Prudential’s LGBT Financial Experience: Plenty to Celebrate a Year after Obergefell, but a Long Road to True Financial Security
June 02, 2016 at 04:05 am IST
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Prudential Financial (NYSE:PRU) on June 23 will release its first survey
of LGBT Americans since the U.S. Supreme Court ruled that states must
permit same-sex marriages. Prudential’s 2016/2017 LGBT Financial
Experience explores a range of changes following the year-ago
landmark Obergefell decision and since the company’s groundbreaking 2012
survey. Those changes have provided reason to celebrate, but there is
still much work to be done.
Among the highlights:
Prudential surveyed LGBT Americans in all 50 states during April and
May to better understand their household dynamics, financial
situations, listen to their fears and concerns, and to gain insight
into their spending habits, including whether they are saving money or
planning for retirement.
Since the June 26, 2015 Obergefell decision, many surveyed are more
concerned about broader economic forces hindering their ability to
succeed financially, than about LGBT-specific rights issues.
The survey highlights notable differences between generations, between
singles and couples, and between those with or without children.
The number of married gay, lesbian and bisexual couples has doubled
since 2012, changing many of the community’s financial needs.
But the survey found that wage equality, workplace security and
housing rights issues still cast a shadow on the community’s ability
to attain true financial security.
Please join Prudential to hear the study’s specific findings during a
media briefing at 10:30 a.m. EDT, Thursday, June 23, at the LGBT Center
in New York City. Follow updates on Twitter: @PrudentialNews
and #PruLGBT
WHAT:
Release of Prudential's 2016/2017 LGBT Financial Experience
WHEN:
10:00-11:30 a.m. EDT, Thursday, June 23, 2016
WHERE:
The
Lesbian, Gay, Bisexual & Transgender Community Center
208 West 13th St., New York, N.Y. (Between 7th
and 8th Avenues)
WHO:
Kent Sluyter, president and CEO, Prudential
Individual Life Insurance
Glennda Testone, executive director, The Center
Josh Stoffregen, VP, Communications, Prudential
*Additional speakers to be announced
View source version on businesswire.com: http://www.businesswire.com/news/home/20160601007054/en/
Prudential Financial, Inc. specializes in supplying financial services to private and institutional customers. Revenues break down by activity as follows:
- retirement insurance (25.4%);
- individual life insurance (11.4%);
- group insurance (10.3%): primarily life and disability insurances;
- individual fixed and variable annuity management (8.2%);
- portfolio and mutual fund management (7.5%): USD 1,524 billion in assets under management at the end of 2021;
- other (0.9%).
The remaining revenues (36.3%) are from international activities.
Revenues are distributed geographically as follows: the United States (63.8%), Japan (26.6%) and other (9.6%).