CFA Institute aims to enable its constituents to embrace difference, demonstrate respect, and build societal trust. Its external Inclusion & Diversity (I&D) strategy is focused on increasing I&D in the investment industry to ultimately improve performance. By working with the CFA Society® community, we can impact the industry and encourage change at a local, regional, and global level.
Sarah Maynard joined CFA Institute in 2019 in the newly created role of Global Head, External I&D Strategies and Programs. She leads a global, external I&D program for key stakeholders, including candidates, members, the CFA Society network, and institutions.
The external I&D program focuses on measuring, convening, consulting, and influencing the investment industry. By driving inclusion programs and strategies externally, CFA Institute hopes to enable its stakeholders to build capacity to innovate, create new products and services, grow trust, and serve new clients. The team strongly believes that now is the time to move the conversation to action.
Existing Programs and Initiatives
Over the last few years, with huge support and collaboration from the CFA Society community, CFA Institute has driven a Women in Investment Management Initiative; hosted I&D roundtables, developed a report on Driving Change: Diversity & Inclusion in Investment Management; published Twenty Actions and Best Practices to Promote Inclusion in the Workplace; launched the Experimental Partner Program, and interviewed industry leaders on I&D topics of interest, such as Machel Allen, CFA, Metis Global Partners on Why Diversity is More Critical Than Ever.
Other current initiatives include:
- Society Leader I&D Survey: CFA Institute conducted a global survey of Society Leaders to gather feedback on I&D priorities in local markets. This information will help CFA Institute to focus its efforts on the areas that are most important for the CFA Society community. UPDATE: Download the survey results here.
- Member data analysis: By analysing our membership, it is possible to gain a greater understanding of the industry. CFA Institute recently ran a pilot to test a set of demographic questions and is aiming to develop this into a census of members and candidates. The results will help to work as a proxy for the demographics of the global investment industry.
- Inclusion Code: This code will focus on driving and guiding individual behaviour in the investment industry and align with the Code of Ethics and Standards of Professional Conduct. UPDATE: Find out more about the launch of the Code in the United States and Canada here.
CFA Institute Inclusion Code
Analysis of the Society Leader I&D survey, together with the membership demographic data and the Inclusion Code will enable us to deepen our knowledge of the industry and develop the appropriate infrastructure.
Sarah Maynard commented: “We recognize that a diversity of perspectives will lead to better investor outcomes and an inclusive investment industry will better serve our diverse society. Much like investment managers integrate ESG into the investment space, we are calling for the investment industry to integrate I&D into the people space.”
Upcoming Programs & Initiatives
I&D is a constant process that will continue to evolve. CFA Institute is moving from the “convene and consult” stage to the “measure, influence and impact” stage.
Look out for these upcoming initiatives that will help to further our work in this area:
- Experimental Partners Report: This report, to be launched in May, will provide data on I&D programs that investment firms have been using. This has been based on research undertaken as part of the Experimental Partner Program.
- Future of Work Study: The CFA Institute Future of Finance team is working with the External I&D team to gather quantitative input for a study on work culture, attitudes, and efficiency within investment organizations. Specifically, the reports will explore the impacts of COVID-19, workplace inclusion and build upon the findings in the Investment Professional of the Future report.
Collaboration with the CFA Society Community
The CFA Society community has been actively promoting I&D in the investment management profession through local initiatives. Some recent examples include:
The investment industry is changing at a fast pace and while I&D work is underway, more needs to be done if we are to continue to attract talent to the sector. Through our continued collaboration we can make a difference.
CFA Institute Resources
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