Does this mean that the Lord in James 1:7 is then Jesus Christ who is also being asked for wisdom?
Jesus himself prayed to his God, the Father. To say that James 1:7 mean that Jesus Christ is being ask for wisdom is contradictory to what Jesus taught in Matthew 6 about prayer. Jesus is lord because his God made him both lord and Christ as Acts 2:33-36 show. (Abraham was Sarah's lord, 1 Peter 3:6; Genesis 18:12) was Abraham then Sarah's only true God?
Acts 2:33-36
33 Being therefore by the right hand of God exalted and having received of the Father the promise of the Holy Spirit, he hath poured forth this, which ye see and hear. 34 For David ascended not into the heavens: but he saith himself, The Lord said unto my Lord, Sit thou on my right hand, 35 Till I make thine enemies the footstool of thy feet. 36 Let all the house of Israel therefore know assuredly, that God hath made him both Lord and Christ, this Jesus whom ye crucified.
1 Peter 3:6 ASV
as Sarah obeyed Abraham, calling him lord: whose children ye now are, if ye do well, and are not put in fear by any terror.
Genesis 18:12
Therefore Sarah laughed within herself, saying, After I am waxed old shall I have pleasure, my lord being old also?
The fulfillment of Psalm 110:1 as shown in Acts 2:33:36 shows us that Jesus is not YHWH/Yahweh/Jehovah/the LORD. Jesus is the one that Jehovah made lord and Christ. Jesus was never the God of the Old Testament Abraham, Isaac, or Jacob or the New Testament as Acts 3;13 shows
Acts 3:13
The God of Abraham, and of Isaac, and of Jacob, the God of our fathers, glorified His child Jesus, whom you delivered up, and denied Him in the presence of Pilate, he having given judgment to release [Him],
"LORD” or “the LORD” in the OT represents (YHWH) God. This is not to be confused with the Greek word Kurios, which is used for Jesus and is a title of respect, honor, and authority. The title “Lord” is used by many people in the Bible not just to God and to Jesus. God made Jesus both lord and Christ. Nobody makes God lord.
Examining LORD and lord we find Jesus referring tp Psalm 110:1 in Matthew 22:44=45
Matthew 22:44=45 Literal Standard Version
The LORD said to my Lord, | Sit at My right hand, | Until I may make Your enemies Your footstool? If then David calls Him Lord, how is He his son?
The 1st LORD in Psalm 110:1 is Jehovah/YHWH. The second lord is translated from the Hebrew word adoni as Biblehub shows it.
to my Lord:
לַֽאדֹנִ֗י (la·ḏō·nî)
Preposition-l | Noun - masculine singular construct | first person common singular
Strong's 113: Sovereign, controller
My Lord.--Heb., adoni, an address of honour to those more noble than the speaker, or superior in rank: to a father, Genesis 31:35; to a brother, Numbers 12:11; a royal consort, 1Kings 1:17-18; to a prince, 1Kings 3:17; with the addition of the royal title, "my Lord, O king," 2Samuel 14:19.
The word adoni is a title which never refers to God.
Was Jesus given the name YHWH/LORD? No. Jesus or Jehoshua is his name. It is not YHWH /Yahweh/Jehovah. Young's Literal Translation shows YHWH, LORD as Jehovah in ISAIAH 45:5 YLT we read,
I am Jehovah, and there is none else, Except Me there is no God, I gird thee, and thou hast not known Me.
The construction of theophoric names, starting with the letters “Jeho” is evidence that God’s name is actually ‘Jehovah’ (and that Christ’s name is actually Jehoshua)”– Smith’s 1863 “A Dictionary of the Bible” Section 2.1
1 Corinthians 15:27-28 shows that even if everyone confesses Jesus Christ is Lord, he still is subject to his Father/ God.
27 For, “He put all things in subjection under his feet.” But when he says, “All things are put in subjection”, it is evident that he is excepted who subjected all things to him. 28 When all things have been subjected to him, then the Son will also himself be subjected to him who subjected all things to him, that God may be all in all.