Insight: How Racial Differences in Trust Can Affect Decisions About Financial Planning

By Julie Anderson

Insight Overview


Consumers can learn about the benefits of working with a financial professional; doing so can improve consumer well-being in retirement. Financial professionals can become more aware of possible mistrust of their profession among African American and Latino households, and can adjust their approach to those potential clients accordingly. They can also recommend to African American and Latino clients that they invest in protected lifetime retirement instruments to help address the persistent disparity in retirement savings.

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About the Author

Julie Anderson, MBA, MPP, is the founder and a principal of AG Strategy Group, a strategic consulting and writing services firm. Previously, she was the Chief Operating Officer and a Managing Director at Civitas Group, as well as an Associate Partner at IBM Global Business Services. Anderson has served as Acting Assistant Secretary and Deputy Assistant Secretary for Policy and Planning at the U.S. Department of Veterans Affairs. Anderson earned her MBA from Duke University, has a Master of Public Policy from the University of Chicago, and is a graduate of Nebraska Wesleyan University in Lincoln, where she was named a Harry S. Truman Scholar.

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