AchieveNEXT and Kaplan Partners Announce Wealth & Asset Management Industry Diversity, Equity and Inclusion Outlook Briefing

Philadelphia, PA — August 12, 2021 — AchieveNEXT, the leading provider of Peer Advisory Networks and Talent Performance Solutions for mid-market leaders, has released its Wealth & Asset Management Industry DEI Outlook Briefing. The Report reveals a large gap between leaders’ perception of their own progress on issues of diversity, equity, and inclusion and actual level of performance in the industry.

The report was produced using data captured from sixty top Wealth and Asset Management firm executives. The report features contributions from industry leaders, including: Alan J. Kaplan, Founder & CEO of Kaplan Partners; Craig Pfeiffer, the President & CEO of Money Management Institute (MMI); Cheryl Nash, CEO, Financial Supermarkets Division of InvestCloud; and Lori Hardwick, Strategic Advisory Board Member, Genstar Capital.

The report highlights industry sentiment and the steps that industry leaders are taking in their enterprises to create a more supportive, inclusive, and engaged workplace for their diverse employees. Key findings of the report:

* A large majority say their firms ensure that all employees feel included and supported.

* However, industry data show that female and minority employees are significantly under-represented in the top ranks.

* Executives view DE&I almost entirely as a human resources issue and do not yet see a connection with client service or business performance.

DE&I is an important element of broad efforts to improve the wealth management industry’s performance on overall issues of environmental, social, and governance issues. “The tide is rapidly shifting in asset management. The focus on ESG and specifically DE&I has pushed the industry to address the expectations of investors and clients. Progress is being made, but as noted in the report, much more work lies ahead,” offers Alan J. Kaplan of Kaplan Partners.

“MMI is proud to support AchieveNEXT’s efforts to raise awareness with facts and identify the real gaps that exist beyond perceptions. Many genuine efforts have been launched across the industry, and it is, as always, important for leaders to know where their followers are and to continue to evolve approaches,” says Craig Pfeiffer.

The report also outlines a three-step process for advancing DE&I initiatives throughout the employee lifecycle, beginning with an assessment of the current state, followed by analysis and creation of a strategic roadmap applied to talent acquisition, talent development, leadership development, and succession planning.

“By understanding their current baseline, enterprise leaders can set more defined and financially focused strategies that will link investments in DE&I to their business strategy,” says co-author Robyn Pollack. Download the Briefing HERE.

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