The Origins of "Gay Money, Straight Advice."
This summer, Christopher Street had a booth at Out Montclair's Pride Event. We gave away candy, conversation, and stickers...stickers that said "Gay Money, Straight Advice."
We've had those words on stickers, in gala programs, and even on the back of a t-shirt. They often elicit a chuckle. A smirk. Some type of response that says "Clever!" and, well, we think it is too, if we do say so ourselves. But "we", the current employees of CSF, can't take credit for it, for those words have been used together for over forty years - since at least 1984 - when they appeared in an early ad campaign for Christopher Street Financial, as shown here:
(Side note: Earlier versions used the word "lover" instead of "partner".)
This ad appeared in a New York Times supplement on November 18th, 1984. Prior to this ad, CSF only advertised in gay media. With this ad in the Times, Casaletto hoped to reach a larger audience, as reflected here in this article about the ad that appeared a week prior in the advertising section of the Times on November 12th.
Philip H. Dougherty, of the Times, wrote:
“Christopher Street Financial…named for a Greenwich Village area popular with the city’s homosexuals, was founded three years ago as a financial services company for that segment of the population. Until now, according to Robert Casaletto, its president, it has advertised only in The [New York] Native and The Advocate, publications intended for homosexuals, and in programs for cultural events intended for homosexual audiences.
On Nov. 18th in a special New York Times Sunday supplement called Personal Investing in 1985, the company will invest $4,375 in its first ad in a general audience publication. Mr. Casaletto is convinced the ad is worthwhile because he said, there are many affluent homosexuals who do not read homosexual media. He also is considering running ads in The New Yorker and New York magazines and The Wall Street Journal.”1
Reporting on said article, Gay Life, wrote:
“The article, true to the Times tradition that irritates so many gay activists, used the word “gay” only once – in direct quote from the ad – and used the word “homosexuals” eight times in the six paragraph story…”2
For context, the New York Times opted for the word “homosexual” over “gay” until 1987.3
Dougherty did go on to ask about CSF’s gay niche:
“Why is it necessary? Isn’t money sexless?
No, Mr. Casaletto replied. Financial needs are closely tied to lifestyle and homosexuals need sympathetic advisers they can deal with and not be embarrassed, he said”1
While we do remain very dedicated to our origins, we are not just for the LGBTQ+ community. What Casaletto notes about wanting someone with whom to identify still holds true: we want to provide a space where you feel comfortable talking to your advisor, whether you identify as LGBTQ+, an ally, or someone who shares our values.
I’m not sure the ad ever made its way to The New Yorker, New York Magazine, or the Wall Street Journal as Cassaletto considered, but over time, we have reached a larger audience. We have grown. And, we continue to grow.
If you are curious about our “straight advice” and how we can help you with your financial planning and investment management needs, please click this link to schedule an introductory call.
1Dougherty, Philip H. “Company to Broaden Homosexual Campaign.” The New York Times. November 12, 1984, sec. Business Day.
2 “New York Times to Run Gay Ad.” Gay Life. November 15, 1984.
3Peters, Jeremy W. ‘The Decline and Fall of the ‘H’ Word.” The New York Times. March 21, 2014, sec. Fashion.