Winning the support of older generations for new approaches to wealth management is not always easy. But as younger family members take up the reins at family offices, many are asking one question: how can they put more of their family’s wealth to work for good?
There was a time when the answer might have been to write bigger philanthropic cheques. But for this generation, market-based tools such as ESG (environmental, social and governance) investing and impact investing are far more appealing. Whether funding a school for girls in rural India or a wind farm in Spain, these investments aim to produce both a financial return and a social or environmental impact.