I can attest to the veracity of that. Call us: Many of them have career fairs. A good financial advisor can add tons of value to your financial well-being and can enhance your quality of life. They can make just as many cold calls and knock on as many doors as a white guy or white woman can. Should race should be a consideration in selecting a financial advisor? That’s not where my clients are to be found. N’Jie-Konte identifies as Afro-Latin. You’ve got to enjoy numbers, investing, and interacting with people on a regular basis. They want to go to the country club to find clients or to a chamber of commerce business event. There’s a focus on recruiting advisors that have big, established books of business. Because I was working on a team, I didn’t want to leave on a bad note by taking a bunch of clients with me. While an important part of a well-rounded financial plan, it is not everything. I was certainly the only black in our whole office in downtown D.C., on Pennsylvania Avenue, right across the street from The White House. What’s needed? I knew that as long as I was there, I was on someone else’s time [table] and that I had to be OK with the ride. The CFP Board says that black and Latinos are only 4% of total CFP [certificants]. Some advisors will hold virtual meetings to practice social distancing and will contact you with more details about that process. Kevin L. Mathews II. 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Before joining RBC in 2014, where she stayed for five years, she was with Chevy Chase Trust. You want Time Freedom. Your Raymond James advisor will help you prepare for life’s major financial milestones and every moment in between. The Russell study also identified this as the single largest benefit of working with a financial advisor. I can think of only one, a Latino guy. But this is a nonnegotiable issue for these clients. Many people wonder whether financial advisors are worth it -- what their average cost is, if the fee is reasonable, whether they should hire investment advisors or financial planners, and so on. What began as informal meetings and conversations then flourished, and in January 2015 the Black Financial Advisors Network (BFAN) had its inaugural meeting with the full support of Raymond James leadership, including CEO Paul Reilly, the start of a bright and promising future. Dave Ramsey calls this having the “heart of a teacher”, and it’s pretty darn important. Guided by a spirit of excellence and a client-first approach, the network is committed to contributing to the long-term success of black advisors and Raymond James. People typically think of racism as calling somebody a racist epithet. She is a black advisor who worked at three wealth management firms before breaking away in frustration last year to open her own RIA, Dare to Dream Financial Planning, in Silver Spring, Maryland, close to Washington. There has to be a substantive shift, a concerted effort, in the way the industry is approaching this because the way it is just isn’t working. Fluent in three languages, N’Jie-Konte grew up in New York City, the daughter of accountants employed by the New York State Department of Labor. Thoughtful, timely investing and planning insights from the leading professionals at Raymond James. It frustrated me that managers recruited so heavily, but when I looked around there were very few seasoned advisors. You’ll work, yes, but you can also enjoy more time with your families. Get the latest best practices, relevant stats and industry trends - quickly and easily. I didn’t want to wait to earn more. That lends itself to hiring older white men who have been in the industry for 30 or so years. ALSO READ: Pros and Cons of Being a Financial Advisor. Most financial advisors fail. There is a big difference between the types of financial advisors. When they recruit junior people to do cold calling and grunt work, there’s absolutely no reason they can’t hire a black or Latino person to do it. If you are an advisor who seeks a firm where you are welcomed, valued and supported, call BFAN co-founder and Advisory Council member Tony Barrett at 888.792.9163 or have a confidential conversation with our recruiters about what your business would look like as an advisor at Raymond James. It was a very rare occurrence to be in a room and not be the only black woman or the only person of color, period. Most clients are upper-middle-class individuals with six-figure incomes. Some even have financial planning programs. The best financial advisors are able to keep their clients’ fears and emotions in check by providing steady, fact-based advice and reassurance when the markets get wobbly or crazy. 1: Being inflexible. | Learn more about our current Black Financial Advisors Network Council members and their responsibilities. The best way to retain talented advisors is to help ensure their success, so BFAN is working with the Raymond James Private Client Group Education & Practice Management team and other professional resources throughout the firm to provide customized educational programs, development opportunities, partnership opportunities and mentorships. When I was at Alliance Bernstein, my first break. How modern organizations are growing brand value, operational efficiency, and business impact with social media. “In the African-American community, the financial literacy level is low. Raymond James & Associates, Inc., member New York Stock Exchange / SIPC, and Raymond James Financial Services, Inc., member FINRA / SIPC, are subsidiaries of Raymond James Financial, Inc. Raymond James® and Raymond James Financial® are registered trademarks of Raymond James Financial, Inc. Raymond James & Associates, Inc. I think so. Why did you leave RBC to start your own RIA? Your financial well-being remains our top priority, and we will continue to serve you at the highest level. No. So they don’t necessarily see lack of diversity as a gaping hole. “Insidious racism” and the apathy of financial services leadership are responsible for the industry’s “gaping hole” in financial advisor diversity, argues RIA Anna N’Jie-Konte, 32, in an interview with ThinkAdvisor. Here are just 6 of them. 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