June 2020

Unity. Action. Change: A message from Mike Tiedemann.

Like many, I have been deeply affected by the racial injustice that minorities in this country have been forced to endure. The fact that there is still so much hate, bigotry, violence and prejudice in this world, makes me both heartbroken and angry; anger that I know is shared by many of you. As an individual and as a firm, we need to take a stand for basic human and societal rights, equality and decency. Tiedemann stands for integrity which means doing the morally and ethically right thing no matter how difficult and uncomfortable the task may be. We stand with Black Americans – and all other marginalized groups regardless of background, gender, lifestyle or affiliation - against systemic racism. As we learn more about parts of our history that remain untaught, and institutional hurdles that often lie hidden or out of sight, I realize how much more we have to understand. And we stand ready to listen, learn and act.

We recognize that in order to create systemic change, we all have to do our part as individuals and as a firm. We feel strongly that everyone needs to be accountable for how they think, act and treat others. Accountability will lead to critical change and meaningful reform.

We also realize that words are not enough. As an immediate action, Tiedemann has donated to organizations fighting racial injustice and promoting social equality. These current events come on the heels of a health crisis that disproportionately affected lower income neighborhoods and people of color. Our charitable donations were already largely focused on several communities in need, but we will further increase that effort. A year ago, we created an impact cash solution to allow our clients’ uninvested capital to be spread across community banks that reside within those communities that historically have been capital starved. This should enable more capital to be available for small businesses to be created by the residents of those communities, generating local jobs. We are also launching a research study to develop our own “theory of change” around the emerging theme of Equity Lens, to study how engagement with the capital markets can spur on systemic change and economic growth for all.

For our employees, our Diversity, Equity and Inclusion committee is setting up a webinar series of outside speakers to address, educate and promote an ongoing discussion on racial injustice and social equality. As a firm, we are committed to providing a safe space for everyone to speak about these issues.

We agree with the urgency to push for systemic change and we will continue to evaluate and identify other meaningful ways to create impact that builds a just, diverse and equitable society for all. We are prepared to open our minds, reflect on our own unintended biases and learn how to help build a better future for all.

We believe it is time for all Americans to do their part, and we are committed to doing ours.

Michael Tiedemann

Get the latest news and insights from Tiedemann Advisors