Experts: Gay, lesbian niche market is an opportunity for advisers

12/24/2012 |

As same-sex marriage becomes legal in three more states -- Maryland, Maine and Washington -- an increasing number of financial-planning firms are targeting this niche market. Such marriages are not federally recognized, which can present a problem with estate planning and other tax concerns. "A lot of times, our LGBT clients just don't understand all the hurdles they really face. As we've been out there explaining them, they realize the value and benefit we really bring," said John McGowen of Northern Trust.

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