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The group of millennial grads has formed a circle of support as they navigate smart stock market investing together and offer advice to others.
The idea to form the Cashlennials Investment Club started with three college friends from Baldwin Wallace University who banded together as Black BW alumni with shared passions and interests.
Putting their heads together, BW accounting graduates Alfred Wilson MBA '11, Rodney Santos '12, MBA '13, and Armand Rivers '15, MBA '15, aimed to harness the power of group economics to build generational wealth and teach others about personal finance.
Since the founding five years ago, they’ve added two more partners — BW accounting graduate Jaclyn Lee '12, MBA '12, and public relations graduate Promis Cabbil Jr. '12 — and put together a shared stock portfolio as they navigated a fluctuating market reacting to COVID-19 pandemic economic disruptions.
“We proudly built a five-figure portfolio that has taught us many lessons of consistency, patience and faith,” explains Rivers, an operations compliance manager at EyeMed. “More importantly, the lessons have taught us to stay encouraged and empowered through any economic downturn or upswing.”
The Cashlennials also support Black-owned businesses by hosting "Cash Mob" meetups and leveraging their website and social media platforms to offer empowering tips, merchandise and an ebook, “The ABC's of Investing.”
“The book provides new investors simple definitions of financial terms as a way of understanding stocks,” Rivers says. “Through our social media platforms, we also provide content on the fundamentals of investing, which include definitions and analysis of how to evaluate stocks and exchange-traded funds (ETFs).”
Monthly meetings often feature guest speakers who are experts in fields such as financial independence, real estate, estate planning and venture capital.
In addition to co-founding the Cashlennials, Rivers is a founding member of the BW Black Alumni Network and a member of the BW Alumni Council and says all of the partners view their time at BW as transformative in and out of the classroom.
“We believe the relationships at BW helped us to become the people we are today,” Rivers says. “Our friendships and connections with one another over the years helped to create our club. From an academic standpoint, I believe all of us were given fundamental skills to transition into our respective fields. Each one of us has made career moves that have allowed us to gain meaningful experience providing value to our companies.”
Prior to joining EyeMed, Rivers worked in auditor roles at Sherwin Williams, General Motors and JP Morgan Chase.
Rivers says while each of the five partners had their own “things” in college with involvement in residence life, athletics, Greek Life or faith-based organizations, “I believe our passion for group economics and financial freedom led us all back together” after graduation.
Find more information at thecashlennials.com.
