American culture tends to focus on material items and how many zeros a person has in their annual salary. One trend I wish I saw more of is advice on how to invest those zeros, especially within minority communities. If more American minorities knew how to invest their money wisely, imagine the positive impact it would have on the U.S. economy. One of the issues facing minorities and investing is that financial advisors don’t know how to approach particular groups.
In 2011, a colleague of mine brought a story to my attention and asked me to think about it. When I read the article about financial advisors having difficulty tapping into the African American community for new clients I wondered why.