Greenlight Financial Technology, Inc. (Greenlight), the fintech company on a mission to help parents raise financially-smart kids, today announced Greenlight Max, the first educational investing platform designed for kids.
In 2017, the company launched a parent-managed debit card and app for kids to teach money management skills. Today, Greenlight serves more than 2 million parents and kids, who have collectively saved $90 million. With the launch of Greenlight Max, the company is now shining a light on the world of investing for parents and kids alike.
Investing is key to building long-term wealth, but it is not inclusive or accessible to many. There continues to be a widening wealth gap and divide in stock market participation — the wealthiest 10% of Americans own 87% of stocks and mutual funds. Many adults don’t know how to get started, and kids are not learning these critical concepts in school, with only 16.4% of children required to take a personal finance class.
“At Greenlight, we know that financially-smart kids will have happier and healthier lives,” said Tim Sheehan, co-founder and CEO of Greenlight. “Investing is one of the most important pieces of the personal finance puzzle. That’s why we launched Greenlight Max — so parents can lay the foundation for building generational wealth.”
Greenlight Max is the result of four years of customer feedback and expertise in family financial technology and education. Kids can research stocks with analysis powered by Morningstar, learn from a library of in-app educational content, propose investments with parental approval and track portfolio performance. The new Greenlight Max plan also includes upgraded safety features like cell phone, purchase and identity theft protection for extra peace of mind and the Greenlight Black Card, along with Greenlight’s suite of core financial tools for earning, saving, spending and giving.