Diversity Champion Finalist
Independent broker-dealer Year founded:1978 Employees:80
South Florida, where Investacorp is located, is home to a diverse population, so the firm tries to mirror that range in its own makeup. Sixty-one percent of its employees are women, 60% are Hispanic or Asian, and almost 10% are African American. The six-member executive team includes African Indians, Hispanic and European Americans.
“A diverse workforce won’t happen by accident,” said Pat Farrell, the firm’s president and CEO.
While many of the employees are not college educated, they can overcome that disadvantage by making themselves valuable in other ways.
Mr. Farrell emphasizes another statistic behind his company’s approach: Half the employees have securities licenses, a higher percentage than at most broker-dealers and RIAs. If employees are willing to continue their professional education, Investacorp will help them by paying for their study materials. Plus, the firm pays a $1,000 bonus for each licensing exam passed.
Licensed employees are more likely to be poached by rival firms, but Mr. Farrell insists the benefits outweigh the risks. “A better-educated workforce does a better job servicing clients,” he said.
Contact Leslie Vigil, senior vice president of business development, at email@example.com to learn more about the firm's diversity and inclusion initiatives.
— Vanessa Drucker