Christian Nwasike, principal and executive managing partner at Practice Management Consultants (PMC), has been “involuntarily removed” from the Association of African American Financial Advisors (AAAA), a nonprofit organization, InvestmentNews learned Friday.
While the organization said it could not confirm details surrounding his dismissal as chairman and acting CEO, Sheena Gray, interim CEO of AAAA, said its corporate partners were made aware of its decision.
“Unfortunately, we cannot share any details right now,” Gray remarked.
In a statement provided to InvestmentNews on Tuesday, June 6, Nwasike said divergent views on the future direction of AAAA resulted in the decision.
"While I am disappointed with the outcome and feel there were significant challenges with the process, I remain committed to the values we champion, and I sincerely look forward to the continued good work AAAA will achieve," Nwasike said.
Nwasike started his career in the 2000s at Wachovia Securities, which merged with Wells Fargo Advisors during the financial crisis. A former financial advisor, he started with the AAAA in 2019, serving as treasurer and conference planning committee chair, becoming chairman of the board in January 2022.
"This experience has been one of the most rewarding of my professional career, allowing me to champion the values of integrity, inclusivity, and excellence—values I hold dear," he added. "I want to express my heartfelt gratitude for the unwavering support and encouragement I have received from our community during my tenure at AAAA. My commitment to sharing thought leadership and advocating for equity and best practices to engage the BIPOC community in the financial services industry remains steadfast."
Nwasike is a regular speaker at wealth management events and conferences, encouraging wealth management firms in the industry to practice equality under corporate policy for all employees, diverse and non-diverse alike.
Nwasike said he plans to return full-time to PMC, where he will "continue this important work and encourage positive change in our industry."
As Commonwealth advisors weigh their futures following the firm’s sale, Summit Wealth Group is charting its own course as an independent RIA with $2.1 billion in assets, moving to SEI's custodian platform.
In today's volatile market, low-risk investments are more essential than ever. Uncover proven strategies U.S. advisors use to preserve capital and deliver steady returns.
Toward the end of last year, UBS said it was redrawing its pay plan for advisors, but “every time one of the big firms like UBS tinkers with the advisors’ compensation, some of them say, that’s it, that’s the last straw,” recruiter Danny Sarch said.
Clients care less about returns than you might think.
From direct lending to asset-based finance to commercial real estate debt.
From direct lending to asset-based finance to commercial real estate debt.
RIAs face rising regulatory pressure in 2025. Forward-looking firms are responding with embedded technology, not more paperwork.
