Financial services and the African-American market

what every financial planner should know

Authors

  • D. Anthony Plath Department of Finance and Business Law, University of North Carolina at Charlotte, Charlotte, North Carolina 28223
  • Thomas H. Stevenson Department of Marketing, University of North Carolina at Charlotte, Charlotte, North Carolina 28223

DOI:

https://doi.org/10.1016/S1057-0810(01)00073-7

Keywords:

Investment portfolio, Personal finance, Portfolio composition, Racial difference, Individual investing

Abstract

African-American consumers differ markedly from their Caucasian counterparts in terms of financial product preferences, product research, and investment asset portfolio composition. This study examines some of the principal differences between African-American and Caucasian house- holds in evaluating and purchasing investment assets and explores differences in asset holdings between the two racial groups. This information can help financial planners seeking to market to the African-American community better understand this community, tailor investment information for the unique needs of this community, and render more effective service to individuals and families that comprise this attractive and growing market segment. © 2001 Elsevier Science Inc. All rights reserved.

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Published

2000-12-30

How to Cite

Plath, D. A., & Stevenson, T. H. (2000). Financial services and the African-American market: what every financial planner should know. Financial Services Review, 9(4), 343–359. https://doi.org/10.1016/S1057-0810(01)00073-7

Issue

Vol. 9 No. 4 (2000): Financial Services Review

Section

New Original Submission

License

Copyright (c) 2000 Elsevier Science Inc.

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