October 3 denotes a special milestone for SHENIX®, powered by FARO Advisory, a groundbreaking leading educational fintech platform designed specifically for Latinas, which is marking the first anniversary of its launch. The free app, available on Apple's IOS and Google Play stores, empowers Latinas and anyone who identifies with this group to make informed financial decisions for themselves, their families, careers, businesses, and communities.
CHICAGO, Oct. 2, 2024 /PRNewswire-PRWeb/ -- October 3 denotes a special milestone for SHENIX®, powered by FARO Advisory, a groundbreaking leading educational fintech platform designed specifically for Latinas, which is marking the first anniversary of its launch. The free app, available on Apple's IOS and Google Play stores, empowers Latinas and anyone who identifies with this group to make informed financial decisions for themselves, their families, careers, businesses, and communities.
The anniversary also falls on Latina Equal Pay Day, which addresses the wage gap between Latinas and their peers. Part of SHENIX®'s mission is to not only help Latinas with their finances but also support them as they close the wealth divide.
Olga Camargo, CEO and founder of the Chicago-based SHENIX®, is excited to announce the new updated app features, which include financial planning software, opening brokerage accounts, investing advice, and access to career leadership programs.
"This Hispanic Heritage Month and Latina Equal Pay Day, SHENIX® is proud to share its new app updates that will help Latinas, and anyone get closer to reaching their financial goals," she said. "All registered users can now access free financial planning software that will allow them and their family members to know more about their money and how to better plan these funds for financial goals like education, business, wealth building, and retirement. The app also allows U.S. Latinas and family members living in the U.S. to open brokerage accounts using their social security number or Individual Tax Identification Number (ITIN) IRA, Roth, IRA, Solo 401k, SEP IRA accounts for personal and small business needs. As always, users have access to career coaches and English and Spanish-speaking financial advisors."
Camargo and other Latina business owners still see more work needs to be done to reach wage parity for Hispanic women. According to AAUW, "Latinas working full-time, year-round were paid 57 cents for every dollar paid to non-Hispanic white men in 2022, which increased to 58 cents in 2023. All earners, which also includes part-time and seasonal, were paid 52 cents for every dollar paid to non-Hispanic white men in 2022, which decreased to 51 cents in 2023."
However, some statistics notice much growth in Latino/a entrepreneurs. The Latino Donor Collaborative, a 501(c)(3) Beverly Hills-based nonprofit organization dedicated to reshaping the perception of Latinos as part of the American social mainstream, shared a 2024 statistic saying "that Latinos have higher rates of new business ownership compared to any other racial or ethnic group with 0.60% of Latinos starting new businesses compared to 0.35% for overall U.S."
"Latinas have continued to open businesses across the U.S. to not only bring new services and products to the market but also to successfully close the wage gap and create new job opportunities for others," she said. "We are living in an era where Latinas are intentionally shaping the future of Latino finances within the many spaces that they increasingly control."
About SHENIX®
SHENIX®, powered by FARO Advisory, is an innovative fintech company dedicated to providing educational resources and tools to empower Latinas in their financial journeys. With a deep understanding of the unique challenges faced by Latinas, SHENIX® is committed to equipping them with the knowledge and resources they need to make the best financial decisions for themselves and their communities. For more information, visit https://SHENIX.app/.
All Investment Advisory Services are provided by Centric Wealth Management, LLC d/b/a SHENIX®, an SEC Registered Investment Advisor. Registration with the SEC does not imply a certain level of skill or expertise. SHENIX® is affiliated with and controlled by FARO Advisory. SHENIX® and FARO Advisory are not affiliated with Centric Wealth Management, LLC. Additional information about Centric Wealth Management, LLC d/b/a SHENIX®, is available in its current disclosure documents, Form ADV Part 1A, Form ADV Part 2A Brochure, and Client Relationship Summary report which are accessible online via the SEC's investment Adviser Public Disclosure (IAPD) database at http://www.adviserinfo.sec.gov, using SEC #801-63837. Centric Wealth Management, LLC does not offer or provide legal or tax advice. Please consult your attorney and/or tax advisor for such services.
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