Episode #128 “Taking DEI Action In Financial Planning”

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Dr. Kimberly Watkins Ph.D | Professor | Researcher |

Introduction:

In this episode of the Most Hated F-Word podcast, I speak with Dr. Kimberly Watkins, an Assistant Professor in the Department of Financial Planning, Housing, and Consumer Economics at the University of Georgia. Dr. Watkins teaches courses in the financial planning program at UGA and conducts research on financial socialization, financial well-being, and DEI.

Dr. Watkins discusses her personal journey towards better communication around money with her husband and how it has influenced her interest and focuses on self-reflection and introspection with her financial planning students. We also discuss taking DEI action in financial planning.

Why You Should Listen:

This episode sheds light on the importance of including all voices in the creation of financial planning models, methods, tools, and systems. It highlights the need for more research specific to black Americans and other people of colour and emphasizes the importance of practicing self-reflection and introspection for financial planners to build empathy and understanding with their clients.

Highlights:

– Understanding the diverse experiences of money: Dr. Watkins emphasizes the need to understand that everyone experiences money differently based on their background, culture, and values. Financial planning tools and systems should reflect this diversity.

– Building empathy and trust: Dr. Watkins encourages financial planning professionals to practice self-reflection and introspection to build empathy and understanding with their clients. This can lead to better communication, trust, and stronger relationships.

– Importance of inclusive financial planning: Dr. Watkins talks about the importance of involving all voices in creating financial planning models, methods, and tools. This can ensure that everyone’s needs are being addressed

– The power of self-reflection: Dr. Watkins shares her personal journey with her husband, where their disagreements around money led them on a journey of self-reflection and introspection. This strengthened their relationship and taught them how to communicate better during their money conversations. She encourages her financial planning students to practice self-reflection for themselves, which builds more understanding and trust with their clients.