Wealth8’s digital wealth management mobile app should resonate with the black, multi-ethnic community

Wealth8, the new digital wealth management platform with a full-service mobile app, provides access to global investment funds and diversified funds from the world’s largest asset manager, BlackRock Asset Management. Their service is aimed primarily at the black and multiethnic community being largely the African diaspora in the UK. The mobile app will also be made available to Africans living in the continent’s major economies such as Nigeria, Ghana and Kenya, by next year. Traditional wealth and investment managers have largely ignored this demographic.

Wealth8 is the premier black-owned digital investment platform that provides access to diversified portfolios of investment products managed by BlackRock, the largest international asset manager. It opens up access to wealth creation opportunities by demystifying the language of investing, providing a simple and affordable way to invest in globally managed funds.

Wealth8 has launched an iOS and Android mobile app, which is now available in Early Access.

Black African households typically have ten times less wealth or savings than their white British counterparts[i][1]. This is because many UK savers – if they have any savings – only use cash savings accounts or cash ISAs which currently pay minimal interest rates, which together with the rate of inflation starting to increase dramatically, means they are losing money in real terms. Wealth8 will bridge this wealth gap by providing the tools and knowledge to save and invest for their future.

Wealth8 differentiates itself by bringing together a community of like-minded people concerned with growing their wealth, learning the language of investing and engaging in lifestyle and money issues that resonate with black communities. and multiethnic.

Bimpe Nkontchou and David Fisayo, co-founders of Wealth8, identified that African and multiethnic communities in the UK and on the African continent are lagging behind in successful wealth creation due to their lack of sufficient financial education to support financial planning, savings and investment in a strategic and coherent way. Since 2014. Bimpe Nkontchou operates a UK based wealth advisory and asset management firm providing advisory and investment services to high net worth African families and entrepreneurs. She remains passionate about democratizing wealth management services beyond the very wealthy and sees community building and financial education as the most effective ways to achieve this.

Bimpe Nkontchou said: “Investments and savings are becoming more and more crucial and although stocks carry more risk than deposit accounts, returns, whether in the form of dividends, capital appreciation or of the two, are likely to be considerably higher in the long run. While investors’ attitude to risk, investment schedule and life stage should guide their investment strategy, investing in the markets is a responsible way to grow their assets and plan for their long-term financial well-being. Wealth8 is a proactive supporter of increased financial awareness within the UK’s black and multi-ethnic community. We have specially designed our digital platform and mobile app to make it easy for them to invest their money by first evaluating their fund options, so that their investments are based on their personal circumstances and needs.

Wealth8 encourages investors to start building wealth with as little as £ 8. The aim is to provide easy access to a low entry point for its investors.

Wealth8 celebrates Black History Month with a “#Mywealthis” campaign aimed to document the experience of black wealth with unscripted reflections on what wealth means within their community. The idea is to take the opportunity to shed a positive light on the creation of wealth within the black community.

David Fisayo adds: “As a millennial, I recognize that my generation is the guardian of the future and must be financially equipped to create a more vibrant and equitable society. Weath8 is changing the wealth narrative for future generations within our community. Financial literacy is especially important in today’s society, where from an early age we are all exposed to consumerism and how to spend money. The Covid-19 pandemic has seen a willingness to make and make money with recent events like the Gamestop Frenzy highlighting this. We are committed to supporting more people on their wealth management journey by using community building, financial education and investing as tools to build long-term wealth.

Wealth8 offers an iOS and Android mobile application. Visit www.wealth-8.com to download the app for early access now.

[i][1] The Runnymede Trust ‘The Color of Money’ Report

About Stuart M. McFarland

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