A question for advisors: Who is John Brown?

Trader Talk

The term “ally” has been bandied about incessantly since the racial protests of 2020. Admittedly, I have struggled with the term, not knowing when to apply it.

What I’ve observed in recent months is that most of my white colleagues and peers are convenient allies. Their willingness to be allies on the issue of racial justice extends only so far as they are not asked to take any risks — in reputation, time, professional prospects or money. From my vantage point, being a true ally is concomitant with some level of discomfort or unease. Simply issuing a statement of solidarity or cutting a one-time check to a single charitable organization is inadequate.

Keith Beverly GRID 202 Partners

“There have always been white Americans who stood on the right side of history — who fought against evil, racism and injustice — often at great personal sacrifice. Their stories offer hope and a glimpse of what is possible,” writes Keith Beverly.

I recently started discussing the concept of a John Brown ally. Doing so usually provides an opportunity to educate someone about the life of John Brown and cuts through the abstraction by providing a concrete example — a model — for being a true ally.

John Brown is not a mythical fictional character. He was an American. More specifically, he was a white American. And an abolitionist. An abolitionist who led multiple slave revolts, eventually paying the ultimate sacrifice when he was hanged in Charleston Town, Virginia, in 1859.

For many years I assumed John Brown was African American. This was partly because I hadn’t seen many pictures of him, and if I’m honest with myself, also due to my unconscious bias. There was dissonance that came with reconciling a white man fighting heroically to free Black slaves. I came to realize history can be — and usually is — incredibly nuanced. Throughout Black Americans’ time in this country there have always been white Americans who stood on the right side of history — who fought against evil, racism and injustice — often at great personal sacrifice. Their stories offer hope and a glimpse of what is possible.

John Brown allies embody a version of sacrifice I associate with being an authentic and productive ally.

Who is a John Brown ally?
John Brown allies are present in all sectors of the economy and come in several forms. I have identified the common denominators as a willingness to listen, relinquish, and advocate. While you may see or identify other characteristics in potential allies, I encourage you to observe these three before considering someone (or yourself) a true ally.

They listen
The thousands of white protestors standing in the audience as Black leaders spoke during the protests in Portland last year serve as an example. Black leaders were in the forefront while allies supported and agitated alongside them. In interacting with John Brown allies, it becomes clear early in the relationship that they prioritize listening and understanding. They appreciate that truly understanding the problem involves learning from those in direct proximity to it, who have spent years of working tirelessly, often with few resources, to solve it. Though they may be entering uncharted waters, their practice of active listening becomes apparent. They reference books, articles, white papers or conversations with other experts to demonstrate their growing knowledge. These tangible steps are reassuring, further deepening the relationship and engendering trust.

They relinquish power
We consider several clients of our Washington, DC-area RIA practice, Grid 202 Partners, to be John Brown Ally (JBA) households. It is common for many advisors to partner with their clients in helping them achieve their philanthropic goals. One of our clients committed to intentionally invest a substantial portion of their more than $40 million in assets in Black, indigenous, and people of color (BIPOC) communities, while also choosing to relinquish their power in doing so. Rather than holding the decision-making authority, they convened a group of specialists with deep expertise in the particular areas they want to address, including criminal justice reform, reproductive rights, wealth inequality, health equity. This panel will have oversight as to how the client’s investments are directed. The clients recognize that wealth confers power and can be an impediment to reaching an optimal solution. By upending the traditional power dynamic, they — and we — expect a more authentic conversation to flow, ultimately resulting in better outcomes.

They advocate (hard)
Less than an hour after meeting Sonya Dreizler for the first time at the SRI Conference in 2018, I listened to her speech imploring the predominantly white audience to check their privilege and do better in supporting their BIPOC colleagues. I sat at a table with several of the BIPOC attendees, awestruck by the candor and vulnerability she displayed. Her pleas to her white colleagues to put themselves in the shoes of BIPOC finance professionals embodies the type of risk one comes to expect from a true John Brown Ally.

Leaders and firms that ignore or fail to keep pace with the changing demographics and attitudes of the country will gradually fade. Homogeneity — of advisors, clients, and investments — will increasingly become a liability as firms scramble to adjust and their version of comfortable allyship reveals itself. John Brown Allies are growing in number and controlling a larger share of wealth in the country. Ultimately, the firms that incorporate racial inclusivity not only into firm culture but also the solutions and strategies they recommend to clients will thrive and claw market share away from those who miss the mark.

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