Building an investor identity is critical to attracting and retaining early-stage individual retail investors earning low and moderate income. Data shows that these beginning investors are eager to embrace the wealth-building potential of capital markets. For providers, Commonwealth’s actionable toolkit, built on original research from the Transforming Investor Identity research project with support from the Nasdaq Foundation, provides key insights on where in the investor-user journey platforms can foster more inclusivity. In the toolkit, you'll learn: ➡ Why cultivating an investor identity is important ➡ How to make the investing process less intimidating ➡ How to provide a sense of belonging to new investors Explore and bookmark this link: https://lnkd.in/gGwZ7FNe CC: Jailan Griffiths Jill Blackford Paula Grieco Charles de la Cruz, Ph.D. Brittany Greene Haydee Moreno Catherine New Elizabeth Dobrska Anahit Fitzpatrick #FinancialInclusion #LowIncomeInvestors #Investing #WealthBuilding #InclusiveInvesting
Commonwealth
Financial Services
Boston, Massachusetts 2,873 followers
We build solutions to make people financially secure.
About us
Too many people in the U.S. today lack financial stability. Too many people are financially vulnerable. For people to pursue their full potential, we need more wealth – of opportunity, of tools, of financial assets – and we need that wealth to be more widespread. We aspire to accomplish that by building innovative solutions that make people financially secure. We collaborate with consumers, the financial services industry, policy makers, and mission-driven organizations to discover ideas, pilot solutions, and drive innovations to scale so wealth can become possible for everyone. We Work with Industry We understand broad change requires market players to act. We apply consumer insight and business acumen to build solutions that our industry partners scale. Our partners trust us to deliver solutions that are aligned with business objectives and good corporate citizenship, and are good for consumers. The solutions we build are grounded in real life, based on our deep understanding of people who are financially vulnerable and how businesses can best serve them. We envision a financial services marketplace that works for everyone. We are Policy Driven Policymakers trust us to deliver insights that are data-driven, bipartisan, practical and effective. Our policy work includes collaborating with government to find ways to eliminate regulatory barriers, to craft and protect policies that enable broad access to the financial system, and to deliver essential consumer tools at scale. We envision a financial system that works for everyone. We Work with the Social Sector We partner with other mission-driven organizations to understand consumers, pilot and test solutions, and pursue scale opportunities that deliver meaningful social impact. We envision a social sector engaged in building financial opportunity for everyone.
- Website
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http://buildcommonwealth.org
External link for Commonwealth
- Industry
- Financial Services
- Company size
- 11-50 employees
- Headquarters
- Boston, Massachusetts
- Type
- Nonprofit
- Founded
- 2000
- Specialties
- tax-time savings, U.S. savings bonds, financial entertainment, gamification, nonprofit, low-to-moderate income, prepaid cards, financial education, policy, mobile apps, fintech, survey design, credit unions, prize-linked savings, behavioral economics, and emergency savings
Locations
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Primary
22 Batterymarch St
Suite 501
Boston, Massachusetts 02109, US
Employees at Commonwealth
Updates
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With the release of Commonwealth’s Financial AI for Good: Guide & Chatbot, we launched our first custom ChatGPT-based chatbot to make it easier for providers to discover insights and research. In the process, we gained more experience with ChatGPT’s technology, tested research learnings from the Emerging Technology for All Initiative on our site, and learned more about how chatbots operate under the hood. In a new blog, we share findings from our experience creating and deploying the new Commonwealth chatbot. Read the blog post: https://lnkd.in/gZemtvma #EmergingTechForAll #ChatBot #ChatGPT #OpenAI #FinancialTechForGood
Building Commonwealth’s ChatGPT-Powered Chatbot
buildcommonwealth.org
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Looking forward to a lunchtime discussion on turning wages into financial security at the Conscious Capitalism, Inc. CEO Summit! 🔑 Topic: The Role of Workplace Benefits in Building Financial Security 💡 Why it matters: Two-thirds of Americans are not financially healthy, and it’s impacting the workplace. Financial stress leads to absenteeism, lower productivity, and higher turnover. But workplace benefits—like savings plans, student loan management, and inclusive investing—can be the key to changing that. ✨ Join Commonwealth CEO and Co-Founder Timothy Flacke today for a dynamic discussion on how conscious leaders can elevate their employees through strategic, intentional benefit solutions that go beyond just wages. 📅 When: Today at the Conscious Capitalism CEO Summit 🎯 Takeaway: Practical strategies to help your employees build long-term financial well-being and empower your business to thrive. Let’s unlock the power of workplace benefits to create financial security for all! #ConsciousCapitalism #WorkplaceBenefits #FinancialWellbeing #InclusiveInvesting #EmployeeEngagement #FinancialSecurity #Leadership #Commonwealth
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Commonwealth's Brenda Velazquez weighs in on workplace 529 plans as a way to encourage college savings and shares new research from Commonwealth and MetLife Foundation that highlights the potential of 529s for families living on low to moderate incomes. Read more in the The New York Times: https://lnkd.in/gWmzdD-y See the link to Commonwealth’s research in the comments. #FinancialSecurity #529 #CollegeSavings #WealthBuilding #Employers
How States Are Enticing Employers to Help Their Workers Save for College
https://www.nytimes.com
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Commonwealth reposted this
(Unbiased) Workplace Emergency Savings Expert | Operationalizing Secure 2.0 | Financial Benefits for people living on LMI | Passionate about DE&I
I’m honored to share a piece I co-authored with Kathleen Kelly, CRPS, AIFA of Compass Financial Partners, recently published in PLANADVISER. Compass Financial Partners is a long-standing partner of Commonwealth and together, we make the case for plan advisers' critical role in supporting plan sponsors in identifying and integrating emergency savings solutions for their employees. Learn more here: https://lnkd.in/eC_KyBeY BlackRock #EmergencySavings #FinancialWellness #EmployeeBenefits #PlanAdviser #PlanSponsors #401k #Recordkeepers #RetirementSavings Robin Flaharty Charvi Gandotra Shana Beal
Financial Security First | PLANADVISER
planadviser.com
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Calling all Retirement Plan Advisers! Of respondents to BlackRock's Read on Retirement survey, 64% agree they would save more for retirement if they had an emergency savings fund set aside—demonstrating the vital role emergency savings play in financial stability and retirement planning. Nick Maynard of Commonwealth and Kathleen Kelly, CRPS, AIFA of Compass Financial Partners urge retirement plan advisers to respond to this demand in a new article in PLANADVISER: https://lnkd.in/gMykbXXd Claire Chamberlain Gabriel Q. Rubio Robin Flaharty Charvi Gandotra Timothy Flacke Shana Beal Jacqueline Jusko #EmergencySavings #FinancialWellness #EmployeeBenefits #SECUREACT #PlanAdviser #PlanSponsors #Recordkeepers #RetirementSavings
Financial Security First | PLANADVISER
planadviser.com
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The U.S. Department of the Treasury examines the state of women's retirement security, citing research from Commonwealth and BlackRock's Emergency Savings Initiative on the impact of workplace emergency savings and the opportunities created by SECURE 2.0. Read more: https://lnkd.in/gEBAxfAc #FinancialSecurity #EmergencySavings
Spotlighting Women’s Retirement Security
home.treasury.gov
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Thanks to everyone who joined Paula Grieco, Elizabeth Dobrska, and Rohini M. at Commonwealth's #BostonFintechWeek roundtable this week! #FinancialSecurity #Fintech #SocialImpact #WealthBuilding
👏 Huge thanks to the 60 people who joined Commonwealth's #BostonFintechWeek roundtable on Unlocking Financial AI & Capturing The New, Hidden Customer at Federal Reserve Bank of Boston yesterday. My colleagues Paula Grieco, Rohini M., and I shared Commonwealth's #EmergingTech work and focused the discussion on 3 key areas: Inclusive Investing and AI, Trust and AI, Future Direction and Generative AI to highlight how financial AI can be unlocked to transform financial security for people with low and moderate incomes. Fintech Sandbox #financialinclusion #fintech #socialimpact
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We’re thrilled to kick off our panel today at 1:30pm at the Fintech Sandbox Innovation Forum during #BostonFintechWeek on "The Lifelong Journey: Empowering Financial Well-being & Innovations in Workplace Benefits." If you're passionate about financial well-being, especially for low to moderate income (LMI) workers, this discussion is for you. We’ll be diving into insights on how inclusively designed workplace benefits can reshape the financial future of millions, especially those who need it the most. Join us to learn: ➡ How leading fintech companies are driving financial wellness through inclusive workplace solutions ➡ The critical role employers can play in helping employees overcome financial insecurity ➡ Long-term strategies for enabling wealth-building for LMI workers Let’s explore how we can create sustainable, lifelong financial well-being for all workers. We’re excited to see you there! Timothy Flacke Edward Gottfried Betterment George Lambert Vestwell Kimberly Monty Holzel Goodwin Finance #FinancialWellbeing #WorkplaceBenefits #InclusiveDesign #Fintech #LMIWorkers #EmployeeWellness #Commonwealth #WealthBuilding #FinancialInclusion
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“It is increasingly urgent to address the gender gap in retirement security,” states a new report from U.S. Department of the Treasury examining the state of women’s retirement security. We couldn’t agree more! We are honored to have Commonwealth research from our work on BlackRock’s Emergency Savings Initiative cited in their report, “Spotlighting Women’s Retirement Security.” Our research shows that having lower or no liquid savings increases the likelihood that workers will pause or reduce contributions to retirement savings. Read more from the Treasury report: https://lnkd.in/gEBAxfAc Read more from Commonwealth. See the link to our research in the comments. #401k #FinancialWellness #RetirementSecurity #RetirementPlanAdvisors #WomensRetirement #FinancialSecurity #RetirementSavings #SECURE20 #EmergencySavings
Spotlighting Women’s Retirement Security
home.treasury.gov