Wednesday, May 29, 2013

Pru Surveys the African American Market

Our last post looked at the unmet need for consumers who are looking to work with female financial professionals.  Prudential is out with a study this month uncovering another unserved market: the African American market.

According to the study:
Those blacks polled report an overall sense of detachment from the financial services industry, as blacks are 13 percent less likely than the general population to have been contacted by a financial adviser. Though half of African-Americans surveyed say they believe working with a financial adviser would help them make better financial decisions, only 19 percent actually have one.
Surveys like this are one reason CFS works to knock down barriers to entry into the financial services profession encountered by those most likely to work on America's Main Streets.