Get together! Wealth managers explain how affinity groups boost their bottom lines

Affinity groups can offer a lot of benefits to employees of wealth management companies. They can provide community and belonging, offer mentorship, assist career development and organize educational programs.

Meanwhile, affinity groups can also help boost an RIA’s bottom line by strengthening its culture and retention, improving its understanding of diverse customer bases and signaling its commitment to inclusion.

Of course, not all wealth managers manage their affinity groups alike.

At Quotient Wealth Partners, for example, affinity groups are primarily structured around career stages and roles, rather than strictly around identity alone. Groups such as next‑gen advisors, emerging leaders, and women at various points in their careers are designed to reflect the real questions people face as they grow including early career development, stepping into leadership, or balancing increased responsibility. This structure allows the groups to be practical and relevant, serving as a support system and feedback loop that informs how they approach talent development and leadership planning across the firm.

“By focusing on career stage and role, our affinity groups help people feel less isolated in their growth and more connected to others facing similar transitions. They create shared language around development, normalize asking questions, and reinforce that progression looks different at different stages,” said Ashley Stoker, chief of staff at Quotient Wealth Partners.

Stoker adds that these groups play a meaningful role in mentorship and retention at the firm by giving employees access to peers and leaders who understand where they are in their careers and where they want to go.

“Informal mentoring relationships often grow out of these communities, helping people see clear paths forward and feel invested in long‑term growth at the firm. From a recruiting standpoint, this structure resonates with candidates because it demonstrates that development is intentional and sustained—not one‑size‑fits‑all,” Stoker said.

Meanwhile, at OpenArc, affinity groups are employee-led and form organically around shared interests, identities, or professional themes, according to James Kaufman, managing partner and senior wealth management advisor at OpenArc. He says nine active affinity groups operate across the firm, each empowered to shape its programming and initiatives.

“These groups play a meaningful role in daily firm life by creating opportunities for connection, learning, and engagement. Their activities include hosting guest speakers, leading health and wellness initiatives, and facilitating firmwide discussions that reinforce shared values,” Kaufman said, adding that many groups also extend their impact beyond the workplace through volunteerism and fundraising efforts that support nonprofit organizations in the communities they serve.

From a long-term perspective, Kaufman says affinity groups reinforce OpenArc’s culture as a “collaborative, people-centered” firm.

“Although OpenArc is a relatively new firm, many of our employees have worked together for years, and in some cases, decades. Affinity groups have further strengthened those longstanding relationships by creating new opportunities to collaborate around shared goals and to gain deeper insight into one another’s interests, experiences, and passions,” Kaufman said.

Kaufman points out that affinity groups also contribute to retention and development by offering employees at all levels and from across the firm opportunities to take on leadership roles outside of their day-to-day responsibilities. Additionally, he says leading or participating in an affinity group helps employees build transferable skills, such as collaboration, communication, and initiative, while also creating natural opportunities for mentoring and cross-functional relationship-building.

“By fostering leadership, mentorship, and deeper cultural engagement, affinity groups help employees feel more connected to the firm and invested in its long-term success, reinforcing OpenArc’s ability to attract, develop, and retain top talent,” Kaufman said.

Finally, at Dynasty Financial Partners, affinity groups are deliberately designed as business-building communities rather than purely social organizations. Dynasty has developed several affinity groups for executive leaders, experienced advisors, investment specialists, technologists, middle managers, emerging advisors, compliance personnel, and operations support.

“These groups are not isolated from the broader business strategy,” said Casey Jorgensen, head of the Dynasty Institute for Adaptive Leadership (DIAL). “They directly support the long-term priorities of the underlying RIAs in terms of talent development, leadership pipeline creation, productivity, and enterprise growth.”

Jorgensen adds that they also create stronger connectivity across independent firms that can otherwise feel siloed or entrepreneurial in nature. Something that is central to Dynasty’s "Independent but Not Alone" mantra.

“At an operational level, these groups foster collaboration, knowledge sharing, and peer accountability. Strategically, they help strengthen the durability and scalability of our Network by developing more connected, confident, and capable leaders across the ecosystem,” Jorgensen said.

One of the strongest examples within DIAL, says Jorgensen, is the evolution of the Advisor to CEO Program and the community that has formed around it. While the program was initially designed as an executive education experience for first-time CEOs and business owners, it has transformed into a leadership platform for all key executives within an independent wealth management firm.

“The program is not just a curriculum, it's a trusted peer Network. Many executives in the independent wealth space are exceptional advisors, but owning and scaling a business requires an entirely different skillset and mindset. The Advisor to CEO Program creates a "no masks" environment to openly discuss topics like succession planning, talent management, organizational structure, partnership dynamics, growth strategy, and maintaining a healthy culture through scale,” Jorgensen said.