Midas in Action: Partnering with Dragonfly Financial Solutions

This is the fourth in a series, Midas in Action, of several blog posts detailing wealth inequality in Massachusetts and how the MIDAS Collaborative partners with several different nonprofit organizations to combat the myriad obstacles individuals of low- and moderate-income face in the pursuit of financial security.

Financial insecurity, particularly when caused by systematic discrimination against marginalized groups, is not an easy problem to solve. As the old adage goes, provision of necessary goods will never be enough; one must learn to fish for himself. Dragonfly Financial Solutions, founded by visionary Kimberly Zimmerman Rand, understands intimately this reality. The organization seeks to increase accessibility to financial success through education. Its technique is unique in that it centers on financial “coaching,” a human, flexible, and empowering relationship rather than a black-and-white how-to guide. The coaches do not serve as know-it-all ‘experts’;’ rather, they have a clearly defined role in providing support for the client. The coach creates a trusting and positive relationship with the client, and from there, the two work together to design a personal path to financial stability. This process includes creating an action plan, setting achievable goals, and discerning useful resources. Throughout each coaching process, coaches account for clients’ unique’ concerns and situations, all the while providing reliable support backed by the organization and its nuanced understanding of the tools needed to uplift oneself, for the long term, out of a difficult situation.