ABOUT
WHAT?
New Street sits at the intersection of urban culture and lifestyle and traditional Wall Street
This platform is here to connect the dots of worlds that seem so far apart
The New Street platform is dedicated to increasing awareness, education and active participation finance, wealth and investing — particularly for the people who Wall Street hasn’t traditionally recognized as players in the game (women, minorities and millennials).
As the newest players on the “Street” – women, minorities and millennials are constantly changing the world as we know it, yet we play such a small role in the distribution and control of capital and wealth. Our ideas have had significant cultural impact, and our influence provides substantial economic returns for Wall Street and other institutional giants. However we never tend to be the beneficiary of this wealth.
At the intersection of culture, opportunity is born,
Therefore our motto is very simple:
Our Ideas. Our Culture. Our Influence. Our Wealth.
Welcome to The New Street!
Founder's Story
WHO?
Mirandy Worthy, CFA
Founder, Managing Partner
I've spent my entire career ( 10+ years ) on Wall Street, almost all of those years as the only black girl on the the trading floor. I used to pride myself on that fact,,, that I was the only one. I would take it as some type of badge of honor, indicating that I made it somehow, Those were my younger, self-serving days. Today, I cringe. Now I am truly disheartened at how few people of color and women lack the opportunities to join the party I;ve been priviledged to play in for so long.
I see how important our contributions are to making others extremely wealthy, and how disproportionate our opportunities are to build the wealth ourselves. So I’ve created New Street. For people like me. For the new players ( minorities, women, millennials) who in reality are shaping culture and Wall Street as we know. it.
New Street is a reflection of me, Its the intersection where all things urban, black, cultured, young meet old Wall Street . And New Street is here to even the playing field, and this is very important because quite fanrkly, the numbers don't add up:
The data doesn’t add up.
Black culture defines mainstream consumer patterns, yet
Only %% women run portfolios, but the returns are equivalent or equal to men.
Millinials come up with the ideas, we created Facebook, but who owns most of the stock?
The main focus of this platform is to provide awareness and education about wealth and investing and to encourage active participation for those who have traditionally sat on the sideline as the wealth inequality gaps in this country continue to grow. THe New Street WEALTH blog.
I decided to start this WEALTH blog after many, very many, inquires from peers about money advice, finances and investing. I’ve always been 'that' friend (because what other cool chicks on Wall Street would you know?). But the truth is, regardless of my job title, I've been addicted to budgeting and investing for as long as I can remember. It’s ingrained it me
It always would shock me how my very successful peers ( lawyers, doctors, marketing execs, fellow bankers, etc — the talented tenth, i'd call them) knew very little about building wealth outside of their salary income. Meanwhile, It seemed so natural to me.
I would have candid conversations with my friends about the stock markets and investing, and they would always be in awe. THey've helped give me received constant reinforcement that content like this is needed and appreciated.
Wealth is a mindset.
I've come from humble beginnings, and have done very well building wealth through proper lifestyle management and successful investing (equities, bonds and now real estate. I am a fundamental believer in financial freedom, and struggle with the lack of power that comes from economic inadeqaucy. As a eople, I wanted better for us.
For years, I've always been that person all my friends come to with questions around finance and constantly asking for investment advice. I know that people are hungry for information,, but the resources are simply not there. And it definitely doesn't come from a relatable source who thinks similar. There aren't people they can trust.
WHY?
New Street FACTS
Black Wealth Statistics
between 1983 and 2013 Black and Latino median wealth has declined by 75% and 50% respectively. White median household wealth has increased 14% to $116,800 ( compared to $1,700 for black and $2,000 for Latinos).
Black and have less in liquid retirement savings. in 2016 whites had $130,000 more ( 6 times)) in liquid retirement savings than black and Latinos
Median black wealth is projected to fall to $0 by year 2053
Women Inequality and Gender Gaps
Millennials and Money
3 in 5 millennials lack stock market exposure
HOW?
New Street WEALTH blog
The New Street WEALTH blog dedicated to increasing awareness, education and inclusion in the world of finance, wealth and investing— particularly minorities and millennials. This is a place where you can get answers to questions you didn't even know to ask! This blog targets urban millennials who have traditionally not been exposed to knowledge around finance wealth an investing. e. It's one thing to master budgeting and savings ( and all the basics of financial literacy 101), but investing is an entirely different ball game! Millennials in particular are crucial given how involved the investment community has become over the last 20 years, Ahe THis blog is it’s a place to get information on how to build wealth, how to invest, retirement tools, and the fast pace.
New Street INVESTMENT
New Street advocates for investment in culturally diverse, forwardly mobile and socially conscious causes. Our vantage point as women and urban millennials of color allow us to identify market opportunities that have traditionally been overlooked or undervalued by Wall Street. Unanimous consumer research supports the notion that Blacks influence main stream opinion, which impacts consumerism, social change and policy.. Our diverse perspective alone, gives you an early movers advantage -- creating a tangible economic arbitrage
Additional, we believe in promoting equitable access to capital for women and minority entrepreneurs
New Street ADVISORY
We are help to help. Advisory and Consulting services are available upon request