It is no doubt that wealth management is not evenly distributed with little diversity towards Black people. As the conversation on workplace discrimination becomes louder, many are looking to create change from within their places of work. For these two business partners, their goal was to bring light to this subject through their work with the finance giant, Morgan Stanley, by becoming the youngest Black advisors in the company.
Isaac Richard III and Dominique Jordan have managed numerous clients on their team, and look to change the perception people have when hiring financial advisors.
“We’re a CFO for high net-worth families if you will. It’s a relationship-based practice helping clients protect and grow their assets while engaging all of their other professional relationships and strategic partners,” said Richard. “When we begin working with a client, we do so with the expectation of working with them for several decades. This allows us to help clients make educated decisions surrounding wealth that incorporates their families for generations to come.”
“With the lack of representation in the wealth management space, I almost ask myself do those members of that respective group even know we exist,” said Jordan. “Lastly, and most importantly, community education. The wealth inequality gap between Black and white households is too drastic, even to this day. So using the platform to educate our community through wealth management is paramount.”
Jordan advises those who look to enter the field not be discouraged and work to grow within the sector. “My advice is to know that you are valued beyond measure,” added Jordan.”Just being able to walk through the doors of a Wall Street firm as an African American presents that you hold professionalism and the ability to maintain many different weights on your shoulder. Use that to be confident and know you can handle anything and always ask questions. Pay your dues, but also be persistent and specific in your growth.”
