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The Financial Industry Doesn't Want You to Know About Its Lack of Diversity


Business  (tags: financial industry, diversity, hiring, society, business, corruption, usa, news )

Cal
- 183 days ago - motherjones.com
Financial institutions fight a new rule that would have them assess employee diversity.



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Comments

Alan Lambert (93)
Monday March 24, 2014, 3:47 am
I know that they consider anyone who isn't white to be a token and give their tokens only the low end accounts.
 

Past Member (0)
Monday March 24, 2014, 4:22 am
Noted, ty Cal.
 

John S. (304)
Monday March 24, 2014, 4:47 am
It should just be a business decision - why not just tell them that about 9 million women are single and have more than $100,000 in investible assets, and the number of them who will want to work with a financial adviser is expected to increase about 60% by 2015, according to Information Asset Partners.

In addition, $14 trillion in personal wealth assets are controlled by women. That figure is expected to get to $22 trillion by 2020. And 95% of women will be their family’s primary financial decision maker at some point in their lives.

What these numbers tell the financial industry is simple: You need a heck of a lot more female financial advisors, brokers and executives.
 

Robert O. (12)
Monday March 24, 2014, 8:27 am
They think we don't realize this, but we actually know more than they think we do or want us to. It's sickening and we need to work to tear down these good 'ol boy institutions brick by brick and change them to reflect the diversity of the nation and the people they're supposed to be working for. Thanks Cal.
 

Joanne Dixon (38)
Monday March 24, 2014, 1:16 pm
Even being female, I have no trouble grasping the big banks mindset as regards brown and black people. When I see a petition I need to sign to get them to back off from foreclosing on someone disabled who has been paying in good faith since forever, it seems it's always someone EXACTLY like ne except for skin color. Yet they are SO NICE to me. Well, due to my age, skin color and neighborhood they probably think I am at least Republican if not Tea Party. If only they knew. Maybe just as well they don't.
 

Kamia T. (67)
Monday March 24, 2014, 3:49 pm
The reason John is, unfortunately, just as in the commercial real estate industry, even those people who COULD use the clout of their investments and accounts to push for diversity -- demanding something other than a WASP team, DON'T. The entire atmosphere if you are female or of color is toxic, and even those I've know who have entered the financial industry either get out as soon as they can, or feel forced to open their own firms to quit being harassed.
 

Debbie S. (33)
Monday March 24, 2014, 5:51 pm
Love Robert O.'s comment. Well said
 

Leanne B. (27)
Monday March 24, 2014, 6:37 pm
Well we do know. Thanks Cal.
 

Birgit W. (144)
Tuesday March 25, 2014, 3:10 pm
Robert O. says it all, thank you.
 

Nancy C. (798)
Wednesday March 26, 2014, 6:05 am
Particularly interesting are the lobbying groups (Financial Services Roundtable, American Bankers Association, Consumer Bankers Association, and the Independent Community Bankers of America) threatening the government! Status Quo I suppose! Hope everyone is leaving these thieves and using credit unions or a shoe box!!! I'm so tired of the reality obstruction, the greedy power holds and the ensuing, looming downfall of our planet. Living for the moment works when you live for the greater (whole) good. Living for yourself is OVER...
 

Winn Adams (192)
Wednesday March 26, 2014, 7:25 am
Robert O, Nancy C and Kamia said it all for me. Thanks for your comments.
 

Michael Kirkby (85)
Wednesday March 26, 2014, 9:52 am
Noted & posted
 

S J. (116)
Wednesday March 26, 2014, 4:28 pm
Monopoly doesn't get along with diversity, unfortunately. Tackle them down!!!

Thanks Cal
 

Mitchell D. (131)
Wednesday March 26, 2014, 6:58 pm
Kamia's point is well taken.
Otherwise, my response to the title of the posting is "No shit, Ssherlock!"
Thanks, Cal.
 

A F. (132)
Wednesday March 26, 2014, 8:35 pm
thank you
 

Dan Nickerson (178)
Wednesday March 26, 2014, 11:08 pm
I think I am not alone in believing that most educated (?) people know about the lack of diversity in the financial industry.
 

Roger Garin-michaud (62)
Friday March 28, 2014, 1:51 pm
noted, thanks
 

Terry H. (6)
Saturday March 29, 2014, 3:34 am
Disheartened but not surprised by this...
 

Rebecca Valone (1)
Saturday March 29, 2014, 1:24 pm
So not surprised, will there ever be an end to " the good ole boys network ?"
 

Dandelion G. (382)
Saturday March 29, 2014, 2:11 pm
Just like in the Plantation days, the white men ruling over everyone else.
 

Donn M. (1)
Saturday March 29, 2014, 9:28 pm
The government should just butt out and mind its own business.
 

Marija Mohoric (50)
Sunday March 30, 2014, 2:34 am
No surprise, tks Cal
 

Winn Adams (192)
Monday March 31, 2014, 7:07 am
No surprise here
 

Mary Donnelly (47)
Monday March 31, 2014, 4:42 pm
I agree with Robert O.
 

Betty Kelly (2)
Monday March 31, 2014, 6:00 pm
Lack of diversity may be a reason why our financial insitutions seam to be more enterested in their finances than their customers.
 

Ingo Schreiner (8)
Tuesday April 1, 2014, 3:23 am
noted
 

Luis Gerardo (12)
Tuesday April 1, 2014, 12:21 pm
Ok
 
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