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Tips for Finding an LGBTQ+ Financial Planner

Tips for Finding an LGBTQ+ Financial Planner

September 14, 2023

A financial planner helps ensure your financial goals align with your values


A recent Experian survey found that 62% of LGBTQ+ respondents said their gender identity or sexual orientation caused them to experience financial challenges. Fortunately, having an LGTBQ+-friendly financial planner can help uncover potential financial hurdles that many members of the LGBTQ+ community face. Unfortunately, finding a financial planner who is LGBTQ+ friendly can be challenging.

The following are strategies to help.

Ask for Recommendations

The first step in finding an LGBTQ+-friendly financial planner is to ask for recommendations from friends, family, and colleagues who are also members of the LGBTQ+ community. They may be able to recommend someone who they have worked with and who they trust.

Look for Certifications

Look for financial planners who have specialized certifications that demonstrate their expertise in working with the LGBTQ+ community. For example, the Certified Financial Planner (CFP) designation requires financial planners to complete coursework in ethics and diversity, which can help ensure that they have a good understanding of the unique financial challenges faced by the LGBTQ+ community.

Research Online

Another strategy for finding an LGBTQ+-friendly financial planner is to research online. Look for financial planners who have experience working with LGBTQ+ individuals and families and who have positive reviews and testimonials from clients in the community.

Check Professional Organizations

Check with professional organizations like the National Association of Personal Financial Advisors (NAPFA) or the Financial Planning Association (FPA) to find financial planners who have expertise in working with the LGBTQ+ community.

Ask for References

Once you have identified potential financial planners, ask for references from current or past clients who are also members of the LGBTQ+ community. This can give you a better sense of their experience working with the community and how they approach financial planning.

Finding an LGBTQ+-friendly financial planner requires research and due diligence. But by following these steps, you can potentially identify a financial planner who not only understands the unique financial challenges faced by the LGBTQ+ community but is also accepting and supportive of the community.

Working with an LGBTQ+-friendly financial planner can help align your financial goals with your values and help you find the support and guidance you need to pursue them.

 


Important Disclosures

The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.

All information is believed to be from reliable sources; however, LPL Financial makes no representation as to its completeness or accuracy.

This article was prepared by FMeX.

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