In this investment insight, we explore:
- The financial implications of marriage equality.
- The link between wealth and confidence.
- How the LGBT segment is changing the investment world.
According to recent estimates, the annual purchasing power of the LGBT community is $917 billion—slightly less than Hispanics ($1.3 trillion) and African Americans ($1.2 trillion), but greater than Asian Americans ($825 billion). Globally, LGBT consumers are spending in excess of $3.7 trillion, and their estimated household wealth worldwide is $5 trillion.
Yet for all of the legal and social progress that has positively impacted the LGBT community over the past several years, recent research reveals that LGBT investors are generally less confident, less diversified, and even invest less than non-LGBT investors. How this could impact their long-term financial goals—and what some high-net-worth and ultra high-net-worth LGBT investors are doing about it—is the focus of this article from Wilmington Trust.
Please see important disclosures at the end of the article.Download Article