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Finding A Black Financial Advisor: What You Need to Know


In today’s financial world, there are an array of available advisors to choose from. So how do you go about finding a black financial advisor that is the best match for you? Here’s what you need to know.

Why Does Finding A Black Financial Advisor Matter?

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Having black financial advisors can be of great benefit to black communities. It provides black people with access to appropriate financial advice and guidance. This may not be available through traditional sources. 

Furthermore, black financial advisors are better able to understand the specific needs of black individuals, families, and businesses. This understanding can help them recommend more suitable options for their client’s financial goals and needs. 

Additionally, black financial advisors can be role models for black youth. This will inspire them to become financially independent and secure. This way, black financial advisors can help promote positive economic growth in black communities. 

Above all, increasing the presence of black financial advisors can benefit black families and businesses. It is important that black people are adequately represented in the financial services industry.

Read also: 7 Black Finance Professionals You Should Be Following

 5 Best Personal Finance Books By Black Authors

How to Find A Black Financial Advisor

  1. Research a black financial advisor

Finding a financial advisor that you can trust with your long-term financial goals is an important decision. If you’re specifically looking for a Black financial advisor, it’s essential to consider both the experience and certification of the individual before signing any contracts. 

Researching the advisor’s history and credentials will help ensure that your financial future is in good hands.

  1. Talk to past clients

Make sure you ask for feedback from past clients and look for online reviews as well. Finding an experienced and certified Black financial advisor will pay off in the long run. You will get access to their expertise and reliable advice.

Source: Unsplash
  1. Check out the CFP website

If you’re looking to make long-term investments or get expert advice on retirement planning, seek out a Certified Financial Planner™ professional. This is to ensure that your financial decisions are informed and reliable. 

The CFP Board’s website contains an expansive directory of professionals across the US. These professionals have completed the education and experience requirements to become CFP®.

Find your next black financial advisor by visiting the website of the Association of African American Financial Advisors.

  1. Ask family and friends

When it comes to financial planning, we all need a little bit of help now and then. Whether that’s advice from an expert or just helpful input from those around us, having an outside source can make a world of difference when it comes to making difficult decisions about our finances. 

Ask your family and friends if they know anyone who could offer guidance or assistance; you’d be surprised by how much assistance could come from an outside perspective. Taking the time to identify someone knowledgeable in financial matters can open up countless opportunities for growth and success in the future.

  1.  Meet with several different advisors

It is important that, when making a critical decision, one takes time to gather a variety of opinions from multiple advisors. Engaging with multiple advisors can give you access to different perspectives on your situation, which you can use to make an informed decision aligned with your desired outcome. 

  1. Be sure to ask about their experience working with clients of color

When interviewing a financial advisor, it’s important to inquire about their experience working with clients of color. Ask about any specialized training they have in working with multicultural clients and what specific strategies they use when investing in diverse communities. 

It’s also a good idea to get a sense of the adviser’s overall investment philosophy as well as their approach to portfolio construction.

Now that we know how to find a black financial advisor, let’s look at some of the qualities they should have.

Qualities of A Black Financial Advisor

source: Freepik

Once you have identified a black financial advisor that fits your needs, it’s important to know what to look for in terms of credentials and qualifications. By law, financial advisors need to hold certain certifications or licenses depending on the type of services they offer. 

Depending on their area of expertise, black financial advisors may have one or more of the following credentials or licenses: Certified Financial Planner (CFP), Chartered Financial Analyst (CFA), Chartered Investment Manager (CIM), and Accredited Investment Fiduciary (AIF). 

It is important to look for black financial advisors who have these credentials. They are qualified to provide excellent financial advice since they have been vetted by professional organizations.

In addition to possessing the necessary certifications, black financial advisors should be skilled in their profession and aware of the specific needs of black investors.

It’s also important to consider the black financial advisor’s communication style and client service approach. Choose a black financial advisor who is easy to talk to and understand and who makes you feel comfortable asking questions. 

Additionally, it’s essential to look for black financial advisors who are responsive and willing to answer your questions promptly.

Successful Black Financial Advisors

From managing investments to providing advice on retirement planning, black financial advisors have a long history of excellence.

Here are 5 black financial advisors who have excelled in their field:

source: Freepik

1. Charles Davenport – An investment specialist with over 25 years of experience, Davenport is one of the most respected black financial advisors in the industry. He has led successful investing campaigns for companies such as Procter & Gamble and Target Corporation.

2. Bola Sokunbi – The 2021 recipient of the Financial Education Instructor of the Year (FEIY) Award, is a seasoned black financial advisor. She is also the CEO and founder of Clever Girl Finance. Bola Sokunbi is well known for empowering women and offering financial education. 

3. Malik S. Lee – The founder of Felton & Peel Wealth Management, is an expert financial planner, especially for millennials and retirees. Malik is also an accredited portfolio management planner and a chartered advisor in philanthropy.

4. William JohnsonJohnson is one of the most successful black financial advisors in the industry. He has built a multi-million dollar business over his 25-year career and is regularly sought after for advice.

5. Patrice Washington – She is the founder and chief executive officer of Seek Wisdom, Find Wealth. Patrice has appeared on The Steve Harvey Show several times. She is a financial specialist who educates black women about finance.

Bottom line:

Finding the right black financial advisor can help you gain better insight into your investments, develop a long-term plan for building wealth, and reach your financial goals. Black financial advisors with the correct skills, expertise, and communication style may give black investors the guidance and support they require.

People also read: 9 Best Black Finance Blogs You Have To Follow Now and Forever

Abdul Rashid Sani
Abdul Rashid Sani
Abdul Rashid Sani is a talented and experienced Growth and Content Manager with a passion for writing and building relationships. With a strong background in SEO content writing, paid search and social, and content marketing, he possesses a diverse set of skills that make him an asset to any team. In his free time, Abdul is a huge soccer fan and enjoys writing in his spare time. He is dedicated to continually improving his skills and staying up-to-date with the latest trends and techniques in his field.


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