Taking a cue from the legal professional, Los Angeles-based Lido Advisors, a registered investment advisory firm managing $7 billion, adopted a version of the Mansfield Rule. The rule was inspired by a winning idea at the 2016 Women in Law Hackathon and measures whether law firms have affirmatively considered at least 30% women, lawyers of color, LGBTQ+ lawyers, and lawyers with disabilities for leadership and governance roles, equity partner promotions and formal client pitches. Lido’s version ensures that at least 30% of the candidate pool for any role at the firm meets those diversity requirements.
In another effort aimed at improving DEI, Lido has partnered with College Track, a comprehensive college-completion program that equips students confronting systemic barriers to earn a bachelor’s degree. Lido takes one or two interns from the College Track Program each year. It also has participated in a number of the program’s workshops, providing student exposure to the wealth management business. The firm ensures that internship candidates are selected from a wide variety of Los Angeles neighborhoods, not just those with concentrations of wealth. Lido has also made financial commitments to several organizations that promote diversity, equity and Inclusion.
Contact: Abigail Galusha, senior marketing associate, at agalusha@lidoadvisors.com.
— Evan Cooper