We spoke with Broderick Young and Al Johnson, wealth management experts and founders of Reveal Wealth, about what it takes to be a better business leader in today’s world. Three things to focus on, they say: environment, empathy, and equity.

Read the full transcipt below.

Al: 
To leaders out there: I would say that they need to strive to make their environment the most comfortable environment and positive environment that they can. I heard a quote and Brod just brought it to my mind that said, “your environment is more important than your heritage.” As we look at and get a broader, or maybe even a better sense of the disparities, the gaps, the inequality that surrounds individuals in this country, I think it’s vitally important that leaders make sure that the environment that they create is one of exposure, is one of positivity, and one, one of hope for their, for their people. If they really want to make a difference, we can, you know, start there.

Broderick:
In a leadership role, I think it’s important to listen. These are people’s experiences. And recognizing that maybe you don’t know, and the reality that you did not know it, but there’s a segment of America that has had no choice but to know it. Right? They had to know this. This is like, when we talk about, as Al says, heritage and environment, this is not just their heritage, this has structured their environment right now. And not that demonizing anyone to say that, “Oh, it’s your fault that this happened.” But recognizing that, no, this is a person’s reality. This is affecting their current situation. And if you can do something at this point to help make that better, not a handout or, or anything, but can you help position them in a place where they can make that situation better? I think as a leader, that’s something you should consider doing.

Hannah: 
Yeah there’s no question, listening to your people. Everybody’s different, right? As a leader, part of your job is to figure out what makes different people tick and what are the different things that different people need to drive them to help you succeed what you’re trying to succeed as an organization. And it is, it takes a lot of listening. It takes a lot of back and forth, because you’re not necessarily gonna get it right on the first go, and recognize that there are so many people who may have grown up in constructs and structures that didn’t allow them to feel safe, to voice what may be getting in the way. So we’re working real hard to create that listening, and that space for listening and then taking action is one of the best things you can do right now.

Hannah: 
I’d love to hear from your perspective, how does the intersection of wealth management and corporate diversity really come to bear and what are some things that corporations could be doing to really drive that inclusion forward?

Broderick: 
I would, I would challenge people to really think, especially those leaders out there, when we talk about diversity and inclusion, I focus more on equity and productivity. 50 to 60% of employees spend at least three hours a week worried about their finances. 71% of them say that their financial situation worry impacts their daily workday. Right? You have a lot of individuals who are first generation grads, first generation people actually making good money, but don’t really know what to do with it, because of the reality that I don’t have the uncle that I can borrow $10,000 from. My mom, God bless her, but I can’t call her up and say, “Hey mom, I need $25,000 because X, Y, Z happened.” So there’s little room for me to make errors with what it is I’m doing and how I’m planning. Those nuances need to be taken into consideration and the education that employers can help give to their employees to mitigate those stresses would be invaluable.

Al: 
One of the things that leaders and employers can do to help even that playing field, so to speak, to make things equitable as much as they can is make the resources available. Right? So if you know a Broderick or, you know, someone else, like he said in a not as good of situation, did not have the financial knowledge or the financial wellness in order to make the proper decisions to help close said wealth gap or racial wealth gap that we’re, that we’re speaking of as an added benefit to the corporation, to their employees, maybe they could bring in a Reveal Wealth, right? So we can bring about diversity and inclusion through the utilization of financial literacy.

About Reveal Wealth:

Reveal Wealth, is a Maryland-based wealth management and financial planning firm. Their mission is to Reveal the strategies and financial tools that have been utilized throughout history to protect, accumulate, and ultimately distribute wealth. Learn more at werevealwealth.com.