How Financial Planning Helps Overcome Systemic and Structural Oppression with Kathleen Boyd
Today, Ed is joined by Kathleen Boyd, CFP®. She’s a Financial Planning and Process Coach with XY Planning Network, and a professor at Oklahoma State University.
Listen in as Kathleen dives into the human element of financial planning, of what it means to navigate love and money.
As a queer black woman who grew up in public housing, she looks back on the intimidation she felt early in her career of becoming an advisor to multimillionaire clients and working alongside mostly white co-workers and managers.
Kathleen highlights the importance of financial therapy in anyone’s financial journey. She calls it a powerful piece of the puzzle that shouldn’t end only with strategy and planning. Failing to address deep-seated beliefs, fears, and desires is one of the biggest reasons even a wealthy person can feel financially destitute.
Finally, Kathleen unpacks the phenomenon known as “singleism,” defining it as “the social and institutional discrimination that single people face simply due to their marital status.”
She and Ed agree on the often unfair advantages that married people have over singles, and even over those in polyamorous relationships. They offer their thoughts on how both the government and the financial industry can fill the gap.
- How Kathleen got into financial planning (02:31)
- Advising ultra-high-net-worth clients (07:18)
- Gaining confidence over the years (11:58)
- After Wells Fargo and joining the Orange County FPA chapter (14:42)
- Why even those who make a lot of money can perceive themselves as broke (23:45)
- Love and money in the context of single people (32:25)
- Defining “singleism” (35:11)
- Myths around married people (38:57)
- How the polyamorous community is severely underserved by the industry (45:52)
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