Founders of Onyx talk about the new platform

Founders of Onyx talk about the new platform
Onyx Advisor Network is a new platform designed to support underrepresented advisers by providing them with resources, tools, and networking. The founders, Dasarte Yarnway and Emlen Miles-Mattingly, discussed their plans for the platform and their vision of how to diversify the industry in an InvestmentNews livestream.
JAN 14, 2022

Onyx Advisor Network is a new platform designed to support underrepresented advisers by providing them with resources, tools, and networking. The founders, Dasarte Yarnway and Emlen Miles-Mattingly, discussed their plans for the platform and their vision of how to diversify the industry and remove gatekeepers in the InvestmentNews livestream hosted by Steve Lamb.  

Founders of Onyx talk about the platform

The platform supports all financial advisers, but specifically those who are underrepresented within the industry and gives them a chance to be seen and heard, along with a feeling of community.

“When we say underrepresented, we mean people of color, right? Women, women of color, people of the LGBTQ+ community that need a home or a seat at this table to be able to build their best lives through their practices,” Yarnway said.

Miles-Mattingly agreed, mentioning a conference where he saw a group of 15 underrepresented advisers among about 1,000 attendees and felt the significance of community, noting that there were shared conversations among the group and a feeling of unity over the fact that they were a few within a crowd of many.

He also described the importance of allowing people from diverse backgrounds to share their input and ideas within the finance industry. “If we want to change the complexion of wealth, we need more messengers to tell this message to the people that need to hear it,” Miles-Mattingly said.

Overall, the platform gives advisers who are not always heard or represented a sense of belonging. Onyx supports advisers' ability to say to themselves, “I belong in every room that I’m in” Yarnway said.

It helps advisers to grow their firms and not be afraid to reach out for help, in what Yarnway described as the push-pull model. “That pretty much means if you are doing something incredible, if you're onward to greatness, continue as a colleague and push that person forward," he said. "But if you're behind me and you're coming up in the industry, I have a responsibility to pull you through the same doors and fight you through the same tables and give you the same opportunities that I have the benefit of having.”

The network is about inclusivity, not about removing anyone from the table, Yarnway said, but “growing the room, it’s bringing everybody in. And I love that message.”

Tune in Tuesday for the full interview.

Latest News

Investing for accountability: How to frame a values-driven conversation with clients
Investing for accountability: How to frame a values-driven conversation with clients

By listening for what truly matters and where clients want to make a difference, advisors can avoid politics and help build more personal strategies.

Advisor moves: Raymond James ends week with $1B Commonwealth recruitment streak
Advisor moves: Raymond James ends week with $1B Commonwealth recruitment streak

JPMorgan and RBC have also welcomed ex-UBS advisors in Texas, while Steward Partners and SpirePoint make new additions in the Sun Belt.

Cook Lawyer says fraud claims are Trump’s ‘weapon of choice’
Cook Lawyer says fraud claims are Trump’s ‘weapon of choice’

Counsel representing Lisa Cook argued the president's pattern of publicly blasting the Fed calls the foundation for her firing into question.

SEC orders Vanguard, Empower to pay more than $25M over failures linked to advisor compensation
SEC orders Vanguard, Empower to pay more than $25M over failures linked to advisor compensation

The two firms violated the Advisers Act and Reg BI by making misleading statements and failing to disclose conflicts to retail and retirement plan investors, according to the regulator.

RIA moves: Wells Fargo pair joins &Partners in Virginia
RIA moves: Wells Fargo pair joins &Partners in Virginia

Elsewhere, two breakaway teams from Morgan Stanley and Merrill unite to form a $2 billion RIA, while a Texas-based independent merges with a Bay Area advisory practice.

SPONSORED How advisors can build for high-net-worth complexity

Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.

SPONSORED RILAs bring stability, growth during volatile markets

Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.