Miranda Reiter’s work in financial services 20 years ago inspired her to switch careers so she could make the profession better for Black advisors and the communities they serve.
“What really got me interested in taking on this mantle of DEI were my own personal experiences,” said Reiter, who went from banking and financial planning to a Ph.D. program and now teaches at Texas Tech. “I saw a lack of diversity, a lack of inclusivity as a financial planner myself. And I want to change that for the future generation.”
Detecting a dearth of research on diversity within financial services, Reiter focused on that area, last year publishing her dissertation, “Racial and Gender Preferences When Hiring A Financial Planner: An Experimental Design on Diversity in Financial Planning.”
Earlier this year she published a book for consumers, “Six Steps to Manage Your Money.” She also speaks on diversity within financial planning and was part of a team that built the first certification program for DEI, which is available through The National Association of Personal Financial Advisors.
Reiter’s work in academia is not only preparing future professionals in financial planning, wealth management and retirement, it’s also sparking additional interest in research on diversity within financial services. Last year, she began teaching a self-designed graduate course, Diversity, Equity and Inclusion in Financial Planning Research, which is the first of its kind in the country. Eleven Ph.D. students took the course when it became available last semester.
“What is so empowering to students is that they walked away from the class not only understanding the problems, issues and challenges … but [also] being able to know how to answer pressing questions and perhaps provide solutions by conducting their own research in this space,” Reiter said. “This is so important to help move our profession forward.”
— Emile Hallez