- August 25, 2020
- Posted by: Ajene Watson
- Category: Coffee Talk
DigitalAMN is currently in talks with Wall Street Bound regarding a partnership that will support their initiative to aggressively address the financial industry’s massive diversity pipeline problem, while helping DigitalAMN continue to foster financial literacy and grow our base of future investors.
Since the horrific murder of George Floyd, many existing inequalities and tensions have been highlighted—particularly those greatly impacting minority communities. One such topic is the lack of diversity on Wall Street. News outlets such as CNBC have been speaking with people like Jim Reyolds of Loop Capital and Troy Prince of Wall Street Bound, to gain more insight on this issue. The message was clear: real change must be addressed.
Wall Street Bound (“WSB”) connects top-tier financial firms serious about diversity with their curated pool of talented young people ready for meaningful careers in finance. Through their financial bootcamps, WSB provides practical foundational knowledge, trading experience and the accreditation necessary for a career in finance— including FINRA SIE & CFA Institute Investment Foundations’ credentials. WSB erases the notion that you need an Ivy league education and social capital to successfully trade at top levels.
Through a partnership with Maverick Trading, WSB students are alloted $25K in capital to trade. This gives them practical, real world experience. And as anyone with a Wall Street background knows, your P&Ls are everything—an experience most Ivy Leaguers don’t even have when they enter the job market! No one that we know of is doing this, particularly of this magnitude. It’s bold, practical and effective. Most of all, it’s necessary and long overdue.
Remember, doing good while doing well is the DigitalAMN mantra. The projects we endeavor to develop and/or support, should inherently offer some type of community value or align with our core values in such a way, we can nurture and harvest social and economic opportunities that can positively impact the disenfranchised, underserved and underrepresented. And as previously mentioned, we believe that the arrangement we are discussing with WSB will in fact grow our base of future investors, as well as support aspects of our revenue model and shareholder value.
Also, Wall Street Bound’s founder, Troy Prince, is a Bronx native, just like DigitalAMN’s founder
Troy has established himself as an expert trader and consummate professional with over 25 years of experience. He has traded for some of the most prestigious houses around the world, learned multiple languages and successfully navigated Wall Street’s financial structures. He is certainly well-versed in those very areas of Wall Street that are in need of improvement from firsthand experience of their diversity limitations.
Troy’s program benefits both students and employers with an exciting setup that fits within our value system of doing good while doing well. Since the financial industry has long promised to address diversity, with the most recent declaration being the pledge of 100,000 hires over the next decade… man, we just want to help push it along. This problem however, cannot be fixed with a handful of minority hires. The ranks of each organization must be filled with diverse employees, promoting them and going much further than hiring a lonely ‘only’. WSB’s scalable programs make it possible for companies to hire en masse and effect real change.
As we prepare for the next phase of our capital raise, DigitalAMN intends to become a capital partner to this unique and incredibly important non-profit, with the anticipation to drive the change we need to see on Wall Street and exponentially grow the DigitalAMN ecosystem as a new breed of investor is cultivated to strengthen our base.
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