Black History is America’s History

Black History Month is a time for all of us to remember, recognize, and honor the Black and African American heroes of the past, as well as those making history in our own era. Designated by Congress in 1976, like other months that follow — such as Women’s History Month in March (designated in 1987) and National Military Appreciation Month in May (designated in 1999) — Black History Month is when we pause to acknowledge and highlight the difference-makers who represent the best of the American spirit and values. Their contributions are an integral part of the fabric of both the nation and the financial services profession.

Black history is America’s history. Slavery was a chapter in our story. Later, the separate-but-equal treatment of Blacks in the Jim Crow era was a chapter. These pivotal points in our country’s history taught important lessons about the deep pain and societal damage that can occur when citizens are not able to participate fully in the American dream of life, liberty, and the pursuit of happiness. It’s important that we reflect on those two chapters in American history; as the saying goes, people who don’t know history are doomed to repeat it.

Black history is America’s history. There are also wonderful moments of American history, including many more chapters in which Black Americans played a prominent role in the advancement and betterment of all society. We want to remember those milestones and allow ourselves to be inspired by them.

Within financial services, we honor the memories of Black pioneers in our profession, including:

• Maggie Lena Walker, who became the first woman to own a bank in the United States when she founded the St. Luke Penny Savings Bank in 1903
• O.W. Gurley, who founded Black Wall Street upon purchasing 40 acres in Tulsa, Oklahoma in 1906
• Alonzo Herndon, who founded the Atlanta Life Insurance Company in 1922
• Arthur George Gaston, who founded the Booker T. Washington Insurance Co. in 1923
• Ernesta Procope, who founded private insurance company E.G. Bowman in Brooklyn in 1953, which later moved to become the first Black-owned business on Wall Street
• LeCount Davis, CFP®, who is the first Black person to earn the CERTIFIED FINANCIAL PLANNER™ certification, having become a CFP® professional in 1978
• Clifton Wharton, Jr., who is former chairman of the Rockefeller Foundation and former chair and CEO of TIAA-CREF, where he started in 1987
• And the list goes on…

I hope you will read and share these stories. It is my honor to stand on the shoulders of these giants. I had the honor and privilege of being elected the first Black president of the National Association of Insurance Commissioners (NAIC) in 2000, and have served as the first Black president of The American College of Financial Services since 2018. When I reflect on these “firsts,” I’m reminded of my favorite song from the musical Hamilton: “And even now I lie awake, knowing history has its eyes on me.”

Black history is America’s history. So perhaps this year, we can ask ourselves what role we will play in the history (and future) of financial services. There’s not a day that goes by that I don’t feel the support of this community of financial professionals who love their life’s work and love The College. Everyone who shares in the noble purpose of our profession should feel a sense of belonging.

“We honor the memories of Black pioneers of our profession… I hope you will read and share their stories.”

It is my pleasure to lock arms with you on our journey to benefit society through applied financial knowledge. Whatever your background, whatever your race, whatever your specialization within this noble profession, know this: We are together in a transformational period in College history—and you can make a difference.

Here are some of the ways The College honors the legacy of Black pioneers and empowers today’s financial professionals through our strategic focus on representation:

We educate sponsors and fellows in a one-of-a-kind shared learning experience through the Black Executive Leadership Program
We expand opportunities for professional connections at our annual event coming up in August in Atlanta, the Conference of African American Financial Professionals (CAAFP)
We reach students at Historically Black Colleges and Universities with our consumer educational program called Know Yourself, Grow Your Wealth®

I encourage you to learn more about what we’re doing and make your own connections with our Center for Economic Empowerment and Equality.

Whatever Black History Month means to you, I hope you feel proud to represent the financial services profession and are hopeful to see the financial services profession better represent all of us. I believe every one of us, from every background and identity, can be part of American history and part of the future of financial services.

Black history is America’s history. This month, we honor the many successes and achievements of the Black and African American community. Together, we have made — and continue to make — incredible progress. And even as we recognize the accomplishments of the past, we also look to the future.

As a closing thought, I’ll quote the Hamilton song once more… “I know that greatness lies in you. But remember from here on in, history has its eyes on you.”

“I hope you feel proud to represent the financial services profession and hopeful to see the financial services profession better represent all of us.”