Weekly Report 3-12

D-MARS: Share with our readers your background and experience.

MWM: I started back in 1988 as a stockbroker trainee with Merrill Lynch, from there I moved to Washington, DC, and worked as an Insurance Agent with New York Life. It was in DC that I learned how to survive as a self-employed professional. I moved back to Louisville and started as a Financial Advisor with American Express Financial Advisors. (They were called IDS at the time.) While at American Express I developed my financial planning skills and grew my practice to the point that I started my own Registered Investment Advisory Firm; Marshall Capital Management Group, which later became Marshall Wealth Management,

Be Deliberate With Marshall

BUILD WEALTH.

LLC. I got to this point in my career by continuing to learn, building great relationships, and staying true to my market base, which has always been the Black community.

D-MARS: Tell us about some of your community involvement.

MWM: Marshall Wealth Management, LLC continues to be very active with various community organizations, educating our community and children on wealthbuilding strategies. Some of the organizations we work with and serve are the Kingdom Builders’ Center and COGIC, among other churches, the National Black Nurses Association, 21st Century Community Learning CentersUS Department of Education, and numerous fraternities and sororities.

D-MARS: What are your short- and long-term goals?

MWM: My short-term goal is to continue developing our Fintech app, “The Hive: Family Wealth Building System.” And being that I do love music, another short-term goal is to learn to play the double bass. Long-term, I want to enjoy a long and joy-filled life with my

family and friends, travel the world, and write more books and useful content that has a financial focus to help others build the wealth they desire.

D-MARS: Do you have a success story that you are able to share?

MWM: So many success stories, but I would say some of the best successes over the last 30 plus years is how we have been able to help transfer wealth from one generation to another and work with the younger generation on their wealth building and legacy planning endeavors. Having a role in the financial education of our community has been extremely rewarding and the results are very measurable. I call that success!

D-MARS: What is the best financial advice you ever received?

MWM: Invest in your growth and the growth of your company, and never give up!

D-MARS: What’s your process for new clients? How do you help them achieve their financial goals?

MWM: We first send them a client questionnaire to get a full assessment of their financial situation, then we make sure that we understand their financial goals and aspirations. After completing the first run of their comprehensive financial plan, we meet with them to review it and make any adjustments needed. From there we start putting in place action plans and investment strategies. The financial plan is a constantly changing blueprint that adjusts with the client’s life changes. We are constantly meeting to review the progress and make needed adjustments. This

n the United States, the average Black and Hispanic or Latino

It’s time to be deliberate in your wealth-building goals. But there’s no shame if you don’t know where to start and you don’t have to do it alone. Marshall Wealth Management is here with over 30 years of experience in this industry. If you are not working with us, then you should be working with another professional. And it should be someone you are comfortable with who talks to you and not over your head. Take those steps to build your financial dreams. The important thing is that you start building today

—James L. Marshall, Jr., senior financial advisor, owner, and president of Marshall Wealth Management, LLC

WEALTH. PROTECT OUR PROSPERITY. Deliberate in Your Wealth-Building Goals Marshall Wealth Management, LLC

households earn about half as much as the average White household and own only about 15 to 20 percent as much net wealth. The disparities on display during the COVID-19 pandemic were a jolt to this nation’s conscience.

Job losses were greater for people of color, many of whom lacked savings to cushion the financial blow. In addition, Black households generally start with less family wealth. McKinsey & Company estimated a $330 billion disparity between Black and white families in the annual flow of new wealth, with 60% of that coming from inheritances. Furthermore, there is no denying that societal changes are needed to address the racial wealth gap.

Though there are factors that contribute to the gap, we as a community need to take responsibility to build wealth. Saving, purchasing a home, investing, starting a business, thinking about future generations,

is a relationship-driven business and we focus on individual needs, not just strategies.

D-MARS: What legacy do you hope to leave?

MWM: My goal is to help grow and transfer $1B of wealth to the Black community. With that said, I hope that my legacy will be that I played a significant role in the process of growing the independence and net worth of our community.

D-MARS: Who are some people you have been inspired by along the way?

MWM: Too many to name! I constantly read about people who have overcome the restrictions of their environment and went on to grow great businesses, build meaningful organizations, and made a significant difference in their communities. These people inspire me. But mostly I am inspired by the focus, generosity, and tenacity of my clients. Working with them is truly a blessing.

D-MARS: Are there any honors or awards you want to mention?

MWM: I'm honored to have been

and having a conversation with a financial expert are some things you can do to start walking in financial freedom. “You don’t have to earn 6 figures to turn the dream of wealth into a reality. However, you do have to live and plan today with that in mind. Building wealth starts with

proper planning at every stage of life,” says James L. Marshall, Jr., senior financial advisor, owner, and president of Marshall Wealth Management, LLC.

James is a familiar and well-respected name in the finance arena, with more than 30 years of success, continuing to receive honors for his work as a wealth builder. Before founding Marshall Wealth Management, he worked for some of the world’s foremost financial institutions including Merrill Lynch, New York Life, and American Express Financial Advisors. Marshall Wealth Management is a whollyowned registered investment advisory firm with offices in Louisville and Houston. “As one of the largest cities in the nation, also seeing the plethora of Black businesses here, expanding in 2010 and opening an office in Houston has been excellent for business. I’m proud to serve Houston and our communities with knowledge, tools, and support to build wealth.” James says.

Creating and Protecting Black Family Prosperity”

• “100 Wealth Building Secrets”

• “Mini Moguls: Lessons in Money Management”

• “A. Fool and His Money: The Financial education of Anthony Fool”

being featured in several newspapers and magazines, such as the Arizona Republic, Louisville Courier-Journal, and Proud Magazine, where he was a contributing columnist; and many more.

asked to participate in the Million Dollar Round Table: “Court of The Table.” The Million Dollar Round Table (MDRT) is the premier global and independent association of the world’s leading life insurance and financial services professionals. Also, I have received Top Producers Awards from various financial institutions, such as Allianz Life, American Investors Life, TruChoice Financial, Sun America, AIG, Fidelity, and American Express Financial Advisors. I’m also a recipient of the Western Kentucky University (WKU) Distinguished Alumni Award.

An author, James developed the “Mini Moguls” financial comic book series. This series is now a book on lessons in money management for kids used in schools, after-school programs, and summer camps.

His other books:

• “Wealth: Unlock the Secrets To

A graduate of Western Kentucky University, James continued his involvement by serving on the WKU Foundation Board and the Board of Advisors to the President. His commitment to encouraging more African-Americans to choose a career in the financial services industry has led him to establish the J.L. Marshall Learning and Living Community at Western Kentucky University, Gordon School of Business. His track record and status in the financial industry have led to him

James hosts a weekly podcast, “100 Wealth-Building Secrets With James Marshall” that you can find on Podbean, Apple Podcasts, Envision-Radio. com, and wherever else you listen to your favorite podcasts.

Connect with James on social media at:

• Facebook.com/james.marshall

• Instagram @marshallwealth

• Twitter @marshallwealth

• Linkedin.com/in/ james-marshall-98441314

• Youtube.com/James Marshall, Financial Educator

To find out more about James L. Marshall, Jr. and Marshall Wealth Management, LLC and to schedule a consultation, please visit www.marshallyourmoney.com.

Sources:

www.theracialwealthgap.com

www.federalreserve.gov

www.mckinsey.com

www.cnbc.com