Even as diversity comes under attack—being blamed for incidents like the recent aircraft accident in DC—it remains a critical factor for success in the workplace and financial services industry. In fields like 401(k) advisory and retirement planning, where innovation has been slow, diversity isn’t just about fairness—it’s about better business results. Research shows that companies with diverse teams make smarter decisions, connect better with clients, and achieve higher profits. When professionals bring different experiences and perspectives, they help firms adapt to changing markets, improve financial strategies, and serve a broader range of customers.
As retirement planning and financial services evolve, ignoring diversity could mean falling behind. The rise of new retirement plans, the integration of wealth and benefits services, and a more diverse workforce all demand fresh thinking. While some critics claim diversity is a distraction, the reality is that companies with inclusive teams are more innovative, competitive, and successful. Diversity isn’t just a trend—it’s a proven strategy for long-term growth and resilience in today’s fast-changing financial world.
Read more in Fred Barstein’s latest Wealth Management column: “The Case for Diversity at Work and in the Financial Services Industry.“
