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How do you get high-risk adolescents to aspire to careers in finance, sales or marketing? This may sound like a dream but El Nido Family Centers is helping turn such dreams into realities through Access Wall Street.
Groups of 12 to 20 teens-mostly Latino- and African-Americans living in poverty or in low-income households-meet weekly at each of El Nido's five centers in Los Angeles. Working with financial services professionals, the young people take part in 10 weeks of lectures, discussions and team projects to accomplish the following:
- Gain knowledge of financial markets and how they work
- Improve research, organization and presentation skills
- Become a productive team member
- Learn why math, reading, writing and computer skills are valued in the workplace
One component of the program has each team select a publicly traded stock for an imaginary portfolio. Using the Internet and local and national publications, the teams conduct research on each stock and explain their picks in writing. Then they track and manage this portfolio. After completing Access Wall Street (AWS), each participant gets a personal savings account with an opening balance of $50.
Merrill Lynch supports AWS workshops, designed to introduce youth ages 13-20 to finance, investing and business development, teaching them concrete skills for long-term financial planning. In 2003, 41 youth completed the program, and pre/post tests indicate an 80% increase in knowledge of financial markets, business development, and workforce skills. Merrill Lynch volunteers are a critical part of the program. Sharing their knowledge, skills, and inspiration, youth participants can envision career options outside their inner-city neighborhood.
Merrill Lynch supports Access Wall Street workshops as a part of El Nido Family Centers' programming. The sessions are designed to introduce teenagers to finance, investing and business development, teaching them concrete skills for long-term financial planning.
"Access Wall Street was founded by finance professionals dedicated to improving the lives of young people by introducing them to the world of finance.
- Canard Barnes, Access Wall Street volunteer
and Merrill Lynch Financial Advisor
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