presented by
This program presents possible explanations for the fact that Black and Hispanic households are underrepresented among financial planning professionals and consumers by determining whether Black and Hispanic households differ from White households in their preferences for financial service professionals. I present descriptive results highlighting the large differences in financial assets and net worth between racial/ethnic groups and other characteristics that are known to be predictors of financial service use. The results indicate that certain obstacles may inadvertently be preventing Black and Hispanic households from using financial planners.