AKRON, Ohio — Event organizers with the University of Akron's College of Business are not only trying to attract workers to the finance industry, but they're reaching out especially to women and people with diverse backgrounds.
Carina Diamond is the chief experience officer for Dakota Wealth Management. She is a part of the 25% of women in financial planning careers but the shortage doesn't stop there.
“There’s even fewer, you know, people of color or, you know, gay or, you know, different backgrounds, that kind of thing,” said Diamond.
Because for years a financial advising demographic lacking diversity was the norm.
“I think we see a lack of diversity at this point in the industry because it has traditionally been a white male role to manage kind of lead the household finances,” said Dr. Barry Mulholland, director of the financial planning program at the University of Akron.
Right now, the industry is at a tipping point.
“We are clearly seeing that that financial literacy is lacking,” said Mulholland.
Due to the fact that more people need financial advice, but they don't have the hands to meet that demand. The University of Akron is holding a Diversitas Financial Planning Symposium, virtual and in-person.
“We’re going to do some live local sessions. In particular, we're going to have a really fun session talking about financial literacy and engaging our students with the professionals in the room,” said Mulholland.
Those interested in the financial wealth management field should remember that you don’t have to be good at math, sales or even have a college degree in finance.
“We encourage career influencers. And that's again, teachers, guidance counselors, principals. It could be career outplacement professionals that need to understand that there's still a great opportunity for people changing careers to come into this industry,” said Mulholland.
Especially encouraging women and people of all backgrounds, to help bring financial aid to diverse communities.
“I think in general; you know, certain ethnic backgrounds may prefer an adviser with their ethnicity that can really understand their value system and how they make decisions, things like that,” said Diamond.
The financial planning symposium is free to attend and will be taking place Wednesday, Nov. 3 from noon to 3 p.m. both virtually and in-person on the University of Akron’s campus. But you do need to register online in advance. Click here to register.
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