Kenzie: We’re trying to embed the DNA of impact investment firms within the DNA of large asset management firms. We want to integrate the heart of impact outcomes. Several of our board members have 100% of their own assets in impact strategies and are very vocal members of this community.
Paul: Beth, what’s it like for you in this part of your career to bring so much passion to the work?
Beth: It’s terrific! I’ve been fortunate in my work to help scale investment services to move more mainstream.
Paul: How do you see millennial professionals like Kenzie shaping our industry’s future?
Beth: I think the millennial generation will demand that impact investing become the mainstream. We are being led by millennials to hold companies accountable for delivering sustainable products and services. Over time the companies doing that will be successful and others won’t. Millennials are three times more likely to seek employment with companies that promote sustainable business practices.
Paul: Kenzie, what do you say to young professionals seeking careers in impact investing?
Kenzie: Lead with your intentions and don’t be intimidated by naysayers. Keep your standards high and educate yourself and your clients.
Beth: Much of the interest in impact investing at large wealth management firms is being driven from the top down, with slower implementation at the advisor level. At more independent firms, the drive to impact investing is client led through the relationship managers with more resistance from investment committees.
Paul: So hurdles to investment implementation can be firm specific?
Kenzie: Yes, and the key to mainstreaming impact investing is advisor education driven by millennial investor demand. Millennials basic distrust of the financial services industry means we prefer to work with advisors who use a sustainable and impact approach to investment strategies.