NextBillion - An Initiative of the William Davidson Institute at the University of Michigan

Tuesday, August 20, 2019

By Ginger Szala

Impact investing has attracted trillions of dollars, which indicates it is here to stay, states an Allianz Life Insurance Co. survey of 1000 people over age 18. Although millennials get most the credit for this push, with 66% stating they are interested in putting money in environmental, social and governance investments, almost half of Gen Xers and baby boomers state the same.

A missing component, however, is the financial advisor to educate them on these products. The study found only 30% of Americans who are working with financial professionals say they have discussed ESG investing with them. Furthermore, 69% of the time the client initiated the conversation. This was the finding despite 75% of those who work with advisors having a positive perception of ESG investing, stated Allianz.

Photo courtesy of Steven Depolo.