FARE Releases the Summer 2024 Issue of FARE Forward
We proudly present the Summer 2024 Issue of “FARE Forward,” our industry publication. Read more about FARE’s journey, our members’ achievements, and the groundbreaking work we are doing to increase DEI & belonging within the financial services industry.
Featured Articles
Nicole Ridley , Head of Operations at The Financial Alliance for Racial Equity (FARE), highlights the organization’s commitment to empowering HBCU graduates to excel in the financial services industry. FARE’s initiatives have sparked significant interest among young people, with 60% of surveyed HBCU students expressing interest in financial services careers despite perceived challenges.
Ridley underscores the importance of racial equity in the industry, advocating for increased representation of Black and Brown Certified Financial Planners to address the growing economic impact of the Black community. FARE remains steadfast in promoting diversity and inclusion, fostering innovation, and preparing diverse professionals to lead industry transformation through collaborative efforts.
FARE’s mentorship program, launched last year, has been instrumental in supporting HBCU Students like NaKyla Comer, a recent graduate benefitting from FARE’s HBCU Scholarship. NaKyla has been mentored by Aiyisha Adams, VP of Advisor Engagement at Osaic, leveraging Adams’ 18 years of industry experience to prepare for the Securities Industry Essentials (SIE) exam and kickstart her career.
Mentor-mentee relationships, whether formal or informal, are crucial for career growth, fostering both professional networks and personal connections, as exemplified by NaKyla and Aiyisha’s shared affiliation with Alpha Kappa Alpha Sorority, Inc. Aiyisha emphasizes the importance of diversity in financial professionals, reflecting the communities they serve, to build trust and rapport.
The Collaborative for Equitable Retirement Savings (CFERS), launched in 2023, examines DC retirement savings dynamics and identifies disparities based on race and gender through anonymized plan data and qualitative research. Initial findings from CFERS’ reports highlight significant disparities in account balances attributed to contribution rates, loan behavior, and preretirement withdrawals among Black and Hispanic participants compared to their white counterparts.
The reports suggest that eliminating preretirement withdrawals could substantially reduce these disparities, particularly for early- and mid-career 401(k) participants. CFERS also explores the potential of Secure 2.0’s Saver’s Match provision to mitigate these gaps, particularly benefiting Black women.
Upcoming Events
We cordially invite you to join us for our 4th Annual HBCU Live event, themed “The Future of Finance: Creating Black Wealth,” happening on Wednesday, September 18th at Howard University. This gathering will merge the rich culture of HBCUs with dynamic, educational workshops, creating a transformative experience for attendees.
What can you expect to receive?
Learn about careers in financial services and strategies to enter the industry.
Network with recruiters hiring for 2024-2025 internships and full-time positions in financial services careers at our career fair.
Get your FREE professional LinkedIn headshot and custom FARE swag.
Opportunities to win prizes, including tech and scholarships.
Connect with other HBCU students through interactive games & competitions.
Fall 2024 Issue: Call for Content
Submit Your Accomplishments for the next issue of FARE Forward
Send your thought leadership articles, accomplishments, career transitions, and recognitions to mwilliams@thefare.org with “FARE Forward” in the subject line for consideration.
The submission deadline for the Fall Issue of FARE Forward is Friday, August 16, 2024.
Career & Internship Opportunities
FARE Member Firms have several full-time and part-time positions open. Positions include:
Visit our website to see the complete list of career opportunities!
