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Giving Compass' Take:
• Ben Paynter explains how Newday Investing, which allows people to start impact investing with as little as $5, is making impact more accessible.
• How can philanthropists support the spread of impact investing?
• Find out how Growfund is making donor-advised funds more accessible.
People interested in investing typically have two hurdles to clear: First, the learning curve associated with where their money might go, and, perhaps more importantly, making sure they can afford it. For millennials, that’s increasingly an ever-more complex value question: Many only want to put money into ventures that improve the world (and certainly not ones that hurt it). They also don’t trust traditional power brokers, and want evidence that their investment is used in a smart and impactful way.
Newday Investing, a recently founded impact investment firm expects to make all of these leaps far easier with a new kind of socially responsible investing platform that’s launching this week. It’s an iOS app that allows people to make financial investments that also generate some social and environmental returns. Contributors can invest in one of six funds, each of which have clear guidelines about where and how the money will be spent and claim to support specific causes.
Read the full article about lowering barriers to entry for impact investing by Ben Paynter at Fast Company.