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How an RIA's tweets pointed out the obvious--the lack of diversity in the mostly white RIA industry-- and opened the door to a dialogue on creating more minority opportunity

Patrick Ortman, a solo RIA who grew up among Black siblings, set out to congratulate RIA firms with diverse staffs, but a simple search found just the opposite.

Thursday, June 25, 2020 – 1:51 AM by By Lisa Shidler
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Advisor Patrick Ortman broke the silence about lack of black advisors in financial services

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A $4.4-billion RIA in LA made a very 2021 decision to name two women, both 37, co-CEO for a very old-fashioned reason-- accelerated growth--following previous gender diversity moves

Abacus Wealth Partners has quadrupled its assets under management in six years in tangible correlation to its progressive hiring strategy

November 27, 2021 – 12:57 AM

Second Betterment exec departs as new CEO Sarah Levy orients to her first month on the job and is confronted by personnel matters

Chief operating officer Dustin Lucien is the latest to leave the New York City robo-advisor, one of at least eight positions open as it prepares a push across multiple business lines to ignite growth.

January 19, 2021 – 6:32 PM

Jon Stein ousts himself as Betterment CEO and taps Sarah Levy, who joins an exclusive club of top women executives, with a mission -- an IPO

The co-founder of the New York robo-advisor headhunted the ex-Viacom brass through Harvard professors on the down low to ostensibly scale operations.

December 8, 2020 – 5:27 PM


Mentioned in this article:

Betterment, LLC
Financial Planning Software
Top Executive: Jon Stein




Dana Grigg

Dana Grigg

July 2, 2020 — 6:04 PM
Speaking as one of the few African American owners of an RIA firm, I have noticed this issue during my past 18 years I have been in the business. I think there are simple and complex reasons for this amazing lack of Black advisors. Some of it has to do with the fact that most of us came from banks or brokerage firms which have been indifferent at best but normally hostile towards efforts to widen their nets. So sourcing is an issue. We could source ourselves but that doesn't happen because of the many psychological and social problems plaguing America and the RIA Biz that have led to this sad but predictable outcome.
Dana Grigg

Dana Grigg

July 2, 2020 — 6:05 PM
My firm is called Camelotta Advisors.

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