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Heres a few ways that experts recommend incorporating social responsibilityinto your financial plan.
Competent advisors will understand this process and will be able to guide the family or institution through this process.
Families and institutionsneed to have conversations and dialogue with family members and stakeholders, said Duncan.
Proactive communication can have a positive influence on relationships and ultimately positively impact thedesired social outcomes.
Include Charitable Giving in Your Plan
Socially responsible financial planningtypically includes charitable giving.
Consult with competent advisors and legal professionals who have experience in this area.
It may also include setting a monthly budget to give now in addition to investing insustainable and socially-responsible companies.
This can save on taxes and allows you to give more to causes you care about.
There are some creative ways to fund these charitable giving vehicles, including donating investments.
I work with millennials who have equity compensation, said Josh Radman, financial advisor atPresidio Advisors, LLC.
Plus, theres a tax deduction available at the same time.
These funds are structured to help promote socially responsible investing, but also to make a solid return.
These funds exclude companies that dont prioritize these things, and help promote companies that do.
Ultimately,ESG and SRI fundsown large and small companies, similar to other mutual funds.
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