Just days before the kickoff of National Black Business Month, Washingtonians flocked to Town Hall Education Arts Recreation Campus (THEARC) for the second annual Building Generational Wealth Expo, an event aimed to provide equitable education on financial literacy, entrepreneurship, health, brand building, and homeownership, on July 27.
“Our mission is to bridge the wealth gap among minorities by offering education and resources that can foster financial independence and homeownership,” said Randy Louis, CEO of Block Shoppers and founder of Community Elevation Alliance. “Lack of financial literacy and awareness of resources contribute to economic disparities and related societal issues.”
The event included discussions on real estate, life insurance, estate planning, and health and wellness, and even engaged young people, offering 150 free tickets to high school and college students to introduce them to crucial financial conversations and resources early on. Attendees also enjoyed complimentary food and beverages throughout the day, creating a welcoming environment for learning, networking and growing.
“We had 175 attendees last year, and this year we aimed for 300 participants,” Louis said. “Our goal was to empower individuals with the knowledge and tools to build generational wealth, fostering stronger, more resilient communities.”
Louis, a top-producing real estate agent, former Division 1 football player, and SHRM 30 Under 30 honoree in 2016, brought his extensive experience in workforce development, HR, and real estate to this event. His passion for economic development and community growth drove the expo.
Block Shoppers, an organization that helps individuals build generational wealth through real estate acquisitions, was at the forefront of this initiative. They provide educational resources, host events, and offer personalized guidance.
Community Elevation Alliance, a 501(c)(3) nonprofit, played a pivotal role by providing educational resources on housing, real estate, and financial literacy to lower economic groups. Their mission is to foster financial independence and homeownership among these communities.
While he’s now successful, the CEO and founder was not always so sure about his career path and future. He now utilizes his resources and network to inspire others.
“It was just from my personal experience. Having played college football, I came home and didn’t know what I was going to do. I started working and became a realtor, helping people purchase homes. I quickly realized that a lot of people don’t have their finances in place, especially in Black and brown communities,” he told The Informer. “It dawned on me that we don’t have these conversations early on. This event is about impacting people not just from a real estate standpoint, but in all aspects of wealth building.”
The response to last year’s expo influenced this year’s planning and goals.
“From that expo, we had 20 people become homeowners, and 10 people started their businesses. We realized we had some influence, so this time we added different topics to ensure we covered the entire spectrum,” he explained.
This year’s expo was no different, partnering with NACA, TD Bank, and JPMorgan Chase, to facilitate real one-on-one conversations after the expo, allowing attendees to delve deeper into personal finances, business funding, student loans, health and wellness, and estate planning.
Participants like Ola Fakinlede, representing Risk Exchange Agency, a minority-owned insurance brokerage company, said the expo was “a great concept,” to help educate on important ideals, foster connections, and build wealth.
“Insurance is necessary,” Fakinlede said. “We don’t want to lose the little things we do have and want to build upon that in our investment journey and wealth-building journey.”
Attendee Nehemiah Monske emphasized the value of networking and learning from others.
“Your network is your net worth. The different opportunities that come from networking will be beneficial. I’m looking to find things I wouldn’t find elsewhere,” he said.
The Building Generational Wealth Expo is more than just an annual event. It’s a movement towards continuous learning and community empowerment.
Even post the expo, Louis will be offering financial literacy classes and providing valuable opportunities to support the community.
“Surround yourself with like-minded people to grow together.”
