In Practice February 1, 2022

FSI Partners With INROADS on Diversity and Inclusion Initiative

The two organizations will partner with FSI member firms to create mentorship opportunities and career pathways for young people in underserved communities.

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The Financial Services Institute (FSI), the advocacy organization for the independent financial services industry, has announced a strategic partnership with INROADS, a nonprofit organization devoted to advancing the professional success of young people from ethnically diverse backgrounds living in underserved communities.

FSI President and CEO Dale Brown announced the partnership at a conference event in Dallas, where he was joined by INROADS President and CEO Forest T. Harper Jr. The two say the alliance between FSI and INROADS is in keeping with FSI’s ongoing diversity and inclusion initiative, an effort aimed at increasing industry representation among women and people of color. They say providing opportunities for FSI members to collaborate with other organizations is an integral part of the initiative.

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“As the advocacy organization for the independent financial services industry, FSI is uniquely positioned to help address the underrepresentation of women and people of color within our space,” Brown says. “With this goal in mind, I look forward to teaming with our partners at INROADS to build the next generation of independent financial advisers and to increase diversity among the ranks of financial services executives.”

Through the partnership, INROADS will work closely with FSI member firms and sponsors to build a road map that reflects their specific diversity, equity and inclusion (DE&I) goals—as well as their unique challenges and opportunities. As part of that, INROADS will look to create mentorship opportunities that will further the professional development of high school and college students and help to foster more diverse and inclusive work environments.

According to Brown and Harper, this hands-on, holistic approach allows for coordination with a firm’s existing DE&I programs and acknowledges that one-size-fits-all solutions do not adequately address each firm’s needs. 

“INROADS has a deep commitment to preparing students for success in the financial services industry,” Harper adds. “Together, we will increase the presence, readiness and visibility of financial advisers of color.”

“The issues before us will not be easy to solve, but in the months and years to come, we will work to ensure not only that the industry works better for everyone, but that it is more reflective of society,” Brown says. “This mission is crucial to ensuring every investor is able to save for retirement and reach their financial goals.”

Products February 1, 2022

AssetMark Launches Digital Prospecting Capability for Advisers

The new tool makes it easier for advisers to reach prospective clients and gain insight into their needs, preferences and interests.

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AssetMark, a provider of wealth management and technology solutions for financial advisors, has announced the launch of WealthBuilder Prospecting, a new tool designed to streamline prospecting for financial advisers and provide them with insights to drive lead conversion.

In about 20 minutes, WealthBuilder Prospecting enables advisers to generate a unique link to use on their websites, in emails or social posts, or in online advertising. The link is a gateway for interested leads to start a low-friction discovery process. This helps to convey where prospective clients are at in their financial journey, giving advisers an advanced look at their needs, preferences and interests.

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Prospects then have the option to engage directly with advisers, who also receive an alert whenever someone completes the process—a great indicator that a lead is open to learning more. Advisers also are equipped with a dashboard that can help them organize their lead-to-prospect pipeline and keep track of the status of various engagements.

“Common prospecting methods such as cold calling, advertising or seminars often require a large investment of time and money, with no guarantee of success,” says Michael Raneri, AssetMark chief digital innovation officer. “WealthBuilder Prospecting allows advisers to invite leads into the planning process and effectively ‘kick-start’ a warm client engagement process, in a time-efficient way that increases the chance of earning new business. We are pleased to provide advisers with another digital tool to help them build their businesses and drive client satisfaction.”

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