Goldman Sachs Announces Employee-Owned Spinoff: First Affirmative Financial, the SRI Pioneers
While the investment world is buzzing about Goldman Sach's conspicuous decision to get in the RIA custodian game, let's turn our focus to the return of employee-owned RIA, First Affirmative.
In May, Goldman Sachs announced acquisition of Folio Financial, a self-clearing broker firm and technology company that, itself, acquired First Affirmative back in 2016.
First Affirmative is notable for leading the industry in Sustainable, Responsible, and Impact investing (SRI) for over 30 years, hosting the US's largest SRI conference, annually. In addition to their Environmental, Social, and Governance (ESG) investing, they offer products to help other firms service investors interested in social and cultural impact.
Check out the press release, here.