Staffing & Culture | 09.20.23

Advisors Make Progress With Diverse Investors

by: Holly Deaton

After falling last year, the number of Black and Hispanic Americans working with financial advisors has risen this year, according to a new report by Allianz Life. Allianz found that the number of Black Americans who have a personal financial advisor rose from 24% in 2022 to 36% in 2023, while the number of Hispanic Americans who have a personal financial advisor rose from 35% in 2022 to 42% in 2023. “It’s great to see an increase in diverse populations working with financial professionals and gaining confidence,” Travis Walker, business solutions and diversity consultant at Allianz Life, said. “But clearly the industry has more work to do. We have to really listen to what our clients and potential clients are telling us about what they want and don’t want in a financial professional.”

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