A coalition of registered investment advisors and wealth management firms have launched a social impact initiative—looking into the ways they can help clients and communities go beyond financial performance.

It’s called the Net Positive Consortium in Wealth Management, and it “seeks to be a platform for collaborative impact, where members exchange best practices, share experiences, and inspire others within the wealth management ecosystem,” according to a news release issued today by the group.

The founding member firms, the release noted, “have demonstrated leadership through their own impactful programs and are now joining forces to drive a wider movement that amplifies their positive contributions.”

Among the group’s founding members are RIA firms Andrew Hill Investment Advisors, Brighton Jones, Cornerstone Wealth Group, Crestwood Advisors, GYL Financial Synergies, Halbert Hargrove, Mariner Wealth Advisors, Modera Wealth Management, Perigon Wealth Management, Sentinel Group, Wescott Financial Advisory Group and Wealthspire Advisors. Other firms are involved include tech platforms like Andes Risk and Bento Engine and strategic consulting firm AdvoKate IQ.

Gerry Goldberg, the CEO of GYL Financial Synergies, is co-chair of the new consortium. In a statement, he noted that firms engaging with the group will fall into one of two categories. “Many have already developed a strategy and are actively engaged in giving back to their respective communities. Others are early on in their journeys and are seeking guidance and insight to assist in converting intentions to reality,” he said.

Grant Rawdin, CEO of Wescott Financial Advisory Group and co-chair of the consortium, said the group “represents a watershed moment for our industry. It’s not just about individual firm efforts; it’s about leveraging collective strength to create a framework for sustainable, positive impact across the entire profession.”

The group has identified five core pillars designed to “help firms align their initiatives with a greater purpose.” They are:

  • Fostering holistic well-being, inclusion and career development for employees;
  • Supporting local causes, charitable giving and community involvement;
  • Driving environmental stewardship and sustainability;
  • Promoting financial literacy, impact investing and philanthropy; and
  • Giving back to the profession through mentoring, knowledge sharing and leadership.

“The biggest hurdle to taking action is often knowing where to start. That’s why we developed a framework centered on these five pillars,” said Suzanne Siracuse, wealth management industry consultant and facilitator for the consortium. “They assist firms on this journey and serve as a road map for any firm seeking to make a net positive impact.”

The consortium will also offer webinars, thought leadership content, and video resources, the release said, noting that “these resources are designed to foster long-term growth and ensure that firms continue to elevate their impact year over year.”

Additional resources include an inventory assessment to help firms document their efforts and identify growth areas. And the founding members have published “Unlocking Our True Potential: Actionable Ways For The Wealth Management Industry To Support The Net Positive Movement,” an executive brief that provides guidance and inspiration.

“At Mariner, our purpose is to positively impact the lives of many, including our associates, our clients and the communities we serve. As a founding member of the Net Positive Consortium, we feel confident that our involvement furthers our purpose, as well as allowing us to serve as a good steward of the wealth management industry’s commitment to giving back,” said Kevin Corbett, managing director at Mariner Wealth Advisors.

For more information or to learn how to join, visit www.netpositivewealth.com or contact Suzanne Siracuse at [email protected].