Financial Needs of the African American Community

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Needs of the AFrican american communityThese days, making the right financial decisions is key to navigating the wavering waters of personal finance. And according to research found in a financial series produced by Prudential Financial group, “it’s not all about the dollar,” but rather meeting the specific needs of each community.

In a report on NY1.com, Michele Green vice president and chief diversity officer at Prudential Financial Inc., says, “Unless we understand what those needs are, we can’t serve the communities.”????

The series indicates that while African Americans are confident in making financial decisions, those decisions are often made without the advice of financial advisers.

On the flip side, outreach is sorely lacking in African American communities. These communities are 13 percent less likely to be contacted by a financial adviser compared with other groups.

Read more at NY 1.