In this episode of our NextGen in 10 podcast, host Matt Aaron, CFP®, RICP® speaks with Rianka Dorsainvil, CFP® about her unique career path into financial services and how people from non-financial backgrounds are finding great success and satisfaction in the industry.

Rianka Dorsainvil, CFP®, co-founder and co-CEO of 2050 Wealth Partners, focuses on empowering entrepreneurs and first-generation wealth builders to own their money story and pursue their biggest dreams. As a financial planner and an advocate for diversity, equity, and inclusion, Dorsainvil believes that first-generation wealth-builders are a community that has been underserved by the financial planning profession for too long – and she’s here to help change the tides. She serves as a member of CNBC's Digital Financial Advisor Council and CFP Board’s Diversity Advisory Group, is a Forbes Personal Finance contributor, and has been recognized for her accomplishments and leadership within the industry by leading publications and organizations, such as InvestmentNews’ inaugural 2017 Women to Watch Rising Star award and Wealth Management’s Ten to Watch in 2018. She has been published in PBS NewsHour, Forbes, USA Today, Black Enterprise, CNBC, Women’s Health, and more.

Any views or opinions expressed in this podcast are the hosts’ and guests' own and do not necessarily represent those of The American College of Financial Services.

In this episode of our NextGen in 10 podcast, host Matt Aaron, CFP®, RICP® speaks with Rianka Dorsainvil, CFP® about the need for more women in financial services, how an advisor can learn about a client's diverse cultural background, and why an advisor must be knowledgeable about taxes.

Rianka Dorsainvil, CFP®, co-founder and co-CEO of 2050 Wealth Partners, focuses on empowering entrepreneurs and first-generation wealth builders to own their money story and pursue their biggest dreams. As a financial planner and an advocate for diversity, equity, and inclusion, Dorsainvil believes that first-generation wealth-builders are a community that has been underserved by the financial planning profession for too long – and she’s here to help change the tides. She serves as a member of CNBC's Digital Financial Advisor Council and CFP Board’s Diversity Advisory Group, is a Forbes Personal Finance contributor, and has been recognized for her accomplishments and leadership within the industry by leading publications and organizations, such as InvestmentNews’ inaugural 2017 Women to Watch Rising Star award and Wealth Management’s Ten to Watch in 2018. She has been published in PBS NewsHour, Forbes, USA Today, Black Enterprise, CNBC, Women’s Health, and more.

Any views or opinions expressed in this podcast are the hosts’ and guests' own and do not necessarily represent those of The American College of Financial Services.
 

In 2004, Troopathon, formerly known as Move America Forward, was founded by Melanie Morgan as a nonprofit organization with a mission to provide emotional and tangible support to active-duty troops as well as offer assistance and resources to military families and veterans in need. Since its founding, Troopathon has sent over 1,000 tons of care packages to troops on the frontline thanks to the unwavering support of thousands of pro-troop civilians, veterans, and military families nationwide.¹

The organization hosts an annual Troopathon fundraiser, which is the largest and only nationally televised annual care package telethon. It aims to send as many military care packages as possible to our troops on the front lines.

Troopathon provides numerous opportunities to get involved including donating, volunteering, and spreading awareness.

With months of dedicated research and design, Wright Research Fellow Alisha Cook and director of research Kaylee Ranck, PhD, have developed a strong foundation for understanding the career interests and intricacies of the next and upcoming generation of financial professionals, Generation Z. As the financial services industry evolves, understanding and harnessing the potential of these emerging professionals becomes paramount for the future success of institutions and the clients they serve.

The survey aims to understand the career interests, experiences, and preferences of Gen Z individuals (aged 18-27), who are either interested in or already within their first three years of a career within the financial services industry. It covers a range of critical topics including but not limited to:

Career interests and experiences

Perceptions of the financial services industry

Financial literacy, digital skills and AI adaptiveness

Career advancement goals and aspirations

Consisting of over 40 questions and around 15 minutes in length, the survey dives deep into the minds of Gen Z, capturing the nuances of their career motivations and expectations. Participants' involvement will have no foreseeable risks and responses will remain anonymous, ensuring their safety and confidentiality.

By participating in this survey, Gen Z professionals will provide critical insights that can help shape the future of the financial services industry. These insights will empower institutions to tailor their recruitment and retention strategies more effectively, aligning them with the expectations and needs of young professionals.

We invite all eligible Gen Z individuals to share their perspectives and contribute to this important research. This survey will provide valuable data that can help shape the future of financial services, ensuring that it remains responsive to the next generation of talent. To participate, simply click the link below:

https://theamericancollege.qualtrics.com/jfe/form/SV_d4IBCrNvFQvXefA

The InvestmentNews Women Advisor Summit provided a unique platform for advisors and their supporters to explore the latest industry trends, practice management strategies, and career development opportunities. The American College of Financial Services, serving as the education partner, was proud to contribute its expertise to this talented group of financial professionals.

Returning from the summit, attendees, including myself, felt inspired and equipped with practical ideas, new tools, and invaluable connections with peers and industry leaders. Some of the key lessons that resonated with me included the following:

• The practice of a financial professional is to become a translator and speak the language of your clients
• Spend the time getting to know your clients during all seasons of life and put in the reps to develop a rapport with clients
• Organic growth aside from M&A takes concentrated effort

At the Wealth Management EDGE conference, discussions centered on the future of diversity, equity, inclusion, and belonging (DEIB) in the industry. Representing The College, I had the privilege to discuss how the industry can increase awareness and accessibility for diverse communities. Addressing the obstacles that hinder entry into the financial services industry and ensuring firms retain and invest in diverse talent is crucial.

As the financial services industry continues to evolve, embracing diversity and fostering an inclusive environment will be key to its sustainability and success. By engaging with passion and committing to DEIB principles, the industry can ensure a bright and equitable future for all professionals and clients. Read more about the discussion here.

On June 6, the Center for Military and Veterans Affairs’ Military Resource Group Consortium hosted its first free hour-long webinar featuring panelists from various tribes in the financial services industry. The webinar began with each panelist describing their transition from the military into the industry and highlighting the opportunities and challenges they each experienced. They continued by discussing the educational opportunities they each took advantage of and how it has led to their success in the industry.

Each panelist delved into which hard and soft skills learned in the military they believe are most transferable to the industry. “In the military you learn how rules and regulations work and how to apply and live by them, but you also learn humility which will come when helping clients navigating life,” said Daniel Kopp of Wise Stewardship Financial Planning.

Matt Stephens of Willow Chute Financial also felt that the military provided him with valuable skills that he has transferred to financial services. “You learn how to ask pointed specific questions and network well, which strengthens your influence,” Stephens said.

Christopher Smiley stated his belief that the regimented environment prepared him for success in financial services as well, “In the military you are always used to having a manual that helps you build efficiency; you can build efficiency and discipline into financial practices.”

In total, the webinar had 57 registrants with many scholars from the Center for Military and Veterans Affairs and members from each consortium’s company resource group in attendance.

The consortium will be hosting its next webinar during the 2024 Military Summit. 

In 1999, the United States Congress designated May as National Military Appreciation month to provide citizens the opportunity to publicly honor and recognize the contributions, sacrifices, and services of members of the armed forces, past and present.

According to Military.Com, “the month plays a crucial role in raising awareness and understanding the challenges faced by the military community and provides a platform for education and dialogue about the experiences of service members, veterans, and their families.”

The month highlights several military anniversaries and events including Military Spouse Appreciation Day, Children of Fallen Patriots Day, U.S. Armed Forces Day, and provides an opportunity to pause and reflect on those who gave all on Memorial Day.

May was chosen because of the military’s historic achievements throughout the month including Victory in Europe (VE) Day, which commemorated the end of WWII in Europe in 1945.

There are numerous opportunities for citizens to show their appreciation, including attending events in their local community, purchasing a meal for a service member in uniform, volunteering at a VA hospital or veterans’ shelter, donating to a veterans’ charity, or sending a care package.

From April 25 through April 27, staff from the American College Center for Military and Veterans Affairs attended MilMoneyCon in Denver, Colorado. For the past three years, the Center has been in attendance as a Bronze Sponsor in support of Advisory Council Member, founder, and CEO of MilMo and MilMoneyCon, Lacey Langford, U.S. Air Force (Vet.), AFC®.

Langford founded MilMoneyCon with a mission to bring service members, veterans, and military spouses together to build and progress their careers, continue their education, and grow their earning power as practicing or rising financial professionals. At the center of this mission is an expression Langford uses as the philosophy behind her powerful mission: “Rising tides lift all ships.” By coming together to solve problems and supporting each other members of the military community not only help themselves, but uplift others within the community.

Throughout the event, the Center had the opportunity of meeting many of its partners and providing attendees with information about The American College of Financial Service’s various designations, the Center’s scholarship program, and initiatives. It also had the privilege of meeting numerous scholarship recipients and learning first-hand the difference these scholarships had made in their careers, to their families, and in their life. 

In this episode of our Shares podcast, hosts Lindsey Lewis, MBA, CFP®, ChFC® and Alanah Phillips, MBA speak with Cary Carbonaro, MBA, CFP®, an award-winning thought leader and advocate for women, for a discussion on how far the industry still has to go to make women feel welcome and the secrets to success and satisfaction in a largely male-oriented profession.

Cary Carbonaro, MBA, CFP® is senior vice president and director of women and wealth with ACM Wealth. An award-winning financial professional with over 25 years of experience, she is a tireless advocate for women in the financial industry and is passionate about increasing financial literacy and empowering women to overcome any financial challenge they face. She is the author of the bestselling wealth management book for women, The Money Queen’s Guide: For Women Who Want to Build Wealth and Banish Fear, and a CFP Board ambassador appointed to represent the industry in the media. In 2016, she earned the prestigious InvestmentNews Women to Watch award and has been honored six times as a top financial advisor on the Investopedia 100 list, most recently in 2023. She was also named a ThinkAdvisor LUMINARIES Class of 2023 finalist in the Thought Leadership category, recognized for driving the wealth management, investment, and retirement industry forward. She is the founder of FemmeForce, a nonprofit which serves as a mentorship collective dedicated to elevating women in the financial services world.

Any views or opinions expressed in this podcast are the hosts’ and guests' own and do not necessarily represent those of The American College of Financial Services.
 

In the piece, Flood discusses the Servicemembers Civil Relief Act (SCRA) and the Military Spouse Residency Relief Act (MSRRA). She points out several of the key advantages offered to servicemembers and their families by these laws, and explains why any financial advisor working with military members should be well-versed in their policies.

Read on to hear what Flood has to say about optimizing the finances of military clients!

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