Creating diversity within the financial planning industry
Nelly Mubashi
Chief Executive Officer
Northwest Asset Management
See It, Be It Role Model
"Historically, there has not been much gender and minority representation in the financial services industry. In my opinion, the industry got comfortable with the status quo. In order to break this cycle, organizations have to be willing to be socially uncomfortable and have a conversation about change. Some concrete steps you can take to attract and retain diversity within your organization are:
1. Offer a flexible work schedule and remote working options. This is crucial for working parents.
2. Provide opportunity. Offer tuition assistance and other financial incentives to your staff to obtain industry licenses and certifications.
3. Add diversity to your leadership team.
4. Incentivize your leadership team to mentor and groom minority staff for future leadership positions.
5. Expand your hiring practices to include candidates from community colleges and other institutions where there is a higher minority pool to choose from.
6. Make a conscious effort to understand cultural differences. This will not only strengthen your organization but also expand your pool of clients."