Marketing Financial Advice for the LGBTQ+ Community

Do you have a welcome sign on the front door of your business? Financial advisors Nila Tatum and Gloria Franz of Franz Tatum Wealth Management felt a need to make sure everyone knew, at their business, ALL are welcome.

That was the basis of a marketing campaign they created for the LGBTQ+ community. Nila and Gloria understood that their LGBTQ+ clients needed advice on navigating extra complexity surrounding issues like childcare, medical rights, and survivor benefits.

On top of that, some of those clients worried the wrong financial advisor might pass judgment of their lifestyle. “We see a significant need (for financial planning) within the LGBTQ+ community where there’s always a concern of acceptance,” Nila says.

It’s an issue they wish didn’t even need to be addressed, but Nila and Gloria also believe it’s been largely ignored in the traditionally conservative field of financial services.

“I personally feel like this shouldn’t even be something that we need to make a stand on, but I felt like we did need to,” explained Gloria. “We needed to share with the world what our views are so that people understand who they’re working with because not everyone is in the same place.”

Standing Out in the Sea of Sameness

It’s no secret that the mainstream financial advising community markets to high-net-worth retirees, typically using imagery of white, heterosexual couples.

In recent years, the advising profession has made no secret about its need to recruit more diverse advisors.

According to the CFP Board, fewer than 3.5% of financial advisors are Black or LatinX. It’s unknown how many identify as LGBTQ+, as the Board only announced in 2021 the option to choose a nonbinary gender.

Speaking to Your Target Audience

Video marketing works best when it directly addresses the needs of your target audience. That’s why Nila and Gloria built a specific landing page for their LGBTQ+ video called ‘Modern Families.’

A quick search of the same term on Google in reference to financial advice yields a long list of similar resources, maybe signaling that more advisors want to be allies too.

It’s something that Gloria says is “very important in today’s world.”

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