Apr 27, 2021
In this episode, Steve talks with Bruce Herbert, Founder and CEO of Newground Social Investment in Seattle, Washington. Newground focuses on helping clients make a socially responsible impact with money.
Whenever money moves, it has an impact. Investing responsibly and thinking long-term has changed company policy for the better and outperformed financially for investors.
Early in his career at Merrill Lynch, Bruce felt the commission-based system inherently created a conflict of interest with clients. That uncomfortable feeling prompted his desire to rework the financial model and focus on impact first.
Now an industry leader in responsible investing, Bruce uses shareholder voices to change company policy rather than simply selling shares and walking away from the morally questionable.
Bruce and Steve discuss the pillars of responsible investing, what every client looks for, the importance of leaning on experts, and why the most sustainable approach is often the most profitable.
“One of the things that I recognized was an almost complete convergence between what’s most profitable and also the most sustainable. If you have a longer-term time horizon – and I don’t mean a century, I mean even just three, five, or 10 years – then what’s the most profitable thing is also the most sustainable, the most equitable thing, the most just and fair thing to be doing. ” ~ Bruce Herbert