Net flows to long-term responsible funds quadrupled in 2019 to $20 billion, from $5 billion in 2018, and continued to grow during the first half of 2020 to reach $21 billion, according to a report by Broadridge Financial Solutions.
The report also found that 68% of environmental, social and governance assets in the U.S. are now in actively managed funds. Flows into ESG active equity funds during the 12 months ending in August reached 10% of average fund assets in the U.S.
According to a separate survey by Broadridge of more than 400 financial advisers, 81% of wirehouse advisers have assets in ESG products today, followed by those in the independent broker-dealer (68%) and registered investment advisory (60%) channels.
Twenty-four percent of financial advisers reported that they saw an increase in client interest in ESG as a result of the COVID-19 pandemic.
The move follows earlier dealmaking and leadership changes as the Overland Park-based hybrid RIA builds toward a nonprofit-focused institutional platform.
From building multigenerational relationships to entering new adult planning areas and building healthy financial habits, higher education can be a gateway for advisors to become trusted partners to families.
The wirehouse-focused aggregator's rollout to more than 100 advisors lands as financial advisors race to add tax and estate planning tools.
Also, Orion has added BlackRock, Fidelity, and Vanguard to its custom portfolios suite, and RedBlack has set up a new headquarters after crossing a trillion-dollar milestone.
Also, New York-based Legacy Edge Advisors names its first-ever CEO, while Novare Capital Management hires a Vanguard veteran with a multigenerational planning focus.
Northern Trust’s Ken Lassner shows advisors how to convert volatility into after-tax portfolio gains
Dan Biagini of American Equity says the steady decline of pensions, longer lifespans and a reset in interest rates are rewriting how advisors build retirement income
