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Veris Wealth Partners Releases 2022 Impact ReportVeris Wealth Partners, a B Corp certified impact wealth management firm founded in 2007, has released its 2022 Impact Report. In this report, Veris, which manages approximately $2 billion in AUM (as of October 31, 2022), details the environmental and social impact their clients' investments helped create in late 2020 and 2021. Impact highlights from the report include: This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20221128005169/en/
The Report also celebrates the firm's 15th anniversary, enduring independence and 100% focus on authentic ESG and impact investing and details the results of the firm's work in shareholder activism, efforts to dismantle obstacles to diversity, equity, inclusion, and belonging within Veris and across the industry, and more. Veris is one of the oldest impact wealth management firms in the United States and distinct for its continuous focus on authenticity and tracking of both financial returns and real world outcomes from a social and environmental perspective. Approach, Themes, and Impact The firm's approach to ESG and impact investing is to leverage traditional aspects of wealth management infused, in all aspects of wealth management services, with Impact/ESG considerations. The firm serves foundations and families and builds customized, diversified portfolios that focus on achieving sustainable, long-term social and environmental impact in specific thematic areas. These themes are climate solutions and the environment; sustainable and regenerative agriculture; racial and gender equity; and community wealth building. Veris believes investors can have positive social and environmental impact across all asset classes and strategies through ESG integrated investing, shareholder advocacy, and thematic impact investing. Since inception, Veris has taken and continues to play a leadership role in the sector of impact investing. The firm's CEO, Stephanie Cohn Rupp, is currently on multiple boards, including that of The Forum for Sustainable and Responsible Investment (US SIF). Both Veris and US SIF are focused on responding to the current attacks on the ESG sector. The Veris CEO in her latest piece "On the Wrong Side of History" posits that Republican politicians attacking ESG do not represent the beliefs of the majority of Republican voters and that ESG attacks are misplaced - as the energy industry itself is evolving away from fossil fuels. To remain authentic and accountable, the ESG sector needs to continue to report on the negative and positive effects of ESG investments. 15+ Years of Independence Veris celebrates its pioneering history and 15th anniversary of leadership as an independent impact wealth management firm in their new Impact Report as well as the distinctive vision of its founders Patricia Farrar-Rivas, Michael Lent, David Hills, Anders Ferguson, and Steve Fahrer. "Our founders had a vision to create a different type of financial institution, one where mission alignment was not optional - but core to the firm," wrote Veris CEO Stephanie Cohn Rupp in her introduction to the report. "Veris was created to serve families, individuals and foundations/endowments who wish to do away with the cognitive dissonance of granting money for a cause and investing in a way that ignores real world negative and positive externalities. Finance is not agnostic, and we believe every investment has an impact, whether we choose to acknowledge it or not. Our firm's Founders were well ahead of the curve. Fifteen years after Veris began this journey, many wealth management and other investment firms have caught on to this important movement, but Veris remains distinct in our 100% commitment to having an impact." While much of the wealth management sector is consolidating with ongoing acquisitions, one catalytic way Veris was able to maintain its independence was to take on a minority long term equity investment from Rosemont Investment Group in 2022. "Earlier this year Rosemont proudly announced a permanent capital investment in Veris, recognizing its stature as a pioneering impact wealth management firm," said Rosemont's Managing Director of Investments, Brad Mook. "The comprehensive Impact Report Veris is launching today is a testament to its leadership in ESG/impact investing and a roadmap to its exciting future." The Future of Veris Wealth Partners' Impact Report Looking towards the future of the firm's impact reporting, Veris Partner and Head of Research Roraj Pradhananga said, "While we've made significant progress in the last few years and our approved managers are tracking and reporting better impact data, our goal is to continue to enhance impact reporting across asset classes and strategies so that clients understand the overall impact of their portfolios." About Veris Wealth Partners Founded in 2007, Veris Wealth Partners is one of the oldest and most experienced impact wealth management firms. With offices in New York City, San Francisco, and Portsmouth, NH, Veris helps high net worth individuals, families, & foundations manage, grow, and preserve wealth while aligning their wealth with their values. The Veris investment approach is rooted in our belief that investing in companies that are committed to sustainability and ESG principles can deliver competitive market performance while mitigating risk for investors. For more information, visit www.veriswp.com. Legal Disclaimer The Impact Report is intended for informational purposes only, provides only a summary of topics discussed, and reflects the opinions of Veris. The contents should not be construed as a recommendation of any investment manager, fund or security. Readers should consult their financial advisors to determine if the managers, companies, or funds referenced in the report are appropriate for their personal investment. The information provided illustrates efforts to influence social and environmental issues. The selection was unrelated to financial performance and collected from various sources all of which are believed to be reliable but have not been independently verified. Impact figures are generally approximate values. Veris requested that managers provide impact results for calendar year 2021. However, the information presented may reflect impact results prior to calendar year 2021 because of delayed reporting by underlying managers. The impact metrics presented in the Impact Report are compiled based on information reported by managers and funds utilized by Veris and are estimated and unaudited. Data (including, without limitation, information pertaining to impact results) has been provided by third parties. While we believe such information provided by third parties to be reliable, we make no guarantees as to the accuracy or completeness of the information presented. No assumptions should be drawn as to whether the results of other portfolio companies of managers and funds utilized by Veris compare positively or negatively with the results of the portfolio companies highlighted in the Impact report. There are other portfolio companies of managers and funds utilized by Veris which have not achieved their intended impact results. Past performance is no guarantee of future results.
1 Veris 2022 Impact Report, IRIS Metric PI5842, reported by 10 alternative strategies and 3 public equity strategies
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