Diversity and equality

Industry efforts still have far to go as less than 3.5% of the 80,000 CFP professionals were black or Latino in 2017.

The inaugural event builds on mounting industry interest in improving its historically dismal record on growing the ranks of minorities and women in wealth management.

Still, the bank’s revenue-producing operations are split into four divisions, which are all run by men.

A former employee suing the firm for racial discrimination says he was not properly notified of changes in how Morgan resolves disputes.

Stereotyping investors can cause long-term damage to financial success for clients and planners.

Our business isn’t just about big firms anymore, but we still see the old stereotype that investing is a man’s game dominated by Wall Street firms.

Courses at historically black colleges and universities are making the planning profession more accessible to students who’d never considered the career.

Even as the prospective client base grows more diverse, a majority of advisors remain male, white and over the age of 50.

The BNY Mellon Womenomics Fund, which picks companies that hire and promote women, has beaten the benchmark Topix every year since its inception.

The asset manager and custodial giant found positive correlations in several metrics for companies that focus on inclusion.

Women currently account for just 19% of Morgan Stanley’s managing directors.

Men dominate the largest financial institutions and the situation is even worse at family offices.

Other groups, such as those who used to itemize tax deductions but will now use the high standard deduction, are also advised to check their withholding taxes.

Women have long been under-represented among the brokerage ranks, says Elizabeth McCourt. She offers her insights as we continue the dialogue from our Recruiters Roundtable.

Three African-American industry leaders suggest how to improve diversity and inclusion.

The lawsuit illustrates the persistence of such accusations among the nation’s more than 600,000 securities brokers.

Microsoft and Amazon.com are the fund’s top-two holdings.

The lawsuit accused JPMorgan of sending white advisors to wealthier places while assigning black colleagues to less lucrative branches and denying them opportunities.

The bank said it thoroughly investigates all complaints of impropriety after a report said the company is failing to treat some of its female employees fairly.

Jean McCrave Baxter claims colleagues made sexual jokes and she was denied advancement opportunities afforded to male co-workers.