Tiffany Marr is a woman on a mission. She’s a wife, mother, and a self-described “entrepreneur with a day job”. She is currently developing a new technology platform that encourages peer-to-peer interaction around money. The platform will allow users to ask financial questions and receive financial tips and strategies in real time – aiming to inspire not only self-worth, but net worth.
AFCPE: You are in the development and funding stage of an innovative FinTech platform called Wemblr. Tell us more!
Tiffany: Wemblr is a financial technology platform where users ask financial questions and receive financial techniques and strategies in real time from the user community. Users are not financial advisors, but rather hardworking individuals offering their perspectives on “what worked” and “what didn’t work” for them. Artificial intelligence filters responses according to relevance, connection and accuracy. We are very intentional about using coding language that is sensitive across gender, race, age and class. In addition to the social aspect of the platform, we will provide DIY financial tools and connect users to field experts when they are ready.
AFCPE: We love the focus on sensitivity across gender, race, age and class and, of course, the ability to connect users to trusted professionals. What inspired you to pursue this passion?
Tiffany: In 2006, I was in the last year of my MBA program at the University of Tennessee and was part of an Investment Team on campus. Investing was brand new to me and I was the least experienced on the team, but discovered how meaningful it was to discuss our stock picks and the reason behind them as a group. I often came to the table with retail stocks because of my personal interests at the time and I learned to have an independent compelling reason behind the pick in order to have it voted into our short-term portfolio.
Others had much more intelligent strategies around their stock recommendations like emerging markets, climate change or even politics. I felt like a fish out of water in the majority of those conversations, but realized the value in peer-to-peer interaction when discussing real money. It dawned on me that there had to be others like me who needed a social model that enabled them to ask questions, get answers, and then choose the best path for themselves, thus, the concept was conceived and after several pivots, Wemblr was born a decade later.
AFCPE: What makes Wemblr stand apart from other FinTech platforms?
Tiffany: Wemblr’s competition comes in a variety of forms. However, based on our research, Wemblr would be first in the marketplace to offer a financial platform which enables users to share financial guidance and techniques while incorporating artificial intelligence which transmits responses that are relevant and credible to the inquiries.
AFCPE: How can others support your vision?
Tiffany: We launched an Indiegogo Campaign to raise a seed round of funding to rebuild our platform with the inclusion of Artificial Intelligence. Market research findings challenged us to find a way to ensure user responses were credible and AI was our answer. We would love to have the support of this amazing community. A link to our campaign is below and you are more than welcome to share across your social channels, including social media. Community is everything to us!
Tiffany Answers the Friday 5:
My Why: 70% of individuals earn less than $50K per year while 50% of households earn less than $50K per year. These statistics prove that most people can’t afford institutional financial advice, but need a resource where they can receive guidance throughout their financial journey. Cash is king (or queen) and money talks. Being financially secure means that people live better, give better, and take a stand on societal issues better.
My Favorite Quote: “The truth will set you free, but first it will piss you off” – Gloria Steinem
My Hero: Robbie Clara Young (My Late Grandmother)
My Favorite Personal Finance Resource: I have used Yahoo Finance to research stocks for years and find it easy to digest. I read a lot of business-related articles also, but love Cosmo, Essence, and Vogue. We should all know about the industries where you like to spend your money. Articles offering product comparisons or even beauty/grooming tips can often save you money.
My best advice for someone starting the journey to financial wellness: Unless you’re an “aire” (as in, Million or Billion), financial satisfaction takes time. Be very patient. Learn from your mistakes and try your best not to repeat them. Be aware of your financial weaknesses and hold yourself accountable. Make small strides every day because they add up to huge gains. Unforeseen life moments may cause a financial setback, but inside all of us is the ability to make a comeback.