Steve Schueth might abstain from alcohol, tobacco and gambling. But he’s not trying to convince you to do the same.
“I don’t consider myself a missionary,” he says. “We are not out to convert anyone.”
Instead, Schueth’s disciples find him. They believe he can line their pockets with the power of good rather than greed. And, as the roller-coaster ride once known as the stock market continues on another course of ups and downs, Schueth isn’t doing so badly.
Schueth is no preacher and there’s nothing pious about his work. As president of First Affirmative Financial Network, an independent investment advisory firm working in the field of socially responsible investing, Schueth puts together portfolios that integrate profitability with personal values.
“It’s about investors wanting their money to do double duty,” he says. “Investors who want their money to make money and make a difference.”
The idea hasn’t been an easy sell on Wall Street. But the financial crisis has changed the playing field. Socially responsible portfolios have experienced losses like everything else. But compared with their competitors, these funds haven’t sunk quite so fast. …read more
