Latest / The Steve Harvey Morning Show / Financial Tips: Financial Advisor and Diversity and Inclusive Specialist discuss how Black Entrepreneurship bridges racial wealth gap.

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Financial Tips: Financial Advisor and Diversity and Inclusive Specialist discuss how Black Entrepreneurship bridges racial wealth gap. · The Steve Harvey Morning Show

• 0:05
  Speaker 1: Welcome to the show. I am Rashan McDonald, the host
• 0:08
  Speaker 1: of Money Making Conversations Masterclass, where we encourage people to
• 0:11
  Speaker 1: stop reading other people's success stories and start planning their own.
• 0:16
  Speaker 1: Listen up as I interview entrepreneurs from around the country,
• 0:19
  Speaker 1: talk to celebrities and ask them how they are running
• 0:22
  Speaker 1: their companies, and speak with god profits who are making
• 0:25
  Speaker 1: a difference in their local communities. Now, sit back and
• 0:28
  Speaker 1: listen as we unlock the secrets to their success on
• 0:31
  Speaker 1: Money Making Conversations Masterclass. Hi, I am Rashan McDonald. I
• 0:36
  Speaker 1: host this weekly Money Making Conversation Master Class show. The
• 0:39
  Speaker 1: interviews and information that this show provides are for everyone.
• 0:42
  Speaker 1: It's time to start reading other people's success stories and
• 0:45
  Speaker 1: start living your own. I'm here to help you reach
• 0:48
  Speaker 1: your American dream. My guests today are discussing how black
• 0:52
  Speaker 1: entrepreneurship is a solution to bridging the racial wealth gap.
• 0:57
  Speaker 1: One is a financial advisor and the others are Diversity
• 1:00
  Speaker 1: an inclusion specialist for Northwestern Mutual. The racial wealth gap
• 1:04
  Speaker 1: refers to the disparity and assets of typical households across
• 1:08
  Speaker 1: race and ethnicity. Please welcome to the show from north
• 1:12
  Speaker 1: Western Mutual. Alel Castro and Travis May Senior. Welcome to
• 1:16
  Speaker 1: Money Making Conversation Team. Thanks Travis, you are the financial advisor. Yes, sir, okay,
• 1:24
  Speaker 1: out of the box. I'm gonna tell you explain to
• 1:26
  Speaker 1: my audience what is the racial gap? I mentioned it
• 1:29
  Speaker 1: in a defined tone, but I'm sure when you're talking
• 1:32
  Speaker 1: to everyday people, it's not as a dictionary field.
• 1:37
  Speaker 2: Yeah. So the racial wealth gap is the difference between
• 1:46
  Speaker 2: the financial difference between where Black people are today and
• 1:50
  Speaker 2: where other communities of majority exist and operating today when
• 1:59
  Speaker 2: it comes to racial disparity or wealth disparity. To be honest, Rashan,
• 2:04
  Speaker 2: we use that term racial wealth gap. I don't necessarily
• 2:09
  Speaker 2: think that the racial wealth gap can be closed. That
• 2:14
  Speaker 2: would mean that those who are in the majority and
• 2:17
  Speaker 2: who have the wealth are going to stop doing what
• 2:20
  Speaker 2: they're doing to obtain the wealth. I do think, Rashon,
• 2:25
  Speaker 2: that in the Black community and African American community, that
• 2:29
  Speaker 2: we can make strides in closing that racial wealth gap disparity,
• 2:35
  Speaker 2: and basically what it is is, uh the lack of
• 2:39
  Speaker 2: resources that are available to us as African Americans. Financial resources,
• 2:45
  Speaker 2: educational resources, all of these things play a major role
• 2:51
  Speaker 2: in our ability to move up the ladder and when
• 2:56
  Speaker 2: it when it comes to finances and you know, pass
• 3:00
  Speaker 2: generational weve down from one generation to the next, you.
• 3:03
  Speaker 1: Know, because you know, thank you for that update. Because
• 3:06
  Speaker 1: there are a lot of bug buzzwords generational wealth. I
• 3:08
  Speaker 1: hear that a lot on this show, the racial wealth gap.
• 3:11
  Speaker 1: The head on the show now three words, I hear
• 3:13
  Speaker 1: a lot on this show, Miss Castro. Diversity Equity and
• 3:17
  Speaker 1: Inclusion DEI, which has been under a tremendous amount of
• 3:22
  Speaker 1: political attacks, community attacks. It made it very racial when
• 3:28
  Speaker 1: it comes to even the vice president has been called
• 3:32
  Speaker 1: adi placement and her role as vice president? What is
• 3:37
  Speaker 1: your role? You are specialists? Explain to us. Maybe I'm
• 3:41
  Speaker 1: not asking you to tell us why it's under attack,
• 3:44
  Speaker 1: but what are the necessary needs of having your role
• 3:48
  Speaker 1: or having a specialist at a company for DEI?
• 3:51
  Speaker 3: Absolutely so, diversity, equity and inclusion is very important for
• 3:58
  Speaker 3: businesses to match the communities for which they sit in
• 4:02
  Speaker 3: and which they serve. So that is the core focus
• 4:05
  Speaker 3: of the work that I do. The great thing about
• 4:08
  Speaker 3: Northwestern Mutual is we have doubled down on DEI in
• 4:13
  Speaker 3: a time where a lot of companies are pulling back
• 4:16
  Speaker 3: out of fear of cancel culture, out of fear of
• 4:21
  Speaker 3: any sort of negative connotation with doing work that includes
• 4:27
  Speaker 3: people who may not look like the people who sit
• 4:29
  Speaker 3: at the tops of these boards or who run these businesses.
• 4:33
  Speaker 3: So I'm just blessed to be at a company that
• 4:37
  Speaker 3: has supported DEI efforts and has really doubled down at
• 4:42
  Speaker 3: a time where we were where we have started going backwards.
• 4:46
  Speaker 1: We really have And that's why I thought it was
• 4:48
  Speaker 1: important to have both of you guys, because basically in
• 4:50
  Speaker 1: this battle, it does involve you know, the Financial Advisor
• 4:55
  Speaker 1: brand awareness. Because you made an understatement traverse their racial
• 4:59
  Speaker 1: wealth gain, it's not going to close. Why would I
• 5:01
  Speaker 1: stop making money? Why would I just okay? And I'm
• 5:03
  Speaker 1: gonna give you opportunity to catch me. My goal is
• 5:06
  Speaker 1: to keep making money. I always tell people Bill Gates
• 5:08
  Speaker 1: is trying to get more billions. You know, Elon Munks
• 5:11
  Speaker 1: wants to be He wants to retain that title of
• 5:13
  Speaker 1: being the richest man in the world, which I would
• 5:15
  Speaker 1: like to have that title too. That means I got
• 5:17
  Speaker 1: a lot of work to do, and that means I'm
• 5:19
  Speaker 1: not gonna close that racial gap. Winning the lottery and
• 5:22
  Speaker 1: with that being said, entrepreneurship is not to me, it's
• 5:27
  Speaker 1: the laying. It's the lane of trying to change generational lifestyles.
• 5:32
  Speaker 1: Because you can't pass your job to your son. You
• 5:35
  Speaker 1: can't pass technically, you can't pass your job to your doctor,
• 5:38
  Speaker 1: your doctor. You can't just make your daughter be a
• 5:41
  Speaker 1: doctor or your son be a doctor, or your nephew
• 5:43
  Speaker 1: be a doctor. That's a learned crap. But if you
• 5:46
  Speaker 1: have a bakery, if you have a business, you can't
• 5:50
  Speaker 1: pass that business to someone in your family. Talk to
• 5:53
  Speaker 1: us about that traffsy, because I think that's very important.
• 5:56
  Speaker 1: We talking about just wealth building. That's what we want
• 5:59
  Speaker 1: to talk about in the show well building.
• 6:02
  Speaker 2: Yeah, I think it's important that in our community we
• 6:05
  Speaker 2: have those those success stories, in those staples to follow
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  Speaker 2: successful black owned businesses service role models. They show the
• 6:17
  Speaker 2: younger generation that, you know, financial independence is possible, and
• 6:22
  Speaker 2: so they provide the real examples of wealth creation which
• 6:26
  Speaker 2: foster that culture of entrepreneurship and empowerment. And so I
• 6:32
  Speaker 2: think it's really important that first and foremost we got
• 6:37
  Speaker 2: to read and get educated as a culture. You know
• 6:41
  Speaker 2: what they say, if you want to hire something from
• 6:42
  Speaker 2: a black man, you got to put it in a book.
• 6:44
  Speaker 2: And so the long term wealth building requires a combination
• 6:49
  Speaker 2: of access to capital. It requires ongoing mentorship and a
• 6:54
  Speaker 2: prioritization as you say with Sean of financial planning at
• 6:58
  Speaker 2: every stage in life, not just in one stage or another.
• 7:04
  Speaker 2: And so that's that's one thing that entrepreneurship helps helps
• 7:10
  Speaker 2: us accomplish in our community, right is that transition of assets,
• 7:14
  Speaker 2: That transition of I mean that that that passing down
• 7:17
  Speaker 2: of businesses and other assets that can help us thrive
• 7:21
  Speaker 2: in the future.
• 7:22
  Speaker 1: Well, you know, it's really interesting because I've been involved
• 7:25
  Speaker 1: in small business uplift I like to call it with
• 7:28
  Speaker 1: you know, just to do the Neighborhood Awards was Steve Harrier,
• 7:30
  Speaker 1: where we will promote local business whether you was uh,
• 7:34
  Speaker 1: you know, car wash owner, or high schools and churches
• 7:38
  Speaker 1: because all these feed into motivating change in the community.
• 7:43
  Speaker 1: And that's important when we see changing the community. And
• 7:45
  Speaker 1: when I talk to you, Ms. Catastrop, community voices because
• 7:50
  Speaker 1: you are community voice, like you just you really stood
• 7:53
  Speaker 1: up to reach out. We're not going anywhere. I love that.
• 7:56
  Speaker 1: I love you had a fire in your voice that
• 8:00
  Speaker 1: you are the attack. I'm telling those words that you
• 8:03
  Speaker 1: represent a one hundred percent been on attack. I've seen
• 8:07
  Speaker 1: the shift in my business. I am a minority owned business.
• 8:11
  Speaker 1: I've seen companies that had me at the front of
• 8:14
  Speaker 1: their plate. During the George Floyd I was eating off
• 8:17
  Speaker 1: that but I was eating big time girl, And then
• 8:19
  Speaker 1: all of a sudden, I've seen those portions in that
• 8:22
  Speaker 1: plate get smaller and smaller and smaller the further we've
• 8:26
  Speaker 1: gotten away from the George Floyd situation.
• 8:29
  Speaker 4: Please don't go anywhere. We'll be right back with more
• 8:33
  Speaker 4: money Making Conversations Masterclass. Welcome back to the Money Making
• 8:45
  Speaker 4: Conversations Masterclass, hosted by Rashaan McDonald. Money Making Conversations Masterclass
• 8:51
  Speaker 4: continues online at Moneymakingconversations dot com and follow money Making
• 8:56
  Speaker 4: Conversations Masterclass on Facebook, Twitter, and Instagram.
• 9:01
  Speaker 1: Now you said what you said, You're company Northwestern Mutual.
• 9:04
  Speaker 1: We're not going anywhere. How do you get that story
• 9:07
  Speaker 1: to the community.
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  Speaker 3: Absolutely, I think doing events such as community conversations and
• 9:14
  Speaker 3: really explaining what Northwestern Mutual does from a brand perspective,
• 9:19
  Speaker 3: but also how we support our diverse advisors and our
• 9:23
  Speaker 3: diverse communities helps communicate that story right. So that was
• 9:28
  Speaker 3: born out of a strategic initiative that we call SARE internally,
• 9:32
  Speaker 3: which stands for Sustained Action for Racial Equity. This is
• 9:37
  Speaker 3: something that did begin around twenty twenty where our CEO
• 9:42
  Speaker 3: did make a statement saying that this is something that
• 9:44
  Speaker 3: we're going to invest in. The difference with our organization
• 9:48
  Speaker 3: is that he has continued to invest in it even
• 9:53
  Speaker 3: past the times of media coverage on social unrests and
• 9:57
  Speaker 3: social injustices. So this event was born out of that initiative,
• 10:04
  Speaker 3: as well as many others. We have an accelerator program,
• 10:07
  Speaker 3: we have mentorship programs, and we have strategic initiatives to
• 10:12
  Speaker 3: really get more involved in the black community and reinvesting
• 10:18
  Speaker 3: in the black community.
• 10:19
  Speaker 1: And you was referencing, and I want to stay on
• 10:22
  Speaker 1: her for a minute, mister May before I get back
• 10:24
  Speaker 1: to her, because this is where, you know, if I
• 10:28
  Speaker 1: get heated in this whole world of trying to make
• 10:31
  Speaker 1: a change in the Black community, it's in the DEI
• 10:34
  Speaker 1: because I see it being very racial. I see it
• 10:38
  Speaker 1: being it demeans us like we're asking for a handout.
• 10:41
  Speaker 1: And I say us because I'm an African American and
• 10:44
  Speaker 1: all I want is an equal opportunity to participate. That's
• 10:49
  Speaker 1: all I want a shot at participating. Now you mentioned
• 10:53
  Speaker 1: some programs, how does one access those programs at your
• 10:58
  Speaker 1: company as an individual as well as a corporation or
• 11:02
  Speaker 1: a small business.
• 11:05
  Speaker 3: I would highly suggest reaching out to your local Northwestern
• 11:09
  Speaker 3: Mutual office. So we operate off of network offices here
• 11:13
  Speaker 3: in Atlanta. We have two of them. I represent one
• 11:17
  Speaker 3: of them, called the Callaway Black Group. We sit in Finding, Georgia,
• 11:22
  Speaker 3: but our reach expands over all of Metro Atlanta. Reaching
• 11:27
  Speaker 3: out to us, letting us know what your career goals are,
• 11:31
  Speaker 3: whether you are looking to become an advisor, or you
• 11:35
  Speaker 3: are an entrepreneur and you're looking to pair with an
• 11:37
  Speaker 3: advisor to help you create a financial plan for your business.
• 11:41
  Speaker 3: Reaching out to us and seeing how we can partner
• 11:45
  Speaker 3: together to help you achieve your financial goals. It's really
• 11:48
  Speaker 3: that simple. I have had people reach out to me
• 11:51
  Speaker 3: on social media. I've had people reach out to me
• 11:54
  Speaker 3: out at events, you know, different client events and networking
• 12:00
  Speaker 3: events and asking me more about what we do. A
• 12:02
  Speaker 3: lot of times in the black community, when they hear
• 12:04
  Speaker 3: of Northwestern Mutual, they just think life insurance. They don't
• 12:08
  Speaker 3: understand that we do holistic financial planning. So we're so
• 12:13
  Speaker 3: much more than life insurance. We do planning, We do
• 12:17
  Speaker 3: community engagement and investment right back to the communities that
• 12:21
  Speaker 3: we sit in. So really just getting in contact with us,
• 12:25
  Speaker 3: your or your local network office to learn more about
• 12:29
  Speaker 3: how you can be a part of that.
• 12:31
  Speaker 1: Now, Travis, she said a key word that you brought
• 12:34
  Speaker 1: up earlier financial planning, because there's two words that really
• 12:38
  Speaker 1: in the small business community we forget is financial planning
• 12:43
  Speaker 1: and budget. We want to start a business, we got
• 12:46
  Speaker 1: a great idea, We're going to open the doors and
• 12:48
  Speaker 1: we automatically think the customer is going to come in,
• 12:51
  Speaker 1: or you go to the flee market and all your
• 12:53
  Speaker 1: products is going to be sold. There's no budget of
• 12:56
  Speaker 1: financial planning. Now, going back to you, that's what I'm
• 12:59
  Speaker 1: about between the two of y'all in this interview, because
• 13:02
  Speaker 1: each one of you kind of like explains why the
• 13:04
  Speaker 1: other one exists or the need for the other person.
• 13:07
  Speaker 1: Because I've contacted her, she's mentioned financial planning. I'm a
• 13:11
  Speaker 1: small business. Now I'm talking to you, Travis. You're going
• 13:14
  Speaker 1: to be at the event meeting people personally, but what
• 13:17
  Speaker 1: exactly is your role and explain in detail from the
• 13:20
  Speaker 1: financial side what Northwestern Mutual does.
• 13:25
  Speaker 2: Yeah, So I'll start by saying, when we're first introduced
• 13:30
  Speaker 2: to people, they tell us that they've done some great
• 13:34
  Speaker 2: planning already, all right, they have saved in retirement accounts,
• 13:38
  Speaker 2: they've invested money, they might even purchase some insurance at
• 13:42
  Speaker 2: some point. But even having done all of these things,
• 13:46
  Speaker 2: they will still look me in my eye and tell me, Travis,
• 13:49
  Speaker 2: I'm not really sure how these things are supposed to
• 13:52
  Speaker 2: tie together within a plan, or I'm not sure if
• 13:56
  Speaker 2: what I'm doing is enough. And what we find ra Sean,
• 13:59
  Speaker 2: is that it's most often because of time. Okay, most
• 14:02
  Speaker 2: people are working full time in their careers or their businesses.
• 14:05
  Speaker 2: I'm sure you can attest to that. And then they
• 14:07
  Speaker 2: also have families to grow and spend time with, and
• 14:11
  Speaker 2: so it's easy to understand how financial planning falls to
• 14:15
  Speaker 2: the bottom of the to do list and so and
• 14:18
  Speaker 2: seeing that so frequently, it's become the mission of my
• 14:21
  Speaker 2: practice to help people take a step off that treadmill
• 14:24
  Speaker 2: of life and to help them make active and conscious
• 14:28
  Speaker 2: and meaningful decisions around whatever they tell me is important
• 14:33
  Speaker 2: to them. And I like to use sports analogies with
• 14:35
  Speaker 2: Shaun when I'm describing how we do that, and so
• 14:40
  Speaker 2: we help people with their offensive and their defensive financial
• 14:44
  Speaker 2: planning strategies. The offensive planning Rashan is saving for whatever
• 14:50
  Speaker 2: people say is important to them. A lot of people
• 14:52
  Speaker 2: say retirement, or their children's education, or to pass along
• 14:57
  Speaker 2: future wealth to generations, whatever the case may be. I personally,
• 15:02
  Speaker 2: I can't speak for anyone else, but I personally take
• 15:04
  Speaker 2: an educational approach. I make sure that my clients are
• 15:08
  Speaker 2: educated about how things work and ultimately what the opportunities
• 15:13
  Speaker 2: and possibilities are, because I think in any aspect, when
• 15:17
  Speaker 2: we're more educated, or the better educated we are, the
• 15:20
  Speaker 2: better decisions will make. When you know better, you'll do better.
• 15:23
  Speaker 2: The second focus re Shaun is on tax efficiency. I
• 15:27
  Speaker 2: have clients cutting five, six, seven figure checks to the
• 15:30
  Speaker 2: IRS every year, and the way that they describe that
• 15:32
  Speaker 2: is painful. So we help with strategies to minimize taxes,
• 15:38
  Speaker 2: not just on today's dollars like your CPA would do,
• 15:41
  Speaker 2: but on dollars that they may not see or touch
• 15:44
  Speaker 2: for the next twenty, thirty or forty years. And then
• 15:47
  Speaker 2: on the defensive side of the ball, that involves talking
• 15:51
  Speaker 2: about things that we don't necessarily like to talk about,
• 15:54
  Speaker 2: or that aren't as fun to talk about, but it's
• 15:57
  Speaker 2: crucial to discuss and address plan for if we're talking
• 16:01
  Speaker 2: about doing true financial planning. And so this is evaluating
• 16:04
  Speaker 2: the what ifs of our client's lives. What if someone
• 16:08
  Speaker 2: passes away unexpectedly? Right, what if I get sick or
• 16:13
  Speaker 2: you get sick and can't work and earn an income,
• 16:17
  Speaker 2: or what if someone close to you needs some type
• 16:20
  Speaker 2: of extended care for an extended period of time. And
• 16:23
  Speaker 2: so those are the areas that we try to wrap
• 16:27
  Speaker 2: people's minds around and get them thinking deeper about when
• 16:30
  Speaker 2: it comes to financial planning and just crossing all the
• 16:33
  Speaker 2: t's and dotting all the o's.
• 16:35
  Speaker 1: You know, a really interesting thing about this, how do
• 16:37
  Speaker 1: we get in touch with your side of the table?
• 16:40
  Speaker 1: You know you not saying you know, I'm putting you
• 16:44
  Speaker 1: on the spot. She said, the local Northwestern Mutual. You
• 16:47
  Speaker 1: know that seems so that seems so unattainable. I'm trying
• 16:51
  Speaker 1: to personalize this conversation because I think that that's what
• 16:54
  Speaker 1: goes wrong because I do a lot of these interviews
• 16:57
  Speaker 1: on my show Money Making Conversation master Class, and I
• 17:01
  Speaker 1: know there are a lot of opportunities, from the SBA
• 17:04
  Speaker 1: to the National Minority Supply to Development Council, But it
• 17:07
  Speaker 1: still seems like it's unattainable, It's unreachable, and it always
• 17:10
  Speaker 1: feels like it should be a line out the door
• 17:13
  Speaker 1: at the door for this conversational event, it's the third
• 17:16
  Speaker 1: one that you're having. But then I go there, It'll
• 17:19
  Speaker 1: be well attended, but I should be like more people
• 17:22
  Speaker 1: should know. How do we How do we get there? Travis?
• 17:27
  Speaker 1: How do we get there? You know? I know this helps,
• 17:30
  Speaker 1: but this is only one small stage of helping. How
• 17:34
  Speaker 1: do we get there? Brother?
• 17:36
  Speaker 2: Yeah, Well, we can only do so much from our seat. Right,
• 17:39
  Speaker 2: we put on events like community conversations, an individual advisor.
• 17:45
  Speaker 2: I know for myself, we do speaking engagements, right. We
• 17:48
  Speaker 2: partner with organizations like the Urban League. We're out in
• 17:53
  Speaker 2: the community, We're out at events that are being hosted
• 17:57
  Speaker 2: around the city and national and the lead for that matter.
• 18:01
  Speaker 2: But when you talk about how to connect with a
• 18:04
  Speaker 2: specific or given advisor, you first have to take A
• 18:07
  Speaker 2: person has to take an initiative. Most of the people
• 18:11
  Speaker 2: that I connect with are introductions that are made right,
• 18:17
  Speaker 2: So very seldom are people wanting or desiring to do
• 18:22
  Speaker 2: financial planning because they met me at an event. That's
• 18:27
  Speaker 2: just been my experience. Most of the people that I
• 18:30
  Speaker 2: connect with are introductions, very warm introductions. I work with
• 18:35
  Speaker 2: their mom, their dad, their coworker, their colleague, their brother,
• 18:38
  Speaker 2: their sister, and they say, Hey, this is the advisor
• 18:42
  Speaker 2: I'm working with. We've been having some great conversations doing
• 18:44
  Speaker 2: some great work. I think you should have a conversation
• 18:46
  Speaker 2: with them. And what we find is that when we're
• 18:50
  Speaker 2: introduced to people that way, it's a bit more sticky.
• 18:55
  Speaker 2: Those people tend to value the work that we do
• 18:58
  Speaker 2: and the time that we spend together a lot more
• 19:00
  Speaker 2: than someone coming across me at a at an event
• 19:04
  Speaker 2: where it might seem quite generic at an event.
• 19:07
  Speaker 1: To be honest, we're talking to Part three Community Conversation,
• 19:10
  Speaker 1: how black entrepreneurship is bridging the racial gap. I'm speaking
• 19:14
  Speaker 1: to Lay Castro and Travis may Senor. Travis May Senior
• 19:18
  Speaker 1: is a financial advisor, a little Castro is a diversity
• 19:21
  Speaker 1: inclusion specialist. A Layer ms Castro. Help me so I
• 19:29
  Speaker 1: can just start telling people to start kicking rocks when
• 19:32
  Speaker 1: they start bringing up anti DEI conversations. Help me out
• 19:37
  Speaker 1: give me give me some marching, or to give me
• 19:38
  Speaker 1: some statements, says an individual, because I am so tired,
• 19:44
  Speaker 1: turned on the read the newspaper. Get a little notification
• 19:48
  Speaker 1: it's a movie right now, that's that's anti DEI. I
• 19:53
  Speaker 1: want to tell them how to kick rocks. The floor
• 19:55
  Speaker 1: is yours.
• 19:56
  Speaker 3: I mean, this is not anything that's new. Right, Everything
• 20:00
  Speaker 3: history repeats itself. You know, some of this was happening
• 20:04
  Speaker 3: after the civil rights movements in the sixties. Right, it's
• 20:09
  Speaker 3: just backlash to progression. But what I always refer back to,
• 20:14
  Speaker 3: which is one of my core beliefs, is the work
• 20:17
  Speaker 3: that I do in diversity, equity and inclusion is about
• 20:22
  Speaker 3: human rights. Right. It's about respect for humans, love for
• 20:25
  Speaker 3: human beings, caring about people who are not able to
• 20:30
  Speaker 3: live their lives and thrive in a healthy or safe way. Period.
• 20:35
  Speaker 3: I think if you can kind of refer back to
• 20:38
  Speaker 3: that as a core value, then what it looks like
• 20:42
  Speaker 3: or what acronyms are associated with it kind of fall
• 20:45
  Speaker 3: to the wayside and you just get involved and do
• 20:47
  Speaker 3: the work. That's actually something that I find myself having
• 20:52
  Speaker 3: conversations about in the corporate environment often is well, what
• 20:56
  Speaker 3: are we going to call it to make it digestible
• 20:58
  Speaker 3: for people. I am someone who doesn't care too much
• 21:02
  Speaker 3: about what names are or what the branding is. I
• 21:05
  Speaker 3: care about the work that's getting done and the people
• 21:08
  Speaker 3: that are being helped. So just referring back to the
• 21:11
  Speaker 3: core value of caring about human beings and human rights,
• 21:16
  Speaker 3: then you can't go wrong.
• 21:18
  Speaker 1: Awesome, Awesome, we know when I've been educated on the show,
• 21:22
  Speaker 1: Northwestern Mutual is more than just a life insurance company.
• 21:27
  Speaker 1: Financial advice is being given there when I say that, Travis,
• 21:31
  Speaker 1: being that you are a financial institution such as you
• 21:34
  Speaker 1: are with north Western Mutual, supporting black entrepreneurship, accessing the
• 21:38
  Speaker 1: funds and resources they need to grow. Like you said,
• 21:42
  Speaker 1: people who usually come see you or organized, but they
• 21:45
  Speaker 1: still are. Some are paying taxes they shouldn't be paying.
• 21:49
  Speaker 1: Walk us through some steps and establishing a relationship with
• 21:53
  Speaker 1: Northwestern Mutual.
• 21:55
  Speaker 2: Yeah, well, I can't speak for establishing a relationship with
• 21:57
  Speaker 2: Northwestern Mutual, but I could definitely speak on establishing a
• 22:00
  Speaker 2: relationship with myself as a as.
• 22:01
  Speaker 1: A financial advisor and mutual.
• 22:07
  Speaker 2: I am. But I guess if I could add some
• 22:09
  Speaker 2: context to that, we operate similar to like how realtors operate.
• 22:12
  Speaker 1: Okay, So a realtor will.
• 22:14
  Speaker 2: Hang their license with a brokerage, so, so to speak,
• 22:18
  Speaker 2: to simplify it, I chose to partner with a Fortune
• 22:21
  Speaker 2: one hundred company to build my financial planning practice, become
• 22:26
  Speaker 2: part of the solution, and give the people that I serve,
• 22:29
  Speaker 2: which happen to be majority of people who look like me,
• 22:31
  Speaker 2: access to some of the best resources that are out there.
• 22:35
  Speaker 2: So from that, that's the perspective on that. But what
• 22:39
  Speaker 2: does it look like in establishing a relationship generally, what
• 22:44
  Speaker 2: it looks like for me? I'm just walk you through
• 22:45
  Speaker 2: what that looks like. I'm on a call with somebody
• 22:47
  Speaker 2: and at the end of the call, they say, Travis,
• 22:50
  Speaker 2: you got to meet so and so, you got to
• 22:51
  Speaker 2: meet x y Z. They give me x y Z
• 22:54
  Speaker 2: and so and so's contact information, and I reach out
• 22:57
  Speaker 2: and I simply reach out to introduce myself, share with
• 23:01
  Speaker 2: them that we have a familiar relationship with X, Y
• 23:06
  Speaker 2: and Z and that they thought you would find value
• 23:09
  Speaker 2: in having a conversation. And so I'm simply calling to
• 23:12
  Speaker 2: introduce myself and see if we could carve out some
• 23:14
  Speaker 2: time sometime in the next week or two to have
• 23:17
  Speaker 2: a conversation, and in that first conversation, Rashan, that is
• 23:21
  Speaker 2: the relationship establishing conversation. I firmly believe that I'm not
• 23:26
  Speaker 2: in a position to tell anybody about what they should
• 23:29
  Speaker 2: be doing with their finances, with their money if I
• 23:32
  Speaker 2: don't know them personally, if I don't know what their
• 23:35
  Speaker 2: goals are, if I don't know what they're trying to achieve.
• 23:38
  Speaker 2: And so that first meeting, that first conversation is simply
• 23:42
  Speaker 2: about understanding what that person is looking to accomplish, understanding
• 23:47
  Speaker 2: where they are financially, and then where do we align.
• 23:51
  Speaker 2: Because I be honest, I sit down and have those
• 23:53
  Speaker 2: conversations with people, and I can't help everybody, right, but
• 23:57
  Speaker 2: then there are people who I can, And so the
• 24:00
  Speaker 2: goal of that initial conversation is just to find where
• 24:02
  Speaker 2: the synergy is, where the opportunity is, and how we
• 24:05
  Speaker 2: can fill avoid.
• 24:07
  Speaker 1: Well, it was really important that we're having this conversation,
• 24:10
  Speaker 1: you know from h you know, people of color, African Americans,
• 24:14
  Speaker 1: UH dealing with a situation called the racial wealth gap,
• 24:17
  Speaker 1: which I think is one of those terms it's overused,
• 24:20
  Speaker 1: you know, like branding, like terminology you hear so much.
• 24:24
  Speaker 1: You kind of like go what is that? You know,
• 24:26
  Speaker 1: just we just realized it was announced the other day
• 24:29
  Speaker 1: that the gender pay gap has widened, you know, over
• 24:33
  Speaker 1: the years. So that means that there's always going to
• 24:36
  Speaker 1: be a challenge. There's alway going to be a challenge.
• 24:37
  Speaker 1: When I walk in the door ms Castro and people
• 24:40
  Speaker 1: are automatically know I'm a person of color. I can't
• 24:42
  Speaker 1: hide that fact, which means that I'm always being stereotyped immediately,
• 24:48
  Speaker 1: whether I want to or not. Whether I got a
• 24:50
  Speaker 1: suit on, somebody might question where I get this suit,
• 24:53
  Speaker 1: whether whether I walk or laugh out loud, they might
• 24:57
  Speaker 1: make it. Does he does? He does? He does? He
• 25:00
  Speaker 1: know where he's at laughing at loud. So I've been
• 25:04
  Speaker 1: dealing with that all my life and I've been successful.
• 25:07
  Speaker 1: But I've been successful with a caveat the color of
• 25:11
  Speaker 1: my skin. Your role in diversity, in conclusion and inclusion,
• 25:17
  Speaker 1: being a specialist, what's the end results, what's the ultimate
• 25:20
  Speaker 1: game for you?
• 25:22
  Speaker 3: The ultimate game for me is to give voice to
• 25:27
  Speaker 3: those that are disadvantage, to reinvest in the communities of
• 25:32
  Speaker 3: people that are disadvantaged, To create an internal culture that
• 25:36
  Speaker 3: makes diverse people feel like they can bring their whole
• 25:40
  Speaker 3: selves to work. A lot of times when we come
• 25:42
  Speaker 3: to work, we bring part of ourselves, right, You don't
• 25:45
  Speaker 3: want to expose too much of your self for fear
• 25:48
  Speaker 3: that you might be retaliated against in your employment. I
• 25:53
  Speaker 3: want to create a culture that allows you and I
• 25:55
  Speaker 3: have been able to create a culture that allows you
• 25:57
  Speaker 3: to fully be yourself at work every day and discuss
• 26:02
  Speaker 3: things that you may not be able to discuss anywhere else,
• 26:06
  Speaker 3: such as experiencing microaggressions like you mentioned. But at the
• 26:11
  Speaker 3: end of the day, it's about the impact on these
• 26:14
  Speaker 3: communities that we sit in that mean the most to me,
• 26:19
  Speaker 3: especially within the Black and African American community, which is
• 26:23
  Speaker 3: why doing community events like Community Conversations is so important,
• 26:28
  Speaker 3: really supporting black entrepreneurs locally. But also to what Travis
• 26:34
  Speaker 3: mentioned earlier, our advisors operate as entrepreneurs themselves, so it's
• 26:39
  Speaker 3: layered and it's an honor to be able to support
• 26:44
  Speaker 3: and invest in black entrepreneurs here in Atlanta, and I
• 26:47
  Speaker 3: hope to do so for the foreseeable future.
• 26:51
  Speaker 1: I love it. I love it. I want to thank
• 26:52
  Speaker 1: you guys for coming on my show talking about Part three,
• 26:56
  Speaker 1: Community Conversations, How Black entrepreneurship is bridging the wealth gap.
• 27:01
  Speaker 1: This is part three Community conversation, how Black entrepreneurship is
• 27:04
  Speaker 1: bridget a racial wealth gap. Thank you both for coming
• 27:07
  Speaker 1: on Money Making Conversation, massacret It was enjoyment, enjoyable to
• 27:11
  Speaker 1: have it on this conversation with two people who are
• 27:13
  Speaker 1: trying to make a difference in our community.
• 27:15
  Speaker 3: Thank you so much for the opportunity.
• 27:18
  Speaker 2: Absolutely man likewise, Thank you for Sean.
• 27:21
  Speaker 1: This has been another edition of Money Making Conversation Masterclass
• 27:24
  Speaker 1: hosted by me Rashaun McDonald. Thank you to our guests
• 27:27
  Speaker 1: on the show today and thank you listening to audience now.
• 27:31
  Speaker 1: If you want to listen to any episode I want
• 27:33
  Speaker 1: to be a guest on the show, visit Moneymakingconversations dot com.
• 27:36
  Speaker 1: Our social media handle is money Making Conversation. Join us
• 27:40
  Speaker 1: next week and remember to always leave with your gifts.
• 27:43
  Speaker 1: Keep winning.