Many of the largest advisory firms have become politically active.

Back in the day, businesses didn’t get involved in politics. They knew that half their employees, investors, and customers would likely be offended by any political stance on racial issues, abortion, immigration, foreign wars, LGTBQ vs traditional family, 2nd amendment, or religion.

Well, that has all changed. Financial firms are placing political messages in advertising. Their executives are placing political messages in speeches. They are openly backing polarizing politicians. HR policies reflect political and moral stances.

In other words, if you are not coming from the right place values-wise, as an employee or customer, you are going to feel very uncomfortable, if not excluded ultimately.

Most of the activism has a left leaning bent.

The left has assumed control of most American businesses and institutions. This includes national government, academia, the media, the military, and yes, most large businesses including financial firms. This is partially because of global financial interests and partially because the leaders of these firms are trained at our elite universities, which are primarily liberal.

Many advisors are uncomfortable working in this environment.

As financial services businesses become increasingly political and more hostile to employees with conservative views, these financial advisors are quietly wondering what their options are. Should they keep quiet and hope they are not found out? Should they look for an organization that is apolitical to work with? Should they find a firm that is committed to the same values and principles they are? Should they start their own firm?

These are all valid questions the forward looking advisor should be asking to ensure their career success going into this polarized future.

Many clients are uncomfortable working in this environment.

Conservative advisors tend to have conservative clients. Some advisors are fielding calls from clients who have noticed that the firm where their advisor works for is openly taking political positions that are offensive to them. Sometimes the very custodian of the client’s money is guilty.

  • Clients are asking what’s going on. “What are you going to do about it?”, they will say. So, ultimately advisors are going to have to find a new home or risk losing clients and referrals.

The parallel, values-based economy is forming.

As the US splits and polarizes into the left and the right, the economy will evolve into a left-right paradigm where customers will be organized around values, much as the states themselves are polarizing into red and blue states. There aren’t a lot of evenly balanced states any more. Most folks are fleeing to states where the values of the citizens are closer to their own.

The same will be true of the places where people work and shop. Fox News was probably the first to serve conservatives exclusively and it should serve as a model for others.

Choice will also be offered in financial services. Already a pro-life bank is being formed and more like it are on the way.

As a financial advisor it is up to you to plot the course of your career and the well being of your clients. Be proactive.

Give us a call if we can help.