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Hidden Gems: Meet Chloe Moore of Financial Staples

Today we’d like to introduce you to Chloe Moore.

Hi Chloe, can you start by introducing yourself? We’d love to learn more about how you got to where you are today?
I’ve been a financial planner my entire 18-year career. I spent the first 12 years working with multi-generational wealthy clients. Today, I have my own financial planning firm where I serve tech professionals.

For most of my career, I only worked with a few clients who were people of color. In addition, I was the only black female financial planner at my company. While my work was challenging and I learned many lessons about how to build and maintain wealth, I did not feel fulfilled. I saw firsthand how wealth can provide access, opportunities, and freedom, but I also saw the impact of the racial wealth gap and gender pay gap on communities that have been systemically excluded.

I started my financial planning firm, Financial Staples because I wanted to use the knowledge and experience I gained throughout my career to helping more women, people of color, and members of the LGBTQ+ community. I decided to focus on early to mid-career tech professionals with equity compensation because I believe they have a unique opportunity to build generational wealth. My clients receive generous salaries and equity in their companies. Learning how to use these tools to invest, manage debt, and reduce taxes are key components to achieving financial freedom.

We all face challenges, but looking back would you describe it as a relatively smooth road?
This journey of starting my own company has not been easy. First off, I never had a desire to be a business owner. I became one because I saw it as my only opportunity to create an environment where I was valued and could control my career path.

I started my company from scratch so there were plenty of struggles along the way. As a salaried employee, I never had to worry about marketing and sales. It took a while to identify my ideal client and how to consistently attract them. I also underestimated how long it would take to grow my business. The saying is true: Expect everything to take at least twice as long and cost twice as much as you planned. It took several years to gain momentum and I didn’t feel like I had a “real” business until year four. The journey continues, and there are new obstacles at each level.

As I continue to grow and learn, I hope to make the path easier for those who come behind me. I co-founded the BLatinX Internship Program (BLX) with three colleagues. The program provides paid internships and other career development opportunities to aspiring Black and Latinx financial planners. I also enjoy being a resource to other financial planners who want to start their own firms. The more we all grow our businesses, the greater impact we can have on helping minority communities build wealth.

Alright, so let’s switch gears a bit and talk business. What should we know?
At Financial Staples, I offer both comprehensive financial planning and investment management services. With financial planning, I review a client’s entire financial picture. This includes their budget, investments, employee benefits, insurance, taxes, estate plan, and more. From there, I make recommendations and help them make progress toward their goals. If needed, I introduce clients to other professionals like tax preparers, attorneys, and insurance agents and I coordinate with those professionals so we’re all working as a team. With investment management, I educate clients on different types of accounts and investments available to help them reach their financial goals. After we decide on the appropriate strategy, I manage their investment accounts. In my work, I act as a guide that helps clients close the gap between where they are and where they want to be.

My approach to financial planning is not traditional. I’ve built my firm to address my clients’ needs and give them the best possibility for success. At the beginning of each relationship, I take the time to understand a client’s background, personal story, and money history. I also explore their values and the “why” behind their goals. This approach helps me understand how I can best help clients reach their full potential. I also aim to teach financial concepts in an easy-to-understand format so clients can make informed decisions, and I serve as an accountability partner to keep them on track. I believe that my approach helps clients develop the mindset and habits that lead to long-term progress.

Do you have any advice for those just starting out?
If you’re just starting out in your career, my best advice is to learn as much as you can and strive to be the best. You never know where your career will take you so going beyond your job description and soaking up knowledge helps in the long run. I also believe in mastering your job, no matter how small it may seem. Sometimes, those starting out want to grow quickly. It’s important to focus on being the best you can be at each level. You’ll eventually grow, and when you do, you’ll have more of an appreciation for those who come behind you.

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