Bolder Money, Beta Boom‘s most recent FinTech investment, seeks to become the trusted partner for the 40 million under-invested millennial women as they earn more and build wealth.
The next generation of women are controlling an increasingly large portion of wealth in America. By 2030, American women will collectively manage over $30 trillion in assets (over 20% of all household wealth) and currently hold $5 trillion in assets that are not managed by financial advisors. Yet, millennials lag behind Gen X in net worth by more than 20%, 77% say money worries them, and two-thirds say they don’t feel understood by financial advisors. This indicates that as women gain more control over wealth, they also need more support in managing their money. That’s where Bolder Money comes in.
Bolder Money helps women who don’t currently work with financial advisors, often millennial women, achieve their financial goals by addressing the commonly overlooked emotional and behavioral side of money. Bolder Money’s mission is to provide empathetic and accessible guidance for women to help them feel more empowered and in control when it comes to achieving their financial goals and building wealth.
The underlying thesis behind Bolder Money is that there isn’t a literacy gap when it comes to money. Instead, there is a confidence gap that can be solved by providing accessible support, via online coaching, that focuses on how people behave around and relate to money. This approach builds trust and a long relationship with clients as they start achieving their financial goals and increase their assets.
Bolder Money’s founders are perfectly suited to tackle this behemoth issue because they have had first-hand experiences with the impacts, complications, and emotional rollercoaster of managing one’s money.
Amy Schultz, the Head Money Coach and Co-Founder at Bolder Money, began her career helping companies manage wealth as an actuary, but became a money coach after recognizing how ill-prepared she was to manage her own money despite her financial background. As a Certified Money Coach, Amy utilizes a powerful psycho-dynamic coaching model that combines practical financial guidance with sound coaching principles to help clients deeply explore, understand and transform their relationship with money. It’s Amy’s approach to money coaching that serves as the backbone for Bolder Money.
Similarly, Sid Singh, like most people, has always had a complicated relationship with money. Sid has spent the last few years working with the biggest financial services companies seeing how, despite their best efforts, their customers remain caught in a cycle of confusion, anxiety and debt. When Sid saw his closest friends and family sacrificing their wellbeing for money, or staying in jobs and relationships they hated because of “security,” he knew there had to be a better way. Sid partnered with Amy to build Bolder Money after receiving coaching from her and realizing that they shared a heartfelt mission to help people gain agency and control over their money, which affects all aspects of people’s lives.
Bolder Money is already delivering on their mission, and the results speak for themselves. Their clients see an average increase in net worth of over $25k including a $5.1k in savings and open an average of 4 new financial products that help them manage and build wealth. We at Beta Boom are thrilled to partner with Amy and Sid as they grow Bolder Money to make millions of women bolder with their money.
If you would like to learn more about Bolder Money, or to get connected to the founders for potential partnership opportunities, reach out sergio [at] betaboom.com.