News.
LGBTQ Loyalty Holdings Executes Platform Service Agreement with ProcureAM
8:00 AM ET 7/29/19 | Dow Jones
WEST HOLLYWOOD, CA / ACCESSWIRE / July 29, 2019 / LGBTQ Loyalty Holdings, Inc. (OTC PINK: LFAP) ("LGBTQ Loyalty" or "the Company"), delivering progressive financial indices and marketing platforms for the LGBTQ community and their supporters, has entered into a platform service agreement (PSA) with ProcureAM, a wholly owned subsidiary of Procure Holdings, LLC. The agreement grants the use of the LGBTQ Loyalty methodology for the creation of the first-ever LGBTQ Loyalty 100 Preference Index. By licensing the index methodology that incorporates LGBTQ constituent preferences with the performance of the nation's top equality-driven large-cap companies, the preference index is anticipated to deliver a significant equality benchmark in economic and social impact investing.
"Two years of related index development activity and our new index technology aided in the structuring of the LGBTQ Loyalty 100 Preference Index methodology. Today our resources and innovation have culminated at the right time for us to sponsor and license this groundbreaking index to the investment management industry," said Bobby Blair, CEO of LGBTQ Loyalty Holdings, Inc.
Demographic research has long demonstrated the unparalleled economic value of LGBTQ brand loyalty to corporations. By addressing the demand for more authentic LGBTQ constituent feedback, combined with the financial performance of equality-driven corporations, the sponsorship and PSA executed with ProcureAM furthers the LGBTQ Loyalty brand and creates a pathway to implement the preference index in the investment marketplace.
"Considering the unique synergies presented by our combined capabilities and investment outlook, this agreement with LGBTQ Loyalty is attractive as it addresses the appetite we have heard in the marketplace for inclusive index offerings," said Robert Tull, President of Procure Holdings, LLC.
American LGBTQ consumer spending represented $917 billion in purchasing power in 2017. As such, S&P 500 companies have taken notice and have expressed their desire for alignment with this expanding demographic to enhance diversity and inclusion policies. With the preference index methodology in process, LGBTQ Loyalty is expected to announce a series of index milestones throughout the third and fourth quarter of 2019.
