Los Angeles, Calif.
1. The industry needs to make a stronger effort to promote financial literacy, especially in minority communities. By exposing young girls to the most basic financial concepts, you empower them and chip away at existing barriers. Also, there needs to be more information within educational programs on the different types of companies and paths within the industry. There’s a misconception that as financial advisors you work only with wealthy people, and that’s not true.
2. While mentorship programs do exist in the industry, these platforms may not go far enough. These programs should make a targeted effort to recruit mentors from different backgrounds.
3. Existing firms should prioritize diversity within their hiring practices. We are creatures of habit and tend to stick with familiarity, which will only lead to the same groupthink.
Chloé A. Moore
Founder and financial planner, Financial Staples
Atlanta, Ga.
1. Awareness of the profession needs to happen. Get out in the community and make women aware of how beneficial this profession can be for their future. Visit your college and talk to alumni about how to enter the profession and create a career path. Visit high schools and discuss the advantages of a financial career.
2. Visibility in the media could be better. Women advisors don’t see themselves in the media, such as advertising campaigns. Advertisers need to showcase more diversity so women can visualize the potential for them in the career.
3. Work with other women’s groups sharing the profession’s possibilities. Network with women business owners to build relationships and a diverse range of clients.