SUMA Academy Launches Financial Education Initiative for Financial Literacy Month

Multi-platform financial education initiative will help Latinos close the wealth gap and drive economic recovery

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Apr 07, 2021, 09:33 ET

LOS ANGELES, April 7, 2021 /PRNewswire/ -- Today, SUMA Wealth announced the launch of SUMA Academy, a multi-platform financial education initiative to empower the next generation of Latino youth. The effort aims to target Generation Z and Millennials by providing culturally-relevant learning experiences through engaging speaker series and content to support their overall economic growth and break the cycle of generational wealth inequality.

"Empowering young Latinos with financial knowledge is the key to reducing the wealth gap," said Beatríz Acevedo, CEO and co-founder of SUMA Wealth. "They share their learning with friends, family, and their entire community. The Latino Youth Effect is a strong knowledge multiplier. When you teach one, you reach many."

A recent U.S. Hispanic and Latino lives and livelihood report by McKinsey & Company states that Latinos have the potential to add $1.6 trillion to the economy by 2030. However, Latinos as a whole have been the hardest impacted by COVID-19, accounting for more than half of U.S. deaths from the virus despite representing less than one-fifth of the population. The report also indicates that fifty-percent of revenues for Latino-owned businesses come from the five business sectors most affected by the pandemic.

"Supporting Latinos is an investment in our country. This group got the worst of the pandemic, but offers the best route to recovery. We're invested in the wellbeing of this community," said SUMA Wealth co-founder Xavier A. Gutiérrez. "They're going to be drivers of the economic recovery and we applaud collaborators like the Wells Fargo Foundation and the Stanford Latino Entrepreneur Initiative who want to support Latinos on their financial journey, too."

To support Financial Literacy Month, SUMA Wealth will work with financial organizations on launching SUMA Academy to provide the free financial programs and tools to the Latino community. This collaboration will provide yet another platform for both organizations to continue to empower Latino youth, families and individuals financially.

"We're excited to support and collaborate with SUMA Academy," said Luis Gonzalez, vice president of Social Impact & Sustainability at Wells Fargo Foundation. "One of our corporate responsibility goals is to provide no-cost financial educational programs to individuals and communities. We understand the impact Latino Gen Zers have in their families. They're in a unique position where they can influence their own financial future and that of their parents and future generations."

Acevedo is an alumnus of the Stanford Latino Entrepreneurship Initiative (SLEI) Education Scaling Program, which is a collaboration between Stanford University and the Latino Business Action Network (LBAN).

"LBAN applauds the leadership of Beatríz and the efforts of SUMA Wealth to provide financial education and literacy to potential future entrepreneurs," said Jennifer Garcia, LBAN Interim CEO.

All SUMA Academy events are bilingual, no cost and take place during Financial Literacy Month:

Level Up Your Crypto Game: How to start investing in bitcoin, ethereum, and dai, presented by Nadia Álvarez from the Maker Foundation

Available on-demand on April 15th

Become Financially Free! A seminar on financial independence, hosted by Marco Antonio Regil, a television personality, public speaker, author and financial inclusion activist

Available on-demand on April 15th

Maximize Your Chances Of Getting Your Business Loan Approved, presented by Patty Juarez, National Diverse Segments director at Wells Fargo

Available on-demand on April 29th

Become A Certified Minority-Owned Business And Help Your Business Grow, presented by Salvador Enríquez, Supplier Diversity manager at Wells Fargo

Available on-demand on April 29th

To learn about the full series of live events, webinars, and exclusive content, please visit www.sumaacademy.org.

About SUMA Wealth
SUMA Wealth is a financial inclusion platform that inspires, informs, and empowers the Latino community with the vision to help close the wealth gap in our community by creating culturally-relevant content, virtual experiences, and financial tools that reimagine financial wellness through education and entertainment. SUMA Wealth will become the trusted source for the Latino community to help them both overcome current financial challenges and better prepare for a more prosperous future.

Media Contact:
Nadia Gonzalez
Email: [email protected]

SOURCE SUMA Wealth