Fiduciary Duty Rule Change to the Rescue: Should Millenials and Responsible Investors Take Heart?

July 6th, 2016
While the duty of impartiality has not been given as much attention as other fiduciary duties (duty of care, duty of loyalty, etc.), it may well lead to disrupting the investment community. As pension and retirement advisors increasingly represent Millennials, many of whom may not retire for nearly 50 years, failure to consider sustainability in their investment advice may constitute a failure to be impartial. Millennials’ financial investments align with their concerns and their worldview, it could dramatically alter the financial landscape. And should Millennials opt en masse to “sustainably” invest, shifting their considerable existing — and prospective — financial wealth to assets that address their values, the financial landscape could be far different.