According to a Raymond James executive.
“The main thing for us is to create an environment where people feel like it’s a company where they’re welcome, and the financial industry hasn’t always been so [welcoming]”, Tony Barrettea director of the Delaware Valley Complex and co-founder of the Black Financial Advisors Network at Raymond James, said at a press conference on Wednesday.
“Through our collective voice, if we can talk about things that are barriers to entry into the business, ensuring that things like our marketing are multicultural, if we can culturally recognize events, holidays and things like that,” he added during the briefing. on the sidelines of Raymond James’ annual BFAN symposium. “[I]If there is no diversity in the room, these things are not discussed.
The creation of BFAN was partly a response to the lack of inclusiveness in marketing materials, according to Barrett. The BFAN held its first meeting in 2015, according to the Raymond James website.
“A colleague of mine called me nine years ago, it was February, Black History Month, and he said, ‘I’m looking for some marketing material to send to clients about the Black History Month, I can’t find it.’ I was sure he was just looking in the wrong place. I looked around and called some marketing people and they said, ‘We don’t have that,'” Barrett said.
According to Barrett, the lack of relevant documents was due in part to the lack of diverse people in the company.
“It can be interpreted … by people on the outside looking inside [as]’They don’t care, it doesn’t matter’ and then all of a sudden you’ve excluded a population of people who think you don’t think they’re important,” he said. declared.
According to Barrett, it’s important to be inclusive in marketing materials because recruiting from the current talent pool isn’t enough to improve diversity in the industry.
“The industry as a whole is not very diverse, so simply recruiting consultants from the competition is not a solution. I strongly believe that we’re going to be a better home for some of them, but even if we were to hire all the advisors there, that barely moves the needle and it doesn’t really make the industry any more welcoming to people,” he said.
Raymond James Chief Executive Officer and President Paul Reilly made similar comments last month during a press conference at the company’s Elevate conference.
“We’ve found that when recruiting, there just aren’t enough people to make a difference and frankly if you’re trying to make a societal difference, flying from company to company doesn’t make a difference. – a company’s stats go down by one, yours go up by one, that’s not the point,” Reilly said at the time.
“The goal is really to make a difference in society, and you really need to help develop, nurture, nurture and train that talent,” he added.
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