Building wealth with nourishing advice

Chloé Moore, the founder of Financial Staples, had never heard of financial planning when she was growing up. In fact, in her college years, she was set on a career in sports medicine. However, it just wasn’t meant to be.

“After taking a few classes, I realized I no longer wanted to be an athletic trainer,” Moore says. “So I talked to my counselor, who was the head of the financial planning program at the University of Alabama, switched my major, and never looked back.”

Her professional journey began at two small firms, followed by a stint at an independent trust company, before she embarked on her entrepreneurial venture. Financial Staples, a virtual fee-only financial planning firm based in Atlanta, was born out of Moore’s desire to serve a broader clientele. Moore specializes in tech employees with equity compensation, and she has focused on helping first-generation individuals build wealth and learn financial basics.

“I spent the first half of my career working with high-net-worth and ultra-high-net-worth clients,” she says. “I wasn’t really fulfilled in the work that I was doing. I just felt like I was helping rich people get richer, and I wanted the opportunity to really help people who had the potential to build wealth – helping them from the ground up.”

Initially, Moore aimed to work exclusively with young professionals. Her first few clients were all tech employees, and she saw she could draw from her past experiences with high-net-worth individuals and corporate executives. This prompted a shift in her focus toward those with equity compensation who were beginning their wealth-building journey.

Moore emphasizes the emotional aspect of money management, recognizing its profound effect on our everyday decisions. Many of her clients are trailblazers in their families, often the first to attend college or earn a significant income. Moore plays a crucial role in helping her clients link their current financial habits to their past experiences.

“One thing I noticed with a lot of my clients when we started working together was that they didn’t really have a lot of resources or people growing up who taught them the basics of money,” she says. “Some of them have financial trauma or negative experiences around money from their childhood. Helping them connect the dots between past experiences and the way they’re managing their money today can help them to break through and make progress in their financial situations.”

But Moore’s not all about the money – in fact, one of her biggest passions outside of finance is her penchant for cooking – something she equates to her firm’s strategy and core values.

“When I was trying to think of what to name my firm, I thought about the fact that I always have staples in my kitchen. That allows me throw together a meal at a moment’s notice – and always be prepared. This concept can translate to a person’s financial world. There are certain staples or good financial habits that everyone should have,” she said. “And if you pair those habits with a good recipe, or financial plan, the possibilities are endless.”

Looking toward the future, Moore is excited about a non-profit venture she co-founded – the BLX Internship Program. BLX aims to bring more diversity into the financial planning profession by providing paid internship opportunities to Black and Latinx aspiring financial planners.

“There has been a large focus on diversity, equity, and inclusion over the last few years,” she says. “I hope that that trend continues as we try to increase the representation of women, people of color, and LGBTQ+ professionals in financial services. As a woman of color, I’m very passionate about creating opportunities for others and look forward to continuing this work.”