FundFire Exposes Lack of Action from Investment Consultants on Diversity

June 15, 2020 - In the midst of nationwide protests over systemic racism, many investment consultants have made statements condemning racism and praising diversity. But, as Fundfire notes, it’s unclear whether these consultants will take proactive steps to improve diversity. Historically, the industry has been reluctant to diversify.

The article includes commentary from DAMI’s Justin Wilson.

“A lot of people are releasing public statements to kind of follow the trend… they just want to acquiesce to the questioning for as long as they can, and then go back to the status quo,” says Justin Wilson, director at The Raben Group, which launched the Diverse Asset Managers Initiative (DAMI). “But for communities of color, this isn’t a ‘moment’ for us, these are the lives that we’ve been living. People are pushing on people to do something about it, and I hope the financial industry gets caught up in that wave and makes some changes.”