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Some Demographic Groups Under-Represented Among Investor Households, FINRA Foundation Research Finds

WASHINGTON — More than 3 in 10 U.S. households own taxable investment accounts, but black and Hispanic households are significantly less likely than white households to hold taxable accounts, according to A Snapshot of Investor Households in America, a new report issued by the FINRA Investor Education Foundation. Millennial households and those headed by single women also have low taxable account ownership rates.   

"There are some demographic groups that are under-represented in the retail investor world – most notably black and Hispanic investors. And while it can be argued that these households are under-represented because they tend to have lower incomes, the differences persist, albeit at a smaller rate, even when controlling for important demographic variables like income and education," said FINRA Foundation President Gerri Walsh. "The report also notes the potential for targeted investor education to contribute to greater market participation among under-represented groups."

A Snapshot of Investor Households in America found that:

  • Thirty-six percent of white households own taxable investment accounts, compared to 25 percent of Hispanic and 22 percent of black households.
  • A little over 2 in 10 millennial households own taxable investments compared to nearly 4 in 10 boomer households.
  • Only 15 percent of households headed by single women with dependents own taxable investments. 

A Snapshot of Investor Households in America found that beyond demographics, other factors are related to taxable investment account ownership as well. Higher levels of financial literacy are associated with higher levels of account ownership, and households with taxable investments have significantly higher risk tolerance levels than households without taxable investments.

The FINRA Foundation's new study is based on an examination of data from the FINRA Foundation's National Financial Capability Study (State-by-State Survey), which was developed in consultation with the U.S. Department of the Treasury, other federal agencies and the President's Advisory Council on Financial Capability. The data were collected through an online survey of 25,509 American adults from July through October 2012, and were weighted to be representative of the U.S. adult population. As in all survey research, there are possible sources of error – such as coverage, non-response and measurement error – that could affect the results. The full data set, questionnaire and methodology are available at www.usfinancialcapability.org.

About the FINRA Foundation
The FINRA Investor Education Foundation supports innovative research and educational projects that give underserved Americans the knowledge, skills and tools necessary for financial success throughout life. For details about grant programs and other FINRA Foundation initiatives, visit www.finrafoundation.org.
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Answer true or false about your current resume…

Racing Toward Diversity Magazine

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Answer true or false about your current resume…

  • The title is “Resume”
  • It lacks social media contact details
  • It includes personal attributes and a picture of you
  • It has an overabundance of jobs
  • It's only one page

If you answered “true” to any one of these questions, now is the time to update your resume on Racing Toward Diversity Magazine.

Add your name and objective job title to your resume name to diversify yourself from other candidates. Include your social media links so employers can see your personality and transparency. Remove any personal attributes from your resume. Add more accomplishments to show your strengths and take out any past jobs that hold no relevance to your end goals.

The first way to stand out from other candidates on Racing Toward Diversity Magazine is to update your resume to show the hundreds of employers why you’re the one they’re looking for.

Update Resume Now

Youth Led Tech: One Solution to Lowering Crime in Chicago

This blog originally appeared on Microsoft Chicago’s blog on August 11, 2015.

August 11, 2015 by Shelley Stern Grach

Hadiya Pendleton. Ms. Pendleton’s death became a symbol for a different element of gun violence — urban youth, caught in the wrong place or wrong time, and often overlooked or quickly forgotten. Ms. Pendleton, a student at King College Prep High School, was shot on January 29, 2013 as she sat after school in a park (about a mile from President Obama’s Chicago home) with friends — a group that the police say were probably mistakenly swept up in the cross-fire of a gang fight. Guns, shootings and violence in the streets are a daily topic in Chicago. Unfortunately, Ms. Pendleton is one of many young lives lost. Civic leaders, the Mayor, other government officials and Chicago Police are looking for innovative ways to help get kids off the street, thus removing guns from their hands, and preventing the senseless loss of our youth.

There may be a glimmer of hope, thanks to the Youth Led Tech program, which was piloted this summer, as a partnership between Smart Chicago Collaborative, Get IN Chicago and Microsoft. Get IN Chicago is our city’s only public-private partnership exclusively dedicated to reducing violence.  Combining the strength of Chicago’s best leaders, organizations, and service providers, the goal of Get IN Chicago, is to leverage the power of our entire city to create collaborative, effective solutions. Get IN Chicago focuses on making our city safer in four ways: building up local organizations, funding successful programs, measuring and evaluating impact, and continuously collaborating with the community. One such program that supports capacity building, technical assistance, and community empowerment initiatives is the Youth Led Tech program.  

Over the past six weeks, 130 youth in five challenging neighborhoods, participated in digital skills classes and completed instructions and testing to achieve a certificate and a new ASUS Windows laptop. The idea is to teach technology in the areas that youth are most interested in—web design/building a website—and to exposure and tech them more about careers in tech. The goal is to provide the youth with marketable skills, along with new mentors and corporate contacts, so they can get a job or explore careers in tech.

Last week, Microsoft and Adam Hecktman had the honor of hosting this year’s class, parents and guardians, mentors and partners at the Microsoft Technology Center to celebrate the graduation and certificate program of the Youth Led Tech group. The large room was packed to celebrate what is possible, and what ought to be happening with Chicago’s youth. With great partnerships like Smart Chicago Collaborative and Get IN Chicago, and innovative approaches to providing workforce skills, we’ll be seeing fewer tragedies and more opportunity for Chicago’s youth.

Get IN Chicago is an innovative five-year, $50 million partnership that focuses on identifying, funding and rigorously evaluating evidence-based programs that lead to sustainable reductions in violence for individuals and communities. Since 2013, GIC has awarded grants totaling more than $13.6 million for evidence-based community programs at 54 non-profit organizations that support more than 10,000 at-risk youth and their families in seven Chicago communities. More information is available at www.getinchicago.org.


Group O Appoints Candace Wise to Vice President, Marketing Solutions

MILAN, IL — Group O, the leader in business process outsourcing solutions, announced today that it has appointed Candace Wise to the position of Vice President, Marketing Solutions. In this role, she will be responsible for the operations, product development, sales and account management of Group O’s rewards, promotional fulfillment and print management offerings.
Over the past 27 years, Wise has driven strong results for Group O in a variety of roles. She joined the company in 1988 as a customer service representative and was appointed Systems Administrator in 1990. As Systems Manager, Wise managed all of Group O’s ERP and timekeeping system implementations, upgrades, conversions, software training and daily user support.  She also played a key technology role in the onboarding of acquisitions Wolf Packaging and Kent Packaging, specializing in inventory management best practices.
In her previous role as Executive Director, Marketing Solutions, Wise led the operations and client services functions for key accounts such as AT&T, Michelin, Staples, Microsoft and General Mills.  During her tenure, customer satisfaction has consistently topped 98% and her team has seen steady growth.
“Candy brings a hands-on approach to understanding client needs and crafting solutions that meet their business goals,” said Group O CEO Gregg Ontiveros.  “She is a proven leader in delivering bottom-line improvements for our clients – and in ensuring that we deliver exceptional experiences for their customers at each and every point of contact.”
Wise has been active in local organizations including Junior Achievement and the Boys & Girls Clubs of the Mississippi Valley.  She and her husband, Mark Herbert, Group O Director of Reward Solutions, reside in Milan.

About Group O
Group O is a diversified business process outsourcing provider specializing in marketing services, business analytics, supply chain operations and strategic packaging solutions. A Corporate Plus® member of the National Minority Supplier Development Council (nmsdc.org), Group O is an NMSDC National Minority Supplier of the Year honoree and is recognized as a Top 5 Latino-owned Business by the United States Hispanic Chamber of Commerce. Headquartered in Milan, IL, and with major operations in Illinois, Iowa, Minnesota, Tennessee and Texas, Group O is one of the largest Hispanic-owned companies in the United States and employs more than 1,200. To learn more, visitwww.GroupO.com.


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