NEW YORK--(BUSINESS WIRE)--Public.com, the investing platform that helps people become better investors, and First Generation Investors (“FGI”), a non-profit organization that works to provide high school students in underserved communities with the knowledge and skills to thrive in the investment economy, today announced a partnership to accelerate investing literacy across FGI’s 40 chapters nationwide.
As part of its robust financial literacy curriculum, FGI mentors and volunteers work with high school students to manage stock portfolios via custodial accounts run by FGI. Upon completion of the FGI program, and turning 18, FGI students will “graduate” to a real portfolio on the Public.com app. Public.com will match each student portfolio with $100 additional to invest.
The partnership comes during a record-setting time for retail investing generally, with tens of millions of new brokerage accounts opened since the start of the pandemic. But new research by Public.com and Non-Fiction shows that new-wave app investors don't typically come from families who taught them about investing. In fact, a majority of them are first-generation investors: 56% of respondents say their parents don’t own stock.
"We are so excited to partner with Public.com to help our students turn their knowledge into power,” said FGI Head of Partnerships Charlie Ewig. “Thanks to Public.com, we will be able to equip our program’s recent graduates with accounts and funds so they can build on what they have learned at FGI -- tomorrow and beyond.”
FGI chose to partner with Public.com due to the app’s focus on responsible, long-term investing and built-in educational features where students can continue their learning and development alongside other program participants in Public.com’s active and diverse community of investor members. Students can participate in chat groups so they can continue learning alongside fellow FGI program participants and mentors.
“The idea of compounding is usually associated with financial gain—but education has a compounding effect over time, too,” said Katie Perry, VP of Marketing at Public.com. “Being exposed to financial literacy and mentorship at a younger age is a powerful unlock and we’re thrilled to support FGI and its program participants as they continue on the journey of becoming better investors.”
“FGI's mission is to help young adults invest with confidence, and we are very pleased to have found a partner who shares this goal and is so willing to support our work," Ewig added.
About Public.com
Public.com is an investing platform that helps people become better investors. Members can build a diverse portfolio of stocks, ETFs, and crypto within a single platform. On Public, ownership unlocks an experience of content and education, contextual to their portfolio, created by a million+ strong community of investors, creators and analysts. Public puts investors first, and doesn't sell trades to market makers or take money from Payment for Order Flow (PFOF).
Open To The Public Investing is a member of FINRA and SIPC. Learn more at www.public.com.
About First Generation Investors
Founded in 2018 by University of Pennsylvania students Alex Ingerman, Dylan Ingerman and Cole Mattox, First Generation Investors (FGI) is a non-profit organization that works to provide young adults with the knowledge and skills to thrive in the investment economy. FGI is a volunteer-based program that teaches high school students in underserved communities the power of investing and brings classroom lessons to life by providing students with real money to invest. In the spring of 2019, FGI piloted the program with three local Philadelphia high school students. FGI has since expanded its program from three graduates to nearly 500, supported by almost 200 volunteers at 25 college campuses nationwide. In the fall of 2021, FGI expects to have more than 40 chapters nationwide.
For more information, please visit https://www.firstgenerationinvestors.com/.
