In 2021, Invest in Others awarded $1 million to charities, the most ever, she said, adding that the response to the Covid-19 pandemic meant many advisory firms did more for their communities than they had in the past.
“It’s a money-making industry, but at the same time it’s a very generous industry,” she said of financial services. “The advisors we work with are so kind and engaged. They’re uniquely able to give back in time, connections and resources. They can provide financial expertise, and bring in other donors and volunteers.”
Making It Count In A Community
Invest in Others recognizes firms that give back with its Charitable Champions list. On the list this year was Carson Group, which boasts involvement from its highest executives in philanthropic activities, something Dunham said is one of the most meaningful things to potential recruits. “When the CEOs are really involved,” she said, “it can be part of the employee onboarding process.”
According to Ruwe, Carson Group’s 135 partners submit proposals for the deployment of the generosity fund the firm has created. Carson employees also get time off for their own volunteer work, and the company instituted “Carson Day” to put employees onto a single issue like work for Habitat for Humanity, the Siena Francis House (an Omaha-based organization that serves the homeless), or the local food bank. Carson also provides a $500 matching commitment for each employee for their own donations.
In 2021, Carson Group's philanthropic efforts included more than $300,000 raised and more than 1,000 volunteer hours donated, Ruwe said. The firm hosted 16 charitable events and held 15 charitable programs. “We have monthly gatherings where we highlight nonprofits. Nonprofits can come in, tell us what they’re about and gather volunteers for that.”
Some of the endeavors Carson Group has supported include financial literacy for K-12 students, veteran’s assistance, career days, the area pride parade, Appalachia Service Project (which serves those with substandard housing), the DE9 Initiative (which provides distance learning to high-population countries such as Bangladesh and Indonesia), and Rock The Street, Wall Street (a financial literacy program).
“We try to work locally here in Omaha, nationally with partners, and we try to give globally, whether it’s children, clean water, education or the global coral reef,” Ruwe said. “Every year our budget increases. We’ve been doing this for 15 years, but how it’s perceived has really changed. We had programs, but I don’t think we did a good job of promoting them.”
Now every employee has an opportunity to make a difference through their role at Carson Group by submitting requests on behalf of the charities they’re involved in. The request form asks why that charity is important, and why it matters to that employee.
“We want to make sure it’s personal,” she said. “We want to know what boards our employees sit on, and where they volunteer.”
According to Louis Diamond, the recruiter, this is what people want to see when they consider a firm they are going to work for—active engagement in community and support of social justice issues.
“I put it in the culture bucket,” he said. “Advisors want to partner with organizations they can believe in, especially the younger advisors. This is becoming a much more important attribute, and not just in our industry. It’s across the employer spectrum.
“So many firms are gunning for the same people, seemingly little things [the firms do to stand out can] make a big difference, and this is definitely one of those things. If a firm is intentional about sharing their culture in the community, that can click with an advisor.”