“You have to remember this has been a very quick evolution. This has only been going on for four months,” Wilkins said. “It is early to be extrapolating long-term trends.”

Park added that planning at UBS already has taken a dramatic shift to being more dynamic and more transparent.

“Clients want to be updated more often and they want to know they have planned for the ‘what ifs,’” she said. In addition, more baby boomers are seeing ESG investing as an opportunity for returns.

“Evaluating a company by ESG standards is merely a way to take a step back and look at a company’s good governance. It is a way of derisking the portfolio,” Wilkins said.


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