First summit for Latino advisors launches ahead of FPA conference

A new, first-of-its-kind conference for Latino and Hispanic professionals in wealth management has been launched to coincide with the start of Hispanic Heritage Month in September. 

The SER Latin@ Advisor Summit, which is open to all Latino and Hispanic-identifying financial services professionals, along with those who are interested in wealth management careers, will debut on Sept. 26, according to a press release. It will be held at the Hyatt Regency in Phoenix — a separate but potential companion conference to the Financial Planning Association's annual gathering, which follows at the same location from Sept. 27 to Sept. 29.

"Embracing diversity and inclusivity strengthens our ability to effectively serve a broader client base," FPA President James Lee said in the release. "By collaborating, we can help ensure our profession reflects society and we are positively impacting all communities that can benefit from financial planning." 

The event comes as Latino and Hispanic professionals continue to gain ground in the industry, but at a painfully slow pace relative to their population growth in the U.S. The CFP Board reported in January that only 2.9% of certified financial planners identified as Hispanic. That's compared to 19% of Americans who identify as such, according to Pew Research Center.

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Those numbers are expected to keep growing. "It's not a demographic that any industry could ignore, but especially in our financial services industry — we are grossly underrepresented and underserved," SER organizer Ana Trujillo Limón said in an interview. 

Ana Trujillo Limón

Limón, the director of coaching and advisor content at Carson Group — an RIA based in Omaha — said she had known of only organizations that gathered Latino professionals in the broader financial professions, such as Association of Latino Professionals For America, but knew of no such event for "this subset of the financial services industry." 

"It's a hard thing to experience, when you just feel different," she said. "You feel out of place, you feel like your values don't necessarily align." Limón said that at other events she often gravitated toward Latino professionals, but there was no one conference where they could meet as a group. 

SER will offer a variety of workshops for financial advisors, those who work in wealth management in other capacities and those who want to become advisors. The events range from "Unlocking Latino Potential," to talks that focus on building entrepreneurial skills, to one on mental health and self-care. 

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The evening will be devoted to networking, and will include tapas, cocktails and a salsa lesson, according to the SER website. 

Diana Cabrices, a wealthtech marketing consultant who will be one of the speakers, said that for her, being invited to the event could not have been more timely. 

"My family was on the brink of celebrating a huge milestone for my immigrant mother, who after 50-plus years of living in this country, finally became a U.S. citizen," Cabrices wrote in an email. "I'm looking forward to soaking up all the culture and wisdom at the event, and getting inspired." 

Cabrices is the founder of Diana Cabrices Consulting. 

Limón said that the conference had been a dream of hers for many years. The event began to come together last fall, when she met co-organizer Vanessa N. Martinez, a veteran advisor, at a Carson Group Excell Conference and the two hit it off. 

Mike Henry

"We had so many stories to share," Martinez said. Martinez is the CEO and co-founder of the Em-Powered Network, a consulting and networking firm that specializes in helping professional women. 

The two women stayed in touch, and decided to make the conference happen. Limón put out a call for support on Twitter and several leaders in the Latino and Hispanic wealth management community reached out to offer help planning the event. 

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"SER" stands for "support, educate, recharge," according to the event website. In Spanish, the word "ser" means "to be," Martinez said — reflecting the conference's goal of creating unity and presence for Latino and Hispanic advisors. 

The goal of the conference is "truly just to build that community," Martinez said. "It doesn't exist today, as a clear concise place …  a place (where) you can feel comfortable and have somewhere to go … and have advocates for you and mentors."