CFFP #03 - Creative Ways to Address the Lack of Color in Financial Services ft. Bob Veres

Today we have Bob Veres. Bob is editor and publisher of the Inside Information guide to trends and innovations in the financial planning profession, author of The New Profession, and for 20 years was a contributing editor and columnist for Financial Planning magazine. He is also an award-winning journalist, including the Jesse H. Neal Award from the American Business Media. 

 

Today’s topic of conversation is a big one. It’s about a tender topic...race.  The discussion has begun and won’t finish with this podcast.  We will get Bob’s perspective on the persistence of the lack of diversity and inclusion in this industry for so long.  

 

Bob also discusses the future of the advisor/client relationship in the future, the wealth gap that exists in our society, and ways it can be narrowed and/or eliminated altogether. 

 

Show Highlights: 

• Bob’s thoughts on the industry mainly being skewed towards a certain demographic and why it is such an issue not only for the provider of the financial services but particularly the consumer financial services (03:43). 
• Why is there still such a divide and discomfort level in 2020 within the industry? (06:23)
• Bob’s recommendation for solutions to fix the wealth gap with financial planning; how underserved communities can access financial planning at scale. (11:36)
• Bob’s idea of a department for financial planning at HBCUs. (13:03)
• Bob’s advice and recommendations on what services advisors should be offering and the future of the industry (15:33) 
• Bob’s thoughts on the brokerage/wirehouse model. (20:31)
• Rapidly evolving brokerage firms and the evolution of the financial industry (21:09) 
• Enjoying your investments along your journey (22:40) 
• Bob’s words of wisdom for the next generation of financial professionals (32:30) 

 

Resources:

Read the blog.

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