Since 1948, financial society never accepted minorities as having credible financial assets to be worthy of wealth management. This was due to the political and social exclusion that persisted during the 1950's. This exclusion carried through to 70 years later, where the financial separation became more and more apparent. The BAME communities never really had an opportunity to create a foothold within high finance, and thus was always deemed financially unattractive. This also translated into socioeconomics where, because of lack of ethnic representation, the narrative was always one sided and never portrayed an environment that could appeal to aspiring youth looking for careers in finance, or participating in financial activities.
INCUMBENTS LACK INCLUSION.
The investment management community is not diverse, therefore it fails to recognise value in cultures that create innovation and thus earnings for companies who invest in diversity. We are ahead of the diversity curve in everything, therefore we have a significant advantage over the incumbent market.
The notion of ‘Diversity’ has most commonly been associated with sustainability, but this current revolution goes way beyond that single, albeit very important, issue. Our current economic, social and governance models have to change in the face of a growing and multicultural global population. Political and social unrest, scarcity of inclusion among leading institutions and rising inequality. We must therefore fundamentally rethink established norms in areas including technology, finance, law, politics, education, entrepreneurship and infrastructure.
No country, sector, company, or asset class will go untouched