The Importance of African American Wealth Management Advisers

Manhattan West Asset Management is one of the most diverse funds in the wealth management sector, existing in a world that is overwhelmingly white and male-dominated. The firm is made up of high character, highly-educated financial advisers with incredible backgrounds that previously reflect leadership roles at Morgan Stanley and JP Morgan among others. It currently has four African American employees, three of which are executive directors, two Latino American partners, and seven women who also hold an ownership stake in the company.

Although extremely impressive, this is not the norm. Stats that include this type of makeup are extremely low. According to the Center for Financial Planning Board  (CFP), less than 3.5% of all the 80,000 certified financial planners in the United…

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