I have heard advisors say it so many times that I take it as true: Advisors in general want the dream client, one with seven figures of investable assets and a healthy income
Historically, that wouldn’t describe average members of the African-American community. But Gary Rozier, senior vice president of institutional marketing and client services at Chicago-based Ariel Investments (with whom I had spoken to for my first post on the African-American advisor community), says that things have been changing. Yes, there are artistes, rappers, sports pros with big bucks, but there are also more and more professionals like Rozier himself, and within the community at large, incomes have been rising for a greater number of African-Americans.
“There’s always been a misconception in our community that you need a lot of money to invest,” Rozier says,” but you have now a proliferation of different products that are affordable; at Ariel, you can buy a mutual fund for as cheap as $50 or $25 a month.”