24 x 7 global phone support. They Want Someone Who Will Educate Them. If this continues, the industry won’t advance to embrace advisors of color alongside its overwhelming white male FA majority. While an important part of a well-rounded financial plan, it is not everything. The results speak for themselves. The lack of diversity in both the staff and client base is abysmal. Thoughtful, timely investing and planning insights from the leading professionals at Raymond James. Some even have financial planning programs. Oftentimes it’s their son or daughter that inherits the practice. They want to go to the country club to find clients or to a chamber of commerce business event. Discover the ease and convenience of having online access to your Raymond James accounts. 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The ASSOCIATION OF AFRICAN AMERICAN FINANCIAL ADVISORS (AAAA) was created to address the needs and concerns of African American Financial Professionals. She calls it “a pretty plentiful cohort” and one that is underserved. A lot of firms have associate financial advisor training programs. What was your experience as a black advisor at RBC? Leadership needs to be involved pushing people in the field to do this work. Together we take a strategic approach to capital markets, backed by the strength of full-service offerings and broad and deep industry expertise. Your financial well-being remains our top priority, and we will continue to serve you at the highest level. William is a CERTIFIED TRUST AND FINANCIAL ADVISOR who has been serving clients for more than 23 years. It’s up to the firms themselves. There needs to be a rehabbing of the corporate culture. On the job, are there personal affronts to blacks and other minorities? “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. One was for the wealth management industry. I’ve seen white advisors come down on clients for that, saying they’re supporting someone too much. Unfortunately, the racial diversity programs some firms have put in place “don’t do anything,” she insists. Some advisors will hold virtual meetings to practice social distancing and will contact you with more details about that process. 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. The members of the BFAN Advisory Council include the network co-founders and represent a cross-section of Raymond James advisors – geographically and by affiliation, industry experience and practice size. When did you first realize that was an issue? You said the firms need to find potential FAs “where they are.” Where is that? You MUST Be Willing To Invest In Yourself. Orthodontist and advisor Mart McClellan and former Prudential advisor Tim Streid tell ThinkAdvisor how they advise their niche clients. “The financial services industry as a whole has not done a good enough job of recruiting, training and retaining diversified financial advisors, and Raymond James is, unfortunately, no exception, but we’re committed to changing that.Thanks to the efforts of this group of individuals who saw a need and took action to create the Black Financial Advisors Network of Raymond James – so named to represent advisors of multiple ethnicities – along with additional efforts to bring in a new, more diverse generation of financial advisors through early exposure to our industry and college recruiting, we are taking significant steps toward our goal. © 2020 Raymond James Financial, Inc. All rights reserved. These steps include hiring a diversity recruitment program manager; asking hiring managers to interview at least one diverse candidate for posted jobs; and raising the firm’s presence at and sponsorship of recruiting events for women, veterans, people of color and other minority populations. In business only since last September, she has a dozen clients and manages assets of $5 million. It was very rare to see anybody of color, male or female, in a financial advisor role. It is well documented that the financial condition of most Americans suggest that significant improvement is needed. It’s the elephant in the room. ThinkAdvisor recently interviewed N’Jie-Konte, speaking by phone from Silver Spring. You’ll work, yes, but you can also enjoy more time with your families. ALSO READ: Pros and Cons of Being a Financial Advisor. The strength of Raymond James is reflected in both these ongoing accomplishments and in the consistent recognition we receive from our industry and our peers. I don’t think they do anything. Why did you leave RBC to start your own RIA? I didn’t want to wait to advance more. There are four main types of financial advisors: Commissioned – These financial advisors are often referred to as Brokers, agents of Broker Dealers, or Registered Representatives. The industry needs to be revamped. The rewarding aspects of working as … Much like the Raymond James Network for Women Advisors, which started small and has grown to a force of more than 800 advisors, the Black Financial Advisors Network looks forward to becoming the premier organization for financial advisors of color in the industry, with Raymond James a model of diversity. BFAN’s goal is to establish Raymond James as the destination of choice for experienced black financial advisors who seek a place where they are welcomed, supported and celebrated in their success. 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