Case Study: CHIP Inc. — Bridging the Visibility Gap for Marginalized Financial Professionals

Sep 24

Executive Summary

CHIP Inc., a fintech platform connecting marginalized individuals with certified financial professionals, tackled the industry’s severe visibility gap for minority providers. By forming strategic partnerships, tailoring on boarding, and focusing on culturally relevant marketing, CHIP Inc. achieved a 340% increase in diverse professional profiles, forged 12 significant industry partnerships, and successfully pivoted from a recruitment-based to a client-acquisition model in just 18 months.

Challenge: Under representation of financial professionals and obstacles in connecting diverse clients with culturally competent advisors.

Solution: Focused outreach to six segments, seasonally orchestrated marketing, and credibility via industry partnerships.

Results: 340% increase in diverse profiles, 12 strategic partnerships, and a shift to client growth as the primary organizational focus.

Introduction

Within the financial services sector—where 82% of Certified Financial Planners (CFPs) are white CHIP Inc. identified a profound gap between financial professionals available and the diverse clients seeking culturally competent advice. Founded with the goal of democratizing access to financial guidance, CHIP Inc. serves as a dynamic matching platform bridging marginalized consumers with advisors who understand their unique contexts.

The leadership team, including the COO, CEO, Head of Content & Strategy, and CTO, envisioned improving both professional visibility and client access. Through deliberate partnerships and innovative marketing, CHIP Inc. dramatically expanded professional engagement and client acquisition, evolving from recruiting professionals to focusing on on-boarding clients and fostering connections.

The CHIP Inc. Difference

CHIP Inc. operates as a comprehensive matching service spanning the full financial lifecycle—from basic budgeting to complex estate planning. The platform connects marginalized individuals to advisors who understand their cultural circumstances and unique goals, offering more than a traditional directory by curating personalized, trusted connections.

Major milestones in CHIP’s growth include the development of streamlined onboarding flows, the formation of partnerships with professional organizations, and the creation of marketing strategies sensitive to the genuine challenges diverse professionals face.

"Our mission extends beyond simple matchmaking. We're building trust bridges where they were lacking," – Dana L. Wilson CEO, CHIP Inc.

The Visibility Gap: Diversity by the Numbers

The lack of diversity in the financial sector continues to restrict access to competent guidance for minority consumers:

Financial Planning Demographics

82% of CFPs are white, just 2% Black, 3% Hispanic ([MarketWatch])
77% of CFPs are men; 83% are white ([CNBC])
Black individuals make up 13% of the U.S. population but only 2–3% of planners

Advisor Workforce Overview

79% of advisors are white versus 63% of the U.S. population ([InvestmentNews])
Black (8.1%), Hispanic (7.1%), and Asian (5.7%) representation among financial advisors is low
Minorities comprise only 10% of the advisor workforce, and just 15% of senior leaders ([WifiTalents])

This underrepresentation affects both the visibility of minority professionals and the accessibility of culturally competent advice for clients.

The Challenge

CHIP Inc. needed to reach six distinct professional segments—estate attorneys, CPAs, financial planners, insurance agents, financial coaches, and investment advisors—each with unique challenges and seasonal busy periods.

Key Challenges

Systemic Invisibility: Many minority professionals lack the networking and marketing resources to gain visibility.
Complex Seasonality: Each segment has different peak periods (e.g., CPAs in tax season, attorneys avoiding divorce peak months).
Trust Building: Professionals needed to trust CHIP Inc. understood their offerings and could present their value.
Cultural Relevance: Marketing needed to be authentic and resonate with diverse professionals and clients.

Understanding the nuanced issues for each professional group enabled CHIP Inc. to build trust and relevance, expanding client reach and advisor participation.

CHIP Inc.'s Approach

Traditional approaches did not address the nuances of minority professionals’ experiences. CHIP Inc. instead focused on accessibility, personalized value, and building industry credibility.

Strategic Actions

Accessible Technology: Collaborated with the CTO to design onboarding flows approachable to varying skill sets.
Tailored Value: Each professional segment had specific value propositions and onboarding experiences.
Credibility Partnerships: CHIP Inc. collaborated with established organizations to enhance trust, reach, and co-marketing.

"One-size-fits-all marketing wasn’t the answer. We had to reflect the realities of our professionals’ practices." – Eugenie George Head of Content & Strategy

Implementation

CHIP Inc. executed its strategy through three key pillars: partnerships, seasonality, and personalized onboarding.

Industry Partnerships

Partnered with the National Association of Financial and Tax Advisors (NAFTA) and networks of estate attorneys.
Built relationships with 12 organizations representing over 15,000 professionals.
Leveraged co-marketing within trusted communities.

Seasonal Strategy

CPA Engagement: Avoided outreach during tax season, focusing on May–December.
Estate Attorney Timing: Communicated outside peak family law months.
Coach Alignment: Synchronized outreach with financial awareness campaigns and professional development.

Personalized Onboarding

Developed flows for each segment, highlighting relevant features.
Allowed professionals to showcase their cultural competency.
Built continuous feedback loops to refine user journeys.

Results

CHIP Inc.'s strategy produced substantial outcomes in several areas:

Professional Engagement

340% Increase: Diverse professional profile creation surged over 18 months.
12 Active Partnerships: Connected with industry organizations, expanding the professional network substantially.
85% Onboarding Completion: Far above the 23% industry average.

Operational Shifts

From Recruitment to Onboarding: Pivoted organizational focus to onboarding and supporting clients, signaling platform and market maturation.
67% Cost Reduction: Lowered professional acquisition costs via partnership channels.
92% Professional Satisfaction: High approval ratings credited to cultural understanding and client quality.

Market and Brand Presence

Referral Growth: 45% of new professionals came from platform member referrals.
Industry Recognition: Featured in 8 publications as an innovation leader in inclusive financial services.

"CHIP Inc. deeply understands the importance of cultural competence in financial planning—a real shift for professionals like me." – Maria Rodriguez, CFP and CHIP professional member

Key Success Factors

Cultural Intelligence: Recognition of each community’s unique challenges and need for tailored engagement.
Seasonal Sensitivity: Adapting outreach to professional busy periods increased response rates.
Strategic Partnerships: Leveraged organizational connections to quickly build trust and scale.
Technology Accessibility: Opened the platform to professionals with varying levels of technological confidence.

References

fintechdirectorycase study

Eugenie George