Expanding pathways for people to invest and strengthen their financial futures.
Why this matters
The wealth gap will not close without equitable access to investing.
54%
Over 54% of people earning low and moderate incomes are now retail investors—yet most investment products are still not designed for them.
15%
The typical Black family holds about 15% of the wealth of the typical white family—$44,900 compared to $285,000.
Wealth Inequity
For every dollar of median wealth held by single white men, single Black women hold 8 cents and single Latin women hold 14 cents.
Our framework
How We Drive Change
We work across the investing ecosystem to expand access to inclusive investing opportunities for people living on low and moderate incomes.
While capital markets have long been a pathway to building wealth, equitable access remains limited. People earning low and moderate incomes face systemic barriers to getting started—from product design that assumes higher balances to distribution channels that do not reach them.
Through the 1MM New Investors initiative, Commonwealth partners with financial institutions, fintechs, and industry leaders to research, design, and advance investing experiences that support new investors through thoughtful products, messaging, and distribution strategies.
Signature Initiative
The Investor Diaries
Millions of new investors have entered capital markets since 2020—many of them earning low and moderate incomes. The Investor Diaries is a national research initiative designed to understand who these investors are, how they invest, and what they need to sustain participation.
The initiative draws on voice diary entries from more than 50 individual investors, a national survey of more than 2,750 respondents, and analysis of a large transaction dataset representing millions of investment decisions. These findings equip financial service providers, fintechs, and policymakers with the insights needed to support and sustain investors today and in future generations.
Impact Stories & Case Studies
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Understanding Today’s Retail Investor
Examining the Behaviors, Motivations, and Challenges of New Investors Living on Low and Moderate Incomes
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Retail Investors on the Rise
What Billions of Transactions Reveal About Today’s Retail Investors Living on Low and Moderate Incomes
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