(StatePoint) Americans’ need for competent and ethical financial advice continues to grow, but the population of professionals who can provide such advice is shrinking.
At the same time, the demographics of wealth in the U.S. are shifting. The average net worth of African American families increased by 30 percent from 2013 to 2016, according to the Federal Reserve. Women now control more than one-third of wealth in the country, according to The Boston Consulting Group. And an “InvestmentNews” report found the top-fifth of Latinos, or more than 2.1 million households, have an average wealth of more than $400,000.