As a company, we believe that diversity will be a key component of how we innovate and evolve. Bringing diverse viewpoints and perspectives to the table drives creative thought, critical problem solving, and innovation. Gartner research revealed that a highly diverse environment can improve team performance by up to 30%. According to McKinsey & Company, diversity can lead to better decision-making and higher profitability. Harvard Business Review also reported that companies with above-average total diversity had both higher innovation revenues and higher EBIT margins, on average. Their research showed that diversity had statistically significant correlations with innovation, and innovation is how we’ll meet our clients’ needs in the future.

Access to educational opportunities and training is a big part of supporting diversity. That’s why Envestnet is sponsoring Broadridge’s AIF Designation Training for 100 individuals in underrepresented populations, including women and people of color. The program will be offered at no cost to the participants. Participants will be identified with the help of Choir, a diversity-tech platform that aims to lift the voices of the underrepresented in the financial services industry.

AIF Designation Training provides those responsible for managing, or advising on, investor assets with a fundamental understanding of the principles of fiduciary duty, the standards of conduct for acting as a fiduciary, and a process for carrying out fiduciary responsibility. Fi360 is accredited by ANSI National Accreditation Board under international standard 17024 for the AIF Designation.

This program has great potential to extend the reach of valuable training for deserving individuals. It is our belief that programs like this will help to increase diversity in our industry, which will be a critical component of how financial services evolve into the future.

Diversity is critical to the future of financial professions

According to U.S. Census data, roughly 13% of Americans identify as Black and 18% as Hispanic or Latinx. In recent years, the financial services industry has not kept up with those percentages. Less than one fourth of the certified financial planners in the United States are Black or Hispanic.1 It is also true that women, particularly women of color, are underrepresented in financial services roles above entry level positions.2

These statistics matter because the financial industry as a whole is evolving and growing to include all kinds of investors from different backgrounds. Financial conversations and decisions can be emotional, and it is important that clients feel understood and can identify with their advisor. They want a deeper, personalized relationship with the financial professionals they work with. This relationship can help better facilitate the steps that clients need to take in order to lead a more Intelligent Financial Life.

How to apply for the program

We are looking forward to congratulating the scholarship winners on a job well done and we can’t wait to see what all they accomplish. To be eligible for selection candidates should:


The information, analysis and opinions expressed herein are for informational purposes only and do not necessarily reflect the views of Envestnet. These views reflect the judgment of the author as of the date of writing and are subject to change at any time without notice. Nothing contained in this piece is intended to constitute legal, tax, accounting, securities, or investment advice, nor an opinion regarding the appropriateness of any investment, nor a solicitation of any type.
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