When it was first set up 11 years ago, the New America Alliance (NAA) embarked on a course to identify issues pertaining to the Latino community that few, according to its CEO Maria del Pilar Avila, thought about seriously at the time.
The NAA was founded by influential Latinos like Henry Cisneros, former HUD secretary, and Roel Campos, former SEC Commissioner. Its membership is open to non-Latinos as well.
One of the most important items on the NAA’s agenda was addressing the lack of Latino participation in the financial services industry. While many financial firms might have had an interest in tapping into the Hispanic population, few actually knew that there were pockets of deep wealth among the masses. These highly successful people had accomplished great things and if represented in the right way, they could do their bit to further wealth building and increase the financial inclusion of a population that’s become the fastest growing minority in the United States.
“Our efforts have led us to work directly with legislators to provide them the proper tools to influence and re-direct programs that control the flow of capital back into the Latino community and to ensure an inclusive financial services industry,” Avila says.
In Washington on Nov. 17 and 18, the NAA will kick off its 10th Annual Latino Economic Summit, focusing on Latino economic advancement, access to capital and political empowerment. The event will be attended by a large number of highly prominent Hispanic and non-Hispanic businessmen and politicians.