Impact Shares, the first and only nonprofit exchange-traded fund (ETF) platform, has added experienced and well-regarded wealth manager and charitable giving expert Eric W Bennett, CFA, CPA, as a senior advisor.
Impact Shares is creating a series of single social issue investment strategies designed to improve engagement between nonprofits, corporate America and the investment community around specific social causes. All of the advisory profits of the individual ETFs will be directed back to the partner nonprofit organisations.
“Impact Shares’ mission is to bridge the gap between nonprofits and philanthropically minded investors, and our team and partner organisations will benefit from Bennett’s wealth of experience in structuring investment solutions as well as his role making investment decisions on behalf of mission based institutional endowments and ultra-high net worth families,” says Ethan Powell, founder of Impact Shares. “Mr Bennett built a well-respected family office and his addition to as senior advisor expands our capabilities and builds on the momentum we already have after receiving a grant from The Rockefeller Foundation.”
“Despite the support for and growth of the impact investing space, there are very few compelling investment solutions based on either social or financial outcomes,” adds Bennett. “Impact Shares will soon offer high-quality impact investment options that are focused on maximising specific social impact, while achieving a market rate of return. I joined the firm’s advisory board so my background in investing and not-for-profit work can help Impact Shares build on their success.”