How Advisors Can Better Serve LGBTQ+ Clients

Evan Harp sat down with financial advisor Ramona Maior. Maior reflected on how financial advisors can better serve LGBTQ+ clients. She offered a number of quick and useful tips for advisors. 

Evan Harp: What is the biggest challenge financial advisors have when it comes to how they handle LGBTQ+ clients and their issues?

Ramona Maior: One of the biggest challenges advisors face with LGBTQ+ clients is a lack of understanding. There are several financial and legal considerations that clients may encounter complexities that require additional care and consideration, such as adoption and gender-affirming surgery.

Harp: What’s one thing every advisor could do to make their practice more welcoming to LGBTQ+ people?

Maior: Openly display their commitment to diversity and inclusion on their website and social media outlets. Use inclusive language in content, and be open to sharing articles that specifically address LGBTQ+ issues.

Harp: How can LGBTQ+ investors find financial advisors who understand and respect their unique circumstances?

Maior: Ask for referrals from known LGBTQ+ community organizations. One is through the NGLCC, The National Gay & Lesbian Chamber of Commerce, as they have a database of LGBTQ+-certified businesses.

Harp: Any thought leaders you want to highlight?

Maior: Laura LaTourette has been an LGBTQ+ champion for decades, as a LGBTQ+ advisor and as part of a lesbian-owned firm, she practices what she preaches.

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