Quad-A urges Black women advisors to speak up

The Association of African American Financial Advisors held its third annual Women’s Impact Initiative Network Conference in Chicago this week, drawing a record audience of more than 300 advisors and wealth management professionals.

Keynote speaker Minda Harts recalled a childhood effort to learn horseback riding that involved calling dozens of stables and trading labor for lessons. She used the story to urge attendees to reclaim confidence after experiences that can silence women in male-dominated workplaces, adding, “self-trust is so important.”

Speakers and panels focused on self-advocacy, mentoring and using professional influence to affect client outcomes and public policy. Conference presenters highlighted industry representation gaps: about 2% of certified financial planners are Black, and fewer than one in four CFPs are women.

Quad-A chief executive Sheena Gray announced three full scholarships for undergraduate students to study for and sit for the CFP exam. Gray also named two new board members, Marie Taylor of Edward Jones and Libet Anderson of Cetera Wealth Partners. The organization marked its 25th anniversary since being founded by planner LeCount Davis.

Sampurna Khasnabis, a senior equity analyst at Nia Impact Capital, framed capital allocation as a form of policy advocacy, urging advisors and other allocators to direct funds toward managers and companies that reflect the economy they want to support. She said, “every dollar that you move in one direction or the other is an indication of the kind of world you want to see.”

Molly McCormack, a managing director at TIAA, cited data showing 59 million Americans lack access to a workplace retirement plan and advocated for measures including a universal IRA, automatic enrollment and employer attention to lifetime income.

Planner Njideka Obijiaku described moving from a broker-dealer to an independent registered investment adviser as a way to choose the clients her firm serves without outside constraints. Panelists encouraged attendees to mentor younger advisors and consider firm structures that allow different client approaches.

Giofenley Presinal, Quad-A’s chief executive assistant and a panel moderator, urged collaboration across firms and disciplines and called for resource sharing. “We need to make sure that we spread the wealth,” she said.

The event included sponsorship from large firms across the industry, and organizers said Quad-A will continue work to increase the number of Black professionals in wealth management, lobby on policy issues that affect advisors and create pathways for students to enter the field.