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FSI Partners With a Nonprofit on Diversity & Inclusion

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The Financial Services Institute said Tuesday that it has entered into a strategic partnership with Inroads, a nonprofit organization devoted to advancing the professional success of young people from ethnically diverse backgrounds living in underserved communities.

Dale Brown, FSI’s president and CEO, announced the partnership with Inroads’ president and CEO, Forest Harper, at FSI’s OneVoice conference in Dallas.

“As the advocacy organization for the independent financial services industry, FSI is uniquely positioned to help address the underrepresentation of women and people of color within our space,” Brown said. “With this goal in mind, I look forward to teaming with our partners at Inroads to build the next generation of independent financial advisors and to increase diversity among the ranks of financial services executives.”

During a media roundtable Tuesday morning, Brown added that with its diversity and inclusion initiative and the Inroads partnership, “we have one clear goal at FSI, and that is, we have a great opportunity to increase the number of independent advisors who are people of color and women.”

Inroads will work closely with FSI member firms and sponsors to build a road map that reflects their specific diversity, equity and inclusion (DEI) goals, challenges and opportunities, the two firms said.

That will include creating mentorships that will further the professional development of high school and college students and help to foster more diverse and inclusive work environments, the firms said.

“Inroads has a deep commitment to preparing students for success in the financial services industry. Financial Services Institute is the perfect partner for mobilizing our commitment. Together, we will increase the presence, readiness and visibility of financial advisers of color,” Harper said.

Added Brown: “The issues before us will not be easy to solve, but in the months and years to come, we will work to ensure not only that the industry works better for everyone, but that it is more reflective of society. This mission is crucial to ensuring every investor is able to save for retirement and reach their financial goals.”