the Onyx Advisor Network (Onyx), a comprehensive entrepreneurial support platform for underrepresented financial advisors, today announces its official launch on May 9, 2022. Financial advisors of color, women, members of the LGBTQ+ community, and anyone who feels marginalized by the financial services industry, are invited to join for a monthly fee of $549.

Co-founded by financial advisors Dasarte Railway and Emlen Miles-MattinglyOnyx was created to close our nation’s wealth gap and provide historically underrepresented advisors with technology tools, access to custody, investment management resources, an inclusive community, and coaching support – all key elements for advisors to start, expand and sustain their practices.

“By developing Onyx, Emlen and I are committed to giving underrepresented advisors the tools, technology and resources to build lasting careers in our profession,” said Yarnway, who owns his own financial advisory firm, Berknell Financial Group.

“By removing barriers to entry and providing Onyx Advisors with access to some of the best resources our industry has to offer – at an affordable cost – we are meeting the challenge of diversity in our industry and forcing systemic change. in underserved communities.”

Included in the $549 subscription – with the option to bill monthly or annually – advisors will have access to a bundled technology stack, including Altruistic, MessageWatcher, Investnet|MoneyGuide, RightCapital, Synergy RIA Compliance Solutions and Wealthbox. Network advisors will have the ability to invest client assets in “Onyx Model Portfolios” powered by the portfolio management expertise of Avant-gardeas well as Alpha Architect. Advisors will also have access to a robust community and coaching development resources. In addition to the considerable savings offered by the monthly subscription, network advisors will have access to preferential rates at Onyx’s additional partners, including Carson Coaching, Encorestate, Holistiplan, National Association of Personal Financial Advisors, Shaping Wealth and Vivid Krakenwith others to follow.

Having both been denied entry into the financial services industry earlier in their careers, Yarnway and Miles-Mattingly founded Onyx to level the playing field for underrepresented advisors and educate underserved communities about the occupation.

“According to the most recent study by the CFP® Board, as of the end of last year, only 4.5% of CFP® professionals in the United States are black and/or Hispanic,” said Miles-Mattingly, who runs his own financial advisory firm, Next Generation Wealth.

“When Dasarte and I hear these numbers, we believe it is our collective responsibility to take meaningful steps to welcome minority professionals into this space. The creation of Onyx is the tangible manifestation of how Dasarte, our partners and I will lead our industry in making financial services a viable career for people of all skin colors, genders, sexual orientations and backgrounds.

After his soft launch in December 2021Yarnway and Miles-Mattingly worked with a beta group of various advisors, including Meg BartelCFP®, MS, Marguerite ChengCFP®, Samuel DeanMBA, Leighan MikoCFP®, Chloe MooreandCFP®, Anna N’Jie-KonteMBA, CFP®, Michael Policar, Chelsea Ransom CooperCFP®, Luis RoseCFP®, EA, Shawn TydlaskaMBA, CFP® and Tremaine WillsMBA, CFEI, to perform stress tests and get expert opinions on platform offerings.

“I feel deeply connected to Dasarte and Emlen’s mission with the Onyx Advisor Network: to support and uplift historically excluded communities,” said Miko, who runs her own fee-based planning firm, Equalis Financial.

“Having participated in the Onyx beta group, I couldn’t be more optimistic about the change this will impose on the industry. I sincerely believe that any advisor who feels marginalized and led to believe that the financial services industry is not for him has its place at Onyx.

Onyx Community Advisors will also receive a discounted rate to attend its very first in person community gathering to Future-proof festival. Taking place September 11-14, 2022 in Huntington Beach, California, Future Proof is designed to usher in a more inclusive future in the wealth management industry. As part of the #RiseTogether campaign, any attendee who registers during Women’s History Month can award an underrepresented financial advisor or institutional investor a free ticket to the event.

If you are an Advisor interested in joining the Onyx Advisor Network, please visit onyxadvisornetwork.com.

Technology vendors and other service providers in the financial services industry who are interested in partnering with Onyx, contact us at [email protected].

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