The AAAA Foundation - the organization being supported by Carson Group - said current social events have put a sharp focus on persistent wealth gaps and shortage of financial planner representation among African Americans.
US-based Carson Group has teamed up with AAAA Foundation to support initiatives at historically black colleges and universities (HBCUs) to help more African American students forge financial planning careers.
Carson Group will donate $500,000 to the foundation, which concentrates on cultivating the next generation of African American financial planners and carries out research shifting the understanding and advancement of financial planning in African American communities.
The foundation supports HBCU programs such as educational events, curricula, and career guidance.
“Current social events have vaulted issues such as persistent wealth gaps and the shortage of financial planner representation among African-Americans. Institutional issues require institutional resources and partnerships that effectively align with diversity, equity, and inclusion expertise,” AAAA Foundation treasurer and founder and president of concurrent financial planning, Dr Preston D Cherry, said.
“Over the past few weeks I have been buoyed by the meaningful conversations happening within our industry and amongst our team at Carson to ask questions, listen intently and advance diversity in our firm and in our communities,” Ron Carson, founder and CEO of Carson Group, said.
Jamie Hopkins, managing director of Carson Coaching, a nationwide coaching program for financial advisors, said: “The diversity gap in our industry is unacceptable. We believe that there is no better time than now to push our industry forward through meaningful action. As a firm, we know this is not the end but a step in the right direction and will continue to improve and support additional initiatives designed to increase equality both internal and external to our firm.”