, according to a 2021 analysis by ABFE, a membership-based philanthropic organization focused on Black communities.
. Therefore, financial firms and businesses of all stripes would be wise to make diversity, equity and inclusion an integral part of how they do business.Diversity can be a significant growth driver for financial services companies and institutions., with some of these households earning six figures and above. They need access to financial services providers and professionals who understand their unique challenges when it comes to economic mobility, wealth building and wealth transfer.
But diversity isn’t just important for future growth and better customer service, it’s critical for improved talent management and innovation. Organizations that embrace diversity often spend less time recruiting talent because they are drawing from a wider applicant pool with more diverse capabilities and perspectives. They’re also better at retaining talent. According to the CFP Board’s review, employees that work for diverse firms are often happier than those who don’t.
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