BLatinX (BLX) Internship Program

/ Ballast Point Financial Planning/

By: Uziel Gomez

Did you know that only 4.2% of Certified Financial Planners are Black or Latinx while those populations make up almost 32% of our country?

We joke that the financial planning profession is full of male, pale, and stale advisors. The average age of a financial advisor is nearly 60 years old. To help “give the profession a little bit of a tan,” the BLX program was created by four fee-only financial planners to change the complexion of our profession. 

This non-profit organization was created in the fall of 2020 in wake of George Floyd’s death and in the spirit of the Black Lives Matter movement. The co-founders of BLX believe that in order to move the financial planning profession forward, we must be more representative of the population of our country.

The BLX program provides an opportunity for aspiring Black and Latinx financial planners to obtain a paid internship at a fee-only financial planning firm. The program is open to both students and career changers. Ballast Point’s CEO, Shawn Tydlaska, is one of the four BLX co-founders and I, Uziel Gomez, serve as the Intern-coordinator for the program.

Our goal is to provide an opportunity for interns to learn “real financial planning” first-hand from a fee-only firm. Traditionally, a person starting their career in the financial planning industry begins by cold calling and/or selling products that are high-fee and riddled with conflicts of interest. In the BLX program, interns can observe client meetings and contribute to the planning process from day one.

The first intern cohort completed their internship in the summer of 2021. Thirty-eight interns were placed across 26 different firms all over the country. Of those 38 interns, 26 received ongoing job offers. In addition to the internship, the program provides workshops for resume building, coaching, mentoring, and additional training. We also partnered with industry leaders to offer interns access to financial planning software and scholarship opportunities.

The feedback we received from both firms and interns was resoundingly positive. The firms consistently reported that interns exceeded their expectations. One firm owner, Deborah Meyer, stated “When I interviewed our intern, she seemed too perfect. I was expecting to find her flaws after she started working for us. But nope, she really is an amazing team member!” 

Interns were grateful for the opportunities the BLX program offered. Initial cohort member Alida Mogollon said, “I think that the BLX program team is truly remarkable, as the group has gone out of their way over and over to provide amazing opportunities to students.”

We had the privilege to learn more about the interns’ backgrounds, dreams, and aspirations. Many of them strive to positively impact their own communities through financial planning. We are confident that this is the start of changing the complexion of the financial planning industry.

Applications for the summer of 2022 are now open! Our goal is to provide at least 100 aspiring Black and Latinx financial planners with meaningful, paid internships during the summer of 2022.

If you are interested in supporting the BLX program, here are ways you can help:

  • Share the program with your alma mater’s finance or business department

  • Share the program with family and friends interested in pursuing a career in the finance industry

  • Donate here to the program to support financially. Funds will be used to help place interns at firms, host trainings throughout the year, and provide scholarship opportunities

Team Spotlight:

Uziel Gomez

The four BLX co-founders and Uziel met in Marina Del Rey in August 2021 to discuss the program’s future plans. Pictured from left to right: Chloe Moore, Emlen Miles-Mattingly, Uziel Gomez, Shawn Tydlaska, Luis Rosa.

Uziel Gomez joined the Ballast Point Financial Planning and the BLX team in March 2021. He lives in Los Angeles, CA. Uziel enjoys spending time with family, training for boxing, and trying out new dishes in the greater L.A. area. His favorite dish is the carne asada enchiladas from Anejo Cantina and Grill in Sherman Oaks.