How to Be a Trans-Friendly Financial Advisor

As Pride month begins, financial advisors have an opportunity to reflect on how trans-friendly their practices are and take steps to make them warmer, more inclusive, and more appealing to transgender clients.

Here are six simple steps you can take to make your practice more trans-friendly.

Understand the Unique Fiscal Challenges Facing Transgender Clients

Transgender people face a host of challenges that complicate their financial journeys. They are often denied housing and jobs, creating additional financial hurdles. Additionally, many transgender people are rejected by their families of origin, meaning they are more likely to be cut off from generational wealth and inheritances.

If you want to go the extra mile, educating yourself on some of the realities transgender people face could help keep your empathy skills sharp. Do you have a working understanding of dysphoria? Do you know the difference between sex and gender? There are excellent educational opportunities available, but you don’t have to understand them to support them. Acceptance is the most important thing you can offer.

Use the Correct Pronouns

This one is relatively simple and can go a long way. Ask for preferred pronouns and try to use the correct ones. If you make a mistake apologize, correct yourself, and then move on without making it a big deal. It’s okay to make an error, nobody is perfect, just make sure you don’t center your own feelings if you do. A simple correction and moving on without fuss will go a long way for most people.

Another thing you can do is subtly correct any of your colleagues if they make a mistake. If you catch someone using the incorrect pronoun, politely correct them without turning it into a scene. This will help others get on board.