FARE helps Black financial professionals thrive

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Key Takeaways

  • Underrepresentation of minority financial professionals has long been a challenge in the industry. To advance actionable solutions and contribute to lasting change, Nationwide partnered in September 2020 with leading financial services organizations, associations and historically Black colleges and universities (HBCUs) to form The Financial Alliance for Racial Equity℠, or FARE.
  • FARE was formed with the mission to increase racial diversity, drive greater equity and foster inclusion within the financial services industry and the communities we serve.
  • According to a Nationwide Retirement Institute® Diverse Markets White Paper, decades of research show that Black consumers tend to express higher levels of generalized distrust than whites. This can potentially be explained by a long history of racist, systemic practices — redlining, devaluation of property, school segregation, inequity in law enforcement — that disproportionately affects the Black population. FARE seeks to increase the number of Black financial professionals through expanded research, increased training, and mentorship opportunities at both the university and professional level.

 

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