Santhosh Ramdoss’ Post

From the prosperity of Black Wall Street in Greenwood, Oklahoma, to modern financial services such as the Buttonwood Agreement that formed the underpinnings of the New York Stock Exchange, Black wealth in America is inseparable from the history of the U.S. financial landscape. So why are Black financial professionals still fighting for their seat at the table? Our latest blog to celebrate #BlackHistoryMonth, spotlights stories of resilience and innovation. Learn how these trailblazers are shaping a more inclusive future in the financial industry. #DEI #WealthManagement #FinancialAdvisor

A new Black-owned financial institution could emerge west of Texas! The investment group Redemption Holding Co. (RHC), led by former White House Policy Advisor Ashley D. Bell, wants to acquire Holladay Bank & Trust in Holladay, UT, per an outlet. If approved, the Utah financial institution will be renamed Redemption Bank and become the only Minority Depository Institution west of Texas. "All of us require a bank to operate, and the reality was there was no Black-owned bank that we could sit on top of to operate with the way we're currently constructed," Bell told The Sacramento Observer. Alongside Bell will be Dr. Bernice A. King, the youngest child of the late Dr. Martin Luther King Jr. and Coretta Scott King. Per The Wall Street Journal, she will join the bank's advisory board and serve as the senior vice president for impact banking. Read more here ➡️ https://lnkd.in/g5FdWJSy #AFROTECH #Investmentbanking #Banking #BlackOwnedBank

Realizing that more must be done to aid in building Black business ownership and retention – the Columbus Urban League has gained the confidence of Goldman Sachs and JPMorgan Chase & Co. that have chosen to make major investments in our programming. CUL has taken the lead in designing services to be culturally relevant, effective and to counteract the structural barriers that exist today.   We are a trusted partner in the small business ecosystem and our entrepreneurial programs work to strengthen the business acumen of the owners, thereby increasing their capability to access capital and contracts.  Firm owners that are challenged with the barriers to receiving the necessary capital to scale and grow, will find the expert coaching and access to the needed resources they are missing from the mainstream banking community. Our Minority Business Assistance Center - Columbus Region partners directly with the Ohio Department of Development - Minority Business Development Division, to support minority businesses with loan products such as the Collateral Enhancement Program (CEP) and Ohio Capital Access Program.(OCAP). Learn more about the Minority Business Assistance Center: https://lnkd.in/gCC6t957 #columbusurbanleague #blackownedbusinesses #minoritybusinessassistancecenter #columbusdispatch https://lnkd.in/gwjpJXpE

On Saturday, Nov 4th, I attended JPMorgan Chase & Co. for Advancing Black Wealth Tour in NYC, and it was truly impactful. We were warmly welcomed with Name badges, investment guides, and insightful sessions on entrepreneurship, Home Lending, and Global Supplier Diversity. Along with the JPM team special guests included Ian Dunlap, New York Knicks ’ Jalen Brunson & BMX/athlete Nigel Sylvester. While it was a packed house, I was surprised the line was not wrapped around the corner to attend this valuable event. Huge thankyou to the organizers! These are the initiatives I align with. I'm energized to continue meaningful discussions with new connections to uplift our communities. Watch to end for Powerful affirmations from Ian. Key 🔑 Takeaways: 1. Self-awareness: Understand your financial goals, both short-term and long-term. 2. Invest wisely: Reducing risk through smart, long-term investments is essential. 3. Choose your partners wisely: Evaluate companies based on their values, goals, and belief in you. 4. Invest in yourself: Having a plan and personal development are vital. 5. Collaborate: Positive change is more achievable with friends by your side. 6. Eye-opening statistics: Black representation in NYC (Blacks represent 22% nyc population and ONLY 8% represent Home Lending applications!) and the concerning decline of wealth over generations (Wealth in Black families are likely to decline, 70% next generation, 90% by 3rd generation)! 7. Start today: Building generational wealth begins now. Let's continue on this journey towards financial empowerment and generational prosperity. 🌟⤴️📊 #AdvancingBlackWealthTour #JPMorganChase #FinancialEmpowerment #GenerationalWealth #ShellbairReelLife #PositveBlackImages

Kudos to Andrew Tudor, CFP®for his feature in this Financial Planning article. It's all about some challenges and strategies for guiding Black families towards building multigenerational wealth. One of Andrew's tips highlights the importance of family meetings in wealth planning. He says, 'I think family meetings are essential. I found that one of the best ways to open that line of communication is to have an agenda that we share with the clients... getting the kids involved with this... at an early age, teaching them how to handle money right. This way, parents can see their kids growing financially.' Of the 7 tips, which resonates with you the most? #FinancialPlanning #GenerationalWealth #LegacyPlanning

🤯🧐Walter “Disney”, the “McDonald” brothers, in 1852 William “Fargo” (Wells Fargo), Bank of America, Jcpenny etc all leveraged….so can you!! Our society is being programmed on how to buy the fish from the market. ♟️Let me teach you how to fish so that you can teach your children how to feed themselves for a lifetime (duplication)💪. #generationalwealth #retirementplanning #legacyplanning #savingsgoals #investmentplanning

Ginnie Mae is proud of its diversity. The fact that we look like the public we serve is a source of strength and a personal point of pride for me. Diverse and representational perspectives inform our approach to solving some of the most pressing housing issues we grapple with today. As we kick off another Hispanic Heritage Month at Ginnie, I want to take a moment to reflect on a dicho, or saying, that is well known across our community: “Dime con quién andas, y te diré quién eres,” or, roughly, “Tell me who your friends are/who you associate with, and I will tell you who you are.” We are focused on expanding our guarantee to CDFIs and other mission-driven lenders, because we know that these institutions serve borrowers that larger institutions often overlook. We prioritize manufactured housing because we know it is a powerful source of naturally occurring, affordable housing that is both quick to build and less carbon intensive than site-built housing. And, despite popular stereotypes, we know that rural areas are very diverse, with high concentrations of Latino populations. Manufactured housing can make an enormous difference in these communities. We are focused on social impact investing because we know that our successful track record can yield even greater demand for the collateral that has supported the majority of first-time homeownership opportunities for Black and Brown borrowers during the last half century. —Sam Valverde, Principal Executive Vice President, Ginnie Mae

Let’s celebrate Black History Month by reflecting on the evolution of fair servicing in the mortgage industry from Then vs. Now. Embrace the strides in technology and address persistent challenges. With technology at the forefront, it's everyone's responsibility to prioritize fair and equitable servicing. At MQMR, our commitment to diversity, equity, and inclusion drives positive change. Join us in shaping a future where fair servicing is a reality for all, regardless of background. Let's celebrate the rich history, acknowledge progress, and unite in our commitment to a mortgage industry where fairness is a beacon of equality. Check out this fun and engaging article that talks about servicing “then and now”, comparing the differences in servicing in the 70s to the then present, 2016 (when Mortgage Quality Management & Research (MQMR) published the article). ⤵ https://lnkd.in/dkdtJvQZ #fairservicing #ThenvsNow #BlackHistoryMonth #MQMR #HitTheMarc

My thoughts exactly.

Towards simplifying Mortgage Technology!