01.16.24

Black Investors Are the Biggest New Group of Stock Buyers

by: Oyin Adedoyin; Sanaa Rowser

Nearly 40% of Black Americans owned stocks in 2022, up from just under a third in 2016, according to the most recent Federal Reserve data. Though more young Black investors are putting money in stocks, the amounts are often still small, federal data suggest. Black financial advisors said they have noticed greater interest in stocks among their family and peers since the pandemic. “Within the African-American community, there’s a hunger for good investment advice,” said Dana Grigg, president of Camelotta Advisors, a wealth-management firm in San Francisco.

Read the full article on Wall Street Journal