Trust is key to the $113T Hispanic wealth opportunity

As a wealth advisor of Colombian descent living in Omaha, Nebraska, I'm proud to be a member of the Hispanic community in our country. Numbering more than 65 million strong — or nearly 20% of the U.S. population — Hispanic Americans are projected to accumulate an astounding $113 trillion in wealth by 2050, according to a study by Finhabits.

And yet just 9.5% of financial advisors identify as Hispanic or Latino, according to career platform Zippia, and less than 3% are certified financial planners, according to the CFP Board. That gap isn't just a missed opportunity, it's a call to action. Advisors who want to stay relevant and grow must recognize and adapt to the needs of this growing demographic. 

But first, a reminder: "Hispanic" is not a monolithic identity. It includes families with roots in Mexico, Puerto Rico, Cuba, El Salvador, the Dominican Republic, Colombia, Spain and beyond — each community with its own history, traditions and financial habits. Advisors who recognize these cultural differences will be at a clear advantage when it comes to earning the trust of the Hispanic population. 

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Serving these clients well requires more than technical knowledge; it requires cultural awareness, humility and a willingness to meet people where they are. The Hispanic community is highly relationship-driven. Trust is not given quickly, but once earned, it is lasting. I often remind colleagues: "Once we trust you, we are a very loyal culture — we aren't going to switch." 

'We see you, we're here for you'

That loyalty, paired with the community's historic wealth growth, makes this one of the most important opportunities of our time. My colleague Tim Avila, a wealth advisor in Yuma, Arizona, often notes that trust starts with language. Even small steps like incorporating Spanish into marketing materials if and when compliance allows or hiring bilingual staff send a powerful signal: We see you, and we're here for you.

As Tim put it, "The moment people hear or see something in their language, their ears perk up — they feel recognized." That recognition can be the first step toward trust, which in our business, is everything.

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From my own work serving Hispanic families in Nebraska, I've seen how cultural history shapes financial behavior. Many clients come from countries where pension-based systems dominate or where distrust in financial institutions runs deep. Older generations often prefer cash or guaranteed yield products like CDs.

Conservative mindsets and generational involvement

Even second- and third-generation clients may carry this conservative mindset forward. That's why education is key. At El Centro de las Américas, a nonprofit in Lincoln where I volunteer, I've hosted financial literacy workshops covering everything from checking and savings basics to the importance of retirement investing.

At one event, I asked the audience: "Who here has more than a year's salary sitting in cash?" More than half the room raised their hands. Once we walked through how those funds could be working harder in higher-yield options, you could see the lightbulbs go off. More importantly, you could feel the trust forming.

Another critical element is generational involvement. First-generation clients may be hesitant to engage with advisors, but their children, who are often bilingual and more financially literate, are eager to explore wealth-building strategies. Bringing both generations into the room ensures decisions are understood, respected and acted upon. It's also an opportunity for advisors to extend relationships across multiple generations, positioning themselves as a trusted resource for decades.

Differing cultures, same core needs

At the end of the day, the Hispanic community isn't looking for something different from what we already provide our clients. They want financial security, retirement readiness and peace of mind. What they need is an advisor who respects their culture, speaks their language — literally or figuratively — and is willing to earn their trust. They want to retire and live well, just like anybody else.

For advisors willing to invest in cultural understanding, bilingual support and community education, the opportunity is enormous. This isn't just about growing our books of business — it's about making sure our profession reflects and serves the real face of America.

The future of wealth in this country is increasingly diverse. Advisors who embrace that reality, and who serve with empathy and respect, will not only thrive in business but also create lasting impact in their communities.