November 14, 2016
Our experts discuss how impact investing can complement charitable giving and may magnify the legacy of your family or foundation.
With philanthropy planning for the 2016 and 2017 tax years on the minds of many, now may be the perfect time to consider impact investments. These types of investments in companies, organizations and funds reach beyond a sole focus on financial returns and aim to generate a social and environmental effect as well.
Jonathan Firestein, Managing Director of Private Capital and Impact Investing for Ascent Private Capital Management, and Brooks Rarden, Managing Director of Investments for The Private Client Reserve, discuss how impact investing creates opportunities for both philanthropic giving and generating returns.
Why impact investing?
Firestein: Traditionally, social impact has been achieved through philanthropy: the giving of money and time to nonprofits, foundations and social service organizations. More recently, forward-thinking private wealth owners and foundations have also sought to complement their philanthropic activities by investing for impact.