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June 18, 2020 at 10:22 AM
Fifty-eight percent of investors in a recent survey conducted by New York Life Investments said their financial advisors play the biggest role in determining their investments, yet only 35% said they were aware of sustainable investing.
The survey also showed that when investors become informed about sustainable investing, 63% will choose sustainable strategies.
This leaves a lot of room for improvement, and New York Life Investments announced Wednesday that it was stepping in to fill the gap.
The firm announced the U.S. launch of Candriam Academy, a free-to-access, accredited training platform to help financial advisors and intermediaries better understand how to analyze, identify and evaluate sustainable investments.
The platform was developed by Candriam, a New York Life Investments boutique and global multi-specialist asset manager.
“Education is the bedrock of effective investment management, and our mission is to close the pronounced information gap in sustainable investing by providing high-quality, actionable tools and resources to help investors and advisors learn the essentials of ESG — especially as ESG funds have generated strong performance and record inflows during this most recent market environment,” Yie-Hsin Hung, chief executive of New York Life Investment Management, said in a statement.
According to the survey, which was conducted in the U.S. at the end of 2019 among some 600 men and women 25 and older, thirty-two percent of investors who reported they had worked with their advisors for less than five years had invested in an ESG fund, compared with just 9% who had worked with their advisors for 11 years or more.
