Friday, January 7, 2011

Northern Trust launches marketing initiative targeting well-off gay singles and couples

Miami Herald columnist Steve Rothaus  reports that Northern Trust has announced its formal launch of a "Lesbian, Gay, Bisexual, Transgender (LGBT) and Non-Traditional Family Practice," which will begin by serving customers in South Florida.
     Northern Trust isn't the only bank reaching out to LGBT clients. Bank of America, Goldman Sachs, Wachovia and many others also actively compete for gay investment dollars.
     "Regardless of advertising, the client should interview different investment firms to understand if the investment approach is right for them and if there's a connection with the people they'll be working with," said Gene Sulzberger, senior vice president at PRS Investment Advisory in Miami. "Don't rely solely on a company putting marketing dollars behind an LGBT campaign."

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