3 Things to Consider when working with Asian Americans and Pacific Islanders

May is Asian American Pacific Islander Heritage Month!

For financial professionals, AAPI Heritage Month is a great time to learn more about working with these communities. Thanks to resources and insight from our staff, Members, and DEI Task Force, we’ve identified 3 ways to increase your skills when working with the AAPI individuals and families. 

1. Debunk the myth of the Model Minority.

Asian Americans have long been plagued by the Model Minority Myth. According to NAPAWF, “The ‘model minority’ myth continues to render many AAPI communities invisible in conversations about poverty, economic security, and wage disparities.” The myth manifests in different ways from perceptions of racism to representation in leadership positions and more.

2. Learn about the financial differences within the AAPI community. 

The AAPI community is often grouped together as a monolith, but they are far from it. Differences vary by ethnic groups, not only in terms of culture and traditions, but in terms of financial considerations as well. Depending on who you serve, you can also learn more about specific groups like older adults, women, and college students.

3. Add some resources to your professional toolkit.

As a financial professional, making recommendations and providing resources to your clients or students is a key part of your role. Improve your skills and learn more about financial challenges, guidelines for dealing with financial exploitation, and culturally responsive methods for counseling.

Have more resources to add? Share your favorite resources and tools for working with the AAPI community in the comments below!

AFCPE knows that personal finance and our relationship with money is not one-size-fits-all. We celebrate national heritage months with two goals in mind: (1) As a way to educate financial professionals on how different identities, cultures, and customs may affect finances or our relationship to finances. (2) To celebrate the various backgrounds of our diverse and inclusive community.

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