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In an effort to help close the wealth gap for communities of color, UBS announced today that it is supporting Drafted, Goalsetter Foundation’s movement to put every child in America on the path to financial freedom. The movement commenced at the start of Black History Month in partnership with the National Basketball Players Association ("NBA"), with the goal of "drafting" one million Black and Latinx kids to be the next generation of savers and investors.
UBS will sponsor 2,000 students, selected by the Goalsetter Foundation. These students will receive access to savings and financial literacy content for five years. The foundation was founded by Tanya Van Court, a Black female entrepreneur, and engages children from all backgrounds by teaching them how to build their wealth and understand their finances.
"UBS is thrilled to be a part of the Goalsetter Foundation’s movement to get one million Black and Latinx kids saving," said Jamie Sears, Head of Community Affairs & Corporate Responsibility, Americas at UBS. "The Drafted campaign is about creating a generation of asset builders with the potential to reduce the racial wealth gap. It’s not just about providing access to financial literacy tools. It will ultimately provide young people in communities of color with a meaningful opportunity to build generational wealth."
"Developed with key gaming principles in mind, Goalsetter is a ground-breaking platform that pairs engaging, pop-culture content with financial education. In so doing, it brings communities of color a long-awaited solution to the dearth of engaging financial tools," said Tanya Van Court, Founder and CEO of Goalsetter. "We are so grateful to UBS for being a catalyst in this movement, and creating a pathway for Black and Latinx youth to emerge as the next generation of savers and investors."
Drafted was created based on research from leading educators, which showed that children with savings accounts— regardless of the amount invested—are six-times more likely to go to college and four-times more likely to own stocks as young adults1. The movement kicked off on February 1, 2021 with NBA players, including Chris Paul, Point Guard for the Phoenix Suns, who "drafted" children into the movement, challenging others to join.
"The Goalsetter Foundation provides incredible resources for today’s youth to take advantage of and I’m proud to be involved with this initiative," said Adewale Ogunleye, Head of the Athletes and Entertainers Segment at UBS Wealth Management USA. "Growing up I knew very little, if anything, about financial literacy. This is the kind of program I wish I had access to when I was younger, as it may have changed how I handled my money later on in life. I can’t wait to see how this effort will change the lives of many children over the next five years."
Set in motion a movement aimed at reaching every child in America. Challenge family, friends and associates with the ask, "Who’s Got Next?," and follow along via social media: @goalsetterco and @UBS.
Notes to Editors
About UBS Community Affairs
UBS is committed to drive social and business impact through signature programs focused on entrepreneurship, education and employee engagement. The firm’s philanthropic initiatives in the Americas has had a long-time focus on investing in programs and partners that unlock economic opportunity for underrepresented communities. Since 2012, through UBS Elevating Entrepreneurs, the firm has invested in programs and partners that aim to level the playing field for underrepresented founders to build their companies, drive economic growth, and contribute to the community. In 2014, the firm committed USD 10 million to establish UBS NextGen Leaders, an initiative focused on increasing college and career success for student who are first-generation college goers and from under-resourced communities.
UBS provides financial advice and solutions to wealthy, institutional and corporate clients worldwide, as well as private clients in Switzerland. UBS's strategy is centered on our leading global wealth management business and our premier universal bank in Switzerland, enhanced by Asset Management and the Investment Bank. The bank focuses on businesses that have a strong competitive position in their targeted markets, are capital efficient, and have an attractive long-term structural growth or profitability outlook.
UBS is present in all major financial centers worldwide. It has offices in more than 50 regions and locations, with about 30% of its employees working in the Americas, 31% in Switzerland, 19% in the rest of Europe, the Middle East and Africa and 20% in Asia Pacific. UBS Group AG employs over 68,000 people around the world. Its shares are listed on the SIX Swiss Exchange and the New York Stock Exchange (NYSE).
View source version on businesswire.com: https://www.businesswire.com/news/home/20210217005680/en/
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