The profession of psychology demonstrably lacks diversity, with inequitably low numbers of visible minorities represented in the field. Although equity, diversity, and inclusion as a social advocacy movement has received increasing attention within the profession and at the university level, changes are thus far too small to be noticeable. Little is known about the lived experiences of minority applicants applying to professional psychology graduate programs nor the experiences of faculty members involved in student selection processes. We interviewed eight unsuccessful minority applicants, and eight faculty members affiliated with Canadian professional training programs to identify obstacles in diversifying the profession. Thematic analysis of interview data revealed that obstacles were multifaceted, ranging from unsuccessful minority applicants reporting lack of support during the application process and feeling worried about the impact of their identities to faculty members expressing insufficient resources to provide mentorship experiences to minority undergraduate students. We discuss the practical implications of the obstacles identified in relation to how to dismantle those systemic barriers.