A judgment-free, welcoming space that encourages people of color to find financial advisers who look like them: That’s the purpose of CHIP, an acronym for Changing How Individuals Prosper, an online organization founded and led by Dana Wilson. “CHIP was the result of the evolution of my career,” said Wilson, who became a financial adviser at SunTrust Bank in 2008, later moved to Merrill Lynch, and eventually formed her own firm. “I became tired of never seeing anyone like me wherever I worked. After the murder of George Floyd, I asked myself how I would turn the emotion and passion for what I felt into something productive. I wanted to form an inclusive environment, and that became CHIP.”
Assisted by a team of volunteer professionals, Wilson is focused on CHIP full-time. It is both a referral network, making it easier for consumers to find Black and brown advisers who can help them with their specific needs, as well as a member community and hub for financial professionals of color, such as estate attorneys and accountants, in addition to advisers. “We also want to partner with advisory firms to help them with recruitment and mentoring so they can attract and retain diverse professionals who will have successful careers at those firms,” said Wilson, who noted that her mother did a great job of teaching her about money, but that many women and people of color haven’t been as fortunate. “We want as many people as possible to feel comfortable coming to the table.”
— Evan Cooper