Los Angeles partner Fred Reish was mentioned in a USA Today article titled, “Socially responsible funds can give your 401(k) a conscience.” The article highlights an article by Fred (along with co-authors, Bruce Ashton and Josh Waldbeser) published in PlanSponsor regarding socially responsible investments (SRIs). Last fall, the Department of Labor issued guidance easing the fiduciary burden for selecting these investments. Though there previously wasn’t a large demand for these funds, Fred discusses possible growth.
“One, Millennials might be more interested than Boomers and Gen X in SRIs. And two, SRIs may be consistent with the culture of a socially conscious or environmentally sensitive company,” he said.