#NewsYouCanUse (December 21, 2023)

The #NewYouCanUse is an article discussion series where I share important reminders of what is going on in the world and how it affects women, underrepresented professionals, male allies, and the business we do in financial services and financial technology.

You are always welcome to add article links in the comments, personal thoughts about these topics, and I encouraging tagging others on these discussions. Please be kind to one another when differences of opinions occur. It happens and it helps us all to think differently.

Here are today's finds:

1?? Minimum Wage Increase, But Not For Everyone via USA TODAY

I learned a few things from this USA Today article on wages. 1 - Did you know there are twenty states that will continue to have a legal minimum wage of $7.25 next year. Continue? Like, I couldn't even believe my eyes! But wait, in Georgia and Wyoming, the state minimum wage is lower than the federal minimum wage at $5.15 an hour. Are you kidding? According to the Department of Labor , 78.7 million workers ages 16 and older were paid at hourly rates, making up 55.6% of all wage and salary workers. Friends, we need to help our communities when it comes to these issues. My own state of Missouri is at $12.00/hour as a minimum age and I thought that was terrible. And we know these wages hit women and DEI workers the hardest.

2?? What About Becoming a Financial Personal Trainer? via FA Magazine

I don't think that's a half-bad idea, actually. The article says, "Investors who work with a financial advisor are more likely to have a financial plan going forward and be more confident about the ways to execute that plan, according to the 'Fidelity Investments 2024 Financial Resolutions Study. '" However, what got me was it was reported that advisors reached out to only 13% of their clients’ children, according to Anand Sekhar , vice president of practice management and consulting for Fidelity for Institutional Investors . What a missed opportunity! Sekhar goes on to say, "It is a wasted opportunity," he said, adding that the younger generation is wanting advisors who act like personal trainers at the gym. How are you reaching out to your clients kids? Inquiry minds, y'all!

3?? It's a Fractional Kinda Future For Us via Vendux LLC

This article shares two undeniable truths when it comes to fractional work. (1) is the ability to harness specialization, and (2) is cost-efficiency. Fractional work isn't the future. Fractionalizing work is NOW. If you have a special skillset, please consider the different ways you can fractionalize it. Copying Diana Cabrices and Ronnie Colvin, MS, CFP? on the importance of this topic.

?? Who has thoughts to share?

?? What are your opinions?

?? Where can we make the biggest change happen first?

≠ When can we expect something to be different?

? How can we get started?

????♀? Why should others care about this stuff going on?

I work on these kinds of matters and more in the Females and Finance Community and welcome thought leaders who are in or serve the professionals of financial services and financial technology to reach out, join, and let's build a better landscape of professionals.

Stay well, friends.

Sheryl Hickerson

CEO & Founder - Females and Finance