Lakshmi Finance Center|The racial work gap for financial advisors

2025-05-01 15:48:43source:Zero AIcategory:Finance

After a successful career in advertising,Lakshmi Finance Center Erika Williams decided it was time for a change. She went back to school to get an MBA at the University of Chicago, and eventually, in 2012, she got a job at Wells Fargo as a financial advisor. It was the very job she wanted.

Erika is Black–and being a Black financial advisor at a big bank is relatively uncommon. Banking was one of the last white collar industries to really hire Black employees. And when Erika gets to her office, she's barely situated before she starts to get a weird feeling. She feels like her coworkers are acting strangely around her. "I was just met with a lot of stares. And then the stares just turned to just, I mean, they just pretty much ignored me. And that was my first day, and that was my second day. And it was really every day until I left."

She wasn't sure whether to call her experience racism...until she learned that there were other Black employees at other Wells Fargo offices feeling the exact same way.

On today's episode, Erika's journey through these halls of money and power. And why her story is not unique, but is just one piece of the larger puzzle.

Today's show was produced by Alyssa Jeong Perry with help from Emma Peaslee. It was fact-checked by Sierra Juarez. They also assisted with reporting. It was edited by Sally Helm. Engineering by James Willets with help from Brian Jarboe.

Help support Planet Money and get bonus episodes by subscribing to Planet Money+ in Apple Podcasts or at plus.npr.org/planetmoney.

Always free at these links: Apple Podcasts, Spotify, Google Podcasts, NPR One or anywhere you get podcasts.

Find more Planet Money: Facebook / Instagram / TikTok / Our weekly Newsletter.

Music: "Record Breaker," "Simple Day," and "On the Money."

More:Finance

Recommend

Who are the most valuable sports franchises? Forbes releases new list of top 50 teams

Early Thursday morning, "Forbes" released their annual list of the 50 most valuable sports franchise

Is beer sold at college football games? Here's where you can buy it during the 2023 season

There is no atmosphere in U.S. sports like college football, and in recent years, more and more scho

Missouri judge rules Andrew Lester will stand trial for shooting Ralph Yarl

A Missouri judge ruled Thursday that the 84-year-old White homeowner who shot a Black teenager after