Net Positive Consortium gains momentum with new members, first strategic partner

The Net Positive Consortium in Wealth Management, a collective of firms from across the wealth industry who want to affect change, has taken a meaningful step forward.

On Friday morning, NPC expanded its membership with five new firms and announced FP Transitions as its first strategic partner.

The new members of the collective, which launched in October last year, include:

• Bogart Wealth, which recent welcomed industry veteran Jeffrey Fuhrman as its new president;
• First Pacific Financial;
• Guiding Wealth, founded by Hannah Moore, who's also behind the industry-acclaimed Externship financial planner training program;
• Meira Wealth; and
• Uplifting Capital

According to the consortium, it was brought together with a mission to encourage positive impact across five pillars:

• Supporting inclusiveness and well-being in the workforce;
• Fostering community involvement and charitable impact;
• Emphasizing sustainability and environmental responsibility for the planet; 
• Advancing financial literacy, charitable giving, and values-based planning among clients; and
• Enriching the industry through mentorship, thought leadership, and collaboration.

New member firms are expected to demonstrate progress in at least three of the pillars and commit to ongoing improvements.

The NPC is advancing its mission during a challenging time for the ESG and sustainability movement, which is facing pressure on multiple fronts including state-level legal actions and a federal mandate against DEI that has influenced even prominent Wall Street firms to walk back or dilute their diversity commitments.

FP Transitions, a consulting firm with a focus on wealth managers and independent financial advisors, will work alongside the consortium's founding firms as a core advocate and contributor to its resources and best practices.

Scott Leak, director of business development at FP Transitions, said his firm's mission aligns closely with the initiative’s goals.

"We advocate for building teams that are diverse and inclusive; encourage the development of workforce mentorship and education; and push owners to continually improve what they offer their clients. All for the purpose of creating firm value and positive impact," Leak said in a statement Friday.

The consortium's growing base reflects rising interest among RIAs in integrating broader social and environmental goals into their business practices.

Suzanne Siracuse, industry consultant and Net Positive Consortium facilitator, said the new additions affirm the growing appeal of its platform.

"The commitment to making a net positive impact on clients, employees, communities, the environment, and the industry is proof that the momentum behind this movement continues to grow," she said.

The consortium's founding members comprise some well-known names in the RIA space, including Mariner, Modera Wealth Management, Wealthspire Advisors, Halbert Hargrove, Perigon Wealth, Crestwood Advisors, Focus, Brighton Jones and Wescott Financial Advisory Group.

Gerry Goldberg of Focus Partners Wealth, who serves as co-chair of the consortium, emphasized the importance of collective action.

"Together, we're building a better future for our profession and the people we serve," he said.

The Net Positive Consortium continues to encourage firms across the country to download its resources and consider joining the initiative.