Dozens Of Financial Advisors Warn Corporate America That DEI Initiatives Are A "Liability"
Dozens Of Financial Advisors Warn Corporate America That DEI Initiatives Are A "Liability"
Dozens of financial advisors warned corporate America that in the wake of Donald Trump being elected the 47th President of the United States that Diversity, Equity, and Inclusion policies are now a “liability.”
In an open letter urging corporations to get rid of DEI departments and policies, the financial advisors, who collectively manage over $16 billion in assets, declared, “This November, the American electorate overwhelmingly rejected the ideological takeover of political and civic life by narrow-minded identity politics. Critical Race Theory (CRT) and Diversity, Equity, and Inclusion (DEI) purport to promote belonging and inclusion, but in reality sacrifice true diversity and equal opportunity by focusing only on differences based on skin color, sex, or religious status.”
Next, they warned, “It is now a liability for any institution to tout adherence to DEI ideology. Recent Supreme Court decisions have cast serious doubt on the legality of DEI, which has led to a full-scale ‘legal assault’ on DEI according to The Wall Street Journal. The data underlying the push for DEI have been exposed as overstated at best, or worse, downright false.”
The financial analysts and advisors did not stop there, they predicted that the incoming administration led by President Donald Trump and his Vice President J.D. Vance “will likely advance and enact policies that increase the risk of current DEI policies at every corporation.”
While noting the liability and risk enacting and enforcing DEI policies are, it also noted how rooted they are at major corporations throughout America. Citing the Alliance for Defending Freedom’s Viewpoint Diversity Score, the letter revealed that “91 percent of scored companies rely on concepts like CRT in their employee training materials.
Furthermore, it revealed that “nearly 6 in 10 scored companies (58 percent) currently impose DEI requirements on their vendors.”
Given this widespread embrace of the agenda, the dozens of financial analysts and investors who attached their name to the letter chided corporate leaders for their moral failure at allowing it to take root.
“Businesses don’t just exist to make a profit. Business leaders and investors act out of a strong desire to improve peoples’ lives and better the human condition,” the letter stated. “But a failure to properly communicate the virtue necessary for the proper functioning of capitalism—embodied in the fictional Gordon Gekko and his mantra ‘greed is good,’—can foster a perception of a moral vacuum. And it is exactly this kind of practice that allowed ideologies like DEI to infiltrate corporations in the first place.”
The advisors then made it abundantly clear they expect corporations to distance themselves from “DEI and highly divisive groups like the Human Rights Campaign—which bullies companies into adopting radical, wrong-headed, and reputationally disastrous policies.”
The letter then made the choice these corporations have abundantly clear, “You stand at an important crossroads. Either you can heed the voice of the American people— your shareholders, customers, and employees—or you can bow to fringe activists who demand that you double down on a failing ideology.”
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