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Life Health > Running Your Business

3 Tips for Connecting With Hispanic Investors

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What You Need to Know

  • By 2050, more than one-quarter of the U.S. population could be Hispanic.
  • Fewer than half of Hispanic investors have advisors.
  • Their average life expectancy is longer than the U.S. average.

Fostering a sense of belonging for individuals from all backgrounds is important, and it’s something financial professionals looking to grow their client base should think about.

At all times of the year – but especially with Hispanic Heritage Month beginning Sept. 15 – advisors should focus on connecting with Hispanic clients to help them achieve their retirement goals.

Serving the Hispanic community well is more than just the right thing to do: It’s also an opportunity for advisors to build their business. By 2050, the Hispanic community will make up more than a quarter of the U.S. population, according to Pew Research Center projections.

Nationwide’s 2024 Advisor Authority study found that 59% of Hispanic investors have no advisors.

Here are three ways you can meet those investors’ needs.

1. Educate yourself (and your clients).

Learn about the historical and cultural factors influencing your Hispanic clients’ financial decisions.

Explore family history and saving habits in early conversations. Focus on addressing needs rather than promoting products

Nationwide, for example, offers continuing education courses and more support through our  Diverse Markets Program.

2. Provide tailored financial planning.

To establish and build a relationship, it’s important to recognize the goals and challenges of any clients, including Hispanic clients.

For example, according to a survey from T. Rowe Price, 37% of Hispanic and Latino investors began investing after starting a family.

Hispanic clients born in other countries may prioritize sending money to family members in their native countries. Mexico’s central bank said money Mexican immigrants sent to relatives increased by 7.6% in 2023, to $63.3 billion for the year.

Consider talking to clients about using a bucket strategy to help achieve their financial goals for helping their children and other relatives.

And remember to talk about retirement income planning and longevity risk.

The average life expectancy at birth is 80.0 years for Hispanics, versus 77.5 for the general U.S. population, according to the Centers for Disease Control and Prevention (CDC).

By considering factors like life expectancy, you can help clients determine the right time to claim their Social Security benefits and maximize the benefits.

3. Ensure visibility and representation.

Financial professionals can help their firms serve Hispanic clients better by championing hiring strategies that promote diversity, ensuring that Hispanic clients see themselves represented within your firm.

You can also offer your guidance as a mentor, which I believe is crucial to expanding diversity in the financial services industry.

To overcome any language barriers, advisors can offer services and materials in Spanish and employ bilingual staff.

Making the effort is worth it. You can’t afford to miss out on opportunities with this important client group.

When you establish yourself as a partner who can meet Hispanic clients where they are, you’ll grow your practice while helping your new clients build a brighter financial future.

Juan José Perez. Credit: NationwideJuan José Perez is president of Nationwide Corporate Solutions. He serves on the advisory board of the Ohio State University Latino and Latin American Space for Enrichment and Research mentoring program.


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