by | May 27, 2024 | Podcast Insights

Being a black or brown female advisor in the financial industry comes with its unique set of challenges. From navigating biases to communicating value effectively, there’s a lot to consider. I turned to Lazetta Braxton, a trailblazing advisor and friend, to share valuable insights on overcoming these obstacles in a recent Breaking Money Silence podcast episode. Here were her 5 tips for success:  

Find Your Tribe and Seek Mentorship

Black and brown female advisors often find themselves in environments where they’re the minority. In such situations, finding a supportive tribe becomes crucial. Seek mentorship from individuals who have walked a similar path or aspire to be where you are. These mentors can provide valuable guidance, wisdom, and opportunities that help you navigate the complexities of the industry.

Invest in Personal Development

Developing a strong sense of self-worth and confidence is key to effectively communicating your value. Invest in personal development through coaching, self-reflection, and continuous learning. Understand your values, strengths, and areas for growth. By doing the inner work, you’ll be better equipped to navigate professional challenges and showcase your expertise authentically.

Embrace a Mind-and-Money Approach

Lazetta emphasizes that the intersection of mind and money is crucial in financial advising. Recognize the importance of emotional intelligence (EQ) alongside intellectual prowess (IQ). Incorporate empathy, relationship-building, and client-centered approaches into your practice. By addressing both the financial and emotional needs of your clients, you’ll establish deeper connections, build trust and foster long-term client loyalty.

Be Bold in Authenticity

Overcoming the perception of being “salesy” requires a mindset shift. Embrace authenticity and view your passion for helping clients as your strongest selling point. Your unique perspective as a black or brown female advisor brings very important insights and empathy to your interactions. Communicate your value confidently, knowing that your authenticity resonates with clients seeking genuine relationships and contributes to creating a more equitable and welcoming environment for all advisors.

Advocate for Systemic Change

While personal development is essential, systemic barriers in the industry persist. As leaders and allies, advocate for diversity, equity, and inclusion initiatives that create more opportunities for underrepresented advisors. Challenge outdated norms and structures within organizations to foster a more inclusive environment. Remember, it takes collective effort to drive lasting change and create a more equitable industry. By fostering a culture of inclusivity and empowerment, you pave the way for future generations of black and brown female advisors.

For more information about Lazetta’s advisory and consulting, please visit her website at www.lazetta.com