Socially Responsible Investing
From this months RR mag, my interest was piqued by the SRI article. Do any of you FA's have clients that pursue Socially Responsible Investing? If not have you considered targeting this niche? I can imagine for people in the Bay area of CA this would be a very good market, or California in general.
Just trying to start a conversation from the usual "where should I apply" Or "is this the best move for me" lol
Here's a link to the article if you haven't read it:
Go one further, ever dealt with a Biblically Responsible Investor? That is a blast.
From this months RR mag, my interest was piqued by the SRI article. Do
any of you FA's have clients that pursue Socially Responsible
Investing? If not have you considered targeting this niche? I can
imagine for people in the Bay area of CA this would be a very good
market, or California in general.
NO. While trying to be sensitive to the person's prejudices, I point out that investing in any niche or narrow focus is not likely to be a good strategy over time. If they insist, I also mark unsolicited and have them sign a form that says that they decided to invest this way over my advice, put in their file and document on my contact management system.
People in the SF Bay area are loony toons and would probably be a good target market for this. They are also the biggest whiny unrealistic babies in the world and would cause you no end of trouble when they lost money.
While I'm totally agitated with the whole green thing, I do make it a point to ask prospects "is there anything you don't want to invest in?"
I've opened up sizable 529 accounts with American Funds Washington Mutual mainly because it excludes alcohol and tobacco companies, something many would rather not have funding little Johnnies college fund.
SR funds are a good door opener to non-profits and hospital pension funds and administrators.
BTW, I buy the fluorescent bulbs because I got sick of changing freakin light bulbs every month, not to save the planet.
I don't care for SRI and won't look at it unless asked about it. I have had some clients who would not invest with me unless they were in funds that were Biblically Responsible also. I don't currently have any on the books, but there's a fund family called the Timothy Funds. They have quite a few asset classes covered. Performance has been mediocre, so I don't care for them, bu t they're there if necessary.
i live in a college dominated town, where the "self perceived intellectually elite" believe in this sort of thing. i have used curian capital for this type of investor and they have been very good. it is not something near and dear to my heart, but i have no problem helping those who find it important. not sure whether curian is approved by your b/d.