Affluent investors look at a multitude of influences when selecting investments, but social responsibility is not high among them, according to a study by Spectrem Group.
Only approximately thirty percent of households with a net worth between US$1 million and US$5 million feel that social responsibility should be a primary investment factor. It has even less importance for wealthier investors with a net worth between US$5 million and US$25 million, with only a quarter of them feeling this way.
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Socially responsible investing is a more important factor among non-Millionaires with a net worth of a least US$100,000. Almost forty percent (38%), look at social responsibility when choosing an investment.
Another similarity between these investors is their age, they tend to be younger. The largest percentage of non-Millionaire respondents who consider social responsibility to be a primary investment factor are under the age of 45, at just less than fifty percent.
Among Millionaires, the largest percentage of investors looking at socially responsible investing (35%) are between the ages of 53-59. With high net worth investors, the largest percentage of investors who look at social responsibility when selecting an investment (34%) are ages 55-64.
The main reason investors do not look at socially responsible investing is that they haven’t given it much thought. Above a third of Affluent investors feel this way, and is a feeling felt by 44% of high net worth investors, 38% of Millionaires and 36 percent of non-Millionaires.
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By GlobalDataWhen looking at investments, Affluent investors are just not that concerned with social responsibility. Almost seventy percent said that a company’s support of charitable causes does not influence or impact whether they choose to invest in that company. More than ninety percent of investors said they do not buy products from a company because of their support for a charitable cause.
