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Edge Portfolio Management


State: IL

At Edge, a low client to advisor ratio allows for personal and customized service for each individual.  Our goal is to work as a team for each client to provide not only portfolio management but wealth coordination and financial planning.  We make every effort to have frequent communication with our clients and to provide timely response to calls and emails.  I also enjoy spending time with my wife and three kids, playing and following basketball, playing golf, and participating as an advisory board member for Breakthrough Urban Ministries.

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Financial Attitudes and Concerns Based on Ethnicity

African-Americans are more positive about the future in terms of finance than other investors, while Asians are more willing to take risks with their investments.

| BY Kent McDill

While every investor is different, it is possible to study investors based on background, wealth level, age, gender and occupation.

Spectrem’s Ethnic Segmentation Series looks at investors from three different yet hugely populated ethnic segments in the United States – African-American, Asian/Pacific Islander and Hispanic.

The first of the quarterly reports looks at investors’ financial attitudes and concerns, with an eye toward discerning what makes investors of different ethnic persuasions tick?

As with all segmented research, ethnic segmentation must be looked at with a sense of reality that not everyone in any segment is identical. However, when the data is extreme in one direction or another, it is worth noting.

For instance:

·         Seventy-percent of African-Americans expect their financial situation to be stronger next year than it is presently. That is a far more positive outlook than from Asians (60 percent) or Hispanics (58 percent).

·         Increasingly, investing requires a global view of economics, and Hispanics have a greater global attention than African-Americans or Asians. Fifty-six percent of Hispanic investors said they pay a greater attention to the global impact of economics because of its possible effect upon their own portfolio, while only 48 percent of Asians do and 40 percent of African-Americans do.

·         Asians are greater risks takers, as 40 percent said they would be willing to take a significant risk on an investment to earn a high rate of return. Only 34 percent of Hispanics and 27 percent of African-Americans felt that way.

There are numerous concerns investors faced related to the financial crisis of 2008, and investors from the different ethnic segments concentrated on different concerns.

African-Americans, for example, are far more regretful about the relatively small amount of money they saved prior to the crash, with 58 percent saying they wished they had saved more. Interestingly, Asians led the groups in terms of their wish that they had taken greater risks in their investments, with 33 percent agreeing with that statement.

Thirteen percent of Hispanic investors wish they had done more “self-investing’’ by going to classes or job training to improve their financial situation. Only 4 percent of Asians felt that need.

The different ethnic segments see different factors in their lives that led to their current wealth level. For instance, 71 percent of Asians considered “frugality’’ as a reason they obtained their wealth, while only 58 percent of African-Americans felt that was a factor. Forty-eight percent of African-Americans, however, credited decisions made by their financial advisor for obtaining wealth, while only 39 percent of Hispanics and 28 percent of Asians felt that was involved.

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Almost every Hispanic investor surveyed (96 percent) credited “hard work’’ for their success, compared to 91 percent of African-Americans and 86 percent of Asians.

In terms of their relationship with financial advisors, almost half of all Asians don’t have one. Forty-six percent of Asians consider themselves “self-directed’’ investors, meaning they do all the legwork themselves and do not use an advisor for any purpose. Less than one-third of Hispanic investors do it themselves, while 33 percent are advisor-assisted or advisor-dependent, a high rate of advisor usage among the ethnic segments.

Asians are also the most actively involved in investing. Forty-seven percent say they “like’’ investing and do not want to eliminate it from their lives, while only 38 percent of Hispanics and only 26 percent of African-Americans feel that way.

However, Asians are far less interested in socially responsible investments, with only 36 percent saying they take into consideration the social responsibility of any investment product, while 48 percent of Hispanics and 54 percent of African-Americans look into the social responsibility of an investment product before investing.




About the Author

Kent McDill

Kent McDill is a staff writer for Millionaire Corner. McDill spent 30 years as a sports writer, working for United Press International and the Daily Herald of Arlington Heights, Ill. From 1988-1999, he covered the Chicago Bulls for the Daily Herald, traveling with them every day through the nine-month season. He also covered the Bulls for UPI from 1985-88, and currently covers the team for He has written two books on the Bulls, including the new title “100 Things Bulls Fans Should Know And Do Before They Die’, published by Triumph Books. In August 2013, his new book “100 Things Bears Fans Should Know And Do Before They Die” gets published.

In 2008, he resigned from the Herald and became a freelance writer. The Herald hired him to write business features and speeches for the Daily Herald Business Conferences and Awards presentations.

McDill also writes a monthly parenting column for the Herald’s Suburban Parent magazine.

McDill is the father of four children, and an active fan of soccer, Jimmy  Buffett and all things Disney.