RBC Wealth Management – US has launched a digital storytelling series featuring employees reflecting on their backgrounds, journeys to and through RBC Wealth Management and key relationships and choices that made a difference to them along the way.

The videos, part of the company’s push to increase diversity in its corporate and financial advisor ranks, are designed to support and amplify initiatives put into place at the firm over the past few years to increase its pipeline of talent, RBC said.

The documentary-style videos feature executives, financial advisors and client associates. Their stories highlight the importance of finding a welcoming and supportive employer for long-term success, the firm said.

The videos build upon an earlier set launched in September 2017 that featured female advisors sharing personal stories about their journey to the wealth management industry and encouraging more women to follow suit, the firm said. As a result of the campaign, the firm received more than 1,000 inquiries from women and diverse candidates who wanted to learn more about financial services professions, the company said, adding that several of those candidates now work at RBC.

RBC said research continues to show that the financial services industry, including wealth management, falls short in cultivating a workforce that reflects the diversity of the U.S. A 2018 Securities Industry and Financial Markets (SIFMA) survey found that only 24% of financial services employees are minorities. And they represent only 12% in the wealth management industry.

African Americans and Hispanic Americans are particularly underrepresented, studies say. The Center for Financial Planning found that less than 3.5% of the 80,000 CFP professionals in the U.S. as of 2017 are black or Latino, while blacks and Latinos comprise 13.3% and 17.8% of the U.S. population, respectively.

Tom Sagissor, president of RBC Wealth Management – U.S., said the industry’s problem in part is people are drawn to careers and activities where they see themselves reflected. “The existing lack of diversity in the financial services industry serves as an impediment to attracting diverse talent,” he said.

Sagissor added that with an increasingly diverse clientele, wealth managers need to empower leaders with diverse and relatable life experiences. “Clients want to work with people who understand and identify with them. Ultimately, by recognizing the variety and achievement in our employees’ stories, we hope to inspire a new wave of talent from all walks of life to join us here at RBC,” he said.

In the U.S., RBC Wealth Management operates as a division of RBC Capital Markets, founded in 1909. RBC Wealth Management has $384 billion in total client assets under management, with more than 1,900 financial advisors operating in 170 locations in 42 states.