Resources from Closing the Gap: Building Black Dollars

In a recent YouTube event, "Closing the Gap: Building Black Dollars," financial professionals Brian Thompson and Rachel J. Robasciotti joined Morningstar associate editor Keith Reid-Cleveland and behavioral researcher Michael F. Thompson to put a spotlight on what Black investors experience in their financial journeys and share their insights on the work that needs to be done.

The panelists shared these following resources on how to build wealth at any age and learn more from professionals across the country.

Association of African American Financial Advisors This nonprofit group for African American financial advisors and affiliated professionals "envisions a future where the Black community is financially savvy with expert guidance to sustain generational wealth," according to its mission statement. Resources available include events, a database of financial advisors, a career portal, news links, and more.

CHIP Professionals (Changing How Individuals Prosper) This group has come together to help investors find Black and Latinx financial professionals in an effort to empower communities of color. The site has a free FAQ section with questions on what it's like to work with a certified financial planner, and more.

Adasina Social Capital's Racial Justice Impact Data Set Panelist Rachel Robasciotti's firm has partnered with "social justice organizations to identify the metrics investors can use to advance social justice movement goals." The site also shows you how to talk to your financial advisor about your interests and concerns.

XY Planning Network This organization was created to provide Gen X and Gen Y investors a place to find fee-only Certified Financial Planners. Many of the planners who are part of this network are willing to work with clients virtually, and all advisors have at least three years of experience.

National Association of Personal Financial Advisors This group has been around for over 35 years, helping investors find fee-only advisors across the country. Its website features a comprehensive education section including virtual learning, podcasts, and overviews of its conferences.

theracialwealthgap.com This website was created as part of the release of a white paper entitled "Two American Financial Plans: The Next 50 Years of the Racial Wealth Gap and What You Can Do About It." This work from authors Brent Kessel and Kamila Elliott with Ako Ndefo-Haven offers recommendations for advisors and individual investors on how to reduce the gap.