Black-Owned Mobile App Brings Financial Advisors to Low & Middle Income Families
Ronda Reid-Mohammed is the founder and CEO of Filance, an application that interfaces guaranteed financial advisory services through experts legitimately with low and middle-income pay people and families. This platform permits clients to get finance-related advice through their cell phones.
“Cost should not be a barrier to seeking financial advice. Everyone, no matter what income, should be able to work with a professional who can help them make a plan for their finances,” she said. “Many people are already burdened with embarrassment when admitting they need financial advice, so it was significantly important to me to remove the cost barrier and provide personalized and discreet service,” Ronda said.
The Filance App provides a secure and simple interface that is easy for both the customer and their provider to use with voice and video features for tailored sessions. It also guarantees nationwide accessibility so users can connect with financial professionals regardless of their physical proximity to them. It’s affordability through a billing system, allow customers to select the best advisor for their budget and situation, while only paying for the service they need.
“We have a wealth problem in this country,” Ronda said. “I wanted to use my technology expertise and background to create a platform that could help improve the financial lives of everyday people. I believe if everyday people have access to more resources like financial advisors and planners, we could level the playing field a little and begin to close the wealth gap through that access.”
Is this going to mark the beginning of wealth for people of color in America? Tell us what you think in the comments!