Free ESG advice as firm sets $1b target
Financial advisory group deVere is to offer free socially responsible investing advice, as many still regard it as a ‘quirk’ despite its outperformance.
The initiative, which was part of the firm’s 2021 environmental, social and responsible campaign, would help clients to find investments in areas such as carbon reduction, board diversity and employee rights.
As a result, it hopes to invest $1 billion in environmental, social and governance (ESG) products over the next five years.
Chief executive, Nigel Green, said there were still clients out there who regarded ESG investment as a ‘quirk’ rather than a legitimate form of investment and he was hopeful these sessions would dispel that myth.
Only 26% of the firms’ clients globally were currently invested in an ESG product, as of June 2020.
“Whilst ESG highlights values, it’s also about profits, with environmentally and socially responsible funds continuing to out-perform the market and offer lower volatility,” Green said.
“We believe this is an especially important initiative right now as ESG moves ever more into the mainstream. However, there are still investors who regard such investments as a ‘quirk’ or ‘nice to have’ rather than a legitimate portfolio diversification tool that delivers profits with purpose.”
AUTHOR
Laura Dew
Recommended for you
New York-based firm CC Capital has bumped up its offer to stay ahead of rival bidder Bain Capital.
In a tight race against Morgans, AMP Financial Planning has won back its position as the largest individual licensee in Australia, according to Wealth Data.
Learning to delegate authority and relinquish a hands-on approach is a critical step towards building a self-sustaining financial advice practice, says Assured Support.
Private wealth management company Stellan Capital has appointed a new chief executive, who brings over three decades of experience in the global financial services industry.
