Minorities have always struggled to close the black financial wealth gap because they lack access to education and capital. However, financial planning is the key to closing the black wealth gap and having financial security in your life. Financial planning is structuring one’s finances for the future, which may include planning for retirement, career, and education. Join this conversation with Celandra Deane-Bess and learn more.
Celandra Deane-Bess, CFP, is the Senior Vice President and Capital Area Market Leader for PNC Private Bank. She oversees a team of professionals striving to achieve the highest level of client satisfaction. Through Celandra’s leadership and commitment, she helps ensure that the client benefits from a full complement of investment, trust, financial planning, and private banking services to help them achieve their financial goals.
In this episode, we discuss: Celandra’s journey into banking, the importance of financial literacy & generational wealth, the resources & tools PNC Bank offers small businesses to help achieve their goals, and the Issues MBEs have been struggling with since the onset of the pandemic.
Here’s What You’ll Get In This Episode
[00:23] Episode intro and a quick bio of today’s guest
[04:34] A bit of Celandra’s and what she does in her space
[06:42] Though the cost of college is astronomical, the benefits are uncomparable
[09:34] Her personality and why she chose to venture into the financial industry
[15:10] Mentors she has had along her journey, and their impact on her life
[17:25] Resources & tools PNC Bank offers small businesses to help achieve their goals
[20:39] Importance of good cash flow management and credit ratings
[33:01] How traumas among people of color lead to a lack of partnerships in business
[23:18] Benefits of having a good relationship with your banker
[26:08] How MBEs can prepare for the future and build assets
[29:23] Ending the show and call to action
- It is much worth making the financial sacrifice to go to college. A college education is valuable.
- It takes a plan and time to make money, contrary to the popular opinion that it takes money to make money.
- If you fail to plan, you plan to fail.
- Entrepreneurship is the key to closing the black wealth gap.
- The more your bankers know about you and your business, the better they can help you.
- Keep your financial house in order, stay focused, and ensure you select and maintain some partnerships and sustainability.
Connect with Celandra Deane-Bess