The Duke and Duchess of Sussex have said they are putting their “values into action” as they announce a new corporate partnership with an asset management company.
Prince Harry and Meghan, who have invested in fintech asset manager Ethic, said they “want to rethink the nature of investing to help solve the global issues we all face”.
As such, and in line with their stated mission to encourage “compassion in action” with their every move, they are now joining Ethic as investors and “impact partners”.
The company, based in New York, currently has $1.3 billion under management, and invests in ethical companies.
Describing its business model, it states: “We create personalised sustainability solutions to help investors transition money toward companies that treat people and the planet with respect.”
‘Voting with dollars and pounds’
In an interview with the New York Times announcing their new deal, the Sussexes made a contrast between their respective upbringings.
The Duchess said: “From the world I come from, you don’t talk about investing, right? You don’t have the luxury to invest. That sounds so fancy.”
But, she added: “My husband has been saying for years, ‘Gosh, don’t you wish there was a place where if your values were aligned like this, you could put your money to that same sort of thing?’”
Prince Harry told the newspaper: “You already have the younger generation voting with their dollars and their pounds, you know, all over the world when it comes to brands they select and choose from.”
After the New York Times announced the couple were “getting into the investment business”, they added a statement to their website, Archewell.
Our investments can ‘change the world’
It stated: “When we invest in each other we change the world … Be it through the investment of time (as with mentoring), investment in community (as with volunteering), or the investment of funds (for those who have the means to), our choices – of how and where we put our energy – define us as a global community.
“We believe it’s time for more people to have a seat at the table when decisions are made that impact everyone. We want to rethink the nature of investing to help solve the global issues we all face.
“This is one of the ways we put our values in action.”
Prince Harry and Meghan have left the working Royal family, pursuing financial freedom in California.
The newspaper reported that the couple hoped that their involvement in Ethic “would help democratise investing, making people – especially younger people – more deliberate in their choices and conscious of investing in sustainable companies”.
They have already signed deals with Netflix and Spotify, while the Duchess has disclosed some of her own investments, including a coffee company, and the Duke has been appointed “chief impact officer” of BetterUp Inc, and a board member of the Aspen Commission on Information Disorder. He is also writing a memoir.