To mark Black History Month this October, Mortgage Solutions is profiling black and black mixed professionals in the sector.
Kea Makganye, senior protection adviser at Access Financial Services, was previously an estate agent and joined the financial services sector two years ago.
Have you always wanted to work in the finance sector? (if not, what job did you picture yourself doing?)
Initially, I faced difficulty in starting a career that met my needs. I wanted long-term financial stability, a work-life balance, and above all, a sense of purpose. My early career roles were a huge learning experience and served as stepping stones to get me where I am today. My career in the finance sector has largely fulfilled my goals, despite its inherent challenges, making it a career I am now committed to long term.
How did you get into the industry?
I actually got into the finance industry by chance while I was an estate agent. At the time, I was looking for the next step – something more fulfilling. A conversation with a client, who was house hunting at the time, helped me learn more about her career in financial services.
After chatting with her, I could see how happy she was in her career, and thought it was a change worth exploring.
What is your favourite thing about working in the sector?
Working in finance has undeniably improved my financial literacy, which has since benefitted both myself and my family. It is a skillset that provides the financial stability and security that is vital for us all. The job itself gives me a sense of purpose – especially when I am able to educate clients from my own ethnic background on their own financial matters.
I read an article from the London School of Economics that highlighted the UK wealth gap, with a particular focus on race inequality. The data showed that Black African communities are excessively affected, underscoring the urgent need for financial literacy in these communities.
We need to ask ourselves how can we build, preserve, and pass on wealth to the next generation and challenge this narrative? That is why I view my role in the finance sector not just a job, but a responsibility.
Did you ever feel there were barriers due to your race?
Absolutely. Before entering finance, I incorrectly believed it was a sector that was beyond my reach. This was mostly due to a lack of education and seeing very few people from ethnic communities in the industry. Meeting my client, a young black woman who was already succeeding in the industry, inspired me to make a career change.
The team at Access Financial Services is diverse, welcoming, and supportive – we collaborate rather than compete. I’ve seen successful black managers, advisors, and top sales performers, some of whom have progressed to start their own businesses in the sector.
I haven’t experienced any regular barriers yet, and the support extends to our industry partners and those in business development. There are still few business development managers (BDMs) from my ethnic background – so whenever I meet one, it does encourage me.
Do you feel like diversity and inclusion has improved over your time in the sector?
Yes, I have certainly noticed progress, from my perspective the only real barrier is often oneself. That said, while there is a good representation of black males, the number of black female advisers could certainly improve.
Who in the sector inspires you most?
Thasunda Brown Duckett [CEO of Teachers Insurance and Annuity Association] is someone I admire and consider a role model. We share a similar mission, and her story really resonates with me.
Outside of the mortgage/finance market, who is your biggest inspiration?
My biggest inspiration comes from everyday women, like my mother, who work hard every day to create better lives for themselves and their families. Additionally, in honour of Black History Month, Harriet Tubman has been a guiding light for me. She was fearless in leading her people to freedom from slavery. In my opinion, financial illiteracy is new form of suppression, especially for ethnic backgrounds.
My goal is to follow her bravery and commitment by helping those I meet who are looking to build, protect and increase their wealth. It could be by advising and guiding clients on family and health insurance, leaving an inheritance for their loved ones, retirement planning, debt management, or helping them on their road to owning their first home.
What advice would you give to anyone from a minority group who is thinking of joining the industry?
My advice would be to start by educating yourself. By grasping a basic understanding, you can then look at the requirements for entry-level roles. Reading job descriptions will give you valuable insight the skills and responsibilities employers are looking for. This is a great starting point for those looking to enter the industry.
What has been your biggest career achievement?
So far, my biggest accomplishment has been the positive impact I have been able to provide many families through financial planning and protection.
But, if I had to choose a single moment, it would have to be when I made the decision to enter the finance and insurance sector – a choice that led to the work I’ve been able to do for families since.
What skills and/or qualities do you bring to your role?
I bring openness and a passion for educating my clients about the importance of financial planning. I always look to build upon my skillset and develop, which helps me to stay updated on industry trends and assist clients.
While I may not yet be an expert in my field, I do pride myself on having the knowledge to guide clients in the right direction or introduce them to colleagues who can further assist them.
What life lesson or advice helped shape who you are today?
There are three main guiding principles I adhere to – resilience, gratitude, and education. Adopting this mindset has helped me navigate challenges and find solutions in difficult situations. I am grateful for every person I have ever met, whether the experience was positive or a negative one.
Finally, my mother has always stressed the critical role education plays for us all. Without it, I wouldn’t have the skills or knowledge to support myself and my family. Collectively, these principles have helped shape who I am today.
Where do you see yourself in five years career-wise?
Five years from now, my aim is to be a well-rounded financial adviser with the ability to offer a range of products and services. In time I would like to expand my client list significantly.
Until then, I am committed to developing my skills and keeping up to date with industry trends. I am excited about the direction my career is taking and look forward to what the next five years will bring.
