browning
Chris Browning is an African American man, who is also the founder and host of the award-winning short-form podcast, Popcorn Finance. The goal of the podcast is for him to share financial advice with his audience and listeners in about the time that it takes to make a bag of popcorn. Each week, he together with his guests discuss finances. The topics range from investing, side hustles and also saving for retirement. In addition to being a podcast host, Chris is also a financial analyst. He holds a bachelor’s degree in Finance, specifically in financial planning.
Since starting his podcast, Chris has been named an African-American Financial Guru to follow in 2018, 2019 and 2020 by Nerd Wallet.
3. Patrice Washington
Patrice Washington is the founder and host of the Redefining Wealth podcast. She is not only a personal finance expert but also a no. 1 best-selling author as well as a captivating speaker. Since 2014, she's been the personal finance expert on both Steve Harvey's TV and radio shows. She's also appeared in a number of media outlets such as Dr. Oz and Fox & Friends.
4. William Huston
William Huston is the founder of Bay Street Capital Holdings, an independent investment advisory, wealth management, and financial planning firm. He started the company after 13 years of supporting the United States' largest retirement plan ($650B) Thrift Savings Plan. He is recognized as Investopedia’s Top 100 Financial Advisors for 2021. In California, only two black-owned firms out of nineteen firms received this recognition. In 2021, Bay Street was selected as a finalist out of over 900 firms across the US in the category of Asset Manager for Corporate Social Responsibility (CSR).
5. Dasarte Yarnway
Dasarte Yarnway is the Founder & Managing Director of Berknell Financial Group. Formerly, he served as a running back for UC Berkeley’s football team. The Berknell Financial Group is an independent wealth management firm that uses innovativeness to help professionals within the tech space and founders design and live their best lives.
6. Elizabeth Salas Evans
Elizabeth began her career with Fidelity Investments in 2005. So far, she's held positions with Charles Schwab, TD Ameritrade, Windhaven Investment Management and a small local independent registered investment adviser. Among the financial services that she offers her clients include: relationship management to high net worth individuals, global trade analyst, research assistant, retirement specialist as well as portfolio management. Throughout the course of her career, Elizabeth has paid keen attention to matters race, gender equality within the financial service industry, human rights and diversity, environmental stewardship and also consumer protection.
Bay Street Capital Holdings
Bay Street Capital Holdings is an independent investment advisory, wealth management, and financial planning firm headquartered in Palo Alto, CA. They manage portfolios with the goal of maintaining and increasing total assets and income with a high priority on managing total risk and volatility. Although many advisors may focus on maximizing returns, they place a higher priority on managing total risk and volatility.
Our founder, William Huston founded Bay Street after 13 years of supporting the United States' largest retirement plan ($650B) Thrift Savings Plan. He is recognized as Investopedia’s Top 100 Financial Advisors for 2021. In California, only two black-owned firms out of nineteen firms received this recognition. In Scottsdale Arizona, Ekenna Anya-Gafu CFP, AAMS is recognized among the Best Financial Advisors for his responsiveness, friendliness, helpfulness, and detail. Bay Street was founded to advocate for diverse and emerging fund managers and entrepreneurs. In 2021, Bay Street was selected as a finalist out of over 900 firms across the US in the category of Asset Manager for Corporate Social Responsibility (CSR).
References
https://paychecksandbalances.com/
https://www.nerdwallet.com/article/finance/8-african-american-financial-gurus-to-follow-in-2020
https://patricewashington.com/about/
https://wealthfit.com/expert/marcus-garrett-rich-jones/
