Wealthy adults ages 44 and younger express a significantly higher level of interest in socially responsible investing than do older adults, according to Spectrem Group research. Fifty-seven percent of young Ultra High Net Worth investors, who have a net worth of $5 million up to $25 million, not including primary residence, identify social responsibility as an important investment selection criteria. The share falls by more than half among older UHNW investors.
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According to the US SIF Foundation, a membership group for professionals in the socially responsible sustainable investment industry, more than 11 percent of all assets under management in the U.S. are allocated to sustainable and socialy responsible investments. Assets in socially responsible and sustainable mutual funds have grown by 100 percent since 2010 to $641 billion.
The majority (52 percent) of younger UHNW identify "using my wealth to help others" as an important personal financial concern, according to our research. The same is true for a little more than one-fourth of investors ages 55 and older.
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