Moneyminding, a new company that has created a multi-media educational system that aims to teach people how to gain financial acumen without having to go back to school.
The current system, said MoneyMinding CEO Tracy Piercy, doesn’t work. People have been told to save a nest egg for retirement but only bring home $3,000 a month, so there’s a disconnect between what people are told they should do and what’s actually possible. Additionally, financial professionals are recognizing the need to branch out into a values-based approach and are hungry for a way to stand out from the crowd, Piercy said.
Moneyminding changes the paradigm by automating the delivery of financial education to the consumer.The company’s core product is the MoneyMinding Makeover, which puts consumers through a 30 hour training course that can be attended live or by webinar for $2,000. The course can also be licensed to industry professionals, who can then train consumers. This creates a monthly-annuity like income with high profit margins and low turnover, Piercy said.