Financial planners could play a critical part in boosting cash flow into "social investments" which have a positive effect on society, a report has found.
Financial planners as catalysts for social investment, shows that in their role as ‘gatekeepers' to the financial affairs of wealthy people, financial planners have the opportunity to keep clients informed of such investment products.
The report, written by CEO of the Fairbanking Foundation Antony Elliott, founder and director of Worthstone Gavin Francis and Geoff Knott, a UK social investment practitioner with international experience, recommended further action which product providers, the Financial Services Authority and government should take to help the market develop.
It said funds would come from high net worth clients, and client demand would “ultimately drive financial planners to become involved in social investment”.
Nick Cann, chief executive at IFP (pictured) said: "This work to develop an effective market for social investments is welcomed by IFP. Not only would a successful outcome provide greater investment choice for consumers but it would also create opportunities for broader gains by society as a whole."
Francis added: “At this time of significant change in the advice arena, social investment offers a rare and important new opportunity to the financial planning community. The report acts as a vital roadmap for all those interested in optimising the unique 'win-win' that social investment can deliver for individuals and the society within which we all live.”
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