Diversity & Inclusion Awards Diversity Champions part 01

Full name of company Type of organization If other, please describe City State Year firm was founded Firm’s…

Full name of company	Type of organization	If other, please describe	City	State	Year firm was founded	Firm’s assets under management	Please describe the firm’s initiatives that were developed to foster diversity and inclusion within the firm or within the financial advice profession. Describe the firm’s internal programs that seek to improve diversity or its external campaign to boost financial literacy among diverse groups, publish research or other writings showing the impact of diversity and inclusion, or other successful efforts to advance diversity and inclusion in the advice business.
Morningstar, Inc.	Fintech company	Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offers an extensive line of products and services for individual investors, financial advisors, asset managers, retirement plan providers and sponsors, and institutional investors in the private capital markets. Morningstar provides data and research insights on a wide range of investment offerings, including managed investment products, publicly listed companies, private capital markets, and real-time global market data. Morningstar also offers investment management services through its investment advisory subsidiaries, with more than $201 billion in assets under advisement and management as of March 31, 2018. The company has operations in 27 countries.	Chicago	IL	1984	not applicable	Diversity & Inclusion at Morningstar Research tells us that diverse companies achieve better business results, but first and foremost at Morningstar, we believe diversity is the right thing to do. Joe Mansueto founded our company 34 years ago on a foundation of openness, transparency, and welcoming diverse ways of thinking, with people at the heart of our business. Great People is one of our six core values, and every person here matters and contributes to our success. At Morningstar, diversity means our people represent different backgrounds and experiences, reflecting the local population in which we operate. Our focus on inclusion means that we strive to make every person feel heard, fairly treated, and safe to make their full contribution. Over the past year, we’ve accomplished even more to support diversity and inclusion—here are some highlights: • We launched the Diversity Council, composed of a chair, executive sponsor, and a cross-section of 12 employees from all levels of the organization. • For the first time, we shared gender and ethnicity data internally and communicated key data externally • Morningstar joined other world-class companies in being named a Human Rights Campaign Foundation Best Place to Work after scoring 100 on the HRC Corporate Equality Index. • Our CEO hosted our first-ever company-wide Diversity & Inclusion Town Hall meeting and authored messages to our people reaffirming our support for immigration and stance on workplace harassment. • We rolled out our Diversity Action Framework, a companywide operating model based on the employee lifecycle (Join, Grow, Retain, and Lead) to help further our goals to make diversity and inclusion a key part of how we do business. • We worked closely with our Women’s Initiative (WIN) and Out@Morningstar employee resource groups (ERGs) and supported the launch of two new ERGs: Viva!, which connects members and allies of the Latinx community across Morningstar, and BCA, our Black, Caribbean, and African network. • Our inaugural Diversity & Inclusion Expo attracted several hundred employees and highlighted all of our employee resource and affinity groups. • Our global Pride Week celebrations involved hundreds of people around the world. • We sent 18 employees to the Grace Hopper Celebration that attracts 18,000 people and focuses on women in technology. • Our Talent & Culture team made great strides in our collection of diversity data, including self-identification for sexual orientation and gender-identity information. • We established a gender transition policy for transgender employees undergoing or contemplating a transition. It’s an exciting time at Morningstar, and we’re thrilled to build on a culture of openness the momentum we established over the past year by continuing to regularly publish our diversity data, help our business units embrace our diversity and inclusion framework, improve our sourcing of diverse candidates, expand the reach of our ERGs, and celebrate the Great People that make Morningstar the unique, innovative, and creative place it’s been since day one.
Mesirow Financial	Other	Diversified Financial Services	Chicago	Illinois	1937	More than $200 million	Diversity and inclusion was formalized as an embedded function in 2015. Since then we have introduced a number of initiatives designed to expand our diversity and inclusion footprint. They are centered around three strategic pillars: diversifying our workforce, optimizing the workplace and penetrating the marketplace. Mesirow Financial partners with several diverse professional organizations including, but not limited to, the Robert Toigo Foundation, the National Black MBA Association, Out & Equal Chicagoland and Prospanica. Our partnerships with these organizations have focused on providing our employees with opportunities for career development and networking opportunities, while allowing us to share the benefits of working at our firm with diverse audiences. Locally, we have increased our outreach to diverse student groups at Chicago-area colleges and universities. We regularly speak at panels or other sessions to introduce students interested in pursuing a career in financial services to Mesirow Financial; With the hope of highlighting various career paths, in 2017 we have been driving people to a new feature on our corporate website, the “Employee Spotlight,” aimed at featuring the unique skills and traits different employees bring to Mesirow Financial. As a result of these combined efforts, we have seen an increase in interest among diverse candidates in applying to opportunities at Mesirow. To help measure our success to date, as well as providing a forum for employees to express their opinions and experiences, our 2017 employee engagement survey included specific questions around diversity and inclusion to ensure our strategic diversity goals align with employee needs. The results proved that a majority of employees feel Mesirow is committed to supporting a culture of diversity and inclusion. Mesirow Financial was an original member of the Financial Services Pipeline (FSP), a collaboration of Chicago-area financial institutions committed to growing African-American and Latino talent and improving cultural competency in financial services. It is also worth noting the FSP has a candidate database that we have used to identify potential talent for internship and full-time opportunities and we have successfully increased the number of diverse interns as a result of using the FSP database. Q#2 We recognize that employees today want to align themselves with a firm that not only has brand awareness and strong business acumen, but which also maintains values and the drive to make a difference for both clients and the community at large. We are inspired to nurture the eclectic combination of mature, experienced professionals with the innovation and creativity of younger professionals and believe investing in our employees leads to superior results. In addition to PrideConnect, Mesirow Financial has three other employee resource groups: 1. WomenConnect, designed to provide educational and business/professional development events for female employees and clients 2. PeerConnect, designed to improve employee engagement, further personal and professional development and strengthen networking channels throughout the firm 3. The Employee Inclusion Council, designed to provide strategic input and direction to align diversity and inclusion efforts with business priorities.
Voya Financial Advisors	Broker-Dealer		Des Moines	IA	1968	not applicable	Voya Financial People with special needs and disabilities and their caregivers are often overlooked in today’s society, especially when it comes to planning for the future. Resources to help families with this process are becoming more available and easier to use, but planning for the future for people with special needs and their caregivers can be even more challenging. Serving the special needs community – including those living with special needs and disabilities and their caregivers – is an extension of Voya’s vision to be America’s Retirement Company®. In 2016, Voya launched a Special Needs Task Force to determine how the company can best support and serve the special needs community, which faces even greater challenges to financial security in retirement than the broader American population. Now, formally known as Voya Cares™, Voya is shining a light on the unique issues that people living with special needs and disabilities and their families face by providing a much-needed resource that people can turn to for help. Grounded in the belief that people are defined by what they can do – not by what they can’t – Voya Cares offers advisors and employers support for special needs planning. In 2018, Voya began the process of expanding its special needs financial planning support capabilities to the firm’s 2,000+ advisors within Voya Financial Advisors (VFA). Through the Voya Cares program, Voya is highlighting the issues that people living with special needs and disabilities, their families and caregivers face daily, and the importance of providing specialized financial planning. Delivered through in-depth classroom-style sessions, educational materials, individualized phone-based or in-person financial advice and planning resources, the program provides an opportunity for advisors to learn about Voya’s coordinated, community and team approach. This includes teaming up with professionals like accountants and attorneys to help put together the best plan possible to accomplish one’s goals, covering topics: The VFA program, and Voya’s broader efforts to support people with special needs, aligns with the company’s unique culture and DNA. Voya is a different kind of company that cares about its mission to help all Americans plan, invest and protect their savings – to get ready to retire better. #2 As experts in Retirement, Investment Manage Voya recently launched a special needs planning Resource Center on Voya.com/voyacares, integrated special needs planning into its myOrangeMoney® participant website experience and built a library of case studies to leverage during client planning discussions. This comprehensive collection illustrates key topics like beneficiary planning, retirement replacement income and special needs trusts. Voya also launched the “Invest in Something Special” social media campaign, helping provide funds for Special Olympics and increase awareness of the community of special needs families. Generating over 940,000 social engagements, this offered advisors another opportunity to raise awareness of the unique challenges faced by people with special needs. The following video provides an overview and the impact it made within the community: https://bit.ly/2ExJdMS.
Financial Planning Program, Department of Finance, College of Business Administration, The University of Akron	Academic institution		Akron	Ohio	1999	not applicable	The Financial Planning Program at The University of Akron (UA FPP) seeks to increase the diversity of the profession through programs—for students, prospective students, influencers and community members—that (1) promote increased diversity within the profession and (2) provide financial literacy education and support to the diverse local community. In three distinctive events, UA FPP reaches out to career influencers through a Women and Diversity Symposium; to high-school juniors through a Finance Day for financial literacy and college preparation; and to community members in Akron through a pro bono Financial Planning Day. The UA FPP created the Financial Planning Women and Diversity Symposium as an annual forum to increase diversity in financial planning and financial services. The Symposium’s target audience is “career influencers.” These high-school guidance counselors, teachers, administrators, college academic advisors, outplacement counselors and youth organization leaders advise and encourage students and career changers on their choices. In an important redirection, the Symposium brings career influencers together with financial-service professionals to help the influencers see how the profession has evolved over the past two decades. It is a true professional services practice, having left behind the career in sales those influencers may have imagined it to be. Symposium panels discuss career options and how the profession offers unique opportunities for women and people of diverse backgrounds. Roundtable discussions allow career influencers to interact directly with industry professionals. Through such perspectives, influencers gain a new view of the profession. They also develop relationships with local financial professionals who can provide financial literacy support to schools and community organizations in attendance. The UA FPP created Finance Day, a student-developed financial literacy event for high-school juniors from the six high schools in the Akron Public School district where over 90% of students receive food assistance due to family economic situations. Created as a fun event, the program engages students with interactive presentations on budgeting, investing, and making good financial decisions, as taught by financial professionals and business leaders. It is held on the University campus. Students also receive information on preparing for higher education planning and funding and are given an opportunity to experience some college-student life by touring campus and eating in the main cafeteria. The program is sponsored by a local community bank and operated in collaboration with the College of Business, the Lebron James Family Foundation College of Education, and University Admissions. The UA FPP, along with the department’s Financial Planning Student Association, hosts the annual Financial Planning Day pro bono financial education and information event for the public, sponsored by the Financial Planning Association Northeast Ohio Chapter. Held each October, the event is a day-long series of educational classes on major topics in personal finance. Open to the public, the program is marketed to the lower-income portion of the community through collaboration with local media. In addition to the education program, financial planners are available throughout the day on a pro bono basis to answer questions from community members.
Wells Fargo Advisors	Custodian		St. Louis	Missouri	1879	More than $200 million	Wells Fargo Advisors is actively working to increase diversity and inclusion among Wells Fargo Advisors’ employee base by improving recruiting and training programs for diverse individuals. Our Next Generation Talent (NGT) programs are designed to eliminate obstacles that have historically created barriers for diverse candidates to pursue a Financial Advisor careers. We’ve shifting focus away from the traditional, cold-calling/commission-only model and have pioneered the creation of four distinct mentoring, salary-based programs, designed to open the financial industry to a much more diverse advisor workforce. We have developed new advisor programs and a branch manager leadership program to increase diversity. For example, the Associate Financial Advisor (AFA) is an apprentice program that pairs new advisor trainees with experienced senior Financial Advisors. It’s a salaried position for two years and the salary shifts to variable comp beginning in year three. Additionally, the Financial Relationship Advisor (FRA) is a salary based, in branch financial advisor position serving the mass and emerging affluent client, segmented from existing FA population’s ‘book of business’. We’re excited that approximately 45% of FRA and AFA participants are diverse and these programs boast a 85% retention rate. The Branch Manager Leadership program (BMLP) identifies and develops new manager talent for the next generation of branch leadership. Team members work with a seasoned host manager to create an inspired, unified, and motivated branch team and 80% of these candidates are diverse and half of the BMLP Graduates since 2009 have been promoted to a second or third field leadership role. We leveraged a partnership with Harris Stowe State University, a historically Black College and University (HBCU) located in St. Louis, MO and adjacent to Wells Fargo Advisors campus. Wells Fargo contributed $250,000 to build and outfit a finance lab at Harris-Stowe as part of the company’s efforts to increase opportunities for all students and increase diversity within the investment field. The curriculum includes a Series 7 focus and the Wells Fargo Finance Center at Harris-Stowe opened its doors in February 2017 and offers trading platforms, student-managed funds, and other real-world experiences to better prepare students for careers in finance. Wells Fargo Advisors team members have led resume-writing workshops for Harris-Stowe students and hosted “Dress for Success” events. About 10 Harris-Stowe business students work at Wells Fargo Advisors each semester as interns, gaining experience in project management, compliance, accounting, and other areas. Our Next Generation Talent programs are transforming the culture of our company by including diverse groups in leadership roles in the company. WFA’s Diversity & Inclusion Council, chaired by our President, David Kowach, has Action Teams working to ensure inclusion in our branch network. Our annual Women’s and Black/African American Summits offer opportunities for diverse Financial Advisors to network, exchange ideas and grow their practice. Our Women’s Manager Initiative offers a bi-monthly call series to support women managers. Finally, our Team Member Networks represent ten different diversity dimensions and provide team members with personal and professional development, leadership opportunities and mentoring.
Association of African American Financial Advisors	Association or other industry group		Washington	DC	2001	not applicable	The Association of African American Financial Advisors (AAAA) was founded in 2001 by LeCount Davis with the mission of developing and fostering professional relationships among minority professionals working in the financial advisory industry. AAAA also provides a forum for the professional development, training and visibility of its members. In 2015, AAAA partnered with FPA’s Diversity and Inclusion Initiative by holding its inaugural national conference as a preconference to FPA’s national conference. Attendees relished being in a room packed with successful subject matter experts and financial professionals who represented the African American community. The conference also provided a platform for firms to showcase their diverse talent as conference speakers and panelists. AAAA will hold its 4th annual VISION conference September 9 – 11, 2018 in Atlanta, GA. AAAA’s annual conference affords African American financial professionals the unique opportunity to be majority influencers in a profession that rarely exhibits a concentration of people of color within firms or at industry conferences. Engaging with like-minded colleagues fosters communal support, the sharing of best practices, and innovation. Several organizations have contacted AAAA for conference speaker suggestions and opportunities to engage diverse talent. AAAA has also partnered with the College of Financial Planning in creating a scholarship that covers all costs associated with enrollment in CFFP’s CFP Certification for an AAAA member in good standing. In January 2018, AAAA launched its new website which includes a membership portal and Find An Advisor tool. Membership enrollment and consumer inquiries continue to climb at a steady pace, reflecting the demand for the community and platform created by AAAA. AAAA is currently a 100% volunteer-based membership organization run by financial professionals who have invested countless hours in building and growing the organization. Members and partners alike view AAAA as a trusted organization that is deeply committed to advancing diversity and inclusion efforts and that recognizes and values the contributions of African Americans in the financial services profession.
Debt Free Guys, LLC	Other	Debt Free Guys, LLC is the leading financial education resource for the LGBTQ community and the financial services industry regarding financial issues facing LGBTQ people.	Denver	Colorado	2014	not applicable	The purpose of Debt Free Guys and Queer Money™ podcast, under Debt Free Guys LLC, is spreading financial literacy and fiscal responsibility throughout the LGBTQ community with content on our platforms and partnerships with financial services firms, media and influencers. With a combined 34 years in the industry, we were excited about the effects of marriage equality on our community yet surprised that most financial services companies and platforms stopped talking about the financial nuances of the LGBTQ community. Marriage equality doesn’t equal full equality. We can still be denied employment, housing and services in 31 states for being LGBTQ. Advisors building relationships with LGBTQ clients should know this. This silence exacerbated the issue that there was (and still is) little representation of us in financial services marketing, collateral and media, even though many financial advisors have asked for such material. Queer people don’t “see it” and thus struggle to “be it.” Therefore, many in our community struggle with financial insecurity and don’t trust the financial services industry to help them. With over 100 episodes of Queer Money™, we’re the only show talking about the financial nuances of the LGBTQ community. Our show gives financial advice and guidance to strengthen the queer community. It, also, highlights successful LGBTQ people, such as millionaire philanthropist, Tim Gill, media mogul, Emil Wilbekin, and former EVP of Human Resources for Charles Schwab, Jay Allen, to inspire our community to do more and be more. In partnership with Forbes, we spearheaded Forbes’ first LGBTQ money vertical, which has allowed us to publish exclusive LGBTQ research produced by MassMutual, the Small Business Majority and the HoneyFi App. Additionally, we’ve published queer money articles on Motley Fool, Yahoo!Finance, NASDAQ.com and more. Because of our role in both planning and participating in the 2017 and 2018 University of Akron’s Women & Diversity Symposiums, there has been an LGBTQ voice advocating for LGBTQ diversity within the financial services industry, and we’ve echoed this in Forbes. Through brand partnerships, such as Prudential’s LGBT Financial Experience Symposium in 2016 and 2017, Chase’s Savings Diaries Project and Capital One Cafe’s Money & Relationship workshops, we’re the face of LGBTQ money. Consequently, we’re raising awareness of the need for firms to connect with LGBTQ people to spread financial education and support. On a smaller scale, our cause has the attention of Farnooo Torabi of So Money and O, the Oprah Magazine, business journalist Emma Johnson of Like a Mother and Joe Saul-Sehy of Stacking Benjamins, who have all hosted us on their shows to spread financial education awareness throughout the queer community and financial services industry.
BlackRock	Asset manager		New York City	New York	1988	More than $200 million	BlackRock’s commitment to authentic diversity and inclusion is both bottom-up and top-down – with its US Wealth Advisory (USWA) group, led by Salim Ramji, senior managing director, actively endeavoring to infuse that commitment within the advisory profession at large. USWA’s efforts take the form of tangible guidance for diversity- and inclusion-based RIA practice management as well as active, public advocacy for more women in advisory. USWA professionals actively encourage diversity and inclusion at RIA firms via the unit’s Affinity Group, which provides comprehensive consulting support to firms on a host of issues vital to viability and success – including how to enlist fresh “voices” in serving an increasingly diverse client base. To date, the Affinity Group has completed more than 80 consulting assignments, which typically involve coaching senior RIA firm leaders and advisors on how to build and sustain a more diverse service model for their firm. The group leads open-ended interview sessions with firm senior leaders on business successes, challenges, and ideas, with leaders encouraged to invite team members ordinarily lacking a “seat at the table” to participate. With the USWA’s guidance – which often can extend over many weeks — clients implement new policies and practices for more inclusive strategy development and decision-making, helping to retain and develop diverse talent, enhance beneficial collaboration, encourage respect among peers, and build the appreciation of the firm’s professionals, from all backgrounds. USWA also hosts an annual Women in Advisory: RIA Leadership Summit exclusively for female leaders at top RIA firms, and Hollie Fagan, head of BlackRock’s RIA channel, has written extensively (multiple times in InvestmentNews and CNBC) on the need and opportunity for more women in the advice profession. Such efforts tap BlackRock’s growing body of institutional knowledge and insight on inclusion. Indeed, BlackRock believes that a broad range of perspectives and talent, enhancing “diversity of mind,” supports a rich culture for employees and superior experiences for the firm’s global client base – a purpose-driven business model reflected in CEO Larry Fink’s most recent letter to shareholders (https://www.blackrock.com/corporate/investor-relations/larry-fink-chairmans-letter). Since 2015, more than 2,500 BlackRock professionals have participated in the firm’s Driving Better Decisions program, which provides training on avoiding bias in leadership and decision-making. BlackRock’s efforts to drive success via diversity were profiled in a 2015 Harvard Business School case study (https://cb.hbsp.harvard.edu/cbmp/product/415047-PDF-ENG). BlackRock’s ambitious goals and strong standards for diversity/inclusion start with recruitment: the firm has diversity mandates for hiring; recruits new, diverse talent via “Find Your Future” Forums for college students, and offers scholarships to students from diverse/inclusive communities. In 2017, women represented 53% of the firm’s 390 entry-level new hires and 36% of its senior leader new hires; the firm also has committed to achieving 30 percent female representation in senior management by 2020, as a signatory of the (UK) HM Treasury’s Women in Finance Charter. Extensive employee networks (Women’s Initiative, Out, & Allies, Black Professionals, Families, Veterans, Multicultural and Abilities) and internal programs (Women’s Leadership Forum, Leadership Excellence and Development Program) help further build a diverse, inclusive culture.
Raymond James Financial, Inc.	Broker-Dealer		St. Petersburg	Florida	1962	More than $200 million	At the heart of Raymond James is a phrase: “Our business is people and their financial well-being.” As a people-centered, values-based firm, we realize we will be stronger, more agile and more innovative when we reflect our diverse client base. Our “Thrive by 2025” strategy is based on four key pillars: recruitment, development, engagement and measurement, in support of increasing diversity and inclusion. Recruitment: In FY2017, we increased the diversity of candidate slates for all posted positions, through several initiatives that increased the firm’s exposure to diverse populations (women, people of color, individuals from other industries, next generation advisors). Initiatives include the Network for Women Advisors Second Careers efforts, our Advisor Mastery Program and diversity-focused events. As a result, 90% of our final candidate slates are diverse and over half of those hired in 2017 were diverse (female/person of color). We are proud to share that we increased diversity representation in our executive/upper management level to nearly 20% diverse in 2017, and to 30% on our board of directors in 2018. Development: Our goal is to work together to grow the language, behaviors and skills needed to foster a diverse and inclusive workplace for all. This is done through educating our leaders and associates through various courses and in-depth training sessions. In partnership with a consulting firm, we developed an “Ethical Workplace Leadership” course for all people leaders. We built/introduced a new guiding behaviors model for associates this year, which incorporates courses that promote diversity, un-biasness and growth mindsets. This year, the firm is launching a campaign called “Inclusion Starts with I and Leads to Us,” in support of our efforts. Engagement: Raymond James’ Executive Committee tapped 15 senior leaders to form the firm’s Diversity and Inclusion Advisory Council. This year, the Executive Committee also appointed new leaders and sponsors to our five core networks that support the interests of women, veterans, the LGBTQ community, multicultural community and generational interests. These networks focus on professional development, engagement/education, networking/recruitment, and community outreach. Measurement:We administer a bi-annual engagement survey to all of our associates across the globe. Our survey in 2017 yielded an 89% participation rate and an 87% engagement rate. This spring, we will participate in the McKinsey/Lean In Women in the Workplace study for the third time. We also conduct assessments, participate in the local Tampa Bay Great Place to Work survey, and provide 360 assessments for our leaders. Q#2 Perhaps the best way to show a transformation of the organizational fabric is to describe our last event – International Women’s Day 2018. The event, sponsored by the Diversity and Inclusion team, included a panel discussion celebrating our own success and progress for women. The panel was made up of four new executive level women in our firm, who have been at the firm less than one year, to demonstrate the progress we have made in recruiting diverse leaders.
Piper Jaffray & Co.	Other	Investment bank and asset management firm	Minneapolis	Minnesota	1895	More than $200 million	At Piper Jaffray, we are committed to sustaining a diverse and inclusive workplace. In 2015, we formalized our commitment by establishing and Diversity and Inclusion (D&I) Council. The council works to advance our D&I Mission, and exemplifies how teams of diverse backgrounds, skills, and experiences yield more innovative results. The D&I Council is co-chaired by CEO, Chad Abraham, and managing director, Katie Koster. Additionally, a full-time D&I associate was hired to assist with the execution and coordination of initiatives. • Laying the ground work: The D&I Council established a business case for diversity and inclusion that is tailored to the firm through a series of roundtable discussions held across geographies, departments, and titles. This business plan was shared broadly at an all employee meeting and was underscored as a long-term business imperative for the firm to compete in a highly competitive industry. • Recruiting and diversifying the workplace: We post open positions on a number of nationwide diversity websites, build relationships with national affinity organizations, and frequently evaluate our sourcing strategy. Piper Jaffray also organizes company-sponsored recruiting events such as the Women in Business event to help female college students learn about financial services careers. Through our Career Exploration Program, we recruit and interview high potential students from diverse backgrounds across the country to attend a two-day event at our Minneapolis headquarters. The program allows diverse students to learn from key firm leaders, experience a career in investment banking first-hand. We then stay connected with these students as a talent pipeline for upcoming recruiting events and position openings. • Training and education: In 2017, our firm launched an online inclusion awareness training module that was completed by 98% of employees. The firm also hosts diversity-related events, posts diversity-related articles to the intranet, and is working to roll out a series of firm-wide unconscious bias trainings for all employees to help them identify unconscious bias in the work place. • Institutionalizing progress: The D&I Council has identified areas of opportunity to address in 2018 and will work with the leadership team to engrain best practices within the firm’s culture. We continually take a critical lens when evaluating current systems. Establishing a Rooney Rule, incorporating D&I into year-end evaluations, and holding leadership accountable are a few ways we are looking to instill a culture of inclusion and diversity. • Diverse Leadership: Piper Jaffray has been recognized 7 consecutive times by 2020 Women on Boards for the presence of women on our board of directors. Currently, two of eight board members are female and historically, that number has been as high as four. In addition to women, there is racial diversity on the board as well. Each September at the BOD offsite, a diversity update occurs where progress on inclusion and diversity is presented and evaluated. • External partnerships: INROADS, Wallin Scholars, STEP-UP Achieve, Cristo Rey Intern Program, and College Possible are some of the many organizations Piper Jaffray partners with and supports to promote diversity externally and within the financial services industry.
Denver Investments Advisors LLC	Asset manager		Denver	CO	1958	More than $200 million	Denver Investments began offering employees domestic partner/same-sex spouse health benefits in 1998, the same year the firm added gender identity to its Equal Employment Opportunity statement. The firm took this action to align firm policies with those of the companies we were screening for what was to become the Workplace Equality Index®. Looking at the best practices of companies that treated all employees with dignity, respect, and equality caused us to implement many of the best practices of the firms we were screening. We created a firm-wide diversity committee, supported minority chambers of commerce in our home state, added historically minority colleges to our recruiting focus, reached out to minority student groups for internship opportunities, and looked for other opportunities to increase the firm’s diversity and inclusion. In fact, one of those interns, the first in his family to graduate high school, and first to go to college, helped author our seminal white paper, Return on Equality™, the Real ROE – The Shareholder Case for LGBT Workplace Equality. The conclusion of the paper, “current performance results suggest that companies that adopt LGBT-inclusive workplace policies tend to provide better shareholder returns than do their broader economic sector peers over time,” tested the commonly held notion that socially responsible investing led to sub-par returns. Prior to the publishing of Return on Equality™, the Real ROE, researchers had focused on the qualitative aspects of workplace equality. By highlighting the performance advantage equality-minded companies provided their shareholders, the Workplace Equality Index™ was the first to use quantitative analysis to show that investors can achieve superior returns while still expressing their values through their investments. This paper has been the focus of numerous conference sessions for financial advisors looking to add diversity and inclusion screening to their client portfolios.
Laserfiche	Fintech company		Long Beach	California	1987	not applicable	Laserfiche is the recognized market leader in enterprise content management, offering highly flexible and intuitive solutions for wealth management. Its mission is to automate and accelerate a wide variety of business processes, from new account opening to back-office operations. Using Laserfiche’s solutions, advisor firms of every size can quickly create a more agile infrastructure, boost efficiency, improve service, simplify compliance and enhance business value. What’s more noteworthy? The company’s impressive track record when it comes to gender diversity. It was in the 1970s—a time when it was far less common for women to hold prominent roles in science, technology, engineering and math (STEM) professions—that Laserfiche founder Nien-Ling Wacker launched her software engineering career from her own home. When she founded Laserfiche in 1987, she pioneered a path for women to “lean in” and participate in the technology industry on an unprecedented level. While the U.S. Bureau of Labor Statistics reports that women hold just 25.5 percent of computer and math-related occupations nationwide—and recent studies indicate that women make up 30 percent of the workforce at major technology companies—Laserfiche’s numbers tell a different story: • At Laserfiche, women account for nearly 50 percent of the total workforce. • More than 50 percent of the company’s director-level positions are held by women. • 36.7 percent of the Laserfiche development team is made up of women, far surpassing the national average of 18.7 percent for the software development field. Laserfiche’s gender diversity is a testament to the firm’s culture, values and mission, which resonates with individuals of all backgrounds. A strong advocate for women’s inclusion in the workplace, the firm incorporates mentoring programs for young employees to provide them with the encouragement and resources they need to succeed. Additionally, half of the participants in Laserfiche’s internship program are female. As one Laserfiche employee noted, “Representation matters—often we need to see someone like us before we can see ourselves in a particular career or industry.” Laserfiche actively encourages its employees to take part in both local and national initiatives that promote female participation in STEM fields – e.g. The Grace Hopper Celebration, which provides a networking forum for women in STEM careers, and the Young Women’s Empowerment Conference, held through Rep. Alan Lowenthal’s office. In previous years, Laserfiche representatives have also attended American Association of University Women (AAUW) conferences. While undertaking a proactive approach to gender diversity, the firm in part attributes its success to a ‘merit-based’ approach that recognizes employees based on performance and offers them the room to experiment with various workplace projects. This allows for women to naturally rise to the top, without gender biases hindering their professional progress. The firm is proud of its female employees’ accomplishments and impressive career trajectories, regularly highlighting their individual journeys through a blog series entitled, “Women in Tech.” Some firms jump on the diversity bandwagon to address a topical issue. In contrast, from inception, Laserfiche has cultivated a collaborative culture that fosters female success, and the results speak for themselves.
Nationwide	Other	Insurance and Financial Services organization (Both)	Columbus	Ohio	1926	More than $200 million	FUNDING RESEARCH THROUGH THE AMERICAN COLLEGE OF FINANCIAL SERVICES Nationwide and The American College of Financial Services are long-time partners. Founded in 1927, The College has a rich history of providing financial services education. Our partnership with The College has given our associates opportunities for accredited professional development. Current designations and programs include the Chartered Financial Consultant® (ChFC®) designation, the Master of Science in Management (MSM) degree program, and education leading to the Certified Financial Planner™ (CFP®) designation. These opportunities help boost financial literacy and advance diversity and inclusion across the company. Designed to shape our next generation of leaders, these programs inspire team collaboration and innovative thinking. The College and a coalition of partners across the country are working together to double the number of African American financial advisors by 2027 through scholarships, educational support and placement opportunities to African Americans pursuing a career in financial services. Nationwide is proud to be one of those partners; demonstrating our commitment to fostering diversity and inclusion within the financial services industry by investing $250k to fund research aimed at uncovering barriers to entry into the financial services industry for African Americans. The first two of five research phases will focus on foundational perceptions and barriers for current and future African American financial advisors. The last three phases will focus on African American clients, preferences and trust factors. Nationwide Financial and The College will present initial research at The College’s annual Conference of African American Financial Professionals (CAAFP), for which Nationwide Financial is a contributing sponsor ($10k). The CAAFP creates a forum for leading companies from across the financial services profession to further the education, advancement and heritage of African American financial professionals. With the research results, Nationwide Financial will partner with The College to create actions that will help its “Double by 2027” initiative. Only 8% of financial advisors are African American, despite African Americans accounting for more than 13% of the US population. Additionally, studies show only 19% of African Americans have a financial advisor. Nationwide believes we can make a meaningful impact on our industry by partnering with The College to fund this research addressing why African American financial advisors are underrepresented in our industry. Nationwide believes in leading by example. By making diversity and inclusion a priority, we want to positively influence other businesses in the industry. This investment can have a long-term positive impact on the industry. Nationwide is deeply committed to continuing to grow our inclusive workplace now and into our future. Nationwide is a diversity champion and we are honored to be recognized for our efforts. Below are some awards we have received: Catalyst: 2018 Catalyst Award Gallup: Great Workplace Award Black Enterprise: 50 Best Companies for Diversity Human Rights Campaign: 100% Rating for Equality Index and Best Companies for Transgender Associates Fortune: Best Companies for Diversity, Best Workplaces for Women, Best Workplaces for Millennials, Best Workplaces for Giving Back Latina Style 50: Top 50 Companies for Diversity U.S. Veteran Magazine: Top Veteran-Friendly Companies
Office of the Illinos State Treasurer	Other	State Treasurer’s Office	Springfield	Illinois	1818	More than $200 million	TRANSFORMING THE TREASURER’S OFFICE TO PRIORITIZE DIVERSITY Illinois Treasurer Michael Frerichs has made it a priority to transform the office’s culture, policies, and operations to increase opportunities available to minorities, women, military veterans, and persons with disabilities (MWVD). RFP PROCESS – Preference Points – All RFPs now provide points in the scoring process to MWVD applicants, positioning MWVD firms to obtain more business with the State. – Diversity & Inclusion Disclosures – As of March 2017, the Treasurer’s Office requires firms seeking to business with the office to disclose how their firms promote diversity and equal opportunity. FINANCIAL INSTITUTION SURVEY – Diversity & Inclusion Disclosures – The Treasurer’s Office conducts an annual survey wherein financial institutions that do business with the office are required to disclose information on diversity among their ranks and details on how their organization promotes diversity and equal opportunity. MWVD BUSINESS LIAISON – Staff are specifically deployed to assist MWVD firms in doing business with the Treasurer’s Office. ENFORCING COMMUNITY INVESTMENT STANDARDS – New Policy Standards – The Treasurer’s Office now reviews a financial institution’s record of commitment to its community when deciding whether to do business with that firm. – Suspension of Two Financial Institutions – The Treasurer’s Office cut off investments to two financial institutions for failing to meet CRA requirements. MWVD BROKER/DEALERS – Since 2015, the Treasurer’s Office increased utilization of diverse broker/dealers from 1% to 63%. In FY 2014, total assets brokered with MWVD firms was $603 million. In FY 2017, total assets brokered with MWVD firms was $24 billion. That’s 40 times more utilization. MWVD ASSET MANAGERS – Garcia Rule – Now require that for every search for an investment manager, at least one diverse-owned manager must be included. – Utilization – Increased from $16 million in January 2015 to $327 million in March 2018. That’s a 20-fold increase. CORPORATE AND MUTUAL FUND BOARD DIVERSITY – Policy on Board Diversity – In accordance with the Treasurer’s Sustainability Investment Policy and the Proxy Voting Policy, the Treasurer’s Office now advocates for racial and gender diversity on corporate and mutual fund boards. – Coalitions – (1) Thirty Percent Coalition – The Treasurer’s Office is a member of the Thirty Percent Coalition, a coalition of investors committed to the goal of women, including women of color, holding more boardroom seats across public companies. (2) Midwest Investors Diversity Initiative – The Treasurer’s Office is a member of the Midwest Investors’ Diversity Initiative, a coalition of investors work to encourage boardroom change. – Shareholder Proposals – The Treasurer’s Office introduced shareholder proposals at two companies, FCB Financial and CACI International, asking the companies to formally adopt a policy to enhance board diversity. In March 2018, FCB Financial successfully adopted the requested policy. The engagement with CACI International, initiated in April 2018, is ongoing. – Proxy Votes – Exercise our proxy voting rights to support proposals on increasing board diversity, gender pay gap reporting, and the inclusion of diversity as a performance metric for CEO pay.