Our Mission
Wealth has a history. Together, we’re writing what comes next.
Black, Hispanic and Latino, Asian, Native and immigrant families have always built wealth: through hard work, through community and through each other. But for generations, the system was designed to keep that wealth from growing and from being passed down. CHIP exists to change that, one family and one trusted financial professional at a time.
The Numbers
The wealth gap is real, and it’s wide.
Median family wealth in the U.S., 2022:
$285,000
White families
$61,600
Hispanic families
$44,900
Black families
That means the typical white family holds more than six times the wealth of the typical Black family and more than four times the wealth of the typical Hispanic family. Income explains only part of the difference. The rest comes from what families were able to own, keep and pass down: homes, land, businesses and savings.
Asian American families had the highest median wealth in 2022, at about $536,000, but that average hides wide differences. Wealth varies greatly across Asian American communities depending on country of origin, when families arrived and the barriers they faced.
And the people giving financial advice rarely reflect the people who need it.
2.0%
of CFP® professionals are Black, while Black Americans are 13.5% of the U.S. population
2.9%
of CFP® professionals are Hispanic or Latino, while Hispanic and Latino Americans are 20.5% of the population
<1 in 20
CFP® professionals are Black or Hispanic, while together these communities are about 1 in 3 Americans
The History
The gap wasn’t an accident. Neither is our resilience.
Understanding where the gap came from helps explain why trusted guidance matters so much today. These are a few of the moments that shaped it.
1848 and after
Land loss in the Southwest
After the 1848 Treaty of Guadalupe Hidalgo, many Mexican American families who became U.S. citizens lost land they had held for generations, through costly legal challenges, disputed titles and taxes. Communities answered with mutualistas, mutual aid societies that pooled money for burials, loans and support.
1865–1874
The Freedman’s Savings Bank
Chartered by Congress to serve formerly enslaved people, the bank drew tens of thousands of savers, most with accounts between $5 and $50. Poor oversight and mismanagement led to its collapse in 1874, leaving 61,144 depositors with losses of nearly $3 million. Many only ever recovered part of their savings, and trust in banks took generations to rebuild.
1882–1913
Exclusion and alien land laws
The Chinese Exclusion Act of 1882 barred Chinese laborers from immigrating, and laws such as California’s 1913 Alien Land Law kept many Asian immigrants from owning farmland. Families relied on rotating savings circles, known as hui, kye and tanomoshi, to fund homes and businesses.
1887
The Dawes Act
Native nations controlled about 150 million acres before the Dawes Act divided tribal land into individual allotments. More than 90 million acres were stripped away and sold to non-Native buyers.
1921
Greenwood, “Black Wall Street”
Greenwood in Tulsa, Oklahoma, was a thriving Black business district. In about 18 hours, a white mob destroyed more than 1,000 homes and businesses, and estimates of the dead range from 50 to 300. The wealth built there was never restored.
1930s onward
Redlining
Federal maps graded neighborhoods by “risk,” and Black and immigrant neighborhoods were routinely marked as hazardous. For decades, families in those neighborhoods were shut out of the mortgages that built middle-class wealth for millions of other Americans.
Every Culture Builds Wealth
Our communities have always known how to build together.
Long before many of us had access to banks, we had systems of our own. That knowledge is an asset, and the right financial professional knows how to build on it.
Black wealth
From Greenwood to Black-owned banks, churches and family businesses, Black communities have built wealth again and again, often after it was taken. Today the work is about growing it, protecting it with estate planning and passing it on, including the family home and land.
Hispanic & Latino wealth
Tandas and cundinas, family businesses, multigenerational households and support for relatives at home and abroad are part of how many Hispanic and Latino families build. Many are first-gen wealth builders doing it while supporting parents and children at the same time.
Every culture, every story
Asian American, Native, Caribbean, African immigrant and other communities each bring their own traditions, from savings circles like susu and hui to deep commitments to family. Good financial planning starts by understanding those values, not ignoring them.
Why It Matters
The right professional changes everything.
Money is personal, and it’s cultural. A financial professional who understands your background is more likely to understand your goals, and you’re more likely to trust their advice and act on it.
They get the full picture
Supporting parents, sending money home, being the first in your family to invest, or carrying a family’s hopes on your shoulders: a pro who has lived it doesn’t need it explained.
They build trust where it was broken
After generations of exclusion, many families are cautious about financial institutions, and for good reason. Advisors, CFPs, CPAs, insurance agents and estate attorneys from these communities help rebuild that trust.
They lift whole communities
When professionals invest their expertise in the communities they come from, the impact multiplies: more homeowners, stronger businesses, protected estates and wealth that stays in the family.
Spread the Word
Love your financial pro? Invite them to CHIP.
We love spreading the word about great people. Tell us about the professional who’s made a difference for you, and invite them to join CHIP so we can tell the world how great they are, too.
1. Click the button
Your email app opens with a ready-to-send invitation to CHIP.
2. Add their email
Type in your pro’s email address and name. Personalize the message if you like.
3. Hit send
That’s it. Once they join, we’ll help more people discover how great they are.
Who you can invite*
- Financial Advisor
- Certified Financial Planner (CFP®)
- Insurance Pro
- CPA or Enrolled Agent (Licensed Tax Pro)
- Estate Planning Attorney
- Bookkeeper
- Financial Coach (must be accredited)
* Subject to internal approval and license and business verification checks.
Common Questions
Why does it matter to work with a financial advisor who shares my culture?
Shared background often means shared understanding: of family obligations, money beliefs and the barriers you may have faced. That understanding builds trust, and people who trust their advisor are more likely to follow through on their plan.
How do I find a Black financial advisor?
Black CFP® professionals make up about 2% of all CFP® professionals, so they can be hard to find through traditional searches. On CHIP, you can browse vetted professionals or take the free 3-minute quiz to get matched with advisors, CFPs, CPAs and estate attorneys who fit your goals.
How do I find a Hispanic or Latino financial advisor?
Hispanic and Latino professionals make up about 2.9% of CFP® professionals. CHIP’s network includes Hispanic and Latino advisors and other financial professionals. Browse professionals to see backgrounds and services, or take the quiz to get matched.
Is CHIP only for Black and Hispanic clients?
No. CHIP is for anyone who wants to find a trusted financial professional. Our network is intentionally diverse, with a focus on first-gen wealth builders, women and multicultural families.
What kinds of financial professionals are on CHIP?
CHIP’s network includes financial advisors, CERTIFIED FINANCIAL PLANNER™ professionals, CPAs and tax professionals, insurance agents and estate planning attorneys. Teamopedia explains what each one does.
Does it cost anything to get matched?
No. Taking the quiz and getting matched with professionals on CHIP is free, with no sales pitch and no pressure. See our FAQs for details.
CHIP exists to champion wealth in every community. History has proven that we’re stronger together, and closing the wealth gap will take all of us: families, professionals and partners, working side by side.
Sources
Wealth data: Federal Reserve, “Greater Wealth, Greater Uncertainty: Changes in Racial Inequality in the Survey of Consumer Finances” (2023), 2022 median family wealth. Professional data: CFP Board, CFP® Professional Demographics (as of November 2026). Population: U.S. Census Bureau QuickFacts, July 2025 estimates. Freedman’s Savings Bank: Office of the Comptroller of the Currency. Greenwood: Oklahoma Historical Society. Dawes Act: National Park Service.
Build wealth that stays in the family.
Start with a 3-minute quiz. End with a financial team that understands where you come from and where you’re going.