The surprising truth about the values-driven investor Sponsored by NYLInvestments
Sustainable funds—which consider environmental, social and governance factors alongside traditional financial metrics—attracted a recordoutperformed
“As we evaluate what are the true risks to economic growth looking forward, they’'re not necessarily the financial risks on which we tend to immediately focus,” he says. Despite the surging interest in sustainable investing, financial advisors are slow to keep up with the trend. Part of the problem is the myth that values-driven investors are primarily Millennials.
“People are absolutely voting with their dollars in terms of purchasing,” says Tarsney. “As that value-based purchasing grows, more and more people are going to start asking themselves why they aren’t looking at the same considerations when allocating investment dollars.”“Many investors simply believe it is a better way to evaluate a company in terms of accurately modeling the risks or opportunities that it faces from non-financial metrics,” he says.
Just as the profile of a sustainable investor includes all age groups, New York Life Investments data also found no dramatic income or gender difference in sustainable investing, with 56% of women and 44% of men likely to be motivated by sustainable values. Rather than demographics, it’s advisor recommendations that drive the most interest in sustainable investing. And FAs who bypass older generations when it comes to suggesting sustainability are missing a chance, Dixson says.
The trend reflects advisors’ misconception that only younger investors are interested in sustainable investing. However, once all the myths are dispelled, clients are more likely to move from consideration to adoption: New York Life Investments research shows a 63% conversion rate from awareness to investment when advisors take the time to actually talk about sustainable investing with their clients.
“New York Life Investments” is both a service mark, and the common trade name, of certain investment advisors affiliated with New York Life Insurance Company.
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