10.27.21

Member Voices: The Impact of Diversity, Part 2 – Q&A With Jim Nickens (InSource, Inc.)

by: BISA Staff

While October comes to a close, the importance of Global Diversity Awareness continues on by emphasizing diversity and inclusion (D&I) in the workplace and the importance of creating safe spaces for the wellbeing and productivity of all employees.

We are fortunate to speak with Jim Nickens, chair-elect of the Diversity & Inclusion Committee and member of the Black Voices Unmuted initiative, for our second Q&A honoring Global Diversity Awareness Month. Jim is also the president of InSource, Inc. and has almost 30 years of experience in the financial services industry across the country.

Hear from Jim about his perspective on D&I in the industry and what recommendations he has for leaders and organizations to make an impact:

1. Why is diversity so important in the workplace? What can it do for success in the financial industry?

I am a firm believer that diversity is the starting point of any workplace. Having multiple experiences, viewpoints and strengths are all important ingredients in building a “best of the best” culture. All too often walls are put up or allowed to remain in place that limit the potential candidate pool. Imagine a baseball team that could only draft from the Midwest competing with a team that could draft without restriction. 

In our industry, it is imperative to never lose sight of sustainable profits being directly aligned with the ability to connect with clients on both a financial and human level to provide solutions that have the potential to affect generations.

2. What is one piece of advice that you have for leaders in financial services and insurance to foster an inclusive, diverse work environment?

“Change is inevitable except from a vending machine.” My teams have heard me say this for years and, until proven wrong, I will keep operating with this approach. Change is a fact of life, and even though it can be uncomfortable, it should be embraced and not feared. Innovation does not come from a place of comfort.

3. What do you think is one of the most important actions a company in the financial industry – or in general – can do in the next 12 months to foster a more diverse pipeline of candidates and increase diversity in their workforce altogether? Is there a specific example of a success story to illuminate your recommended action?

This is probably the most difficult question to answer. More HBCU recruiting, engagement with minority advisors’ groups, internal campaigns to sponsor security licensing, junior broker programs… whatever the answer might be, there has to be a commitment to more than a year and understanding diversity is playing the “long game.” I have seen many of these initiatives succeed in my years in the business but have seen the appetite for this type of investment wane over the last decade.   

4. Who or what has inspired you to volunteer for the D&I Committee/Black Voices Unmuted initiative in BISA?

A conversation with Dan Overbey helped me decide that volunteering to join the D&I Committee, which later included working with the Black Voices Unmuted initiative, was the right commitment for me. After close to 30 years in the business and then the summer of 2020, it was not an issue of if I wanted to participate but rather what can we accomplish together to increase the awareness of and broaden the opportunities provided by embracing inclusive business practices.

Final thought:

The commitment to D&I Committee and the Black Voices Unmuted initiative and my engagement in BISA is me paying it forward as a recipient of support from many areas. This constant support allowed me to navigate this industry. Equally, it is my obligation to demonstrate to my daughters that we cannot stop pushing the industry to embrace that diversity is a commitment to have the best discussions, in the best environment, surrounded by the best people – with a passion to deliver the best results.

 

Jim Nickens is president of InSource in Indianapolis, a leading financial solutions partner for banks, broker dealers and financial professionals across the country. Jim has always believed in giving back to the communities in which he resides and is an enthusiastic advocate for the causes where he can help affect change. Currently, he is active on the Banking Insurance & Securities Association (BISA) Diversity Committee and serves on the boards of the Indiana Soccer Foundation, Indiana Soccer Association and The Ronald McDonald House of Indiana Finance Subcommittee.

Most importantly, Jim cherishes his time with his wife and three daughters. Jim is graduate of Amherst College (Amherst, Massachusetts) and holds Series 6, 7, 24, 51, 63 and Life, Accident and Health Insurance licenses.