Morgan Stanley has announced the launch of an LGBT initiative to provide its financial advisors with wealth planning tools, business development and marketing resources designed specifically for LGBT prospects and clients.
The new client educational resource – LGBT On Your Terms – is available to help same-sex couples understand the factors that are likely to affect their family’s finances and long-term plans.
“In today’s ever-changing financial and legal environment, it is important for LGBT couples to work with a wealth management organization that specializes in LGBT wealth planning issues,” said Douglas J. Ketterer, Head of Morgan Stanley’s U.S. Field Management.
“Same-sex marriage is legal in Iowa, Massachusetts, Connecticut, Vermont, New Hampshire, New York, Washington and the District of Columbia, and voter-approved freedom to marry laws in Maine and Maryland are being implemented. The other remaining states have either a variety of civil union laws or no legal standing at all for same sex couples.
“This has created a host of financial planning complications for the LGBT community, including what to do when buying a home, making a will, designating beneficiaries, transferring assets and making sure partners have hospital visitation rights, and we are equipping our financial advisors with the tools they need to advise on these and other issues,” Ketterer said.
The Firm’s Diversity Council, a 19-member group of Financial Advisors and branch managers who meet periodically to advise management on diversity issues, contributed to the development of the initiative.
Despite the fact that one in three women have abortions in their lifetime, the long-standing stigma surrounding the procedure still persists. Planned Parenthood Generation Action at Virginia Commonwealth University partnered with Richmond Reproductive Freedom Project to host an event in hopes to help change that. The Abortion Speak Out, which took place Thursday at Firehouse Theatre [...]