A Wall Street investment group, organ-ized by one of Southeast Queens’ largest churches, recently opened its new office at 114-16A Merrick Boulevard in South Jamaica to provide ongoing services to the community.
The Allen Investment Ministry held a ribbon-cutting ceremony last Saturday for its new office to ensure more economic programs for the community.
Because of the additional space, the investment ministry will sponsor workshops, invite financial experts to speak, train youngsters as well as adults to study the stock market and develop computer and Internet skills.
The Allen Investment Ministry, founded three years ago, was based on an idea from Reverend Floyd Flake, senior pastor of the Cathedral of Allen AME Church in Jamaica.
Today, the investment ministry aims to educate people, who don’t understand general business finances, on how to utilize their resources.
Audrey Taylor, vice president of the Allen Investment Ministry, said that once people realize their financial options, they could build their money in the bank into a stock portfolio or other long-term interests.
“We want to get more people knowledgeable of Wall Street and educate consumers in the area of finance,” Taylor said. “We want them to read the stock selections and gain knowledge on how to buy stock.”
Taylor noted that the investment ministry, which has 472 members, encourages everyone to participate.
Rev. Flake’s vision was to offer not only the church’s congregation an opportunity to accumulate knowledge of Wall Street, but the entire community as well.
Previous investment seminars and workshops have been held at the church and the ministry later decided that it wanted to teach residents hands-on computer skills and needed more space to set up the equipment.
The ministry was inspired by the story of a seven-year-old boy named Richard Anderson Jr., who has become a Wall Street prodigy.
After Anderson’s father made him watch the stock market earnings on CNN as punishment at age three, he became the youngest person to ring the bell at the New York Stock Exchange and teach others about trading, Taylor said.
“We want to encourage youngsters to learn how to utilize their money,” she said. “Youngsters, today, represent the largest portion of consumers and we want them to utilize their spending power.”
The investment ministry will release a fall schedule of workshops and seminars in September.
The group previously had workshops twice a month and seminars with guest speakers once a month at the cathedral.
For additional information, call the Cathedral of Allen AME Church at 206-4600.