Millennials Think About Charity Entirely Differently — they invest in companies making a positive impact and "social entrepreneurism."
"A study by Bank of America-owned U.S. Trust showed the youngest of the three generations isn’t as interested in writing a check for a good cause — millennials would rather contribute in other ways, which could affect how an advisor manages their wealth. Only 36 percent of millennials defined ’giving’ as making a charitable financial donation, versus 61 percent of Gen X participants and 83 percent of Boomers."
[COMMENTARY] This is good news for advisors and the financial markets. It assists the overall orientation towards ESG and is positive for improved ethical behavior in all financial market participants.
Millennials Think About Charity Entirely Differently, June 14, 2017, WealthManagement, USA.