7 tips to help Black clients find multigenerational success

Financial Planners

Helping clients navigate life events like career changes, starting a family or planning for retirement is a complex, high-stakes situation no matter who you’re working with.

But if your client happens to be one of the countless Black Americans who already feels overlooked or undervalued by the financial services industry, crafting a successful plan can be even more complicated without the right approach.

During the 17th Annual Conference of African American Financial Professionals in Chicago, Black advisors dished out tips for planners working with underserved families in an effort to better equip the industry to serve a populace it has long overlooked.

Organized by The American College of Financial Services, the annual three-day CAAFP gathering had the theme of “reclaiming Black wealth” and attracted nearly 1,000 registrants to the Midwest from Aug. 7 through Aug. 9.

The goal of the event was to reinforce and elevate the conversation around how the financial services industry can inspire Black professionals and promote the advancement of underserved communities. Sessions were split into the categories of retirement, consumer connections, applied knowledge and niche markets. 

The agenda coincided with the core mission of the CAAFP, which is to narrow the wealth gap and create sustainable, generational change.

Scroll down to see what advisors who led conversations at the conference had to say about the special considerations that should be taken when helping Black families pursue their money goals — and why the advice can have a positive impact on your entire book of business.

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