Commonwealth, a non-profit financial innovation lab, announced today its new project Transforming Investor Identity: A National Demonstration, aimed at shifting perceptions of investor identity, making investing more accessible for Black and Latinx communities, and cultivating more inclusive investing environments. Co-financed through a grant by The Nasdaq Foundation, this project is an extension of the existing partnership between Commonwealth and The Nasdaq Foundation, building upon previous research focused on identifying barriers that limit equal access to capital markets.
The insights from Transforming Investor Identity: A National Demonstration will enable Commonwealth to map out the role that investor identity plays as a barrier or enabler of long-term wealth building. Involving more than 800 beginner investors from Black and Latinx communities across the U.S., fintech representatives, and community organizers, the research insights and findings will culminate in a final report from Commonwealth focused on enabling more inclusive products and practices.
“One critical component in advancing inclusive wealth building and enabling capital market participation amongst under-represented communities is to better understand how investor identity is shaped, and how it evolves over time,” said Timothy Flacke, Co-Founder and Executive Director at Commonwealth. “A nuanced and improved understanding of how investor identity influences investor behavior will better equip financial services firms and organizations to build inclusive products that enable more people to start seeing themselves as investors and participate in the capital markets.”
“Through The Nasdaq Foundation’s New Investor Initiative, we are focused on partnering with ambitious organizations like Commonwealth to bolster the creation of stronger investor identities for underrepresented communities,” said Jailan Griffiths, President of the Nasdaq Foundation and Global Head of Purpose. “Commonwealth’s extensive research expertise aims to provide meaningful insights that will guide the broader investment community, so more people can participate in an ecosystem that supports and sustains their wealth creation and growth.”
The research project commences in November and Commonwealth is actively seeking additional fintech partners for the project.
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