As of 2016, impact investing accounted for $8.72 trillion of managed assets, according to a study by US SIF, the Forum for Sustainable and Responsible Investment. But a recent report by Distilled Analytics and Boundless Impact Investing says there’s still a lack of accurate, accessible data and outdated measurement of these investments. Currently, measurement of the impact of these investments is largely dependent on surveys and self-reported data; there are few common standards and useful tools investors can use to evaluate impact investments. “Just like big data is revolutionizing industries like health care and financial services, quantified impact measurement will drive better investment decisions and ultimately move more capital to the most effective solutions for addressing the world’s most pressing social and environmental problems,” noted Michele Demers, CEO of Boundless Impact Investing.
Detroit-Based Family Offices Are Stealing Talent from Other Cities
The number of family offices in the Detroit area has grown significantly in recent years and they’re now attracting top talent from places like Chicago and New York, according to Crain's Detroit Business. “Five years ago, it was very tough to recruit people here. Now? People want to come. They see the growth here,” said Sam Simon, founder of Taylor-based Atlas Oil Co. and his family office, Simon Holdings Group. Wealthy families say a family office maintains a level of independence and gives them more control over their wealth, rather than working with a traditional wealth manager.
Kestra Financial Brings in New Firm
Kestra Financial announced that they are now supporting Questmont Strategic Wealth Advisors, a Pennsylvania-based wealth management group with $420 million in assets. Founder Taylor Ranker, who leads Questmont alongside his wife, Sonya Ranker, noted that Kestra’s technology was an important consideration when making the decision. Questmont specializes in providing wealth guidance for clients with highly sensitive needs: business owners and women who are planning for life after a divorce or losing a spouse. “At Kestra Financial, we offer adaptable technology solutions that will support Questmont’s next phase of growth,” said Daniel Schwamb, senior vice president of business development, noting that the advisor platform will strengthen Questmont’s client offerings while simplifying operations.
