Planet Money Financial advising while Black
8 snips
Apr 28, 2023 In this engaging discussion, Erika Williams, a Black financial advisor with a background in advertising, dives into her challenging experiences at Wells Fargo. She faced isolation and subtle racism as the only person of color in her office, confronting systemic discrimination in the finance industry. Erika candidly shares her decision to join a discrimination lawsuit, illuminating the shared struggles of Black professionals. The conversation also explores the impact of these issues on wealth management and the importance of diversity in finance.
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Erika's Early Experience at Wells Fargo
- Erika Williams, after a career in advertising, got a financial advisor job at Wells Fargo in Deerfield.
- Initially impressed by her large office, she later felt isolated and faced subtle yet persistent exclusion from colleagues.
Office Downgrade and Client Discomfort
- Erika's initial large office was downgraded to a closet, increasing her isolation.
- A client was visibly uncomfortable upon realizing Erika was Black, refusing to enter her office.
Subtle Racism and Program Completion
- Erika faced subtle racism; colleagues referred to her as "the Black woman."
- Despite the unwelcoming environment and unequal pay, she successfully completed the 'Sprint to 24' program.
