Thomas Scott, CRPS is one of the Zachary residents featured in our Black History Makers feature in the winter 2023 issue.
Born and raised in Zachary, financial adviser Thomas Scott knows the value of community. He serves on numerous local boards of directors, plays the organ at local church services, and is the radio announcer at every Broncos home football game.
Growing up, he learned not to talk about money. “It was a cultural thing,” he explains. “You never wanted to embarrass someone for lack thereof.” That meant that many Black families missed out on conversations about growing wealth or making sure that property stayed within the family after a death.
Owning real estate has long been a vehicle for building wealth, but not one that Black Americans had access to until the Fair Housing Act expanded homeownership opportunities in 1968. So generational wealth for Black families is a relatively new concept. Scott says it’s rare for any of his Black clients’ grandfathers to have had any kind of investments. “Their fathers may have, but that’s where it stops.”
In his role as a financial advisor, Scott is now open to talk about money and investments in a way that teaches people what they have and how they can build it. He’s inspired to educate on building wealth and investing for the future and loves his clients’ input on investments because that means they’re actively engaged in the process.
If you’d like to know more about his financial advisory services, contact him at (225) 654-4191.