In September 2020, Nationwide Financial formed the Financial Alliance for Racial Equity to increase the number of Black professionals entering the financial services industry and to support and invest in them once there. In this effort to prioritize DEI efforts, Nationwide proposed the FARE concept to six historically Black colleges and universities, as well as to Morgan Stanley, Huntington Bank, NFP, Franklin Templeton, M Financial, Miami Life and National Brokerage Atlantic. All agreed to participate by providing resources, training and connections to Black students and professionals, which will be important components to their success in the financial services industry. “It’s imperative we continue to make progress toward racial justice and inclusion in this country and within our own firms. We know Black college students and financial professionals need to see real change,” said John Carter, president of Nationwide Financial. “This alliance is the next step in our work to deliver that change and increase equity and representation in our industry.”
FARE is committed to connecting students from the participating schools with internship and career opportunities at member firms. It is also producing a “Success Stories” video series showcasing Black financial professionals in leadership roles who share their stories in order to inspire students and inform them of the range of careers and opportunities available in financial services. The group also provides Black financial professionals with mentoring resources, including a diversity mentorship presentation and training programs, as well as providing professional training and networking opportunities to help Black financial professionals grow in their career.
Contact: Cindy Hoes, associate VP, hoesc1@nationwide.com.
— Evan Cooper