HELPING COMMUNITIES OF COLOR
Reaching out to Communities of Color
In partnership with BNY Mellon’s Pershing, with additional support from AssetMark, FFP is proud to expand our support of pro bono financial guidance programs in communities of color, helping connect more Black and Brown families to CERTIFIED FINANCIAL PLANNER® professionals during a time of economic uncertainty.
- According to data from the Federal Reserve, White families own 83.9% of the nation’s household wealth, compared to 4.1% owned by Black families and 2.5% owned by Hispanic families – a breakdown that has hardly changed in 30 years.
- Lower loan approval rates, lower homeownership rates, lower personal wealth, and higher interest rates are just a few of the lasting effects of decades of financial discrimination against Black families.
- Black mortgage loan applicants are turned away at significantly higher rates than White applicants – in fact, the national homeownership rate for Black families is 44%, compared to 73.7% for White families. As Black Americans continue to face mortgage market discrimination, they rely heavily on consumer debt, and are consistently charged higher interest rates than White Americans.
How We Are Helping
Thanks to support from Pershing and AssetMark, FFP has expanded its grant pool since 2021, offering 3-4 designated grants annually to organizations serving primarily people of color. These grants will support a range of programs that deliver quality financial advice and planning to underserved families, providing them guidance on debt management, budgeting, education planning, homebuying, retirement and more, and helping them achieve a more stable financial future.
“Communities of color have traditionally been limited to access in a number of areas, from education to recruiting to advancement, and more. This initiative is in line with our commitment to continually leverage the company’s resources to increase the impact of community support for underrepresented populations. Initiatives that actively help bridge a gap will make a difference, and serve to empower our communities of color.”
– Tonia Bottoms, Managing Director, Senior Managing Counsel and Diversity Advocate for BNY Mellon’s Pershing
2026 Communities of Color Grantees
Bedford Stuyvesant Restoration Corporation
Bedford Stuyvesant Restoration Corporation (Brooklyn, NY) works to close gaps in family and community wealth to ensure that all families in Central Brooklyn are healthy and prosperous. Eighty-seven percent of program participants are people of color, including 75% from the Black community. With continued support from the Foundation for Financial Planning, Restoration is carrying on its financial counseling program, connecting clients with CFP® professionals who provide guidance on core financial topics that help residents strengthen financial knowledge and build pathways to lasting intergenerational wealth.
Britepaths
Britepaths (Fairfax, VA) is dedicated to addressing the unique needs of individuals and families living in poverty or experiencing financial crisis, serving more than 7,000 households annually in Fairfax County. Over 50% of Britepaths’ clients are people of color. With continued support from the Foundation for Financial Planning, Britepaths is continuing its Financial Counseling Clinics and Financial Empowerment Center, engaging CFP® professionals to provide financial advice and guidance that supports families as they work toward greater financial resilience, stability, and self-sufficiency.
Flyte
Flyte (New Orleans, LA) empowers entrepreneurs and their families with the skills and resources needed to overcome systemic financial inequities. Its flagship Entrepreneur Empowerment Program serves 140 early-stage small business owners each year, more than 95% of whom are Black women with children. With continued support from the Foundation for Financial Planning, Flyte is continuing its personal finance training and one-on-one mentorship program, connecting entrepreneurs with CFP® professionals who help strengthen household finances and lay the groundwork for long-term economic mobility.
Jubilee Housing
Jubilee Housing (Washington, DC) provides deeply affordable housing alongside supportive services that promote stability, opportunity, and upward economic mobility. Through its Jubilee Housing Stability & Financial Empowerment Program, Jubilee integrates social services and financial education to help residents achieve lasting housing and financial security. Sixty percent of program participants are Black and 40% are Latino. With support from the Foundation for Financial Planning, Jubilee is launching a new pro bono financial planning initiative that will serve 40 families by connecting residents with CFP® professionals who provide personalized guidance to support financial decision-making, reinforce housing stability, and promote long-term economic mobility.
The Communities of Color Initiative is presented by
Additional support provided by
