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.”
Recommended for you
Following an extraordinary general meeting today, Dixon Advisory parent company E&P Financial Group’s shareholders have voted on its proposed delisting from the ASX.
While overall financial adviser numbers have dipped below 15,500 this week, Rhombus Advisory is experiencing growth and approaching 500 advisers in its ranks.
Iress’ Xplan continues to dominate the financial planning software market with a multitude of uses, according to Netwealth research, despite newer players battling for a piece of the pie.
ASIC has shared the percentage of breach reports related to financial advice in FY24, noting increased reporting by smaller AFSLs.