PORTLAND, ME / ACCESSWIRE / June 15, 2021 / Professional financial advice is often considered a luxury, something only needed by the ultra-wealthy, or those that have a lot of assets such as homes or investments. Maine-based firm Penobscot Financial Advisors has a different approach than most; they believe anyone, no matter the income level or situation, should have access to financial planning. With a unique team-based approach they are helping clients from all walks of life with comprehensive financial planning and investment management. This fee-only fiduciary is leading the way in making financial planning accessible to all while employing and honoring the principles of Environmental, Social, and Governance (ESG) criteria.
In simple terms, ESG is a set of guidelines, or standards centered around those three criteria, that a company or entity will operate by. It is often referred to as sustainability, at Penobscot Financial Advisors it is also referred to as investing with conscience.
Environmental standards consider the ways a company performs and approaches being a steward of nature, examining how companies, business services, and investment firms address environmental issues. This focuses on a company’s environmental record, history, carbon footprint, management of environmental risks, and energy use. It is a point of pride and principle at Penobscot Financial Advisors that they only associate with companies that are taking a constructive stance on environmental issues and sustainable business practices and ensure that they implement these same methods in their own firm.
Social criteria refer to how a company approaches and manages relationships with different stakeholder groups, including employees and clients. Penobscot Financial Advisors asks the hard questions and does extensive research into how companies treat employees, how they interact with and give back to the community. They investigate how companies address and operate in relation to human rights, and how they address data privacy among other issues.
Governance criteria reference the way a company manages and structures its leadership, and also refers to how transparent a company is, how involved stakeholders are, is a board of directors running the company, are there independent people looking out for stakeholders, etc. A company’s diversity falls into this area, a company that has a diverse group to take input from is something that makes a true difference in how a company is perceived and how it runs.
ESG is a buzzword of the financial world right now, however, it has always been a top priority at Penobscot Financial Advisors. No effort or details are spared when investing in reliable tools and information to ensure they work exclusively with companies that meet these high requirements. ESG is an integral component at the core of how their business is structured and considered in every decision made. They choose to work only with ESG criteria compliant companies not only because it is how they run their own business, but also because companies that are good stewards of the environment, ahead on social issues, and whose governance is good, fair, and diverse, tend to be well-positioned to perform better.
The Penobscot Financial Advisors team performs in a unique way, operating under a team-based business model. Acknowledging that no one person can be an expert in everything, they welcome all types of different mindsets and areas of expertise. This creates a well-rounded and diverse team that is ready to take on anything a client needs. For financial planning services, Penobscot Financial Advisors does not charge their clients hourly, instead, they charge a flat-fee based on household income with the option to pay monthly, making financial planning advice more attainable for the everyday person. Penobscot Financial Advisors work with their planning clients over the course of a year, tackling various planning topics and coaching their clients through action items and small steps to attain their long term goals. A full assessment of the individual situation is performed, a tailored solution recommended, agreed upon and then implemented. Penobscot Financial Advisors operates on a case-by-case basis, knowing that every person’s financial situation and needs are different and each will require a unique approach. A large part of what they provide for clients is education, walking them through the different processes, and explaining what the best options for their specific goals are.
Founded by CIO Jim Bradley, the company has evolved over the last 25 years to embody this unique team-based approach with an extraordinarily strong team dynamic and ethic. The team is dedicated to providing the best possible quality of financial advice to everyone, welcoming the people other advisors have closed the door on. They strive to be accessible to everyone because they believe everyone deserves to have the best level of service and financial advice, regardless of their station in life. Get in touch through the company website and connect with the team on Facebook to take the first step towards a better financial future.
Investment advisory services provided by Penobscot Wealth Management d/b/a Penobscot Financial Advisors. Investing involves risks, including the potential for loss of principal. There is no guarantee that a strategy focusing on Environmental and Social Governance, or any other strategy, will be successful. Investments and strategies discussed may not be suitable for all investors.
SOURCE: Penobscot Financial Advisors
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