Around the Table Episode 4: Growing a Diverse Team and Practice
To grow a diverse financial planning team and practice, financial advisors should keep one important word in mind: empathy. It can help advisors connect with prospective clients and employees from diverse backgrounds. And, numerous studies show that increasing empathy can lead to a more successful business.
With the United States becoming more racially and ethnically diverse, success as a financial advisor requires embracing diversity and inclusion. In this episode of “Around the Table,” LPL leaders and advisors discuss some of the ways to make that happen.
Each niche market has its own specific needs and cultural nuances. At the end of the day, however, people from all backgrounds and perspectives want the same things. That includes better lives for themselves and their children.
Understanding that common desire — and employing empathy — is something that can help advisors and clients from diverse backgrounds connect. It can also help establish a level of trust, making the personal, often uncomfortable discussions about finances more comfortable.
Watch the complete episode to learn more about employing empathy and embracing diversity and inclusion to reach clients — and recruit other advisors — from a wider range of backgrounds and communities.
You can also watch the entire "Around the Table: Diversity and Inclusion" video series and learn more about what we’re doing at LPL to create a more diverse, inclusive culture