A Partner for Unique Planning Needs
Hunter Coleman, Hilltop Securities
Why it Matters
LGBTQ+ Financial Planning
If you’re part of the LGBTQ+ community, finding a certified financial advisor in Austin, Texas who is also LGBTQ+ can be both important and challenging. Money is personal. What works for one person may not work for you. But here’s the thing: Financial planning should be available to every person.
You deserve the absolute best financial advice, and finding a financial advisor who caters to your unique financial needs as an LGBTQ+ person can make all the difference. LGBTQ+ individuals and couples may face unique financial and legal considerations when planning for life’s important events. We’re here to help you navigate them.
Hunter Coleman and his fiancé, Ransom Ashley
Meeting The Challenge
The LGBTQ+ Wealth Obstacle
The Millennial generation is known for its distrust of Wall Street and lack of self-assurance when it comes to money, investing and getting ahead. But LGBTQ Millennials are even less confident than their straight peers when it comes to managing their finances and achieving the American Dream, according to a survey from TD Ameritrade.
While some similarities existed there were also glaring disparities. Those differences suggest that LGBTQ Millennials are lagging behind their straight peers in key areas such as pay, financial literacy and confidence in their long-term financial futures. Only about a third (35%) of LGBTQ Millennials surveyed said they were likely by age 40 to achieve the "stereotypical" American Dream — owning a home, getting married, having kids, landing a good job and investing in a 401(k). That compared with nearly half (49%) of straight Millennials.
LGBTQ Millennials were also less optimistic about reaching their financial goals and saw themselves as lacking the expertise to invest for the future. In my experience, when individuals feel less secure, it impeded their ability to improve their finances.
Despite the long-standing barriers facing LGBTQ+ people in gaining access to financial education and financial services, LGBTQ+ personal finance now offers a way for many to improve their financial literacy in more convenient ways than ever before. While investing early and regularly is one of the most effective ways to secure a financially comfortable retirement, it’s never too late to build wealth and support the next generation of LGBTQ+ people.
Do I Need to Plan Differently?
Your financial plan should be unique. As an LGBTQ+ advisor that works with many LGBTQ+ clients in Texas, I am often asked, “Does financial planning look different for LGBTQ+ couples?”
While your financial goals may be unique to your situation, the framework to how we deliver holistic financial planning as advisors remains consistent. This is true whether I meet with LGBTQ+ or heterosexual couples. Everyone needs an estate plan or should understand the role of insurance in their financial portrait. In short, these planning fundamentals apply to all communities.
That said, there are certain distinct considerations the LGBTQ+ community should be aware of when it comes to financial planning. Whether starting your financial plan from scratch or performing an annual refresh, financial planning is essential to ensure you are meeting your goals across your lifetime. These goals can sometimes be more complex for members of LGBTQ+ community to achieve.
To help navigate these intricacies, it’s smart for all couples – but especially LGBTQ+ couples – to work with skilled and supportive professionals who understand these unique challenges. Connect with us below to speak with an advisor today to find out how we can partner with you to make sure your financial plan reflects your goals and values.
While your financial goals may be unique to your situation, the framework to how we deliver holistic financial planning as advisors remains consistent. This is true whether I meet with LGBTQ+ or heterosexual couples. Everyone needs an estate plan or should understand the role of insurance in their financial portrait. In short, these planning fundamentals apply to all communities.
That said, there are certain distinct considerations the LGBTQ+ community should be aware of when it comes to financial planning. Whether starting your financial plan from scratch or performing an annual refresh, financial planning is essential to ensure you are meeting your goals across your lifetime. These goals can sometimes be more complex for members of LGBTQ+ community to achieve.
To help navigate these intricacies, it’s smart for all couples – but especially LGBTQ+ couples – to work with skilled and supportive professionals who understand these unique challenges. Connect with us below to speak with an advisor today to find out how we can partner with you to make sure your financial plan reflects your goals and values.
Contact Us
Discover LGBTQ Value Creation
LGBTQ+ individuals and couples may face unique financial and legal considerations when planning for life’s important events. We’re here to help you navigate them. As fiduciaries, we are committed to serving your best interest and will do everything we can to help you reap the rewards of your hard work. To find out what we can do for you, your family and your business, contact us for a free and personal consultation.