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Talking About Money Difficult For LGBT Investors, According to Wells Fargo Study
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Matt Hurwitz @MattHurwitzWF
Sarah Tonigan @SarahToniganWF |
Talking About Money Difficult For LGBT Investors, According to Wells Fargo Study
Fewer Than Half In Same-Sex Marriages Seek Professional Guidance, Despite Ongoing Confusion Around Current Marriage Laws And Regulations
SAN FRANCISCO, June 26, 2014—One year after a Supreme Court decision and subsequent court decisions on same-sex marriage, Lesbian, Gay, Bisexual and Transgender (LGBT) investors still struggle to understand changing laws and are concerned about the financial and legal implications involved, according to a recent Wells Fargo survey. A majority of those surveyed (83%) do not fully understand how federal and state laws apply, including two-thirds (67%) of those who are currently in legal same-sex marriages. Despite the confusion, fewer than half surveyed (47%) who are in same-sex marriages or partnerships have sought guidance to help them figure out how recent court rulings and laws impact them personally.
Having Conversations
The survey showed that LGBT couples have a strong focus on the financial benefits and risks of marriage, but many LGBT couples are not having conversations about money. Just 37% of those surveyed who are in same-sex partnerships say new marriage laws have prompted new conversations about money. One in five (21%) report they rarely or never talk about money, while 25% say they talk about money “a lot.” More than one-third of survey respondents (38%) also admit that discussions about money have caused tension in their relationships.
More importantly, less than one-third of recently-married LGBT respondents have reviewed key components of their overall financial health for any changes or adjustments after getting married, including:
– Emergency savings (33%)
– A written retirement savings or investment strategy (28%)
– A plan or strategy to reduce debt (23%)
– A careful budget to manage spending (19%)
“So much has changed in the year since the DOMA rulings, and today same-sex couples can legally marry in nineteen states and the District of Columbia,” said Katherine Dean, Managing Director of Wealth Planning, Wells Fargo Private Bank. “These changes, however, don’t appear to be spurring on conversations about financial issues like saving, investing, and preparing for retirement. When the laws change in a relatively short amount of time, however, there are typically more questions than answers. As an industry, it’s incumbent upon us to provide the kind of information LGBT couples need to make sound decisions so they can achieve their financial goals.”
Seeking Advice
With recent changes in laws affecting same-sex relationships, more than half of surveyed LGBT investors (53%) would value professional guidance on wills and estate plans. A third would value help with powers of attorney (35%), tax issues (35%) and retirement planning (33%). Almost a quarter would value guidance on investing (24%) and beneficiary designations (23%). The survey found that needs vary among LGBT investors depending on their marital status.
Most of those surveyed have a preference for working with professionals who understand the unique needs of the LGBT community. Sixty-two percent of LGBT investors feel the financial considerations and needs of same-sex couples are different from heterosexual couples, but only half (49%) say they would feel comfortable walking into their local bank and talking about financial issues that affect them as an LGBT person.
“Every legislative action that affects domestic partnerships has the potential to impact the financial situations and investment goals of LGBT investors,” added Dean. “As financial issues become increasingly complex, LGBT investors see the merits of working with financial professionals specifically trained to understand the unique needs of LGBT couples.”
The current study showed that:
– Seventy-four percent prefer working with financial professionals who have other LGBT customers
– Sixty-seven percent prefer working with financial professionals specifically trained on issues facing LGBT couples
– Fifty-two percent prefer working with financial professionals who are LGBT themselves
Currently, LGBT investors give mediocre grades to their primary banks or financial institutions with which they do the most business. The average grade for being LGBT-friendly was a B; for being knowledgeable about new laws impacting LGBT customers, they received a C+; and for addressing the needs of LGBT customers, they received a C+.
Sixty-one percent of LGBT investors want to be married now or sometime in the future. Of this group, only 54% say commitment and love are the most important reasons to get married (vs. 80% in the U.S. overall), while 36% cite financial and legal rights as the most important reasons to get married (compared to 8% in the U.S. overall). The top three rights and benefits of marriage that LGBT investors believe to be most important are:
– Healthcare decision-making rights (61%)
– Insurance and healthcare coverage (58%)
– Inheritance rights (56%)
Wells Fargo Advisors – Accredited Domestic Partnership Advisor (ADPA) Program
The Accredited Domestic Partnership Advisor (ADPA) program was created, through a partnership with the College for Financial Planning, to educate advisors about the unique needs and financial considerations of same-sex couples and domestic partners. Financial advisors who earn this designation are well equipped to work with domestic partners and lesbian, gay, bisexual, and transgender (LGBT) clients to develop a thoughtful approach to help identify and work toward their financial goals. Wells Fargo Advisors created ADPA in conjunction with the College for Financial Planning. Today, Wells Fargo Advisors has more than 100 ADPA-certified financial advisors nationwide, more than any other firm in the country.
For more information on financial services offered to LGBT individuals and couples, please visit www.wellsfargo.com/LGBT.
About the Study
These survey findings are based on an online survey conducted April 8 – April 25, 2014 among 875 Lesbian, Gay, Bisexual, or Transgender (LGBT) investors nationwide. Qualified respondents were non-students, ages 25-75, who are the primary or joint financial decision-maker in the household with household investable assets of at least $25,000. Survey results are weighted to reflect the overall LGBT population in the U.S. based on LGBT and same-sex relationship status. The survey also included a national comparison sample of 400 general population investors, weighted to reflect current Census data for gender, age, race, ethnicity, household income, and region. Assuming no sample bias, the maximum margin of error is ±3% for the LGBT sample and ±5% for the full U.S. sample.
About Versta Research
Versta Research is a full-service market research firm, headquartered in Chicago, IL, specializing in customized strategic market research and public opinion polling. For more information, visit www.VerstaReserach.com.
About Wells Fargo Wealth, Brokerage and Retirement
Wells Fargo Wealth, Brokerage and Retirement (WBR) is one of the largest wealth managers in the U.S., with $1.6 trillion in assets. WBR includes Wells Fargo Private Bank, serving high-net-worth individuals and families; Wells Fargo Advisors, the third-largest brokerage firm in the U.S.; Wells Fargo Retirement, which manages $310 billion in employer-sponsored retirement plan assets for 3.7 million Americans; and Abbot Downing, serving ultra-high-net-worth individuals and families. Wells Fargo Advisors is the trade name used by two separate registered broker-dealers: Wells Fargo Advisors, LLC and Wells Fargo Advisors Financial Network, LLC, Members SIPC, non-bank affiliates of Wells Fargo & Company.
About Wells Fargo (Twitter @WellsFargo)
Wells Fargo & Company (NYSE: WFC) is a nationwide, diversified, community-based financial services company with $1.5 trillion in assets. Founded in 1852 and headquartered in San Francisco, Wells Fargo provides banking, insurance, investments, mortgage, and consumer and commercial finance through more than 9,000 locations, 12,500 ATMs, and the internet (wellsfargo.com), and has offices in 36 countries to support customers who conduct business in the global economy. With more than 265,000 team members,Wells Fargo serves one in three households in the United States. Wells Fargo & Company was ranked No. 29 on Fortune’s 2014 rankings of America’s largest corporations. Wells Fargo’s vision is to satisfy all our customers’ financial needs and help them succeed financially. Wells Fargo perspectives and stories are also available at blogs.wellsfargo.com and at wellsfargo.com/stories.
# # #
Wells Fargo Wealth Management provides products and services through Wells Fargo Bank, N.A. and its various affiliates and subsidiaries.
Wells Fargo & Company and its affiliates do not provide legal advice. Please consult your legal advisors to determine how this information may apply to your own situation. Whether any planned tax result is realized by you depends on the specific facts of your own situation at the time your taxes are prepared.
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PRESS ROOM: Southern University Just Made HBCU History. The National Championship Is Next.
NNPA NEWSWIRE — Southern University’s competitor, Coby Robinson, delivered the performance that sealed it. Down a game to Indiana University East, Robinson came back to win Game 2 by a commanding 41-21 margin. Game 3 went to overtime, and with the season on the line, Robinson executed a perfect field goal to close it 45-42 and send Southern University to the national stage.
BATON ROUGE, LA
For the first time ever, an HBCU has qualified for the ECAC EA Sports College Football Division 2 National Championship, and that program is Southern University, and that moment belongs to Baton Rouge.
This happened by design. Southern University has been building something inside the Esports Innovation Lab that most institutions are still trying to figure out. The Digital Gaming Ecosystem, known as EDGE, was designed from the ground up to develop students who compete at the highest level and carry the institution’s name with distinction. Wednesday night is proof that the investment is working.
Southern University’s competitor, Coby Robinson, delivered the performance that sealed it. Down a game to Indiana University East, Robinson came back to win Game 2 by a commanding 41-21 margin. Game 3 went to overtime, and with the season on the line, Robinson executed a perfect field goal to close it 45-42 and send Southern University to the national stage.
Christopher Turner, Director and Head Coach of Southern University EDGE, captured the weight of the moment: “This is a monumental moment for Southern University and for the entire HBCU landscape. This is about showing the world that our excellence in esports is just as historic as our excellence on the football field.”
The Jaguar community now has one clear assignment, and that is to show up in force.
The championship match is set for Wednesday, April 22, 2026 at 7:00 PM CST. Southern University enters as the No. 2 seed, facing No. 1 Bellarmine University in a matchup that the entire HBCU world will be watching.
Watch the full semifinal comeback: Twitch Semifinal Broadcast
Stream the championship live at twitch.tv/subr_esports, and if you are in Baton Rouge, attend in person at the Esports Innovation Lab inside the Southern University Student Union.
Southern University has always competed at the highest level, and now the entire nation is watching to see what the Jaguars will do with this moment.
Championship Match Details Matchup: No. 1 Bellarmine University vs. No. 2 Southern University Date: Wednesday, April 22, 2026 Time: 7:00 PM CST Stream: twitch.tv/subr_esports In-Person: Esports Innovation Lab, Southern University Student Union
About Southern University Esports (EDGE) Southern University’s Digital Gaming Ecosystem exists to prove that Jaguar excellence has no ceiling. Through competitive gaming, content creation, and STEAM-based career development, EDGE prepares students for the evolving digital landscape while writing new chapters in HBCU history.
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Revolve Fund to Provide $20,000 to Support Food Access Efforts in Alabama Black Belt
THE AFRO — “Revolve Fund complements its core mission of improving capital access for entrepreneurs by partnering with leading organizations that are addressing critical community needs,” said James Wahls, founder and managing director of Revolve Fund. “Like BBCF, Revolve understands at the most fundamental level, everyone should have access to healthy food.”
By Revolve Fund | The AFRO
SELMA – As over 40 million Americans grappled with the reality of not being able to feed themselves or their families due to SNAP delays, Revolve Fund is seeking to help. Revolve Fund has announced a $20,000 community grant to the Black Belt Community Foundation as part of the duo’s continued partnership. The grant will increase the foundation’s capacity to execute programs and fundraise to support food access efforts in the Alabama Black Belt region.
“Revolve Fund complements its core mission of improving capital access for entrepreneurs by partnering with leading organizations that are addressing critical community needs,” said James Wahls, founder and managing director of Revolve Fund. “Like BBCF, Revolve understands at the most fundamental level, everyone should have access to healthy food.”
“BBCF is deeply grateful for the Revolve Fund’s grant to underwrite direct food support in the Black Belt during the current disruption of SNAP benefits, continuing high food costs and unprecedented strain on our local food banks,” said Christopher Spencer, president and CEO, Black Belt Community Foundation. “As BBCF mobilizes resources and community partners during this time, Revolve is one of the first philanthropic organizations to step forward to support our Food for Families in the Black Belt Campaign. We look ahead to our productive, continued partnership with them to positively impact and transform the Black Belt region of Alabama.”
“While our communities need and deserve so much more, we hope our contribution will support the foundation’s ability to work with other philanthropic partners, individual donors, charities, and public partners,” Wahls added.
#BuyBlack
PRESS ROOM: PMG and Cranbrook Horizons-Upward Bound Launch Journey Fellowship Cohort 2
NNPA NEWSWIRE — With this program, I was able to see that my peers were more than the narrative I had given them,” says Alan Carlisle, 10th-grade student at Cass Technical High School and 2026 Journey Fellow. “I learned the difference between critique and criticism, and I’ve grown as a young man alongside my peers.”
Detroit, MI — PMG Agency has launched Cohort 2 of the PMG Journey Fellowship in partnership with Cranbrook Horizons-Upward Bound (HUB), supported by the Flagstar Foundation, which has funded the fellowship since its inception. The Journey Fellowship equips students with tools to understand how narratives shape perception, opportunity, and identity, with post-program evaluation showing measurable growth in media awareness and discernment.
Building on HUB’s college access mission, the program examines how repeated messages influence judgment, reinforce bias, or attach limiting labels. Fellows are challenged to question assumptions and define themselves by their values and aspirations rather than inherited narratives.
Through structured dialogue and creative storytelling exercises, students strengthen critical thinking and confidence. They study how stories are framed in media and culture and learn how story functions not only as expression, but as strategy. Education and youth development professionals rated the PMG Journey Fellowship five out of five stars, with 100 percent reporting that the intellectual depth of the youth elevated or shifted their perception.
“With this program, I was able to see that my peers were more than the narrative I had given them,” says Alan Carlisle, 10th-grade student at Cass Technical High School and 2026 Journey Fellow. “I learned the difference between critique and criticism, and I’ve grown as a young man alongside my peers.”
The Journey Fellowship was designed and is led by Ken L. Porter, Executive Producer and Chief Visionary of PMG Agency. “When youth understand how narratives take shape, they move differently,” says Porter. “They become more thoughtful about what they accept, what they repeat, and how they define themselves.”
“It was powerful to partner with PMG Agency to bring the Journey Fellowship to HUB and introduce students to storytelling in a way that affirmed and strengthened their own narratives,” says Dillon A. Brown, Director of Development at HUB.
Katherine Morgan, President of the Flagstar Foundation, adds a call to action to future funders, “The PMG Journey Fellowship is the right type of program that you should be funding. This is important work.”
Cohort 2 also received support from the Wayne County Sheriff Youth and Senior Education Fund, with additional partnership from Project Boss Up and collaboration with Detroit CARES, an affiliate of The National CARES Mentoring Movement.
PMG Agency is a Detroit-based narrative change and experiential storytelling firm focused on elevating aspirational and authentic narratives through its Journey of Stories film series, the Black Excellence Impact Dinner series, and the PMG Journey Fellowship.
For more information, visit pmgjourneyfellows.com.
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PRESS ROOM: From Congress to Corporate America: NNPA Spotlights Visionaries in New Video Series
NNPA NEWSWIRE — For the next six weeks and beyond the “Leadership Matters” video series will be repeatedly broadcast on the NNPA’s www.BlackPressUSA and on numerous NNPA member publishers’ social media channels across the nation in addition to being highlighted in NNPA print and digital publications.
Washington, DC: The National Newspaper Publishers Association (NNPA), representing the Black Press of America, is pleased to announce the launch of our 2026 “Leadership Matters” video series.
Working in collaboration with Events DC and PKB Enterprises, with corporate support, the NNPA produced 6 exclusive thirty-minute-long video interviews featuring some of the nation’s most effective and transformative leaders.
For the next six weeks and beyond, the “Leadership Matters” video series will be repeatedly broadcast on the NNPA’s www.BlackPressUSA and on numerous NNPA member publishers’ social media channels across the nation, in addition to being highlighted in NNPA print and digital publications.
The following are the national leaders who have been videotaped for the NNPA “Leadership Matters” series: The Honorable Congressman James Clyburn and Rhonda Mims, Executive Vice President of AmeriHealth Caritas; The Honorable Congressman Troy A. Carter and Fred Humphries, Corporate Vice President of U.S. Government Affairs for Microsoft; The Honorable Congressman Steven Horsford and Dr. Steven Johnson, Executive Vice President of Events DC; The Honorable Senator Alsobrooks, D-MD, and Mamar Gelaye, Vice President of Amazon; and The Honorable Governor Wes Moore of Maryland.
The NNPA is grateful for the support and sponsorship from Amazon, Microsoft, Events, DC, AmeriHealth Caritas, Bayer, and the PKB Enterprises whose generosity enabled and made possible the production and distribution of the “Leadership Matters” video series.
Black History
PRESS ROOM: NBA Hall of Fame Nominee Terry Cummings Joins 100 Black Men of DeKalb County to Launch Victory & Values Initiative
NNPA NEWSWIRE — NBA Hall of Fame nominee and Basketball Legend Terry Cummings was administered the official member’s oath and ceremonially pinned during a special induction ceremony held on Friday, February 20th.
Cummings becomes an honorary member, joining other role model sports stars

NBA Hall of Fame nominee and Basketball Legend Terry Cummings has officially become an honorary member of the 100 Black Men of DeKalb County, marking a powerful new chapter for the 100 Black Men and youth development across the region.
Cummings was administered the official member’s oath and ceremonially pinned during a special induction ceremony held on Friday, February 20th. The moment signified more than membership — it marked the launch of the organization’s transformative new platform, the Victory & Values Initiative.
The Victory & Values Initiative is a groundbreaking youth development program designed to empower elementary and middle school students through a dynamic blend of sports, mentorship, and STEM exposure. The initiative focuses on building health, discipline, character, leadership, and access to opportunity — creating pathways for long-term academic and personal success.
“This is about more than sports,” said Cummings during the ceremony. “It’s about using the platform of athletics to teach life lessons, create access, and build the next generation of leaders.”
The induction ceremony also featured notable guests including NASCAR’s newest Star Driver, Lavar Scott and NASCAR Director of Athletic Performance, Phil Horton, who joined Cummings for a powerful Victory & Values Town Hall discussion. The Town Hall was moderated by renowned Sports Emcee John Hollins and focused on leadership, resilience, discipline, and the importance of mentorship in shaping young lives.
A “Day at NASCAR” for 75+ Youth

Cummings wasted no time getting to work. On his first full day as an honorary member, he joined his new brothers of the 100 Black Men of DeKalb County to host a “Day at NASCAR,” escorting more than 75 youth to a once-in-a-lifetime experience at EchoPark Motor Speedway (formerly Atlanta Motor Speedway).
The youth participants received behind-the-scenes access including: an exclusive tour of Pit Row, access to the Garage Area and exploration of the interactive Fan Zone.
The experience culminated with a surprise meet-and-greet and Q&A session with NASCAR Superstar Bubba Wallace, who shared insights on perseverance, preparation, and breaking barriers in professional sports.
The day served as a living example of the ‘Victory & Values’ Initiative in action — exposing youth to new industries, expanding their vision for the future, and connecting them directly with high- level mentors and role models.

Building Leaders Through Access and Mentorship
The 100 Black Men of DeKalb County – a chapter of the largest, national mentoring organization in the county – continues to expand its footprint with programs focused on academic excellence, economic empowerment, leadership development, and health & wellness.
The launch of ‘Victory & Values’ represents a strategic expansion of the organization’s impact
- intentionally integrating athletics and STEM to engage youth at an early age while reinforcing core principles such as integrity, accountability, teamwork, and perseverance.
“Our mission has always been to mentor the next generation,” said Vaughn Irons, President-Elect of the 100 Black Men of DeKalb County. “With Terry Cummings joining the brotherhood, along with partners in NASCAR and professional sports, we are creating unprecedented access and exposure for our youth. Victory & Values is about turning inspiration into structured opportunity.”
By connecting elementary and middle school students to professional athletes, executives, STEM professionals, and community leaders, the initiative aims to:
- Increase youth exposure to careers in sports business, engineering, and performance science
- Strengthen mentorship pipelines
- Promote physical wellness and mental resilience
- Build character-driven leadership at an early age
Open Invitation to Youth and Families
All youth are invited to participate in the Victory & Values Initiative, along with the other countless, impactful programs offered by the 100 Black Men of DeKalb County.
Parents and guardians seeking mentorship, leadership development, academic enrichment, and transformative exposure opportunities for their children are encouraged to connect with the organization.
As NBA Legend Terry Cummings’ induction demonstrates, Victory & Values is more than a program — it is a movement designed to build champions in life, not just in sports.
For more information about the Victory & Values Initiative or to enroll a student, contact: 100 Black Men of DeKalb County at Phone at 404.241.1338, [email protected] or Tee Foxx at 404.791.6525,
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PRESS ROOM: Civil Rights TV Launches in Selma as the World’s First 24/7 Civil Rights Television Network
ARIZONA INFORMANT — Civil Rights TV operates continuously on the Connect To Your City OTT platform powered by Connect2OTT, offering documentaries, news analysis, live discussions, educational programming, global civil rights coverage, and cultural storytelling. The channel functions as both a historical archive and a living platform addressing contemporary civil rights challenges.
Arizona Informant

SELMA, Ala. — Civil Rights TV, the world’s first 24-hour television network dedicated exclusively to civil rights history, education, and future equity, has officially launched on the Connect To Your City OTT platform powered by Connect2OTT.
The network debuts from Selma, Alabama — one of the most historically significant cities in the American civil rights movement — marking a new chapter in how civil rights stories are preserved, amplified, and carried forward for future generations.
Civil Rights TV operates continuously on the Connect To Your City OTT platform powered by Connect2OTT, offering documentaries, news analysis, live discussions, educational programming, global civil rights coverage, and cultural storytelling. The channel functions as both a historical archive and a living platform addressing contemporary civil rights challenges.
Civil Rights, Technology, and the AI Era
As technology and artificial intelligence increasingly shape access to information, media, and opportunity, Civil Rights TV launches at a moment when access to digital infrastructure itself is emerging as a civil rights issue.
Media fragmentation, misinformation, and uneven access to technology continue to reshape public discourse. While on-demand platforms have expanded individual content access, large-scale live broadcasting still faces challenges related to congestion, latency, and energy consumption.
Civil Rights TV leverages broadcast-efficient OTT architecture designed to reduce bandwidth usage and energy requirements, enabling continuous global distribution without placing added strain on network infrastructure.

Why Civil Rights TV Matters Now
Civil Rights TV is not only a media launch—it is a signal.
The network underscores the importance of preserving civil rights history using the most accurate and comprehensive sources available. For generations, the Black press has maintained some of the deepest and most reliable documentation of the civil rights movement, currents events, news and critical Black history, much of which remains underrepresented in modern digital media archives and inaccessible to artificial intelligence (AI) systems.
As a result, Civil Rights TV will rely heavily on national Black press for news, historical archives and independent voices. Prominent digital news platforms, podcasts, and broadcasters—will play an instrumental role in shaping continuous coverage, historical interpretation, and public discourse.
About Connect2OTT
Connect2OTT currently manages more than 250 live 24/7 television and radio channels streaming to audiences in more than 190 countries. Civil Rights TV joins this ecosystem as a flagship channel, designed to foster global conversation while demonstrating how media distribution, energy efficiency, and AI readiness can coexist responsibly.

About Larry Witherspoon
Larry Witherspoon is a technology entrepreneur and founder of Phoenix-based Connect2 Technologies, LLC, including Connect2OTT, Connect2AI, and Connect To Your City OTT Platform.
In 2006, Witherspoon launched FaithFone Wireless, the world’s first Christian-owned and operated mobile phone company—years ahead of today’s fintech and mobile banking platforms. As a mobile virtual network operator (MVNO), FaithFone introduced mobile banking, digital tithing, live television and radio, content downloads, and branded debit- card-based person-to-person payment functionality before mobile commerce was widely understood by major telecom and financial institutions.
That early convergence of mobile, media, and financial technology laid the foundation for Witherspoon’s current work across AI, energy efficiency, broadcasting, and infrastructure optimization.
Community Content Submissions
Civil Rights TV welcomes article submissions from trusted community voices, journalists, and verified organizations. Content may be submitted through an official upload portal or via email for editorial review.
Submissions approved for broadcast will be scheduled during the network’s community programming window from 12:00 a.m. to 5:00 a.m., with select pieces considered for prime- time airing based on their significance, accuracy, and value to the broader civil rights dialogue.
Media Contact Tina Michelle
Connect2OTT / Civil Rights TV Phone: (480) 740-7777
Email: [email protected] Website: CivilRightsTV.com
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