Each generation brings its own demographic weight to bear, reshaping markets along the way. Take baby boomers, for example, who have been changing what retirement looks like and how wealth management firms serve their needs. Now their millennial children are making their first mark on the investment world as they increasingly seek to align their investments with their values.
Of course, using money to do social good is not new. A century ago, Andrew Carnegie spoke of a gospel of wealth and spent lavishly on philanthropic enterprises, building thousands of libraries, for instance. But todays youngest investors want to go a step further, and are expressing a stronger interest than their parents and grandparents in using investments as a tool to do so.
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