Wealth Stack

Wealth Stack
Founded 2020-12-20 Wealth Stack

Problem statement

Many Community banks offer services that diverse communities need but Community Banks find it difficult to reach and effectively engage with young and diverse audiences. Banks' inability to effectively engage with these communities limits growth opportunities for the bank and also results in sub-optimal financial outcomes for individuals in these communities. The traditional methods used by banks to engage communities just aren't as effective at reaching Millennials.

About company

Wealth Stack first teaches our users how to build a financial foundation using our collection of high quality educational videos and blogs. The Wealth Stack platform features > 100 videos (and growing) on financial topics ranging from “What is a Credit Score” to “How to Pay Down Student Debt Faster by Choosing the Right Bank Partner” to “How to Screen Stocks”. When users register for a Wealth Stack account they select personal goals such as “Paying down debt”, “Obtaining a Personal Loan”, “Learning How to Invest”. The Wealth Stack platform uses these inputs from our users to create bespoke courses for them from our vast financial education video library. These goals also help us identify which financial product should be marketed to which user on our platform. (i.e. users that select “Obtain a Personal Loan” are shown videos about personal loans and then offers for personal loans from Wealth Stack’s banking partners). The Wealth Stack app allows our users to create Invest accounts where they can purchase and sell stocks and ETFs. We teach our users the basics of finance as well as long-term investing and then help them create wealth by guiding them towards a long-term investment (multi-year investment horizon) in high-quality businesses and diversified ETFs. Wealth Stack has numerous Speakers, a hand-picked list of experts in finance who look like our users, reflect their values, and are available to help guide our users through the investment process. Our users can connect one-on-one with some of the best minds in finance in order to avoid making costly investment mistakes. On the Wealth Stack platform, our users can: • Watch >100 short, entertaining videos that walk you through the investment process step by step. • Message Speakers directly to get insights. Share those insights with their community. • Review our online course that takes you through each step of the investing process. • Get inspired by videos from a diverse array of Speakers. • Discover financial products and bank partners that are relevant to your personal financial situation.

Traction information

The Wealth Stack platform is currently live in the Apple and Android app store. Our team has reviewed the feedback that we received both directly from our users as well as via our analytics. We have conducted over 100 hours of user feedback sessions to learn what features and topics most effectively engage our users. The extensive research that we have done has allowed us to identify our ideal user (diverse Millennials) and to confirm that the user values the Wealth Stack platform highly.

Product images

Updates

Profile created.
Added 8 months ago

Tags

FinanceFintech

Funding

Current fundraise
$3,000,000
Fundraise history
$700,000
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