Three-part study explores diverse viewpoints

To better understand the needs and priorities of the diverse communities that we serve, we commissioned three studies exploring the financial experiences of the Black/African American, Hispanic/Latino and LGBTQ+ communities. Our goal was to learn more about how cultural, racial, gender and sexual identities might influence perspectives on wealth, financial security and success, and to gain deeper insights into the financial challenges and goals of individuals in these communities.

Through in-depth surveys and one‑on‑one conversations with thousands of individuals, the research revealed many nuanced perspectives and experiences that shape individual financial concerns and aspirations. Within that diversity, we also uncovered some common threads that underscore the humanity in us all: the power of resilience, a belief in the value of hard work and a drive to provide financial security for those we love.

A lot has happened over the two years since we conducted this research, making this work even more relevant and important in the context of disparities brought to light by the pandemic and protests around the country surrounding racial injustice.

In this three-part series, each month we will focus on different perspectives. This month, we are featuring the personal stories and diverse viewpoints within the Black/African American community. The research is organized around three major themes: Identity, work and money, and the future.

Our intention is to provide enough context to serve as the foundation for relationship-building dialogue. It is through that dialogue, with our expertise as a financial community, layered with our desire to better serve clients from all backgrounds, that we strive to build a stronger, more inclusive financial experience for all of your employees.

Key takeaways

Visit the website to download the report and watch a video roundtable where participants have generously shared personal insights about their lives and financial experiences.

Share these stories with your colleagues, employee networks, friends and family.

Talk with your Bank of America representative about how we can help you engage your workforce in improving their financial lives.