Entrepreneurship not a decision, but a necessity for many in trans community

When it comes to all things financial planning, Laura Whiteland, CFP, CIM knows what she’s doing. Right off, you can tell by all the letters after her name.

She has worked as an investment advisor and portfolio manager, with securities licensing including derivatives and options—which is some of the highest certification you can attain in the investment industry. She has also worked with multiple large Halifax financial institutions in various roles and has experience with personal and business lending, banking and mortgages.

And until she was 25, she presented as a white man.

Unsurprisingly—with cis white men a dime a dozen in the world of big finance—business was good for Laura. But when she transitioned, that sturdy professional acceptance and room for growth she had enjoyed crumbled beneath her.

“I burned my career to the ground and nobody wanted me,” said Whiteland. “There was a resounding no, so I realized that if I wanted to do what I was good at and what I know how to do, I was going to have to do it myself.”

And that’s exactly what she did.

Whiteland founded Inclusive Financial Planning, with the mission of making financial advice accessible to everyone. She says that a lot of the work that she does is for folks—like herself—that don’t fit into traditional systems. They don’t have millions to invest in a mutual fund, so they don’t fit into the standard matrix of profitability.

“I want to make financial planning accessible and that means not making the most money possible on every transaction,” said Whiteland. “I’m trying to help people make a living doing what they’re best at.”

For her—and many in the trans community—entrepreneurship was not a decision, but a necessity.

Whiteland was one of two panelists at last Thursday’s SURGE Networking: Pride in Entrepreneurship event—hosted by the Halifax Chamber of Commerce at The Prince George Hotel. The event was dedicated to celebrating Pride and empowering 2SLGBTQ+ entrepreneurs and professionals to thrive in their businesses.

The panel was moderated by Joanne Bernard, the first openly gay MLA in Nova Scotia and current CEO of Easter Seals Nova Scotia.

Joining Whiteland to share her experience was Chris Cochrane—a trans Black activist and public speaker. Cochrane works toward creating spaces for QTBIPOC people, as well as working with 2SLGBTQIA+ youth to ensure those spaces will be upheld for years to come. She was recognized for her work with the YMCA Peace Medal for Equity, Diversity & Inclusion (EDI). She is also the former vice-chair of Halifax Pride.

For both women being interviewed on the panel, the word of the day was necessity. It popped up over and over, but in a variety of different contexts.

Cochrane said her work in EDI was borne out of necessity and started with her helping her fellow trans people. “I’m a Black trans woman, so I’ve never felt safe in any space,” said Cochrane. “I stand in so many sections. I’m Black, trans, plus size. My job really is to work myself out of a job!”

And with the current political climate—and the term “EDI hire” on many a conservative lips—she is quick to point out that we still have a lot of “polite” ignorance in Canada and that EDI hire has negative connotations on this side of the border too.

For many companies, EDI is considered a “have to do”—and that is reflected in grants, access to capital, hires and funding available for this kind of work.

“I call it a token tax. People want to hire me not as a means to grow and develop, but to check a box,” said Cochrane. “I don’t get it based on merit or hard work, but because I’m a Black trans woman and that makes me annoyed that I have to take their money.”

And once she takes their money, they want to make her the poster child on their website and send out news releases about how seriously they take EDI. “I have so many people that want to talk to me and give me stuff during Pride month or Black History month, but the rest of the year, nobody wants to talk to me.”

Whiteland doesn’t have that problem because she can’t secure any funding at all.

“Banks won’t lend me money, so I just don’t bother,” she said. “I’m the first openly trans financial planner in the country, so I don’t have any mentorship and I’m just stumbling blindly ahead. What I do and who I am doesn’t fit into any programs or funding.”

Being openly trans in business is hard. Period. But for both women, the goal is helping move other trans people forward, to reach their goals and to provide access to things that were not formerly available to them. But it’s not easy and it comes with risk—both financial and physical.

“I don’t hide that I’m trans because I don’t think I should have to, but also, I’m really bad at it! I deal with the ramifications and consequences of that, but I don’t see any other alternative,” said Whiteland.

Cochrane said the physical risk is scary and that the constant hate does wear her down. She’s on target lists for alt-right groups like Diagolon and Proud Boys, has been doxed three times and shot once.

“It wears down on who you are, but then I meet a trans youth who is coming out to me and that’s what I hold on to,” said Cochrane. “I have to keep doing the work out in the world so that people can’t say they ‘don’t know’ about these issues anymore.”

The huge elephant in the room was the disconnect between the moderator Bernard and the two panelists as she tried hard to relate her experience as a lesbian to theirs as trans women. She kept alluding to her “choice to come out” and “celebrating how far things have come” and it was impossible to ignore the panelists’ discomfort with Bernard’s choice of terms.

“I think we need to point out that there is a canyon of difference between trans people and queer people,” said Whiteland. “People are always saying ‘things are so much better’, but who are they better for? Who have you brought along with you? Are you being an ally to the whole community or just the parts that make you comfortable?”

The conversation about allyship can sometimes be a difficult one, but again, it’s a necessity for progress. It’s imperative for people in the queer community with more privilege—like lesbian white women—to bring the rest with them.

The panel wrapped up with both women driving home the importance of lived experience and its impact on helping communities and businesses move forward. Cochrane talked about “organic” allyship and diversity.

“Companies hire people like me because they think that by having someone that’s trans, it will change the dynamic. You’re putting that person in a tough spot because now they have to become an educator,” says Cochrane. “We just want to be in a place where it’s like ‘we’re here, we’re trans and we’re doing our job, so you can’t ignore us.’ And if people don’t let you have a seat at the table, flip the table and take up the space.”

And how can you tell if your organization is progressing? Cochrane says it’s pretty simple: “Just look around your boardroom table and make sure that not everyone looks the same.”