Brian Wallheimer’s Post

African Americans who left major legacies in wealth management, finance and business haven’t received their due, according to Cedric Nash, founder of the Black Wealth Summit. “I think that we need to know more about these folks and the impact that they've had,” Nash said in an interview. “I think they need to become household names.” In honor of Black History Month, here’s a look at legends from multiple fields whose stories from yesterday may hold part of the key to the industry’s moral and business imperatives of tomorrow. #wealthmanagement #investing #personalfinance

As Black History Month draws to a close, we can think of no better way to express NeuGroup’s deep appreciation for the historical contributions and achievements of Black men and women than to reaffirm our ongoing commitment to promoting diversity throughout corporate America and the worlds of finance, banking and asset management. We stand in support of our members, sponsors and partners who share the belief that the work of creating a more just society is far from over. Two NeuGroup events, one recent and one upcoming, speak to our active engagement in helping spread knowledge that will lead to actions that benefit people of color and other minorities—and the companies and financial institutions they own, run and work for. Earlier this month, Black and veteran-owned broker-dealer CAVU Securities, LLC led an insight-packed discussion of the current commitment to diversity initiatives via our DEI Working Group: https://lnkd.in/eJrM3xTf And in an upcoming NeuGroup for Mega-Cap Treasurers meeting, treasurers who are at the forefront of giving active roles to diverse-owned banks will share with peers the benefits of giving greater opportunities to these financial institutions: https://lnkd.in/g_4W-zXv Thanks very much to everyone in the NeuGroup Network for your active participation in working to make diversity in finance a reality! #NeuGroupCelebratesBHM

VantageScore Celebrates Influential Leaders this Black History Month In honor of Black History Month, VantageScore celebrates inspiring leaders who are working to champion the causes of expanding financial inclusion and bridging the racial wealth gap. This week, we spotlight Wole Coaxum, Founder and CEO of Mobility Capital Finance (MoCaFi). Wole shares VantageScore’s ongoing commitment to expanding financial services access for underrepresented communities. Wole Coaxum is the founder and CEO of Mobility Capital Finance, a digital banking platform for those without savings and credit services in the United States. MoCaFi leverages mobile technologies, data analytics, and digital strategies to improve the financial behaviors of underbanked communities. MoCaFi’s free or low-cost services also include financial coaching, credit education, and homeownership counseling. MoCaFi has attracted more than 70,000 users and has been pivotal in distributing more than $50 million in emergency pandemic relief to underserved communities. #VantageScore #BlackHistoryMonth #BlackLeaders #credit #homeownership #financialinclusion

Embracing diversity, equity, and inclusion isn't just a talking point during Black History Month; it's a call to action every month of the year. So we're amplifying the importance of diverse perspectives in our industry. Just as diversification is a cornerstone of successful investment processes it must be a cornerstone of our team building as well. From better outcomes for investors to improved work environments, diversity of thought is crucial. At CFA Institute, we're driving progress with actionable frameworks like the voluntary DEI Code that we have developed in some global markets and seek to expand. Join us in fostering an environment that is more diverse, equitable and inclusive, so that our teams reflect the communities and societies that we serve. #CFAInstitute #BlackHistoryMonth #DEI #DiversePerspectives #InclusiveInvesting

🫱🏿🫲🏿 Black Executive Men Capital hits different than a normal PE firm. Private equity will never be the same. Black Executive Men Capital goes beyond traditional investing. They empower a dynamic network of Black men in private equity to succeed financially and socially. The mission of Black Executive Men Capital is to build strong relationships and support talented individuals, creating a community that values and enhances achievement. Whether you're seeking to diversify your investment portfolio or connect with like-minded peers, Black Executive Men Capital is your top choice. The Black Executive Men Network provides exceptional opportunities such as online learning, exclusive dinners, and curated social gatherings to strengthen bonds and foster collaboration. Members, like myself, gain from valuable relationships, potential partnerships, expert market insights, fundraising strategies, career growth prospects, and shared celebrations of success. Join the Black Executive Men Network, where excellence is the norm and success is a collective accomplishment! 👏🏿 Get started here: https://lnkd.in/gGpmX_rz #BlackExecutiveMenCapital #BlackExecutiveMenNetwork #PrivateEquity #Success #Community #YBConnects #CollaborationCreatesCurrency

Today our Black History Month feature on the impact of five legendary figures from the fields of wealth, investment management and personal finance is live on Financial Planning. Here's a link and a plea to anyone who may have known June Middleton to get in touch. She was, by the available accounts, the first African American woman registered as a stockbroker: https://lnkd.in/gf2dNNpq She would go on to become a lawyer, a small business coach, an educator and the host of an eclectic TV show. It appears she died within the past few years. For a person who made history, it's unfortunate that there isn't more information out there widely about her life, her experiences in the industry and what led her to go another direction at some point. I'm sure there's a lot there that could be interesting to current and aspiring professionals in the field. If there is anyone out there who may have known her or her family, please get in touch with me so we can find out more and share the fuller story with our audience all year round. Connect with me or email me at tobias dot salinger AT arizent dot com. Plus, here's a link to the full feature, with profiles of Middleton, Gerald B. Smith, LeCount R Davis, Sr., Maggie Lena Walker and Stanley O'Neal and insights from Cedric Nash of the Black Wealth Summit on why trailblazers are so important to the next generation of investors and professionals: https://bit.ly/3SN5QVL #blackhistorymonth #legends #investing

Empowering Women and Leveraging Diversity for Enhanced Risk Management and Innovation in the Workplace Following the insightful post by Margaret Franklin, CFA, President and CEO at CFA Institute, on the paramount importance of diversity, equity, and inclusion (DEI), it's evident that these principles are not just beneficial for community enrichment but are also crucial for improving our workplaces. Franklin highlights how diversity is key to both successful investment strategies and effective team building, underlining the necessity of DEI in every aspect of our professional lives. Building on this concept, it's vital to highlight the specific benefits that come from including women and people from a variety of cultural backgrounds in our workplaces. The involvement of such diverse groups, particularly women, is crucial in minimizing risks and creating a more resilient and innovative risk culture. A diverse team brings together people from different backgrounds, cultures, and viewpoints, which enriches the decision-making process and improves risk assessment. Women, with their unique perspectives and leadership approaches, play a key role in developing thorough risk management strategies. Furthermore, a diverse and inclusive environment is essential for fostering open communication and the sharing of different ideas. This kind of openness is vital for building a culture where risks can be discussed openly, evaluated accurately, and managed effectively. When employees from various backgrounds and cultures feel valued and included, they're more motivated and likely to share their distinct insights, leading to better productivity and outcomes for the organization. This approach not only enhances the work environment but also contributes to the overall success of the organization.

As Black History Month comes to an end, we want to highlight the often overlooked contributions of Black innovators who have been pivotal in propelling our nation forward. A recent Brookings article sheds light on these individuals, challenging the prevailing narratives that minimize their achievements. It calls attention to the role of Black Americans in the advancements of the Golden Age of Invention, a period marked by significant innovations in agriculture, transportation, communications, manufacturing, & electricity. Despite facing severe limitations due to discriminatory practices, Black Americans living outside the South invented nearly as frequently as white Americans. Black people living in the North were 8x more likely to be awarded a patent than those in the South. Indicating they played a far more significant role in the Industrial Revolution than commonly acknowledged, contributing to over 50,000 patents during this era. While it is widely known that immigrants to the U.S. contribute disproportionately to entrepreneurship & innovation, during the Golden Age of Invention, the majority of inventions (87%) originated from U.S. natives. Black Americans were among the most important contributors to this, securing more patents than immigrants from any country other than Germany & England. While we’ve made strides, the innovation landscape still mirrors historical challenges, with systemic barriers persisting in various forms. One significant barrier is the economic challenge stemming from disparities in starting capital, which is often lower for Black entrepreneurs due to historical wealth gaps. This limitation affects the ability to fund new ventures, secure locations, or invest in resources for growth. Market barriers also play a role, as Black-owned businesses face challenges accessing lucrative markets. A report by McKinsey highlights that Black-owned businesses are often concentrated in industries that represent a smaller share of overall business revenues, such as social assistance, professional services, & administrative support, thus limiting growth potential and revenue. Despite these challenges, organizations like Black Excellence Inc are creating pathways for equitable access to resources, knowledge, & opportunities for Black entrepreneurs & professionals. Additionally, at Keystone, our core philosophy centers on harnessing the power of diverse talents to drive economic development & societal advancement. Integral to our vision is the creation of an innovation ecosystem that not only mitigates wealth disparities but actively contributes to their reduction. The legacy of Black inventors underscores that innovation flourishes in a setting where diversity is valued & opportunities are equitable. As corporate & civic leaders, it is our responsibility to champion inclusive innovation. By doing so, we honor the legacy of past innovators & pave the way for future generations to contribute to our collective progress.

BIA continues to make history. Last Friday, our team and members proudly participated with UBS in ringing the opening bell at the New York Stock Exchange. Amidst the reception, BIA's  CEO, Dr. Kelly Burton, PhD, delivered a compelling speech shedding light on the history of Black people on Wall Street and underscoring the pivotal role of BIA's initiatives in advancing economic equity. “The BIA logo is the face of a Black woman. And to see the face of a Black woman hovering over the trading floor was overwhelming for me. Because in this country for more than half of this nation’s history Black people were the commodity. We were what was traded. By the time of the Civil War Black people were the largest asset class in this country. We’ve come a long way, but we have a long way to go. Equality has to be more than an articulation. We have to make it real. We have to make it real! William Faulkner said, “The past is not dead. It’s not even past.” So today we celebrate Black History Month. We have to appreciate history is being made right now. Right now. We are fighting the same fight. It just looks different. - Kelly Burton, PhD Reflecting on this significant event, we remain steadfast in driving positive change and shaping a more equitable future for all. #BlackInnovationAlliance

In the spirit of not only Black History Month but being a Black Woman in Finance, two instantly come to mind in regards to being virtual mentors to my growth in this space. Mellody Hobson co-CEO and President of Ariel Investments, and Thasunda Brown Duckett, President and CEO of TIAA. Both of these powerhouses not only inspire me to advise people humanly but also maintain my essence of self no matter the space. From working in finance to now building my own, hearing not only their words but also their motions has given me fuel to keep showing up in finance. They both have been critical to not only closing the wealth gap but also standing in the gap to give insight into how each African American can close their personal wealth gap. Not only do they call out the gaps in how we money, they become indicators of change for how money looks for us in the generational format. I quote them often in not only my work but also my platform. Being a woman in finance, let alone an African American Woman in fiance — can fill a bit of a soiled experience, but looking to them has made me hold what I'm building to the same standard as they operate their entities and companies within. Their voices echo, to bring change not only in the change that Black Women are paid compared to other cultures but also to change the narrative for us all. Mentors don't necessarily have to be within your day-to-day, but they can be in your viewpoint to let you know not only what is possible but how to align to your goals via their vantage point. It's been amazing watching them both dominate this space and I look forward to what's to come from both of them, respectively. #BlackHistoryMonth2024