Our mission is to identify, develop and mentor the next generation of successful minority investment talent.
According to a 2017 survey conducted by MMI and FundFire, black professionals account for just a tiny fraction of U.S. asset based roles: managing director (1.4%), senior portfolio manager (1.4%), portfolio manager (1.5%), and senior distribution (1.7%). Latinos are also significantly underrepresented.
Given these results, senior leaders in the asset management industry are actively seeking qualified minority talent. Unfortunately, the candidate pool is very narrow, which underscores the need to invest in the next generation.
Recent data from a 2019 Survey of Consumer Finances quantified the economic realities of different racial and ethnic families in our country. Like the 2016 study, the results were disheartening.
In 2019, the typical Black family had about $23,000 in wealth. The typical Hispanic family had $38,000 in wealth. The typical white family had $184,000.
DIME students are given the tools and knowledge to reverse this trend and empower their communities to build meaningful wealth.