Niche planners hit the mark

insurance/financial-planning-groups/

30 September 1999
| By Anonymous (not verified) |

Whether chasing the pink dollar, green dollar or grey dollar, niche financial planning is booming.

Whether chasing the pink dollar, green dollar or grey dollar, niche financial planning is booming.

In the past month alone, two new financial planning groups have been launched with the express aim of targeting specific niche markets.

In what is believed to be a first in financial services, Mark Grady has offi-cially launched Sydney-based planning group Gay Finanz Management, which is tar-geting the gay, lesbian, transgender and bisexual community.

The group, which offers the full range of planning services, recently launched at Sydney's Gay & Lesbian Expo. In the weeks following the Expo, it has already attracted $5 million of clients' funds.

Gay Finanz Management already has seven staff on board and is in the process of recruiting more.

The venture is not Grady's first foray into targeting niche markets. His other planning venture, The Finmark Group, is actively targeting both the immigrant and deaf communities.

Gay Finanz Management hopes to strike a deal to distribute G & L Insurance Bro-kers' products to its clients and will embark upon a marketing campaign target-ing the gay media and next February's Gay and Lesbian Mardi Gras. It is also hoping to establish a gay superannuation fund, possibly a master trust.

As part of its effort to appeal to the market, the group will donate 15 per cent of all fees and commissions to the charity of its clients' choice.

"We're not there to make a buck out of the gay market, but to be seen as putting back in," Grady says.

On the other end of the spectrum is the Glebe Group. A subsidiary of the Angli-can Church Diocese of Sydney, it has announced the roll out of its own financial planning division to operate under the Glebe Asset Management banner.

The new planning division will concentrate on ethical investments, reflecting the Christian parentage of the company. Principal consultant Steven Poucher pre-dicts huge growth in ethical investing over the next few years.

The planning division has been launched from the ground and so far staff levels number five, however the group plans to expand to five planners in the next 18 months.

Target markets page 22

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

So we are now underwriting criminal scams?...

5 months 1 week ago

Glad to see the back of you Steve. You made financial more expensive, not more affordable as you claim, and presided ...

5 months 1 week ago

Completely agree Peter. The definition of 'significant change is circumstances relevant to the scope of the advice' is s...

7 months 2 weeks ago

The RBA has handed down its much-anticipated rate decision, following widespread expectations of a close call....

3 days 7 hours ago

The FSCP has issued a written direction to an adviser who charged clients “extraordinary fees” for inappropriate and conflicted advice, as well as encouraged them to swit...

2 weeks 4 days ago

ASIC has cancelled the AFSL of an advice firm associated with Shield and First Guardian collapses, and permanently banned its responsible manager. ...

4 weeks ago

TOP PERFORMING FUNDS

ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
2
DomaCom DFS Mortgage
95.46 3 y p.a(%)
5