Stephanie Cohn Rupp won the award for CEO Pursuing Leadership in Wealth Management.
July 11, 2024

Veris Wins Three WealthBriefing Wealth For Good Awards in 2024

Our firm is honored to announce that our CEO and firm were awarded WealthBriefing Wealth for Good Awards in three categories in 2024:

  • Stephanie Cohn Rupp won the award for CEO Pursuing Leadership in Wealth Management. In their citation, the award judges wrote “Stephanie’s approach to impact investing was demonstrated to a very high level and is clearly aimed at supporting sustainable and regenerative ventures at a grass roots level, and across a diverse diversity and inclusion agenda.” 
  • Veris won in the Thought Leadership (Americas) category. Judges cited our firm’s report on Investing in Diversity, Equity, Inclusion & Belonging and contributions on themes ranging from gender-lens investing to the climate crisis. 
  • The firm also won the award for Internal Diversity, Equality, and Inclusion Program (Americas). Judges cited Veris’ work to diversify its own team while moving forward the industry conversation—including our equity, diversity and inclusion (EDI) due diligence framework.  

The WealthBriefing Wealth For Good Awards highlight organizations and individuals in the wealth management industry with a commitment to impact, diversity and inclusion and ESG. The judging process is conducted by professionals in the wealth management and banking sectors. There is no fee to be considered for these awards. For more information on the methodology and judging process, visit the WealthBriefing website. 

This is the second year in a row Veris was recognized in multiple categories. In 2023, Veris won Best Diversity and Inclusion Programme (Americas), Best ESG Communication Strategy (Americas), and the firm’s CIO Michael Lent Outstanding Individual Contribution in Wealth For Good (Americas).  

Many thanks to WealthBriefing, and to our dedicated team and amazing clients. 

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Roraj Pradhananga, Co-CIO of Veris live on Scripps News in June of 2024
June 17, 2024

Roraj Pradhananga Interviewed About ESG Investing on ScrippsNews

Full Transcript

Chris Stewart: He is Co-Chief Investment Officer and Managing Director at Veris Wealth Partners. Thank you for taking the time to be with us. Your group specializes in ESG investing. What’s an example of a company that is a good ESG investment?

Roraj Pradhananga: Before I offer an example, when we think about ESG investing, it is a set of factors you’re assessing to understand the product, services, and operations of the company. For example, if you look at Orsted, which is a renewable energy company that does large offshore and onshore wind projects, we (consider questions like) what is the product that the company is offering? Does it lead to a more sustainable future? And we also look at the operations of the company. How are they manufacturing these products? Are they looking at their energy efficiency? Are they looking at waste generation? Are they looking at recyclability and reusability? We look at all those factors.

On top of that, we also look at social and governance factors. So, for example looking at the governance structure, looking at shareholder rights, looking at board diversity, looking at board independence, et cetera, all make a difference in terms of how these companies are run because sustainable companies tend to be good actors and they not only care about generating returns — they also care about the communities they operate in and the planet as well.

Chris Stewart: Sustainability can be a divisive topic. In the business world, there are critics of ESG investing. Researchers at Columbia University found on average ESG funds pick firms with worse employee treatment and environmental practices.¹ The study also found that ESG funds charge higher management fees and obtain lower stock returns compared to non-ESG funds. When you read something like that, as someone who works in the industry, how do you respond?

Roraj Pradhananga: I think you need to bifurcate this in terms of the type of products that you’re investing in. Veris has been doing this since 2007. We look at the intentionality and authenticity of the investment products that we invest in. Getting an understanding of the rigor of ESG analysis and the types of companies that a fund, whether it’s a mutual fund or ETF, invest in is very critical. I think this is where greenwashing comes into play.

You must also look at active versus passive management. So, if you’re looking at passive management, and if a product, for example, is only using ESG scores and doesn’t really do an in-depth analysis of the operations of the companies, it might lead to some of those criticisms that we are seeing in the market. But there are also active products where a fund manager might do very in-depth analysis of the companies, but that also leads to certain impact on the risk return profile of that product because, in an actively managed product, you end up with exclusion — or rather lack of exposure — to certain industries or sectors. And that can have an impact on the risk return profile depending on the market cycle.

Chris Stewart: I think of the average person walking watching right now, they might have a financial planner. They might invest through a mutual fund. How can they have a conversation with their financial planner? To make sure the money, if they’re interested in this, to make sure the money is going to the right place.

Roraj Pradhananga: I think asking the financial planner what the investment thesis of the products they’re allocating your portfolio to is very important. Asking them to look at the holdings of those products is very important.

Ask about proxy voting. As equity owners, you have the right to vote proxies on various policies and agenda items in a company’s annual general meeting. I think ensuring that you understand the proxy voting track record around ESG guidelines is important.

And then finally, look at performance. Performance is important for sustainable investors. Ensuring that you not only have positive environmental and social impact, but also looking at the performance of the product is equally important.

Chris Stewart: Roraj Pradhananga from Veris Wealth Partners. Thank you for your insight. We appreciate it.

Note: This transcript was lightly edited for clarity and length. 

References

1. https://leading.business.columbia.edu/main-pillar-climate-change-sustainability/21st-century-finance/esg-mutual-fund.

Note: The author of the study cited by Chris Stewart, Columbia Business School Professor Shivaram Rajgopal, has gone on record noting that he believes “understanding environmental, social, and governance (ESG) issues is vital for business. (Source: What is ESG and Why Does it Matter). Professor Rajgopal’s remarks in that interview seem to support Roraj Pradhananga’s stated view that looking at the intentionality and authenticity of the investment products and rigor of ESG analysis is key in the practice of ESG investing.

Disclaimer

The information contained herein is provided for informational purposes only, represents only a summary of topics discussed, and should not be construed as the provision of personalized investment advice, or an offer to sell or the solicitation of any offer to buy any securities. Rather, the contents simply reflect the opinions and views of the speaker which may or may not come to pass.

Certain sample information, including references to specific issuers or companies, should not be construed as a recommendation of such issuer or company, and no inference should be drawn as to the performance of such company or whether it represents a good investment.

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Eric Hsueh, Director of Investments at Veris
June 10, 2024

Veris Spotlight: Eric Hsueh, Director of Investments

Eric Hsueh, Director of Investments at Veris, answers a few questions about his career in the financial services industry, his role at Veris, and vision for the future of sustainable, ESG, and impact investing. 

You began your career in traditional financial services roles. How did that experience inform your thinking and ultimately lead to your position as Veris’ Director of Investments?

Eric Hsueh: I’ve spent the bulk of my career in traditional financial services roles where I’ve had multiple roles spanning investment due diligence, portfolio management, and with clients. I learned a lot across all these roles, especially the basic building blocks of investment analysis and creating successful investment programs.

My role at Northern Trust working with clients in the London office early last decade was my initial exposure to the world of sustainable investing. European clients were already incorporating these principles in their investment portfolios, which led me to quickly learn more about the space. As I dived deeper into ESG and sustainable investing, the more it made sense to me. Why wouldn’t a portfolio manager or analyst include these factors as part of a holistic assessment of any investment opportunity? This experience working with European clients planted the seeds for what I wanted to focus on in the next parts of my career. Since then, I have been incredibly fortunate to work at a few firms purpose built for impact like Veris Wealth Partners.

What inspires you most in your work right now?

Eric Hsueh: I’m inspired by our firm’s vocal leadership and action on DEI and devotion to creating a sense of belonging, particularly in the face of the backlash over the past couple of years. To me, this isn’t about ideological preference. ESG, simply stated, is an investment research discipline which need not be politicized, divisive, or represent any ideology.

Diversity has been shown to benefit companies in many ways – if I was a CEO, leadership, or asset allocator, I would argue you’re shirking your fiduciary duties if you don’t think about DEI!

What is your vision for the future of the sustainable, ESG, and impact investing industry?

Eric Hsueh: My vision for the industry is a future where there is no specific delineation between impact investing, sustainable investing, ESG, and traditional investing. It should all just be called investing!

Sustainable and impact investing is being aware of the externalities that affect a business and thinking holistically about them and thinking about the durability of the economic model so that it’s not extractive in any way. ESG analysis enhances the insights provided by traditional, fundamental financial analysis. It does not imply a value judgment.

For example, access to water is fundamental to the business model for a semiconductor company. Therefore, it is critical to assess their approach to usage and conservation of this precious resource. For a mining company, an understanding of community relations is critical. Similarly, for a manufacturing or shipping company, an assessment of their safety protocols is also fundamental. In each case, having robust practices in those areas are key to sustainable business operations.

What does it mean to invest for impact across asset classes? What characteristics do you look for in investment managers?

Eric Hsueh: At Veris, we believe interconnected challenges require an intersectional approach to maximize impact and achieve sustainable, long-term positive impact. Therefore, we seek intentional investment managers with strategies connected to our four core impact investment themes across asset classes. For impact investors to generate measurable non-financial returns, it’s imperative to identify an investment strategy that specifies how intended outcomes will be achieved.

Veris Wealth Partners' approach to impact investing across asset classes

Across both public and private markets, we look for a firm or strategy that has a well-articulated impact thesis or “theory of change”.  A characteristic of leaders in the space is a differentiated impact approach that views ESG analysis as a driver of returns rather than primarily as a risk mitigator.  Other characteristics we look for (but are not limited to) include:

  • Strong buy-in across the organization, especially senior management
  • ESG analysis that is driven by insights from proprietary research rather than reliance on third party data
  • A comprehensive framework to act as active and informed shareholders. Ideally, the framework is applicable across the firm’s various strategies and different asset classes.
  • Strong stewardship and corporate engagement efforts
  • Measurable outcomes where a firm proactively collects and measures their impact.

About Eric Hsueh, CAIA

Eric Hsueh is Director of Investments at Veris Wealth Partners. He is responsible for sourcing, due diligence and monitoring of investments across asset classes, thematic research, capital markets analysis, and impact measurement and management. Eric is a Chartered Alternative Investment Analyst (CAIA) charter holder and a member of the CAIA Association and CAIA New York.

To learn more about Eric Hsueh, read his full bio.

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Veris won for Impact Investing (Advisory) and Diversity in Wealth Management (Company) at the 2024 Family Wealth Report Awards.
May 6, 2024

Veris Wins 2024 Family Wealth Report Awards for Impact Investing (Advisory) and Diversity in Wealth

Veris Wealth Partners, an independent, majority-woman-led financial advisory firm that serves families, foundations, and endowments, won awards for Impact Investing (Advisory) and Diversity in Wealth Management (Company) at the 2024 Family Wealth Report Awards.* 

Veris' COO Sheryl Kucer and Co-CIO Roraj Pradhananga accept the award for Impact Investing Advisory at the 2024 Family Wealth Report Awards.

Veris’ COO Sheryl Kucer and Co-CIO Roraj Pradhananga accept the award for Impact Investing (Advisory) at the 2024 Family Wealth Report Awards.

The annual Family Wealth Report Awards program recognizes the most innovative and exceptional firms, teams and individuals serving the family office, family wealth and trusted advisor communities in North America. Veris, which has a 100% focus on impact investing and ESG, won the Family Wealth Report Award for the ESG Investing (Advisory) category in 2023. 

“We are honored to again be recognized as leaders in our field by the Family Wealth Report Awards’,” said Veris’ CEO Stephanie Cohn Rupp. “At Veris, we believe that financial success and sustainable, positive impact are not mutually exclusive. Our aim to foster diversity and equity within our team and across our industry and economy reflects our conviction that inclusive perspectives drive better decisions and outcomes for our clients and for society. We see these nominations as an acknowledgment of our efforts and motivation to continue pushing the boundaries of what is possible in wealth management. Our journey towards creating a more sustainable and equitable financial future is far from over, and we are excited to continue leading the way.”

Veris' Co-CIO Roraj Pradhananga, CCO & GC Richard Chen, and COO Sheryl Kucer

Veris’ Co-CIO Roraj Pradhananga, CCO & GC Richard Chen, and COO Sheryl Kucer accept the award for Diversity in Wealth Management (Company) at the 2024 Family Wealth Report Awards. 

Stephen Harris, ClearView Financial Media’s CEO and publisher of Family Wealth Report, noted that every firm selected as an award finalist has been “subjected to rigorous and independent judging process” and said, “I offer my congratulations and best wishes for the future to all winners and highly commended firms.”

The judges that select the winners of The Family Wealth Report Awards are recognized experts from across the financial services industry, including family offices, private banks, consultants, and advisory firms. 

In their citation, the judges noted they selected Veris as the winner in the Impact Investing (Advisory) category because the firm “has had 100% focus on impact investing since inception; dedicated field-building efforts and research has helped Veris Wealth Partners build a reputation for leadership in this sector. The impact investments available to their clients are unusual, supporting first time fund managers and new impact themes.” 

For the Diversity in Wealth Management (Company) category, the judges said they chose Veris because the firm “showed strong statistics on diversity both internally and via the firm’s investment approach. Diversity, equity, inclusion and belonging are core aspects of how the winning firm operates and invests.”  

Winners were announced on May 2, 2024, at the Gala Ceremony at the Mandarin Oriental Hotel in New York, New York.

About Veris Wealth Partners

Veris is a financial advisory firm that applies sustainable and impact investing expertise across public and private markets to help foundations and families meet their financial and impact goals. Since 2007, Veris has been helping families and foundations align their investments with their mission and vision for the future. Learn more about Veris’ approach to impact investing.

About ClearView Financial Media Ltd (“ClearView”)

ClearView Financial Media was founded by Chief Executive, Stephen Harris in 2004, to provide high quality ‘need to know’ information for the discerning private client community. London-based, but with a truly global focus, ClearView publishes the WealthBriefing group of newswires, along with research reports and newsletters, while also running a pan-global thought-leadership events and awards program.

 

*No compensation was paid in connection with the receipt of the award.

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Real Leaders magazine named Veris Wealth Partners one of their top impact companies of 2024
January 8, 2024

Veris Named On Real Leaders 2024 List of Top Impact Companies

“At Veris, we’ve always believed in the power of responsible investing to create a positive and lasting impact. Veris is honored to be featured on Real Leaders’ 2024 list alongside so many companies that are working to build a more sustainable future.” 

-Veris CEO Stephanie Cohn Rupp

Veris Wealth Partners has been recognized by Real Leaders®️ as one of the top Impact Companies of 2024. Veris is an independent, woman-led, B Corp certified investment advisory firm with offices in New York, NY, San Francisco, CA, Portsmouth, NH, and Denver, CO. This is the second year in a row that the firm has been named on Real Leaders’ list of top impact companies. 

Real Leaders® is a media platform and CEO network “dedicated to inspiring the future of business.” Their Impact Awards recognize companies that are “solving existential problems through innovative and sustainable market-based solutions.” Their 2024 list features a mix of respected impact brands from across sectors including Cotopaxi, Vital Farms, and RSF Social Finance. 

“At Veris, we’ve always believed in the power of responsible investing to create a positive and lasting impact. Veris is honored to be featured on Real Leaders’ 2024 list alongside so many companies that are working to build a more sustainable future,” said Veris CEO Stephanie Cohn Rupp. “This recognition underscores our commitment to growing as a firm while remaining focused on our mission to drive meaningful change through our work. We look forward to continuing our journey as leaders in the field of impact investing.” 

About Real Leaders and their Impact Awards

The cover of Real Leaders MagazineReal Leaders®, which is itself a Certified B Corp, has a mission to “unite farsighted leaders to transform our shortsighted world.” Founded in 2010, Real Leaders recognized early on that businesses bore a responsibility to be as cognizant of their impact on employees, society, and the planet as they are on their bottom line. 2024 is the sixth year that Real Leaders has ranked the Top Impact Companies. This year, they received over 500 nominations from businesses located around the world. 

Real Leaders ranks the privately-owned companies that are nominated for the list by considering their answers to 30 questions within 6 categories of I.M.P.A.C.T (Intention, Model, People, Accountability, Collaboration and Transformation). Learn more about the Real Leaders Impact Awards nomination and ranking process here.

About Veris Wealth Partners

Founded in 2007, Veris Wealth Partners is an independent, majority woman-led firm that serves as investment consultants for endowments and foundations and as wealth managers for high-net-worth individuals and families. Veris aims to help their clients achieve their financial goals while aligning their portfolios with their values and mission. 

With deep knowledge of the sustainable investing landscape and relevant financial, environmental, social, and governance (ESG) issues, Veris structures diversified portfolios that aim to drive positive change while bringing rigor and discipline to the investment process. The firm operates on the belief that investing in companies committed to sustainability and ESG principles can deliver competitive market performance while mitigating risk and that investors can have positive social and environmental impact across asset classes and strategies through ESG integrated investing, shareholder advocacy, and thematic impact investing. 

Learn more about Veris. 

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Nonprofit organizations that Veris supported as a firm through monetary donations and volunteer support in 2023.
December 28, 2023

Nonprofit Organizations Veris Supported in 2023

Every year, Veris provides donations and other kinds of support to a variety of nonprofits across the United States. Our firm’s offices seek out local charitable organizations that are doing outstanding work to support vulnerable individuals, families, and communities. In 2023 Veris contributed to or provided volunteer service to the following mission-driven organizations based in New York, NY, San Francisco, CA, Portsmouth, NH, or Denver, CO. 

Acta Non Verba: Youth Urban Farm Project

With a name meaning actions not words, the mission of Acta Non Verba: Youth Urban Farm Project is to take actions that improve the lives of young people and families in communities in Oakland and East Bay, CA. This primarily BIPOC and woman-led organization offers a variety of programs, including urban farms that expand local access to fresh, healthy food as well as classes that teach about nutrition, food production, healthy living, and the natural environment.

The Chase Home  

Founded over 140 years ago, The Chase Home offers a variety of programs to help New Hampshire’s at-risk children, youth, and their families live happier and healthier lives. First established as an orphanage in 1877, The Chase Home now serves a mission to provide supportive and restorative residential and family services to at-risk youth in a safe and nurturing environment. 

Veris' Portsmouth team volunteering at The Chase Home, a local nonprofit

In October of 2023, Veris’ Portsmouth, New Hampshire team spent a day volunteering at the Chase Home. The Veris crew helped decorate the nonprofit’s residential care home for Halloween and gave out freshly baked cookies. 

Friends Forever International 

Founded in Durham, New Hampshire, Friends Forever International now provides empathy-based programming to vulnerable youth and their families globally. Their service list includes leadership programs, classes, and other types of support for youth from diverse backgrounds. Their mission is to help youth become the best versions of themselves so they can help their community become the best version of itself.

Make the Road NY

Offering community organizing and a variety of programs designed to support working class and immigrant New Yorkers, Make the Road NY empowers, engages, and helps vulnerable communities overcome challenges. With programs aimed at expanding access to education, legal services, health and wellness care, and more, Make the Road NY has helped millions of New Yorkers, inclusive of all immigration statuses, races, and gender identities, find safety, support, dignity, and justice.

New Hampshire Civics 

By offering non-partisan civics programs to children and adults, New Hampshire Civics serves their mission is to develop, nurture, and maintain an informed, engaged, and civil New Hampshire citizenry. Since they were founded in 2016, the organization has provided civic education and training to thousands of Granite State teachers and community members.

New York Immigration Coalition 

With a mission to transform the lives of all New Yorkers by strengthening and building the power of its member organizations, organizing and educating communities and the public, and using its collective voice to advocate for opportunity and justice, the New York Immigration Coalition is a member-led coalition of immigrant and refugee organizations from across the state of New York. By supporting initiatives aimed at changing unjust policies, growing civic participation, expanding access to education and healthcare, NYIC is working to build a New York where everyone is treated fairly and has equal opportunity to pursue their dreams.

Operation Blessing 

Veris’ Portsmouth Office helped out with the Operation Blessing Christmas Giveaway program in December of 2023. The volunteers helped local families in need select and wrap gifts for their children, which included new clothes, toys, crafts, and sporting equipment, in “Santa’s Workshop.” Since they were first founded in 1978, Operation Blessing has provided food, clothing, and household necessities to thousands of individuals and families in the Seacoast region of New Hampshire.

Urban Tilth

Based in Richmond, California, Urban Tilth has a mission to help build a more sustainable, healthy, and just local food system. This organization grows healthy food in community gardens and schools while also providing agricultural education, watershed restoration training, employment opportunities, and more. Their goals include teaching members of the local community about the relationship between food, health, poverty, and justice and forging partnerships with local small farmers to increase demand for their produce.

Veris' NYC office volunteered at the West Side Campaign Against Hunger in December of 2023.

In December of 2023, Veris’ New York office team volunteered at The West Side Campaign Against Hunger. As part of their service, they unloaded shipments and packed food boxes for distribution to the local community. 

The West Side Campaign Against Hunger, 

With a mission to alleviate food insecurity for local families, The West Side Campaign Against Hunger serves to ensure that all New Yorkers have access to healthy food choices. First launched in 1979, today the organization delivers millions of pounds of fresh food annually (including fruits, vegetables, whole grains, proteins, and dairy) to New York families in need.

Women’s Bean Project

Based in Denver, Colorado, Women’s Bean Project programming offers education, career training, and employment to chronically unemployed or formerly incarcerated women, while also providing transitional employment to meet immediate income needs. They prioritize independence, education, and dignity for the women they serve. 

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Veris visited Washington D.C. Our firm's delegation to US SIF Capitol Hill Day and Member Day events share their insights.
August 1, 2023

Veris Goes to Washington: Insights from US SIF’s 2023 Capitol Hill Day & Member Day

The US Sustainable Investment Forum (US SIF) is a member-based organization, established to be the leading voice advancing sustainable investing across all asset classes. Their mission is to rapidly shift investment practices toward sustainability, focusing on long-term investment and the generation of positive social and environmental impacts.

Veris was proud to co-sponsor US SIF’s 2023 Capitol Hill Day and Member Day in Washington D.C. this summer. Our firm sent Veris CEO Stephanie Cohn Rupp; CIO Michael Lent, Managing Director of Research Roraj Pradhananga, and Director of National Client Service Karen Walls deRochemont to Washington to participate in both events. 

Roraj Pradhananga, Michael Lent, and Karen Walls of Veris Wealth Partners in front of the US Capitol building.

Roraj Pradhananga, Michael Lent, and Karen Walls of Veris Wealth Partners in front of the US Capitol building.

Capitol Hill Day Activities

As part of Capitol Hill Day, approximately 50 US SIF members met with the offices of 40 different Representatives and Senators from both sides of the aisle to help educate members of Congress on financially material Environmental, Social and Governance (ESG) factors and data and why they are important to investors, urge them to support SEC disclosure proposals around climate risk and human capital issues, ask members to support the Congressional Sustainable Caucus in the US House of Representatives and to not allow riders to be attached to the Authorization’s bills that would limit the SEC’s authority. 

The delegation from Veris spoke with congressional aides who work with members of Congress including Senators Chuck Schumer (D-NY), Senator Thom Tillis (R-NC) Corey Booker (D-NJ), Robert Menendez (D-NJ), Jeanne Shaheen (D-NH), and Maggie Hassan (D-NH), Angus King (I-ME), Michael Bennet (D-CO) and Representatives Chris Pappas (D-NH) and Ann Kuster (D-NH). 

It was an honor to walk the halls of Congress in support of our firm’s mission and our clients’ vision for the future. 

Member Day Activities

The delegation from Veris also participated in US SIF’s Member Day event, which gathers together some of the leading voices of the sustainable investment movement for knowledge sharing and field-building conversations. 

At 2023’s Member Day event, we heard remarks from Representative Sean Casten (D, IL-6), Co-Chair of the Congressional Sustainable Investment Caucus, engaged in a listening session with incoming US SIF President Maria Lettini, and heard from industry experts on topics including refocusing the narrative around anti-ESG messaging and the Environmental Protection Agency’s Greenhouse Gas Reduction Fund. 

Stephanie Cohn Rupp, CEO of Veris Wealth Partners and US SIF's Director of Education and Outreach Michael Young.

Stephanie Cohn Rupp, CEO of Veris Wealth Partners and US SIF’s Director of Education and Outreach Michael Young. 

The Veris Delegation’s 6 Major Takeaways 

1. Congressional offices are knowledgeable about ESG topics. 

During our Capitol Hill Day experience, the Veris team saw high levels of conviction and interest from legislative aides who were extremely well versed in the legislative issues around ESG topics. It was inspiring to see so many passionate young professionals who are working to educate our congressional representatives and senators about pending legislation. 

We also saw signs of progress made in terms of greater congressional awareness of relevant critical issues surrounding ESG and in the depth of the questions that had to address their concerns. For example, Senator Chuck Schumer and his aide were very aware of EU Sustainable Finance Disclosure Regulation (SFDR) and the Sustainability Accounting Standards Board (SASB). Their primary questions were around avoiding the pitfalls they have seen Europe face. They wanted our thoughts on the best approach for how to incorporate and codify disclosure rules going forward. They were digging into these topics in detail to inform decision making and rulemaking. 

Hopefully the Congressional Sustainability Investment Caucus, which was created to help inform Congress about ESG topics, will continue to look for new Representatives to join to continue to be internal advocates for these critical issues.

2. There is strong support for SEC disclosure rules. 

All the Democrats that the Veris delegation spoke with were supportive of SEC disclosure rules on Climate Risk and Human Capital Management. 

When we advocated for the passage of SEC disclosure rules, we heard aides say that they see it as a way of increasing transparency for investors so they can better understand the potential impacts of their investment. We heard some aides emphasize the need for public messaging around the potentially negative impact of not including financially material ESG factors in investment decision making. 

The primary concern we heard from our Congressional representatives around standards requiring Scope 3 emission measurement and reporting, was that the requirements might place regulatory burdens on corporations and small businesses. They are concerned about the impact on farmers and the restaurant industry especially and are seeking ways to address these issues. 

Veris' Managing Director of Research Roraj Pradhananga with members of US SIF.

Veris’ Managing Director of Research Roraj Pradhananga with members of US SIF.

3. We heard support for universal global standards. 

One major refrain we heard concerned the need for universal global standards for measurement and reporting of material ESG factors to make it easier for businesses to comply. Linda-Eling Lee, Head of ESG research at MSCI, said that it will be important to ensure that the US  standard is consistent with the regulatory framework in Europe. Universal global standards would make it easier for businesses that operate both in the US and in Europe to comply, because they would not have to abide by two separate sets of rules. 

4. US Congress members on both sides of the aisle need to hear from ESG supporters.

We heard it expressed that our field needs to have a strategy for engaging Republican members of the Senate who seem to be persuadable to vote for policies that support ESG investing. This is particularly important because there are concerns that SEC rulemaking could be blocked by attachments to the appropriation bills in September. 

We also heard from congressional staffers that Democrats need to hear from their constituents on these issues just as much as Republicans do. Hearing from constituents is very important for driving action in Congress across the political spectrum. 

As part of the conversation with Senator Mendez’s office, we discussed the fact that the House passed the Corporate Governance Improvement and Investor Protection Act, which would require disclosure of racial, gender, ethnicity of the board and C-suite members of public companies, in June of 2021 but it still hasn’t passed in the Senate. This Act includes many provisions we want to see, including disclosure on diversity, lobbying, C-Suite compensation, climate related risks, and more. Senator Menendez is pushing for more corporate governance disclosure and there is the potential for movement on that soon. If you support that, you may wish to write to your senators to express your views. 

5. We need to get better at explaining ESG. 

One of the major themes of the conversations that took place at US SIF’s Member Day event was that, as a field, we need to do a better job of explaining what ESG is and why integration of financially material ESG factors is so important in investment decision making. 

Most of the anti-ESG sentiment is broad and focuses on terminology instead of real-world concerns. Critics of ESG tend to attack the acronym in general ways – calling it “woke capitalism” instead of pointing to specific issues. 

We heard an idea expressed that the best approach would be to focus on our shared values and find ways to talk about financially material ESG factors and ESG in personal terms so that it’s more relatable. One powerful way to do this would be to offer real-world examples of environmental, social, and/or governance factors guiding decision-making. For example, increased wildfire risk due to climate change has already led at least two major insurance companies to stop offering homeowners insurance in the state of California.

Take a look at ESGtruths.com to get specific talking points to help connect with people – your friends, family, colleagues and elected representatives alike. 

6. US SIF seeks to further build the field. 

US SIF is helping to build the field of sustainable investing through research, education, media outreach, and policy advocacy. Your voice and perspective can help accelerate that work. 

If you are not already a member, consider joining US SIF. Membership is open to asset owners and asset management firms, and other types of organizations and service providers that are active in the field of sustainable and responsible investing.

If you are a member, US SIF’s New CEO Maria Lettini said at Member Day that she is actively seeking feedback on the future of the organization. She wants to hear from Members on what vision for the future we collectively want to see the organization advocating for. If you are a member, you can contact US SIF to express your ideas about the best path forward.

Disclaimer 

The information above is provided for informational purposes only, represents only a summary of topics discussed, does not constitute investment advice, and solely reflects the views of the authors, which are subject to change without notice. Additionally, this document contains information derived from third party sources. Although we believe these third-party sources to be reliable, we make no representations as to the accuracy or completeness of any information derived from such third-party sources and take no responsibility, therefore.

Although Veris has highlighted herein various initiatives relating to policy activism in which it has participated, no inference should be drawn as to the success or failure of such initiatives or the ultimate impact on the financial or impact results achieved by our clients.  

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Veris wins 3 Wealth for Good Awards in 2023
July 10, 2023

Veris and Firm CIO Michael Lent Honored With Three Wealth for Good Awards

NYC, San Francisco, Portsmouth, – Veris Wealth Partners, an independent, woman-led impact wealth management firm, won two Wealth for Good Awards and the firm’s Co-founder and Chief Investment Officer Michael Lent was honored for Outstanding Individual Contribution in Wealth for Good. 

The Wealth For Good Awards recognizes the most innovative and exceptional firms, teams, and individuals in the global wealth management industry. Winning these Wealth for Good awards, “validates what I’ve been doing for 30 years and what Veris has been doing for 16 years,” said Veris’ CIO Michael Lent. Veris won in the following categories: 

Outstanding Individual Contribution in Wealth For Good (Americas) – Michael Lent 

Award organizers noted that Michael Lent was selected to receive this award as “a pioneering impact investing leader who has been delivering financial planning and investment consulting services to high-net-worth families, family offices, and foundations.” The judges noted that Michael’s “leadership and contributions to the impact sector have been immense” and praised him for his “vision, commitment, and achievements.”  

Best ESG Communication Strategy (Americas)

The ESG communication strategy category applies to internal and/or external communication and also includes a review of how the strategy has been implemented. The judges noted that Veris was selected because the firm has been “a trailblazer” in their distinct focus on ESG and impact investing themes and communications highlighting their belief that the integration of material ESG factors can mitigate risk and have a positive impact on returns.

Best Diversity and Inclusion Program (Americas)

In their award citation, judges highlighted evidence that “Diversity, Equity, Inclusion and Belonging influence all aspects of work” at Veris, including company culture, vendor selection practices, and investments as well as the firm’s “aim to foster an inclusive economy, expand economic and financial access and cultivate a sense of belonging internally and externally.” 

A Look Towards the Future

Speaking to what he hopes the future impact of the Wealth For Good awards will be, Michael Lent said, “we believe that, as a firm and as a field, we will need to rise to meet new, complex challenges related to poverty and climate change. We want to see more investment managers focused on opportunities to create authentic positive impact. Veris participates in efforts to build the field and expand the amount of assets and the number of strategies built to address critical challenges. We believe that investors can play an important role in solving these challenges and that Veris can play a role in helping make that happen.” 

About the Wealth for Good Awards

The Wealth For Good Awards are part of a global program run by WealthBriefing and Family Wealth Report. The awards have been designed to showcase outstanding organizations deemed by a panel of independent judges to have “demonstrated innovation and excellence during the last year.” The judging process was conducted by a panel of experts from family offices, private banks, trusted advisers, consultants, and other service providers with deep knowledge and experience in the industry. 

“I offer my congratulations and best wishes for the future to all winners and highly commended firms – they are all worthy recipients” said Stephen Harris, ClearView Financial Media’s CEO, and publisher of WealthForGood. 

Winners and highly commended companies were announced on July 6, 2023.

About Veris Wealth Partners 

With a mission to create an equitable, just, and sustainable world through capital markets, Veris Wealth Partners is a wealth management firm that builds customized, well-diversified portfolios that focus on creating long-term, sustainable social and environmental impact. 

With offices in New York City, San Francisco, and Portsmouth, NH, Veris helps high net worth individuals, families, and foundations achieve their financial goals while aligning their wealth with their values. 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. The firm’s four impact themes are Climate Solutions & The Environment, Sustainable & Regenerative Agriculture, Community Wealth Building, and Racial & Gender Equity. 

For more information, visit www.veriswp.com.   

About ClearView Financial Media Ltd (“ClearView”)

ClearView Financial Media was founded by Chief Executive, Stephen Harris in 2004, to provide high quality ‘need to know’ information for the discerning private client community.  London-based, but with a truly global focus, ClearView publishes the WealthBriefing group of newswires, along with research reports and newsletters, while also running a pan-global thought-leadership events and awards program. 

Contact 

Mandy Gardner, Marketing Associate, Veris Wealth Partners 

mgardner@veriswp.com

Veris WP
May 9, 2023

Veris Wealth Partners Recognized as Best ESG Investing (Advisory) Firm at the 2023 Family Wealth Report Awards

NYC, San Francisco, Portsmouth, – Veris Wealth Partners, an independent, woman-led, B Corp certified impact wealth management firm, has been selected as the winner in the Best ‘ESG Investing (Advisory)’ category at the Tenth Annual Family Wealth Report Awards.

The annual Family Wealth Report Awards program recognizes the most innovative and exceptional firms, teams and individuals serving the family office, family wealth, and trusted advisor communities in North America. Award organizers announced that Veris was selected for Best ESG Investing (Advisory) because “the firm’s 100% focus on impact investing and ESG investing made it a clear winner in this category.” They noted that the judges were also impressed by our firm’s community lending platform which enables Veris clients to invest in entrepreneurs in low-income communities across the United States.

“We are honored to receive this recognition of our firm’s leadership in our industry and dedication to ESG in our investment approach and platform,” said Veris CEO Stephanie Cohn Rupp. “This is a testament to everyone’s hard work at Veris and our leadership in the space of ESG investing, sitting on the shoulders of our founders.” 

Veris Wealth Partners is named the winner in the Best ‘ESG Investing (Advisory)’ category at the Tenth Annual Family Wealth Report Awards.

Veris’ General Counsel Richard Chen, COO Sheryl Kucer & CEO Stephanie Cohn Rupp receive the award for best ESG Investing (Advisory) firm.

About the Family Wealth Report Awards

The Family Wealth Report Awards’ judging process was conducted by a panel of experts from family offices, private banks, trusted advisers, consultants, and other service providers with deep knowledge and experience in the industry. 

“Every category winner and highly commended firm has been subjected to rigorous and independent judging process” said Stephen Harris, ClearView Financial Media’s CEO, and publisher of Family Wealth Report, “and (can) be rightly proud of the success they have achieved this year.”  

Winners and highly commended companies were announced on May 4, 2023 at a Gala Ceremony at the Mandarin Oriental Hotel in Manhattan, New York. 

About Veris Wealth Partners 

With a mission to create an equitable, just, and sustainable world through capital markets, Veris Wealth Partners is a wealth management firm that builds customized, well-diversified portfolios that focus on creating long-term, sustainable social and environmental impact. 

With offices in New York City, San Francisco, and Portsmouth, NH, Veris helps high net worth individuals, families, and foundations achieve their financial goals while aligning their wealth with their values. 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. The firm’s four impact themes are Climate Solutions & The Environment, Sustainable & Regenerative Agriculture, Community Wealth Building, and Racial & Gender Equity. 

For more information, visit www.veriswp.com. 

About ClearView Financial Media Ltd (“ClearView”)

ClearView Financial Media was founded by Chief Executive, Stephen Harris in 2004, to provide high quality ‘need to know’ information for the discerning private client community.  London-based, but with a truly global focus, ClearView publishes the WealthBriefing group of newswires, along with research reports and newsletters, while also running a pan-global thought-leadership events and awards program. 

For More Information 

Contact Mandy Gardner, Marketing Associate at Veris Wealth Partners mgardner@veriswp.com

Veris WP
Veris Wealth Partners celebrates Transgender Day of Visibility
March 31, 2023

Transgender Day of Visibility 2023

March 31st is Transgender Day of Visibility. Today, we celebrate the transgender and gender-expansive community, honor the contributions of transgender individuals to society, and work to raise awareness of the challenges and discrimination that trans and non-gender conforming people face every day.

Rachel Crandall Crocker, a transgender psychotherapist and activist based in Michigan, founded Transgender Day of Visibility in 2009 to address the lack of positive representation of trans people in American media and culture. The event has since grown into a globally recognized celebration of the courage and resilience of transgender individuals that also raises awareness of the challenges and discrimination trans people face.

The mission of Transgender Day of Visibility is especially critical now as a wave of laws targeting the transgender community are being introduced across the country. As of today, Trans Legislation Tracker is tracking 492 anti-trans bills from across the United States that are designed to “block trans people from receiving basic healthcare, education, legal recognition, and the right to publicly exist.”

Ways to Support the Transgender Community

There are a number of ways that allies and advocates can support the trans community:

  • Listening to the stories of trans people and educating ourselves about the unique experiences and challenges that transgender individuals face
  • Supporting organizations that are working to advocate for and protect transgender rights and promote education and awareness about transgender issues
  • Speaking out in support of transgender-inclusive policies in our schools and workplaces
  • Challenging harmful stereotypes and misinformation about transgender people and standing up against discrimination and hate crimes

Below is a list of organizations that provide support Transgender individuals and are working to help build a more inclusive and welcoming world:

Transgender Law Center

Trans Lifeline

National Center for Transgender Equality (NCTE)

Transgender Legal Defense & Education Fund

LGBT Foundation

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