Financial Advisors

DUE DILIGENCE

BrokerCheck. This website helps you perform a bit if due diligence on a financial advisor you are considering. It is managed by FINRA, a self-regulating corporation that monitors member financial advisory and brokerage firms. When you enter the name of a financial advisor or firm, you can determine what type of advisor they are and you can access their SEC filing papers, brochures, and other information.

IMPACT REPORT EXAMPLE

Veris Wealth Partners Impact Report. Some values-aligned financial advisors provide impact reports. Veris Wealth Partners is an example of such a firm. This company is a majority-women run Investment Advisory Firm that has been practicing sustainable and values-aligned investing since its inception more than a decade ago. The company provides publicly-available impact reports, research into gender lens investing, and other helpful information for investors who care about more than the bottom line.

Values-Aligned Robo-Advisors

Betterment vs. E*TRADE vs. Robinhood. The term “Robo-Advisor” can be used rather loosely, making it hard to understand what a specific investment platform offers. This short post by Investor Junkie explains, in simple terms, the difference between robo-advisors and investment brokers.

6 Best Robo-Advisors for Socially Responsible Investing. In this article, Alexandra DeLuise gives her perspective on what makes Wealthsimple, Betterment, and EarthFolio some of the best values-aligned robo-advisors. A search for “best socially responsible robo-advisors” will provide other opinions.

EarthFolio. EarthFolio is a robo-advisor that has made sustainable investing part of its business model from the beginning. The company offers funds, asset allocation, and ongoing portfolio monitoring.

Ellevest. Ellevest provides robo-advisory services, but is also a financial company built by women for women. The site offers educational materials as well as sustainable investment options. Several levels of membership are available, some of which include individual advisory services.

Newday Impact. With this robo-advisor, investors have a choice among many impact themes, including climate action, sustainable agriculture, animal welfare, and fresh water. It also provides the option to invest in specialized portfolios from HIP Investor and Nia Global Solutions, both discussed in Activate Your Money.

OpenInvest. When making their portfolio decisions, investors can choose from more than 15 impact themes. The site also makes it easy to vote proxies via phone. It also facilitates investment in portfolios from HIP Investor.

Helping Your Advisor – and Yourself – Become More Values Aligned

The educational opportunities and membership organizations listed here provide opportunities for both advisors and individual investors to educate themselves on values-aligned investing.

COURSEWORK

Center for Sustainable Investment Education. The Center for Sustainable Investment Education is an education and certification division within US|SIF, a recognized values-aligned thought leader. The site provides online training and research materials related to sustainable investing.

PRI Academy. This online educational organization educates financial service professionals about ESG issues and how they impact company performance, shareholder values, and investment decision-making. The course materials help advisors incorporate ESG and other values-aligned impact lenses into their practice.

Sustainable Investing Initiative. Developed by Morningstar and the Money Management institute, the Sustainable Investing Initiative offers online courses, workshops, forums, and other resources for advisors who want to learn more about values-aligned investing.

MEMBERSHIP ORGANIZATIONS

Confluence Philanthropy. Confluence Philanthropy is a membership organization whose mission is to transform the practice of investing by aligning capital with values of sustainability, equity, and justice. The organization hosts webinars, trainings, and working groups as well as an annual conference.

Global Impact Investing Network (GIIN). The GIIN is an international membership network that provides research, workshops, and an annual conference. The organization also manages IRIS, a comprehensive suite of tools for measuring impact. Many of the GIIN’s resources are freely available to all.

Social Venture Circle. The Social Venture Circle is a membership organization bringing together social entrepreneurs, investors, capacity builders, and policy makers who are using their businesses, financial assets, and other resources to support social purpose ventures. Individuals who are members tend to be accredited investors.

Toniic. Toniic is a peer-learning and membership organization targeting individuals who wish to put their assets to work in support of their personal values and to build a better world. Members tend to be high-net worth.

CREDENTIALS

Fundamentals of Sustainable Account (FSA) Credential. Launched in 2015, the FSA Credential is an exam administered by the Sustainability Accounting Standards Board. Those who pass the exam have acquired a baseline understanding of the principles of sustainable investing and are listed on SASB’s website. Normally intended for professionals, individuals could talk this course as a way to learn more, if they so desired.

Chartered SRI Counselor (CSRIC) Credential. Established in 2018, the CSRIC is a more robust credential for advisors. Developed by the College for Financial Planning in partnership with US|SIF, the coursework teaches history, definitions, trends, principles, fiduciary responsibilities, and best practices for sustainable investments.

ADDITIONAL RESOURCES

Change Catalyst Resource Guide. This great list on Change Catalyst, pulled together by the organization’s founder & CEO, Melinda Epler, provides an expansive list of case studies, books, reports, and other resources for financial advisors and individuals who want to know more about values-aligned investing.

Impact Investing Learning Hub. Based in the UK, the Learning Hub is designed to help both individuals and finance professionals learn more about impact investing.

Finding Values-Aligned Advisors

The type of advisor that is right for you will depend on the types of services you are seeking, as well as the size of assets you would like them to manage on your behalf. For those who are seeking more personalized attention than a robo-advisor can provide, the following list suggests some additional resources you can use in your search.

ADVISOR MATCH

Smart Asset Quiz. Smart Asset provides a simple quiz that includes questions about the assets you have available to invest, your values-alignment goals, and your zip code. You will be sent a list of three matches when you provide an email address. Note that it is not clear how values-aligned the recommendations will be.

Values-Advisor Matching Tool. Values Advisor offers a curated list of values-aligned financial advisors who have been recommended by their peers from a range of impact and philanthropic affinity groups. Advisors on the list also meet key values-aligned investing criteria. ValuesAdvisor let you filter your search by geography, impact level, services, firm size, and asset class.

HOURLY-BASED SERVICES

Financial advisors that offer services on an hourly or project-only basis can be difficult to find, as can advisors who accept clients with $50,000 or less to invest. These two resources can help you find those types of advisors. However, it is assumed that the majority of their recommended advisors do not adhere to a values-aligned approach to investing. You could work with one of these advisors on planning. If they are not willing or able to help you make values-aligned investment decisions, you could seek additional support – or go it alone – once you have completed the planning stages of the investment process.

Garrett Planning Network. The Garrett Planning network includes hundreds of hourly-based, fee-only financial planners. You will be offered matches based on the entry of your zip code.

Paladin Registry. This site requires you to provide your name, email address, other information before delivering advisor recommendations. However, they do indicate that they can provide advisors to individuals with $50,000 or less to invest.

FINANCIAL ADVISOR DIRECTORIES

You can use the following directories to identify values-aligned financial advisors and firms. We also provide links to bios of all the financial advisors who contributed to Activate Your Money. If a potential advisor appeals to you, find out more about them using the resources mentioned in this chapter.

Activate Your Money Contributors

These women are financial advisors and contributors to Activate Your Money. Although they are listed here to help you in your search for a values-aligned financial advisor, their inclusion is neither an endorsement or recommendation. As always, please do your own research and due diligence.

Akasha Absher, Principal and President, Syntrinsic

Alison Smith, Managing Director, Cornerstone Capital

Eileen Freiburger, CFP®, Partner, Abacus Wealth Partners

Emily Green, Director of Private Wealth Management, Ellevest

Erika Karp, Chief Impact Officer, Pathstone

Ivka Kalus, Founder, Chief Investment Officer, and Managing Partner, Promethos Capital

Jennifer Leonard, Chief Investment Officer, Syntrinsic

Kate Barron-Alicante, MsC, CRP®, Director of Impact & Financial Advisor, Abacus Wealth Partners

Katie Bamberger, Client Service Associate, Veris Wealth Partners

Kimberly Griego Kiel, AIF®, President, Horizons Sustainable Financial Services

Kristin Hull, Founder, CEO, and CIO, Nia Impact Capital

Lauren Sercu, CFA, Managing Director, Sepio Capital

Lisa Leff Cooper, CFA, CFP®, President & Founder, Figure w8 Investment ,

Lisa St. Claire, CFP®, Financial Consulting and Coaching

Natalie Holm, CFA, Client Advisor, Caprock Group

Patricia Farrar-Rivas, Partner Group Chair, Founding Partner, Veris Wealth Partners

Phuong Luong, CFP®, Investment Strategist, Adasina Social Capital

Rachel Robasciotti, Founder & CEO, Adasina Social Capital

Sonia Kowal, President, Zevin Asset Management

Stacie Rasmussen, Financial Advisor, Abacus Wealth Partners

Sylvia Kwan, CFA, CAIA, Chief Investment Officer, Ellevest

Tamara Larsen, Executive Director, Head of Mission Aligned Investing, Agility

Teresa Wells, CFA, Principal & Managing Director, Tiedemann Advisors

B-Corp Directory. A search for “Investment Advisors” and “United States” on this site will return about 70 financial-advisory firms that are established B-Corporations, meaning these firms meet a set of social, environment, and governance criteria in their business practices. Several of the contributors to Activate Your Money are among them.

Green America National Green Pages. Green America provides a short list of values-aligned financial providers, some of which are fee-based.

US|SIF Directory. The US|SIF Directory allows a search among the organization’s membership for Financial Planners, Advisors, and Brokers as well as Investment Consulting or Management Firms.