How do you attract clients from segments of the population that traditionally have been ignored? Since the start of 2020, Ally Invest President Lule Demmissie and Lindsey Bell, the firm’s chief investment officer, have been working to create an intensive, information-led program designed to build trust and credibility with those segments, specifically women and Black and Brown people. The goal was to create an approach different from typical campaigns aimed at predominantly wealthy white male investors. “A diverse workforce makes us more innovative and creates a stronger culture,” said Reggie Willis, Ally’s chief diversity officer. “It’s not just about bringing differences and diversity into our workplace and trying to get them to assimilate. It’s really about having some core values and a culture of inclusion and then allowing the space for those differences to be heard and celebrated.”
The program started with de-jargonizing and demystifying investing with the goal of making it accessible to all. Program elements include:
• A weekly investing viewpoints email/blog published every Friday.
• Volatility alerts, published when volatility in the S&P 500 and VIX is elevated.
• Quarterly market outlooks.
• Managed portfolio reviews
• An engagement tile that brings relevant, timely information to customers within the trading platform.
• Insights woven throughout the platform and mobile app.
• A YouTube “Stock Play of the Day” show sharing the latest market trends.
• Weekly and monthly insights in print/broadcast media.
• Partnering with organizations to educate underserved investors and communities.
• Free digital conferences (four in 2020, two thus far in 2021) at which presenters are majority minority.
Contact: Marisa Bazemore, senior public relations manager, at Marisa.Bazemore@ally.com.
— Evan Cooper