Maci Peterson Philitas is a platform founder, CEO, and former non-public wealth strategist serving to others construct, develop, and switch generational wealth. As co-founder and CEO of On Second Thought (OST), she led the creation of a patented messaging infrastructure utilized in over 190 nations. She additionally served as Vice President at Bernstein Non-public Wealth Administration, the place she helped design the agency’s Rising Wealth and Multicultural methods.
Philitas has based a number of revolutionary platforms addressing monetary literacy and entry throughout completely different demographics: I Look Like an Investor, a group for Black ladies investing in startups; Eagle Rock Youngsters, a media platform instructing monetary literacy to preschoolers; and NextGen Acquisition Companions, an AI platform connecting Child Boomer sellers with Millennial patrons.
Her groundbreaking work has earned recognition from BBC, Inc., Forbes, and NPR. She at the moment resides in Montclair, NJ together with her husband and two sons, whereas persevering with her mission to democratize monetary data and create pathways to generational wealth.
On this unique interview, Philitas discusses her entrepreneurial journey, the inspiration behind her instructional platforms, and her imaginative and prescient for empowering communities historically underserved by mainstream monetary establishments.
What impressed the idea of Eagle Rock Youngsters, a monetary literacy platform for preschoolers?
The primary is, I’ve a four-year-old son, and a few years in the past, most likely like a 12 months and a half in the past, we began instructing him the basics of studying, phonics. We enrolled him in Kumon, and as we had been going by way of the workout routines, I believed to myself, if we’re instructing them the foundations of language and studying at three and 4 years previous, why aren’t we instructing them the muse and the basics of private finance, particularly since their minds are so malleable.
It’s the proper time to show them wholesome cash behaviors in addition to relationships, and past that. What only a few folks know is that almost all of our cash behaviors are discovered and set in stone by the point we’re seven.
Educating that on the preschool age is extremely necessary. Along with that, I used to be a Vice President at Alliance Bernstein on the time, which has a non-public wealth administration enterprise. And I used to be constructing instruments to assist households facilitate multigenerational conversations about wealth—people who included, the youngest members of our households. And so with my expertise at house with my son and my work centered on serving to households discuss wealth, I believed we want a product and a system that teaches these youngsters how to consider cash even from a younger age.
How can mother and father and kids have interaction with Eagle Rock Youngsters?
Eagle Rock youngsters we’re story pushed. We educate these ideas by way of tales after which rituals to assist reinforce the lesson. You will discover them at eaglerockids.com. You possibly can join a digital or bodily subscription, and we’re blissful to share it with you as quickly as you enroll.
What impressed you to launch “I Look Like an Investor” and what obstacles do Black ladies face when investing?
My foremost inspiration behind I Look Like an Investor was twofold. One was selfishly as a black feminine founder. On the time I used to be the CEO and co-founder of my first tech firm referred to as on Second Thought, the place we invented the flexibility to take again textual content messages earlier than they get to the opposite particular person, and we’ve three patents on that, and I as being one of many first handful of black ladies to have raised over one million {dollars} in outdoors capital, I discovered that it was extraordinarily exhausting.
A part of the rationale why it was exhausting was as a result of sample matching exists, and it’s one thing that, fairly frankly, we will’t assist. We need to help individuals who appear to be us, who really feel like us, who’ve the identical experiences as us, and who come from the identical backgrounds. However on the finish of the day, I wasn’t going to have the identical sample as, Chad from Center America who was a enterprise capitalist at one of many main companies.
And so I figured, if we will’t change that, then we have to have extra buyers whose sample is extra like mine. If we’re going to sample match, let’s have extra Black feminine buyers. A part of the inspiration—was to make it simpler for Black ladies to boost cash generally.
The opposite cause was as a result of my husband and I had been starting to consider angel investing, and so had been lots of our associates. And whereas I’d had the expertise as an operator, I hadn’t essentially had the expertise of an investor. I began reaching out to Black feminine buyers who I knew, and I believed to myself, I’ve an ideal community and I can simply have these conversations.
However there are such a lot of ladies who can’t. There’s so many ladies who’re accredited buyers or keen on dabbling on this, however they don’t know Monique Woodard. They don’t know Erica Duignan Minnihan, they don’t know Sydney Thomas.
And so I launched I Look Like an Investor to supply different ladies with the identical entry that I had, and to supply different ladies with the chance to study their playbooks in order that they might then develop into buyers as properly.
As a builder of platforms, what makes an ideal founder past the concept?
There are a few issues. One, it’s not even simply an thought—it’s going on the market to unravel an issue. And fixing an issue that, for me, I feel what’s necessary is it could change the trajectory of lives of others.
For even my first enterprise, which was a digital journal that I began whereas I used to be in faculty, it was all about serving to Black ladies develop into one of the best model of themselves and giving them the instruments to be world leaders in our society. Even with On Second Thought, it was about fixing textual content messages, which a unsuitable textual content can change the trajectory of your life.
After which for Eagle Rock Youngsters, it’s about instructing these ideas early. In order that our youngsters, of all backgrounds, have a wholesome and rich mindset that may change the trajectory of their lives. That’s the very first thing—discover an issue that you simply need to remedy.
The following factor is, plenty of folks have the concept, however they don’t act on it. They don’t do something with it. They’re like, “Oh, I considered that, and I by no means—”
The following step is simply performing on the concept. After which I feel the third factor is to be nearly obsessed together with your buyer. My first step, at any time when I strategy any enterprise or venture, is to speak to the client, discuss to the market, discover out what their wants are, after which I construct to their wants.
What are you most trying ahead to on the upcoming Roadmap to Billions occasion?
I like occasions like Roadmap to Billions for a few causes. One is simply the convening of Black ladies, of good Black ladies. I spent a part of my faculty profession at Spelman, and I simply love being amongst my sisters. That feeling of reunion, that feeling of simply, taking of their brilliance, studying from their brilliance, and simply strolling away feeling like my soul has been crammed and impressed. And in occasions like these, these areas and environments are extra necessary than ever.
The opposite factor, and it’s form of tangential to that, is listening to from Black ladies who’re simply crushing it.
Like these programs weren’t created for us to succeed, and for us to have the chance to interact in pure studying and listening to from others about their playbooks, or whether or not it’s to encourage one another or commiserate with one another. It’s simply all the time an ideal and wholesome and fulfilling atmosphere. And so, except for the content material, I’m excited concerning the folks.
How can folks comply with your journey and study extra about your platforms?
You possibly can comply with me on Instagram. My deal with is at @maciphilitas or @eaglerockkids as properly. I’m additionally on LinkedIn, yow will discover me there and subscribe to Eagle Rock Youngsters in addition to our e-newsletter to remain updated about all of our new merchandise and tales and journeys and rituals. We even have a LinkedIn Group, which yow will discover simply by trying to find “I Look Like an Investor.”