This website uses cookies to store information on your computer. Some of these cookies are used for visitor analysis, others are essential to making our site function properly and improve the user experience. By using this site, you consent to the placement of these cookies. Click Accept to consent and dismiss this message or Deny to leave this website. Read our Privacy Statement for more.
Diversity and Inclusion
Share |

Welcome to DCIIA's online resource library for DCIIA and member thought leadership. If you have resources to contribute in this topic area contact us at

DCIIA posts links to member content as a service to our members, plan sponsors, and the broader retirement industry. Some sites may require registration. Posting these links does not imply endorsement and we are not responsible for non-DCIIA content. Please advise us of any broken links or other updates.

Member Publications

Why Inclusion, Diversity, and Equality are Imperative in Investment Management Today
June 2019

PGIM notes that "a connection between Pride Month, WorldPride, and institutional investing may not seem an obvious one, but it’s an important one: research has shown that greater diversity in teams and businesses can lead to better informed investment decisions and strategies."

Closing the Retirement Savings Gap for Women
March 2019

Aon notes: “Female employees are less prepared for retirement than their male counterparts. Understand what the three major factors are that drive the gap, and more importantly, what employers can do to help their employees enjoy a more secure retirement.”

Fund Managers by Gender Through the Performance Lens
March 2019

This paper expands Morningstar's research on fund managers by gender. Previous research established that female fund managers are outnumbered by men by a ratio of 9 to 1 in the United States.

Moving Toward Gender Balance in Private Equity and Venture Capital

Published by International Finance Corporation, Oliver Wyman, and RockCreek. This report answers three questions: How gender balanced are leadership teams of General Partners, which allocate capital, and of portfolio companies, which receive investments? Are there benefits of moving leadership teams toward gender balance within General Partners and portfolio companies? What can General Partners do to move toward gender balance in their leadership teams and those of the portfolio companies they invest in?

Why Diversity and Inclusion Matter to Investors
December 2018

In this blog post, Morningstar notes: “A growing cadre of investors care about diversity, inclusion, and other factors falling under the heading of ‘sustainability.’ Financial advisors and asset managers are taking notice. The good news is that considering diversity and inclusion in investment selection leads to strong and stable businesses. The constituents of the recently launched Morningstar® Minority Empowerment Index™ and Morningstar® Women’s Empowerment Index™ score well on measures of volatility, competitive advantage, and financial health.”

Getting an Early Start on Building a Diverse Talent Pool
October 2018

OppenheimerFunds shares tips for attracting and retaining diverse talent.

Promoting Gender Diversity in the Investment Industry
September 2018

Callan Executive Chairman Ron Peyton offers his observations on what has worked for gender inclusion at the firm over the last 45 years and what we have learned in the hope that it will inform others on how to progress toward equality in senior roles industry-wide. These lessons apply as well to achieving diversity in all its forms.

Pairing 401(k) Savings Preservation and Expanded Access for America’s Minorities
September 2018

Retirement Clearinghouse notes, "Over the past few years, we’ve written extensively about auto portability -- what it is, how it works and the significant, positive impact it will have on the retirement security of working Americans. Our positions have been supported by research, predictive models (including EBRI’s RSPM) and real-world results from the initial implementation of auto portability. In this article, we address an important retirement public policy question: How would a pairing of auto portability with open multiple employer plans (or “open MEPs”) impact the retirement savings of America’s minorities, and particularly, African-Americans?"

Accelerating for Impact: 2018 Gender Inflection Point

A comprehensive report from Mercer, which is four years into its "When Women Thrive, Businesses Thrive" research.

The Missing Link: Sustainable Diversity and Inclusion Through Organization Design

In this paper, Mercer offers diversity leaders a framework and methodology for designing their own highly effective, sustainable D&I efforts based on empirical evidence and the best thinking on organization design.

On Gender, Diversity and the 'Library of Mistakes'
December 2017

In this Q&A with Vanguard, Amy Gutmann provides her unique expertise on some key issues facing industry and academia.

Don’t You Know, We’re Talking About an Evolution?
July 2017

This piece from Marquette Associates addresses the availability of strategies managed by diverse firms in the context of DC lineups. By examining the hurdles for diverse managers in the defined contribution space, plan sponsors, consultants, and managers will be able work together to develop practical solutions and improve inclusion.

Inside Employees' Minds: Women and Wealth

Mercer research has reinforced that women have unique financial challenges that employers are not yet adequately addressing. By better understanding these challenges and helping women take charge of their financial health, employers will reap the benefits of a healthier and more engaged female workforce that is not only more productive, but also easier to retain and develop.

Industry Resources

Closing the Global Gender Gap: Issues for the Investment Industry
July 2019

A curated list of relevant articles from Savvy Investor.

Women of Color Get Less Support at Work. Here’s How Managers Can Change That.
March 2019

This Harvard Business Review article proposes six actions that leaders can take immediately to help the women of color on their teams to advance. It cites data including: “Despite representing about 18% of the U.S. population, women of color represented only 4% of C-Level positions in 2018, falling far below white men (68%) and white women (19%).”

Testimony Before the Subcommittee on Diversity and Inclusion, Committee on Financial Services, House of Representatives
February 2019

The U.S. Government Accountability Office published this statement by Daniel Garcia-Diaz, Director, Financial Markets and Community Investment, "Representation of Minorities and Women in Management and Practices to Promote Diversity, 2007-2015." It is specific to the financial services industry.

Quick Take: Why Diversity and Inclusion Matter
August 2018

This blog post from Catalyst highlights data and findings selected from a vast body of research on the benefits of diversity and inclusion in the workplace, with an emphasis on studies published in the last few years.

Driving Change: Diversity and Inclusion in Investment Management

The CFA Institute asks, "Why is the industry stuck when it comes to diversity and inclusion (D&I)? What can be done to change it? What is working and what isn’t when it comes to recruiting, promoting, and retaining top talent? How do firms attract a diverse candidate pool and successfully recruit diverse candidates? What does an “inclusive” work culture look like? Have we moved beyond D&I as a “check the box” initiative?"

Women in the Workplace

Women in the Workplace 2018 is the largest comprehensive study of the state of women in corporate America. Since 2015, LeanIn.Org and McKinsey & Company have published this report annually to give companies and employees the information they need to advance women and improve gender diversity within their organizations. Also see: LeanIn circles, education resources, and the book by Sheryl Sandberg.

Diversity Doesn’t Stick Without Inclusion
February 2017

This article from the Harvard Business Review notes that “Leaders have long recognized that a diverse workforce of women, people of color, and LGBT individuals confers a competitive edge in terms of selling products or services to diverse end users. Yet a stark gap persists between recognizing the leadership behaviors that unlock this capability and actually practicing them.” It then highlights research that has uncovered four levers that drive inclusion: inclusive leaders, authenticity, networking and visibility, and clear career paths.

Back to DCIIA Resources