The Washington Wizards and Washington Mystics, with their ownership group Monumental Sports & Entertainment, are partnering with Stackwell, the digital investment platform created to eliminate the racial wealth gap, to bring financial wellness and investment education programming and other economic support to the Black community throughout the D.C., Maryland and Virginia (DMV) area. Stackwell, the Wizards and Mystics, will co-host events to engage members of the community and help support their access to financial investment, in addition to other collaborations with both teams to support Black students in the District of Columbia.
The new partners will host financial wellness and investment education programs at the MedStar Health Performance Center in DC’s Ward 8, where both teams practice. Partnership events to benefit the local community will also be hosted at District E, the new esports and entertainment facility adjacent to Capital One Arena – Monumental Sports & Entertainment’s flagship venue. Stackwell will serve as the presenting partner of the Wizards’ celebration of Black History Month in February 2023, emphasizing engagement with Historically Black College and University students, faculty and staff, as well as highlighting the influence and accomplishment of Black Americans and organizations from the DMV, including the Wizards All-Access Player video content series, which covers topics ranging from the team, current events, pop culture, financial wellness and wealth, among other activations. For the 2023 season, Stackwell will also be the presenting sponsor of the Mystics’ “Assist DC” campaign, which serves students from low-income communities who will become the first in their families to graduate from college.
“The Wizards and Mystics brands and athletes have long championed issues of social justice and change and this collaborative initiative is a perfect extension of that work,” said Jim Van Stone, President of Business Operations & Chief Commercial Officer at Monumental Sports & Entertainment. “Partnering with Stackwell to help address the racial wealth gap which disproportionately effects Black people is another example of how our teams support our fans across the DMV while addressing a major social issue of our time.”
Stackwell, which just released its robo-investing app built to support wealth building within the Black community, serves a core mission to eliminate the racial wealth gap by increasing Black ownership of financial assets. Taking fear and mistrust out of the process and increasing accessibility, regardless of income or familiarity with the investment process, Stackwell empowers more individuals to enter the financial markets and grow their wealth over the long term.
“Our partnership with the Wizards and Mystics presents an incredible opportunity to empower members of the Black community across the DMV by promoting investment education and participation in the financial markets as a pathway to building sustainable, generational wealth,” Trevor Rozier-Byrd, Founder and CEO of Stackwell, said. “Washington D.C.’s history is rich with stories of triumph and success of the Black community, and we look forward to celebrating that legacy, while also recognizing the racial wealth gap in this region remains stark. Together, through this partnership we will help break down barriers to financial access and inclusion and enable more members of the Black community in the DMV to access the markets and stack more wealth.”
With the 6th largest Black consumer market in the country, the Washington D.C. region including the District, Maryland and Virginia, is a powerful Black consumer market in the United States. Stackwell is proud to partner with the Wizards and Mystics and engage with the diverse fan base across the DMV.