Investing / Startups / Technology / Wealth

This Philly founder is making generational wealth building more accessible

WealthMore is a financial planning platform that removes barriers and helps young adults with investment advice.

Mical Jeanlys White, CEO, and Tanya Frias, head of wealth, WealthMore. (Courtesy WealthMore)
For Mical Jeanlys-White, technology presents an opportunity to empower people to build wealth.

The Philadelphia resident in 2022 founded WealthMore, a platform that provides young adults with access to wealth advisors and financial planning.

A first generation American, Jeanlys-White remembers her family saved a lot, but didn’t have access to information about investing.

“We didn’t live in a zip code where a banker was likely to call — despite having pretty good savings habits and money sitting in bank accounts,” Jeanlys-White said. “It was a big missed opportunity.”

Center City-based WealthMore, which at the end of 2023 raised over $1 million in a pre-seed round, provides access to certified financial planners that can give advice about investing, home buying, estate planning, tax optimization, retirement planning and college planning. The platform is currently in beta, with plans to fully launch this spring.

Jeanlys-White was previously a managing director at JP Morgan Chase. In that role, she noticed that if people had access to information about their financial situation, they were more likely to take action to improve it. She said there are tools out there to gain information about credit, but the wealth building space can be hard to access.

“The reality is those who have a wealth advisor grow two times more wealth,” Jeanlys-White said. A 2016 study out of Canada found that households using financial advisors for at least 15 years accumulated 290% more assets than those that didn’t.

A lot of people actually have negative net worth … so that prevents them from getting access to a wealth advisorMical Jeanlys-White

And most Americans don’t have access to a wealth advisor. Only 30% of consumers have a financial advisor, while 42% think only wealthy people can have financial advisors, according to a survey from Magnify Money.

Meanwhile, many wealth advisors are only looking for clients that bring portfolios of at least $250,000.

“If you’re a builder, just starting to build wealth, a lot of people actually have negative net worth,” Jeanlys-White said. “So that immediately sort of prevents them from getting access to a wealth advisor.”

WealthMore lets people slip past that barrier. After you create an account on the platform, you can invest in one of its advisor-led portfolios, and can message or meet individually with that advisor whenever you want.

Jeanlys-White also wanted to incorporate a community aspect to the platform, so users can also join virtual communities made up of people with similar identities or wealth goals. They’re inspired by money clubs or savings clubs, she said, where people are more likely to hit their financial goals if they’re around like-minded people. On WealthMore, the advisor-led community groups have access to webinars and optional challenges.

Eventually, Jenlys-White would like to see WealthMore partner with employers and become a subsidized benefit for employees. For now, her advice to young wealth builders is to just start.

“Just creating that habit and using certain tools … to just seamlessly move money from your paycheck, or that account where you receive your paycheck into an investing account,” Jeanlys-White said. “Just that discipline pays a huge difference.”

Sarah Huffman is a 2022-2024 corps member for Report for America, an initiative of The Groundtruth Project that pairs young journalists with local newsrooms. This position is supported by the Lenfest Institute for Journalism.
Companies: WealthMore

Before you go...

Please consider supporting to keep our independent journalism strong. Unlike most business-focused media outlets, we don’t have a paywall. Instead, we count on your personal and organizational support.

3 ways to support our work:
  • Contribute to the Journalism Fund. Charitable giving ensures our information remains free and accessible for residents to discover workforce programs and entrepreneurship pathways. This includes philanthropic grants and individual tax-deductible donations from readers like you.
  • Use our Preferred Partners. Our directory of vetted providers offers high-quality recommendations for services our readers need, and each referral supports our journalism.
  • Use our services. If you need entrepreneurs and tech leaders to buy your services, are seeking technologists to hire or want more professionals to know about your ecosystem, has the biggest and most engaged audience in the mid-Atlantic. We help companies tell their stories and answer big questions to meet and serve our community.
The journalism fund Preferred partners Our services

Join our growing Slack community

Join 5,000 tech professionals and entrepreneurs in our community Slack today!


Philly-area gold exchange startup reaches $1M in revenue just 10 months after launch

Calling all parents with too much toy clutter: This Philly startup can help

He started at Neya as an intern. 10 years later, he’s director of robotics — and loving life

What Philadelphians need to know about the city’s 7,000-camera surveillance system

Technically Media