Everyone loves to see their money grow. For a long time, people didn’t have a lot of transparency about the stocks included in some of their investments. By the 1990s, people were asking for socially-conscious investment options for their retirement savings. They weren’t comfortable profiting from things like tobacco stocks. That was the beginning of a trend that has continued to grow.
Today, a lot of people build their lives around a cause. There are plenty of companies that lead with a social mission, too. This gives the founders purpose and helps them connect with like-minded consumers. These kinds of companies can be found in all economic sectors. That includes financial platforms. There’s even a new business structure available for them. Known as a public benefit corporation, these companies are designed to benefit their communities in addition to their stockholders.
One example is Ellevest, a company run by women. Ellevest is designed with women’s particular needs in mind. Ellevest takes issues like women’s longer average lifespan and pay gaps into account when helping women save for retirement. Anyone can use Ellevest, but it’s designed with women’s unique situations.
OpenInvest is an investment platform built with a focus on transparency and social responsibility. People who use OpenInvest are able to choose the issues that matter the most to them. Then, OpenInvest tailors their investments based on those designations. Examples of socially-conscious portfolios that are available is social justice and climate change.
SVX is a socially responsible firm based in Canada. They carefully vet companies before showcasing them on their platform. SVX is tailored for venture-stage companies. That means they work with companies that haven’t gone public yet. These kinds of investments are always riskier than purchasing a standard stock or bond. Ideally, investors in SVX will be excited about the cause and aware that they may not see a profit for a long time, if at all.
Finally, Wunder makes it easy for people to invest in solar technology. Wunder is actively involved in every phase of the solar projects appearing on its platform. They have a role in everything from contracts and underwriting to the actual construction. Wunder was founded in 2013 and has a great reputation. It’s even won awards.