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UBS Partners with Diversity Recruitment Platform

May 25, 2018

Wirehouse UBS appears to be taking seriously the much-reported diversity gap in the financial services industry. The wirehouse has partnered with diversity career development and recruitment platform Jopwell, ThinkAdvisor writes.

Jopwell is aimed at “black, Latino, Hispanic and Native American students and professionals,” and helps facilitate connections for them to organizations that Jopwell partners with, Porter Braswell, the company’s CEO, tells the publication.

“To the credit of UBS, to think years ahead … they have to understand — which they do — that demographics are shifting,” he tells ThinkAdvisor. “You’re going to need to have a workforce that is inclusive of what this country looks like.”

UBS is the first wealth management company to do so, ThinkAdvisor claims. Emily de la Reguera, head of next generation advisor development at UBS, tells the publication that the brokerage is thinking about the coming “intergenerational wealth transfer that’s happening and the rise in demographics with people of color.”

(Getty)

UBS has also launched a new wealth manager development program, overseen by de la Reguera, aimed at ensuring a steady supply of young and “diverse” financial professionals, according to ThinkAdvisor. This includes a three-year training program that includes on-site and divisional training focusing on client acquisition, the publication writes.

By Alex Padalka
  • To read the ThinkAdvisor article cited in this story, click here.