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Financial services Firms: How are they expanding their talent pools?

The Financial Alliance for Racial Equity was established two years ago to make the financial services sector more inclusive, fair, and accessible to people of all backgrounds. In September 2020, the Financial Alliance for Racial Equity (FARE) was founded by a coalition of prominent businesses in the financial sector, trade groups, and HBCUs.

FARE envisions a changed financial services business that better supports diverse employees and communities—current and future generations—through tangible and quantifiable solutions.

FARE and HBCU Connect recently hosted an event titled Finding Your Fit in Financial Services: Learn, Connect, Network to move closer to fulfilling this purpose.

Students from eight HBCUs attended the first-ever hybrid in-person/virtual FARE event. Students were exposed to various financial industry professionals, including executives from Advisor Group, NFP, Franklin Templeton, RBC, Swiss Re, and Nationwide, and young professionals from the American College of Financial Services, HBCU Connect, and the industry at large.

The popular podcast hosts and social media hit Earn Your Leisure, Rashad Bilal and Troy Millings, were on hand to share their motivational message of financial health and independence with the audience.

In addition to gaining insight into how to pass on wealth from generation to generation, guests were treated to complimentary professional headshots. They received feedback on improving their resumes and online profiles through LinkedIn. FARE member companies collected over 700 resumes from students and young professionals and conducted 36 interviews for open positions and internships.

This event was particularly historic since it was the first in-person gathering targeted at increasing financial literacy and widening access in communities of color.

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