Financial services and the African-American market
what every financial planner should know
DOI:
https://doi.org/10.1016/S1057-0810(01)00073-7Keywords:
Investment portfolio, Personal finance, Portfolio composition, Racial difference, Individual investingAbstract
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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