When we started Altruist we had a mission to make financial advice better, more affordable, and accessible to all. That hasn’t changed and this mission has never been more important.
The wealthiest 1% of the population has never been wealthier, controlling nearly 30% of all assets. The bottom 50% only own 5.8% in aggregate. Systemic racism has and continues to contribute to this inequity (and many others).
There is nothing more important than equal treatment for all. As people, we are failing in this. The killings of George Floyd, Breonna Taylor, and Ahmaud Arbery are the latest in countless deaths to black people because of the color of their skin. Like many others, I’m infuriated and saddened. Racism, hatred, inequality, and police violence must end, and we all need to do our part.
After sitting with myself over the last few days I realize I can do better, and as a company, we can do better. We need to do better for people of color in our company, community, and industry. We need to make more than a timely statement or social media post. We need to make a long term commitment to create a future where black people don’t have to live life in fear, judgment, or prejudice. We need to lift up the strong leaders of black finance and empower them. Altruist has zero-tolerance for unequal treatment of black people or any race. However, we have a responsibility to get better.
This is no time to fear rising up. We should embrace the challenge of fixing a system that has been working against black people for hundreds of years. If we aren’t fixing it, we are allowing it to continue, and that’s not something we can live with.
Over the past week, we’ve started this process, but there is so much more to do. We’re engaging our team to help find ways we can get involved, as this battle will take an army. We’re identifying organizations we can support with both time and financial resources. We are building a long term plan to help black business owners in our field so we can change our industry for the better. As our Head of Community Tyrone Ross would say, we are getting proximate.
What we need to do as a country is going to be hard, but the results will be worth it. Change needs to start right now. Altruist will be a leader for change in our industry. Please join us.
Here are some recommended organizations to support:
The Policy Equity Group
Black Lives Matter
Wall Street Bound, Inc