The group was created by Dom Scott, managing director of Lifetime Connect, in March 2021 with the aim of “championing black mortgage, protection, and financial planning professionals” – as stated by its tagline.
There are currently more than 220 members in Accrue Network spanning the financial services, property, business and consultancy sectors.
The members use the group to mentor, network, engage and work with each other.
‘It feels like we know each other already’
Sebastian Newby, managing director of New Property Finance, said like the fraternity and sorority groups in America, the Accrue Network made black professionals feel connected and gave them a sense of community.
He said going into places where one might feel underrepresented, it was “good to have something like Accrue”.
Newby said: “When we come across each other in public, it’s refreshing. I met someone at the Black Young Professionals (BYP) event, and they greeted me as if we had known each other for years.
“That’s how it is now, when I see other members of the group at events, we say hi, even if we haven’t met before, because it feels like we know each other already.”
Newby added: “Before the group, I would see other members and their heads would be forward like they didn’t see me, but now they feel comfortable to say hi and Dom has brought that about.”
Aleka Gutzmore, financial adviser at Moneysprite, said Accrue was good for people who did not see representation within the firms they worked for.
Gutzmore said: “You could be the only [black person] in your company – because there are not many – but through the group, you get to see what other people are doing and their successes which encourages you to keep going, being good and being excellent.
“Being part of the network, I’ve been contacted by other members to work with companies like Knowledge Bank, and getting an award, because they’ve been able to put a face to a name.”
“I’ve been advising since 2005 and I’ve seen a growth in the number of black people in the sector and Accrue has made that possible because it makes you feel like you’re part of a bigger picture,” she added.
Gutzmore also said the group created the opportunity to meet people she may not have come across otherwise.
Annabel Dixon, associate director at Alexander Hall, said that working in the sector, one could feel “outnumbered”.
She said the group provided a “pick me up” from seeing the activity and achievements of other
professionals.
Nicola McKenzie, founder of Dunham McCarthy Group, said the group served as a “pivotal platform in bringing together black professionals within the financial sector”.
She added: “In an industry where our representation is notably limited, the Accrue Network has offered a platform for us to share experiences, address challenges, and explore opportunities unique to our community. I am particularly grateful to Dom Scott for his efforts in bringing the group together. His leadership has been the driving force behind the network’s success.”
A sense of community
Newby said the group had brought him connections, opportunities and recognition.
He also said Accrue had given him confidence by having people react to the things he had done and encouraging him to do more.
Newby said it could be “nerve wracking” to put himself out there because of how he may come across but hearing that other people had similar worries and were still able to cheerlead him was “reassuring”.
Dixon added that it was easy to be unaware of how many other black people were employed in financial services, but since joining Accrue she had been able to work with professionals such as an accountant with whom she recently connected.
Dixon also said the group made it possible for her to see people like her “at the top of their game”.
“It’s one thing to connect with black professionals but it’s another actually seeing them at the top of their game as well. It makes it easy to recognise and celebrate each other, for example when I shared my award win at the British Mortgage Awards this year in the first-time buyer category.
“It’s about being able to congratulate each other and champion each other at different events too,” she added.
Dixon said the Accrue Network was not about black people trying to isolate themselves from the rest of the sector, it just served as a way for underrepresented professionals with similar backgrounds to encourage each other.
McKenzie said the group played an important role, cultivated a sense of community and provided a space “for us to voice our concerns, celebrate our achievements, and support each other’s growth”.
She added: “The network has been a catalyst for connections I have made that would not have been possible otherwise. It’s a platform that is paving the way for a more inclusive and diverse financial sector. I am proud to be a part of it.
Progressing together
Dixon said she sometimes had tunnel vision regarding the goals she set herself, but through Accrue, she had since become aware of the various paths she could take in her career.
She said: “We can get into the mindset that because ‘I’ve been doing a particular thing, this is what I have to stick to’. But you can divert yourself onto a different route altogether and my mind is more open to other opportunities that suit my skillset, even outside of the mortgage sector.”
Prince Onwukwe, mortgage and protection adviser at Revolution Finance Brokers, said before he joined the profession, he engaged with some of the Accrue members and received “valuable advice which has guided me so far”.
Onwukwe started his mortgage advice career at the end of 2021.
He was attracted to the market because it offered a way to “assist individuals with one of the most significant financial decisions of their lives” and guiding clients through the process gave him a sense of achievement.
Onwukwe said: “With Accrue Network, determined to improve black representation within the mortgage, protection and financial sector, I see a group of professionals who want to celebrate fellow achievements, share best practice and connect with likeminded people.”
He said he also had the “pleasure” of meeting fellow members at a leadership seminar.
Onwukwe added: “I would advise anyone in the mortgage, protection or financial sector to link up and let’s keep spreading and sharing the love. You get to meet likeminded people who can offer advice and help navigate the industry either as a new entrant or otherwise.
“The group is filled with professionals who have attained some remarkable positions in the financial industry.”
Faye Richards, director and mortgage broker at Faye Richards Private Finance, has worked in the sector for 15 years. She said it was not very diverse at first, but a lot had changed in recent years.
Richards said Accrue was “empowering” for her because when she went to networking events, she would often not see other people of colour.
Group creator Scott helped Richards get her first job in London with Alexander Hall in 2014, and he noticed Richards looking at him in shock when they met and she realised he was black.
Richards said the group gave black professionals confidence and a sense of inclusion, especially for someone in her position who is now self-employed and works alone.
She said the group also opened the opportunity to work with people from diverse backgrounds if she wished to.
“It’s nice to support each other. I’m not saying I’m biased towards anyone of a particular race, but it is a way to grow and accelerate one another,” Richards added.
For more information on the group, check the Accrue Network LinkedIn page.
