Diversity, equity and inclusion have been prominent in advisor speak over the past half-decade as the industry accelerated its attempts to diversify beyond its largely aging-white-male legacy.

Today, a new advisor network and entrepreneurial support platform is launching to put action to some of the spoken claims and promises around those efforts.

Advisors of all kinds can subscribe to the Onyx Advisor Network for discounted access to custodial services, investment tools and a bundled technology stack to help them grow and evolve their practices.

Onyx Advisor network is the brainchild of two previous Financial Advisor Young Advisors to Watch: Emlen Miles-Mattingly  and Dasarte Yarnway.

The pair launched Onyx to try to help historically underrepresented demographics start, scale and sustain their practices and engage with a community of like-minded advisors.

"In developing Onyx, Emlen and I are driven to empower underrepresented advisors with the tools, technology and resources needed to build sustainable careers in our profession," said Yarnway in a prepared statement. "By breaking down the barriers to entry and providing Onyx advisors with access to some of the best resources our industry has to offer—at an affordable cost—we are addressing the diversity challenge in our industry and forcing systemic change in underserved communities."

Both founders run their own RIAs: Yarnway runs Berknell Financial Group, while Miles-Mattingly runs Gen Next Wealth

According to a press release from Onyx, the average advisor stands to save around $10,000 annually by accessing the discounts, community and resources on its platform.

"According to the CFP Board's most recent study, as of the end of last year only 4.5% of CFP professionals in the U.S. are Black and/or Hispanic," said Miles-Mattingly isaid in the release. "When Dasarte and I hear these numbers, we feel it is the responsibility of all of us to take meaningful action to welcome minority professionals into this space. Creating Onyx is the tangible manifestation of how Dasarte, our partners and I will lead our industry by making financial services a viable career for people of every skin color, gender, sexual orientation, and background."

An Onyx subscription gives advisors access to a bundled technology stack, including RIghtCapitazl, Synergy RIA Compliance Solutions, Wealthbox, Altrusit, MessageWatcher and Envestnet | Moneyguide.

First « 1 2 » Next