Friday is Earth Day, so as thoughts turn to being green, advisors may want to rethink their eco-friendly options.
While green marketing has been low on the totem pole as financial services firms have focused instead on the fallout from the financial crisis, new research indicates that perhaps it's time to take another look.
This is particularly the case for companies that want to attract new clients within the demographics of the under-35 age group, women and Hispanics.
A report released on Wednesday containing research by consumer, product and media intelligence supplier Mintel, titled "Green Marketing in Finance, 2011," shows that 72% of respondents "feel good about working with a financial services firm that invests in companies that are looking at eco-solutions." Lest companies get too cocky about this, however, and believe that a little green luster is all it will take, be warned: nearly half of respondents also said they believe companies claiming green credentials are just trying to improve their image.