Planning for a better world: green financial advisors help point the way.
While financial advisors have been around about as long as money itself, a new breed of so-called "green" practitioners is focusing on helping clients grow their personal nest eggs Nest Egg
A special sum of money saved or invested for one specific future purpose.
Examples of the purposes for which nest eggs are usually intended include retirement, education, and even entertainment (vacations and cruises). while contributing to the achievement of larger social and environmental goals. By integrating clients' savings, investment, philanthropic and tax strategies with socially responsible values, these green financial advisors are helping to leverage hundreds of millions of dollars for worthy causes every year in the U.S. and beyond.
Green Money Man
Eric Smith Notable people named Eric Smith have included:
A person who has passed examinations accredited by the Certified Financial Planner Board of Standards, showing that the person is able to manage a client's banking, estate, insurance, investment, and tax affairs. specializing in "green" money management, began dabbling in socially responsible investing Socially responsible investing describes an investment strategy which combines the intentions to maximize both financial return and social good. In general, socially responsible investors favor corporate practices which are environmentally responsible, support workplace diversity, (SRI) with his own Bar Mitzvah Bar Mitzvah (bärmĭts`və) [Aramaic,=son of the Commandment], Jewish ceremony in which the young male is initiated into the religious community, according to tradition at the age of 13 years and a day. money more than two decades ago--and never looked back. While today he focuses on helping institutional investors Institutional Investor
A non-bank person or organization that trades securities in large enough share quantities or dollar amounts that they qualify for preferential treatment and lower commissions. and high net worth individuals put their money where their socially responsible mouths are, he cut his teeth on advising Average Joes on financial strategies that would help them build financial momentum while improving their communities and environment.
According to according to
1. As stated or indicated by; on the authority of: according to historians.
2. In keeping with: according to instructions.
3. Smith, the first step in finding an appropriate advisor is to comb through any one of several excellent directories listing "green" financial service providers. The Social Investment Forum, the Financial Planning Financial planning
Evaluating the investing and financing options available to a firm. Planning includes attempting to make optimal decisions, projecting the consequences of these decisions for the firm in the form of a financial plan, and then comparing future performance against Association, SRI World Group and Calvert Funds all offer flee listings of advisors specializing in values-based financial planning. Smith recommends checking the names of those advisors who make the first cut against lists of bad actors updated continuously by the Certified Financial Planner Board of Standards.
The next step would be to interview the finalists. Smith suggests trying to speak with candidates at their offices to get a feel not only for their professionalism, but also their commitment to the important values. "Initial discussion with your financial planner Financial Planner
A qualified investment professional who assists individuals and corporations meet their long-term financial objectives by analyzing the client's status and setting a program to achieve these goals. might include conversation about their scope of services, fees and licenses," Smith says. "You might also want to know about the firm they are affiliated with and professional networks that they are part of." Smith adds that the best advisors listen carefully to their clients' needs before suggesting any given course of action.
When George Gay George Gay may refer to:
"I believe my choices have consequences, and I want to make responsible decisions with my money," says Gay. "That's how a lot of people feel." He adds that the SRI bandwagon band·wag·on
1. An elaborately decorated wagon used to transport musicians in a parade.
2. Informal A cause or party that attracts increasing numbers of adherents: doesn't seem to be slowing down due to its increased load, though, with many values-based investment products like screened mutual funds growing faster than their traditional counterparts since the mid-1990s.
Investing With Your Values
Meanwhile, the financial advisors over at Natural Investment Services, a FAFN-affiliate, literally wrote the book on values-based investing. Indeed, the firm's founding partners authored the influential 1999 book Investing with Your Values: Making Money and Making a Difference. Individuals looking for Looking for
In the context of general equities, this describing a buy interest in which a dealer is asked to offer stock, often involving a capital commitment. Antithesis of in touch with. help planning their financial future can tap into this motherlode of knowledge by signing on as a client.
"While it is important to support companies that make money while making a difference--and trying to hold those that don't accountable for their actions and policies--we also take satisfaction in helping people save for their future while having integrity along the way," says Michael Kramer, a Hawaii-based advisor for the firm. "Investors like knowing they can sleep well at night while their life savings is a force for positive change around the world."
Unlike many asset managers and financial advisors who require clients to have a minimum of $1 million to start working together, Natural Investment does not discriminate along economic lines, welcoming the rich and not-so-rich alike. "We are a boutique firm, meaning we provide personal service to a small number of clients and can provide a client of any portfolio size equal time and energy depending on their needs," says Kramer, adding that the firm's model portfolios apply to all investors regardless of assets.
The SRI universe is expanding rapidly, with some analysts reporting 40 percent annual growth in capital invested according to values-based criteria in recent years. And with returns as good or better than traditional investments, the environmentally conscious would be well-served consulting with experts like Smith, Gay or Kramer even if they lack thorough knowledge of the financial markets. CONTACT: Calvert Group, www.calvertgroup.com; Certified Financial Planner Board of Standards, www.cfp-board.org; First Affirmative Financial Network, www.firstaffirmative. com; Natural Investment Services, www. naturalinvesting.com; SRI World Group, www.sri-advisor.com.
RODDY SCHEER plans his investments carefully.