The New Relationship Reinforces Fidelity’s Long-Standing Commitment to Increase Access to Financial Education
BOSTON--(BUSINESS WIRE)-- Fidelity Investments today announced a year-long relationship with the Connecticut Sun aimed at providing financial education and access to the next generation of young women. Based in New England where Fidelity has deep roots, this collaboration with the WNBA team provides Fidelity with several opportunities to educate and engage young people when it comes to learning about money and basic financial concepts like spending, saving, and investing.
As part of the new relationship, Fidelity will host a learning session at one of the Connecticut Sun’s in-person, week-long summer basketball camps, distilling its financial expertise to girls grades three to twelve. Campers will delve into financial education that highlights how to save, spend, and invest while also exploring new and different ways of thinking about money. Campers and their parents/guardians will also be introduced to the Fidelity Youth Account, where they’ll receive a $50 depositi when they open a Youth Account for their teen, which will help teens leverage the skills they learn in the workshops. The Fidelity Youth Account is the industry’s first saving, spending, and investing account designed exclusively for 13- to 17-year-olds. The platform provides educational content and tools to engage young people and provides learning moments around investing.
In addition to providing financial education during the summer camp sessions, Fidelity will sponsor scholarships for girls who could not otherwise attend the camps. And throughout the year, Fidelity will collaborate with the team’s basketball players to provide ongoing virtual financial education to youth athletes through webinars and social media content.
“Working with the Connecticut Sun helps us continue to invest in the next generation of young women in New England—and of course it’s exciting to support a women-centered organization like the WNBA,” says Pamela Everhart, Head of Community Relations and Regional Public Affairs at Fidelity Investments. “Using sports as a way to break through, we are taking steps to help close the gender investing gap by engaging with young women early and often, providing financial education, and access to products to help them learn by doing so they can meet their financial goals.”
In fact, Fidelity researchii finds that teen girls are more likely than boys to say investing feels out of reach and they have no knowledge of researching investments. Teen girls are also less likely to say they’ve talked to their parents about investing, perpetuating the gender gap. In addition to early-on financial education, Fidelity aims to help close the gender investing gap by offering a suite of resources for women through its Women Talk Money community. Women Talk Money provides connection and clear steps to support the next generation of female investors with live discussions, checklists, and continuous support on topics from savings to debt to making money work harder.
The relationship is the latest in Fidelity’s long-standing efforts to increase access to financial education in historically underserved populations, including young women and diverse communities. Earlier this year, Fidelity announced a collaboration with The FIVE Network that provides thousands of diverse youth, ages 13-17 across 25+ states, with an online financial services curriculum, mentorship with members of Fidelity’s Affinity groups—which focus on engaging Black, Latinx, and young professionals—and an introduction to the Fidelity Youth Account to apply what they’ve learned.
Fidelity’s commitment to educating the next generation of investors includes a number of tools and resources for young people and parents:
- A new conversation guide to make money a positive part of daily family discussions.
- Webinars designed for teens and parents to join together, including the recent “Getting a head start: investing for teens and parents” session.
- A Teens and Money learning path with comprehensive content, including articles on saving, budgeting, and investing basics, plus the free online game Five Money Musts.
- Viewpoints articles including investing basics for teens (five tips to introduce your teens to investing) and be a great money role model (six tips to help parents avoid common money mistakes with kids and teens).
- A presence on Reddit, TikTok, and other social channels where teens can easily engage with Fidelity on financial topics.
- Available to anyone, the Fidelity Financial Forward℠ site provides free financial education resources for parents, teachers, K-12 students, and anyone who has a vested interest in the financial future of a child.
About Fidelity Investments
Fidelity’s mission is to inspire better futures and deliver better outcomes for the customers and businesses we serve. With assets under administration of $10.5 trillion, including discretionary assets of $4.0 trillion as of May 31, 2022, we focus on meeting the unique needs of a diverse set of customers. Privately held for over 75 years, Fidelity employs more than 58,000 associates who are focused on the long-term success of our customers. For more information about Fidelity Investments, visit https://www.fidelity.com/about-fidelity/our-company.
The third parties mentioned herein and Fidelity Investments are independent entities and are not legally affiliated.
Fidelity Investments and Fidelity are registered service marks of FMR LLC.
Keep in mind that investing involves risk. The value of your investment will fluctuate over time, and you may gain or lose money.
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i Starting on January 24, 2022, when you (parent or guardian) initiate the opening of a new Youth Account and your teen (aged 13–17) downloads the Fidelity Mobile® App and activates the new account, your teen will receive a $50 deposit as a reward. Fidelity reserves the right to modify the terms and conditions or terminate the offer at any time. Other terms and conditions, or eligibility criteria, apply. See fidelity.com/youth for official terms and conditions and for more information.
ii Fidelity 2022 Teens and Money Study
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Source: Fidelity Investments