Charles Paikert, Investment News
- The election of Barack Obama may alter the historic reluctance of blacks to participate in the financial markets, say prominent African-American executives at financial service firms, consultants and academics.
“I think Obama’s election will have a resounding impact on the way blacks look at the markets,” said Steven Sanders, chief executive and founder of First Genesis Financial Group Inc., a Newtown Square, Pa.-based advisory firm. “For an African-American, it’s an affirmation that opportunities do exist for you. The concept of ‘Yes, we can’ really does resonate.”
“I have felt and seen how that message resonates in conversations with people,” said Lee Baker, president of Apex Financial Services Inc., an advisory planning firm in Tucker, Ga.
“I think the feeling people have that ‘maybe I can get a fair shake’ can translate to the financial arena,” said Mr. Baker, who is also on the national board of directors of the Denver-based Financial Planning Association.
