- March 5, 2024
- Insights
The financial services industry has come a long way in terms of diversity and inclusiveness, but in some ways the bar for considering organizations “diverse” seems to have remained decidedly low. It doesn’t help that a lot of the language we use feels outdated and unnecessarily non-inclusive. This is the topic of a blog I wrote a few years ago.
Unfortunately, I still hear some of these cringeworthy expressions in use today. Here are a few that it seems to me we could easily do away with.
“Big Boy Letter”
This is an old term that refers to a letter that essentially affirms the investor is sophisticated and knows the risks involved in the investment in question. Sure, decades ago the qualified investors were probably mostly “big boys.” But girls grow up to invest now too.
“Bad Boy Carveouts”
Here we go with the boys again. Surely both male and female investors are capable of intentional actions that require recourse provisions. It feels like it’s time to acknowledge that.
“Chinese Wall”
Seriously. What’s the problem with just calling it a “compliance wall?”
“Open the Kimono”
This one floors me every time I hear it – along with giving me a case of the willies. I find this to be the most cringeworthy on the list, and it’s a visual I just can’t unsee once someone says it. Why can’t you just let me under the tent? That way everyone can keep their clothes on.
I’m as guilty as anyone of training myself to ignore and accept this kind of terminology. But isn’t it time we retire exclusionary phrases like these and replace them with terms that don’t make people feel uncomfortable or marginalized? That’s the kind of environment I think we’d all like to work in.
The original article is available here.