Jon Henschen – The financial services industry has evolved on the topic of equality over the last five years. Five years ago, firms were encouraged to bring greater diversity and equality to the workplace.  Over time the message became increasingly urgent and instead of encouraging, industry writers started to guilt firms to speed up the process of back-office employees and advisors hired reflecting greater diversity and equality.  More recently the tone of articles has shifted to shaming firms that haven’t made enough “progress” in equality/diversity advances.

The shaming has been primarily focused to broker/dealers that are small and midsized vs. larger broker/dealers that these anointed ones believe progressed at a fast enough pace to not be shamed.  The largest wirehouse firms like Merrill Lynch and Morgan Stanley are the most enmeshed in woke dogma and the push for equity.     Continue reading →