Creating diversity within the financial planning industry
Lule Demmissie
President
Ally Invest
See It, Be It Role Model
"It’s clear the up-and-coming generation of investors is demanding change. America is, and growing further into, a multi-racial and multi-identity country. People as consumers and citizens are expecting more from their service providers. They do not see a distinction between an institution's responsibility to do “good” to advance equality and their creating compelling products and services. Increasingly, our workforce, customers, and communities will be represented overwhelmingly by the full spectrum of the rainbow. The financial industry cannot afford to be left behind. We must evolve. How do we do that? By showing more courage in talking openly about where and when bias occurs and accepting that it’s okay to make mistakes. Also, by actively diversifying our pipeline of talent throughout the organization. It is no longer acceptable to see diversity thinning out in the management ranks of financial institutions. Inclusion is a practiced art, and we have to stop outsourcing the responsibility of forming an inclusive and fair workplace and pipeline of talent to our D&I groups. Those groups are there to help us challenge ourselves, connect the dots, begin the conversations, and seed the work. But it’s up to each of us as operators to do the actual work of combating systemic racism and bias, and it starts by examining our own networks. If your close friends, neighbors, family, colleagues and LinkedIn connections all look the same, is it any wonder we lack diversity across our business organizations? Start by taking coffee and lunch with colleagues who look different from you. Actively form deep and meaningful relationships with a wide array of people and identities. Leaning in to expand your immediate circles will have a powerful impact on your worldview – and on your available “pipeline” for talent. Communities and companies that have made headway on this front see incalculable benefits."