Client Voices

ING’s Valerie Brown Authors Op-Ed Calling for Greater Industry Attention to the Financial Needs of African-American Women

Valerie Brown, who heads the retail annuities business at ING, authored an op-ed in the November issue of Financial Planning calling for greater financial services industry attention to the needs and concerns of African-American women.

In her op-ed, Brown describes what she calls a “financial perfect storm,” as African American women’s extraordinary financial support of their families, friends and places of worship, combined with a strong disposition to consume, has significantly constrained their savings.

“With so many demands on their financial resources, many African American women have put their own needs behind those of family, friends and church— that is, if their own financial goals are even on the list at all,” Brown wrote. “So it is hardly surprising that African American women are significantly less likely than other women to own a retirement account, mutual funds or individual securities. With their financial well-being at risk, it’s time for African American women to make their own financial security a higher priority.”

“While African American women care deeply about their financial future, are confident in their ability to invest and possess a strong desire to learn more, many are not where they need to be financially,” Brown wrote.  “We think these circumstances represent an opportunity for the financial services industry— and that financial advisors have a particularly critical role to play in the economic empowerment of African American women, their families and their communities.”

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