The purpose of this study was to examine the likelihood of consumers hiring a financial planner based on race and gender utilizing an experimental design. Using a sample of Black and White MTurk respondents, cumulative logistic regression was employed to determine the effects of race and gender on the likelihood to hire a financial planner. Findings suggested that, overall, consumers did not have racially biased preferences when hiring a financial planner. However, they did express a preference for hiring female planners over male planners. Financial planning firms can use these findings to strengthen their support for and recruitment of women financial planners, as well as address concerns of racial bias amongst consumers.

This study used an experiment to investigate the association between race, gender, and trust as it relates to working with a financial planner among a sample of Black and White MTurk respondents. Results revealed neither a respondent nor a financial planner's race was related to the level of trustworthiness perceived by a respondent. However, respondents were more likely to trust women financial planners than men financial planners. In addition, women respondents were more likely than men respondents to trust financial planners. Implications of this study are important in understanding the challenges and opportunities faced by underrepresented populations in succeeding as a financial planner.

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The financial health of transgender and gender diverse (TGD) college students is an understudied topic despite prior research showing significant financial distress in this population. Utilizing Brüggen et al.'s financial well‐being framework and the 2017 and 2020 waves of the Study on Collegiate Financial Wellness dataset, this study examines factors related to financial strain for TGD college students. Results indicate that TGD college students experience significant indirect impacts of their gender identity on financial strain. TGD students had significantly lower financial optimism, financial self‐efficacy, and financial socialization than their cisgender peers; they also engaged in behaviors associated with poor financial management significantly more frequently. These differences between TGD students and cisgender students each lead directly to significant increases in financial strain. This means that the average financial strain for TGD students is higher than for cisgender students, because of the way gender identity impacts other factors related to their financial well‐being.

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