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Special Report

Special Report: Advisor Cultural Competency

How to build diversity in your advisory business.

You might not have realized it, but you can't talk to your clients about money without talking about culture.

Every culture and identity has a different way of approaching the issues central to managing finances. There is no one-size-fits-all way to think about retirement, home ownership, paying for college, debt, family and community obligations, and even trust in financial institutions and the government.

The same applies for creating a more diverse workplace. And as the United States grows more diverse, having this knowledge becomes not just the right thing to do, but the smart thing to do for financial advisors and their businesses. 

With that in mind, Morningstar provides a collection of articles for advisors on how best to build diversity in their businesses.

How Advisors Can Bridge the Money and Culture Gap
Cultural competency has major implications for business.

The Case for Real DEI in Your Advisory Business
It takes more than just checking boxes to see the benefits.

Broadening the Reach of Financial Advice
The cultural competency of the financial planning industry is still in its infancy.

The Myth of the 'Asian American' Client
There is no one-size-fits-all financial advice for the incredibly diverse Asian American audience, so it is important to understand your clients on a case-by-case basis. 

How Advisors Can Help LGBTQ Clients With Planning
Here are some tips to consider and mishaps to avoid when working with the LGBTQ community. 

Cultural Competency: How Advisors Can Educate Themselves on the Immigrant Experience
Here are ways financial advisors can better understand clients' culture to bring about better advice.  

8 Key Steps to Provide Better Advice to Latino Clients
Opening your firm to a more diverse client base starts with education. 

How Advisors Can Educate Themselves on the African-American Experience
A better understanding of your clients can help shift the trajectory of wealth-building for African Americans. 

How to Be an Active Ally to Women in Financial Services
It's one thing to call yourself an ally, and another to do the work. 

Advisors, These Hiring Biases Are Damaging Your Firm's Future
Prepare for 2030's demographics.

Dear Fellow White Women in Finance: Hold That Door Open
Diversity improves our work and work environment.