I never realised there was such a corporate market for Lesbian/Gay/Bisexual/Transgender - but according to this interview with Bob Witeck and Wes Combs, it's a pretty huge $641 billion market:
Ten Money Questions for Bob Witeck & Wes Combs
What's really interesting is how brand loyalty among LGBT get's factored into savings and investments:
Quote:
With the increased visibility of same sex couples, we will see more financial institutions and insurance companies respond by tailoring and marketing their products and services to the needs of these couples and their family needs. Given that federal and state laws put us in a legal limbo, we need more protections and confidence that we have our house in order.
Today, a significant majority of outreach to the public is focused on the heterosexual couple and if there is any tailoring, it is done towards ethnic or gender groups. Research shows that LGBT consumers want to deal with an openly LGBT financial planner or one that understands their unique needs.
In addition, the number of retirement and adult living communities targeting LGBT residents are expanding. The baby boomer generation is out in much greater numbers that the previous generation and they want to spend the next decades of their lives in places that welcome them and that feel safe. These new retirement communities targeting LGBT people are helping fill that void.
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LGBT investing
