Ethic, a sustainable investing platform that provides direct indexing, announced that it completed a $50 million Series C round.
The funding round was led by Jordan Park Group. UBS also participated through its innovation unit, UBS Next, along with Ethic’s existing investors Oak HC/FT, Nyca Partners, Sound Ventures, Urban Innovation Fund and Kapor Capital, according to a statement.
The company said it would use the new funding to expand into new markets and products, and to continue to invest in its platform experience. It noted that it saw record inflows during the first half of the year despite volatile markets. Ethic now oversees more than $2 billion in assets.
“Our personalized approach, which allows people to create portfolios that reflect their own unique definitions of sustainability, has helped facilitate our rapid growth with intermediaries and their clients,” Doug Scott, co-founder and CEO of Ethic, said in the statement.
Retiring RIA seller David Laidlaw alleges the Carnegie valued his stake on $11.7 million EBITA while pitching potential buyers on $21.3 million.
New tool gives RIAs and family offices AI help vetting private market deals, with some users reportedly halving review time.
Investors got projected returns dressed up as real ones, SEC says
Parents must still act to get the $1,000 federal seed and employer contributions, giving financial advisors a role in the rollout.
FINRA booted Rudy Anguiano from the industry for “conversion - the intentional and unauthorized taking of another person’s property.”
As AI makes financial information more accessible than ever, Lana Hock explains why human judgment, trust, and empathy remain the qualities clients value most in a financial advisor
Northern Trust’s Ken Lassner shows advisors how to convert volatility into after-tax portfolio gains
