April 2021 Issue: Recruiting Diverse Students and New Planners to Fee-Only Financial Planning-Recruiting Diverse Students and New Planners to Fee-Only Financial Planning by Nikki Palluzzi

Recruiting Diverse Students and New Planners to Fee-Only Financial Planning by Nikki Palluzzi

Pdf Summary

NAPFA is committed to promoting diversity, equity, and inclusion in the financial planning profession. To achieve this, they believe it is crucial to start the process at the university level. University financial planning program directors have shared their insights on recruiting diverse students into financial planning programs. They believe that many students and their families are not aware of the profession, so it is important for schools to reach out and inform them about the opportunities available in financial planning. Reaching out to undecided majors and visiting classes on campus are effective ways to recruit students.<br /><br />Once diverse students graduate and enter the job market, it is essential for firms to recruit and support them. Firms should broaden their recruiting process and consider reaching out to historically Black colleges and universities and other universities with diverse student populations. Hiring interns can also provide an opportunity to engage with young professionals who bring new perspectives and skills to the firm.<br /><br />However, simply hiring diverse professionals is not enough. Firms need to provide the necessary tools and resources for these individuals to thrive and create an inclusive environment where they feel supported and belong. Dan Grafstein emphasizes that true inclusion requires authentically welcoming diverse demographics, while Nandita Das highlights the importance of allowing diverse employees to capitalize on their knowledge and skills.<br /><br />The demographic landscape of the country is rapidly changing, and firms need to see it as an opportunity to increase cultural competencies and bring varied experiences and perspectives to the workplace. Having more diversity within teams leads to a more successful firm that can effectively serve the diverse market that exists in the country.<br /><br />For more information on promoting diversity, visit NAPFA's D+I Initiative website, where you can find videos and a resource guide on how to diversify the financial planning profession.

Keywords

NAPFA

diversity

equity

inclusion

financial planning profession

recruiting diverse students

opportunities in financial planning

hiring interns

inclusive environment

diverse market