Millennials are twice as likely as boomers to be interested in investments dedicated to solving social or environmental problems, finds a survey by the Responsible Investment Association (RIA). The study also shows that millennials are almost twice as likely as boomers to believe that companies with good social and environmental practices are better long-term investments.
Also, 67% of millennials, and 62% of women believe it’s important for their advisors to be knowledgeable about environmental, social and governance issues and responsible investment options.
“The data highlight a strategic opportunity for advisors to add even more value by educating themselves and their clients about responsible investing,” says Fred Pinto, senior VP and head of wealth and Asset Management with Qtrade Financial Group. “Advisors who are knowledgeable about responsible investment products are better positioned to attract millennials’ assets today and in the future.”
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