Millenials are credited for being behind the steady increase in socially responsible investing but a recent study shows other generations also find it to be of importance.
Millennials are known for their dedication to social issues while other generations, like baby boomers, were reputed to be more selfish hence the term the “me” generation.
One might assume a baby boomer wouldn’t be concerned with or interested in socially responsible investing or the ESG factors of a particular company but this new study proves that wrong.
According to the study both Gen Xers and baby boomers are showing increasing interest.
64% of millennials, 54% of Gen Xers and 42% of baby boomers said ESG factors are important in their investment decisions.
The study covered areas of focus, impacts on decision making, information sources and more. Key takeaways for financial professionals? Only 30% of those interviewed reported discussing socially responsible investments and ESG factors with their financial advisor. Read more about the research on Yahoo! Finance.