For many individuals, financial advice doesn’t feel welcoming—it feels overwhelming. This is especially true for people from varied backgrounds who may already feel excluded from financial spaces. Joanne Munis of Vested Woman Consulting argues that language is a major reason why. Dense terminology and technical phrasing often turn useful guidance into something that feels distant and hard to trust.
Munis highlights that financial planning is far from dull—it becomes compelling when people can relate it to their personal lives. By making financial discussions more inclusive, advisers can foster engagement and encourage individuals to take a proactive approach to their finances.
Connecting Financial Advice to Personal Goals
A critical way to make financial advice more relatable is by linking it to personal experiences. Munis explains that clients often need to identify the reasons behind their financial decisions, such as goals for themselves or their families. When advice connects directly to these motivations, it helps maintain focus and commitment over the long term.
An example demonstrates how jargon can hinder engagement. Munis attended an investor event where slides were filled with technical terms but lacked clear explanations. Without context, attendees struggled to connect the advice to their own financial goals.
She notes that women, in particular, tend to be more risk-averse than men, making it even more important to explain concepts like risk profiles and investment options in accessible language.
Inclusive Language in Practice
Inclusive language ensures that financial products and services resonate with diverse audiences. Munis emphasizes the need to create financial advice that women from different racial backgrounds can relate to. By simplifying terminology and explaining concepts clearly, advisers can make financial planning approachable for everyone, not just experienced investors.
At Vested Woman Consulting, Munis focuses on helping women achieve personal, professional, and financial goals. The organization offers a safe environment for learning about budgeting, investing, saving, and general financial management. This approach enables participants to develop sound financial habits and make informed decisions.
Addressing the Race Wealth Gap
Munis highlights that standard financial industry events often adopt a “one-size-fits-all” approach, which does not account for the unique challenges faced by women of color. While gender pay gaps are widely discussed, the race wealth gap receives less attention. Some communities have lower rates of property ownership and wealth accumulation, making it harder to build generational wealth.
Even when earning higher incomes, some individuals may feel uncertain about how to manage or invest their money. According to the Financial Conduct Authority, only about 10% of the population currently uses a financial adviser.
As younger generations like Gen Z earn more, the financial industry needs to adapt and offer advice that is relevant, accessible, and inclusive.
Practical Steps for Financial Advisers
1. Avoid excessive jargon and explain financial concepts in relatable terms.
2. Connect advice to clients’ personal goals, highlighting why decisions matter.
3. Consider diverse backgrounds and experiences when creating financial strategies.
4. Offer workshops or coaching sessions tailored to specific communities.
Inclusive financial advice is not only about language—it’s about understanding clients’ perspectives and making them feel seen and supported in their financial journey.
Making financial advice more inclusive requires more than simplifying terms—it involves creating meaningful connections between clients’ lives and their financial decisions.
By addressing both gender and race-related gaps, advisers can make their services more engaging, relevant, and impactful. Inclusive language encourages participation, builds confidence, and helps individuals take charge of their financial futures with clarity and purpose.
