Sustainable investments are not a drag on performance, according to a new Morningstar report, and in many markets, it can even outperform. Sixteen of 20 equity indexes in Morningstar’s Global Sustainability Index Family have outperformed their non-ESG equivalent over their lifespan, says Dan Lefkovitz, Morningstar Indexes content strategist. These indexes have outperformed their equivalents in Asia and Europe, but underperformed in the U.S., Canada and emerging markets Americas. “Much of this is explained by high-flying stocks that were not found in the ESG index: Apple, Amazon, Facebook, Berkshire, and Philip Morris,” Lefkovitz writes. “Negative stock selection overwhelmed the positive contribution from the ESG index’s slight overweighting to consumer cyclical stocks and underweighting to energy.”
RMB Capital, an independent financial services firm with more than $8.4 billion in assets under management, announced a pending combination with Jacobus Wealth Management, a privately held registered investment advisor firm based in Milwaukee, Wis., on Thursday. The transaction will add approximately $860 million in assets under management. JWM’s Milwaukee location will become known as RMB Jacobus, in recognition of JWM’s more than 30-year presence in the community. “It’s a great fit from a philosophical and cultural perspective. We are excited to work together,” said Richard M. Burridge Jr., RMB founding partner, CEO and chief investment officer.’
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Americans are happier than ever about their finances, according to the American Institute of CPAs Personal Financial Satisfaction Index. The index measured 25.9, continuing an upward trend since the beginning of this year and surpassing all previous measurements since the index began 24 years ago, the Journal of Accountancy is reporting. The index weighs the impacts of positive influences on the average American versus negative factors. The rise in the index was driven by stock market gains, new job openings and growing real estate values, AICPA said.