Mobile investing apps are becoming “must haves” these days, and their popularity is expected to increase in the coming years. And that’s not the only investing trend that’s on the rise. Another is impact investing. Put these two trends together, and you’ll find a bevy of investing apps available for purpose-minded people.
Traditionally, people invested for personal wealth without considering the impact of their choices on the environment and on others. Impact investing is defined as investments made in companies that aim to create a social impact while generating financial income. Impact investing improves lives and communities, and it ushers positive change into the world.
Apps can help make impact investing easy and accessible so that consumers can invest while supporting sustainability.
Millennials often feel that they don’t have enough money to invest in the stock market. As a result, financial experts have worked to demystify investing and develop simpler and more affordable ways to build portfolios. Apps that help millennials invest with modest amounts include COIN, Ellevest, Acorns and Motif. They feature optimal user interfaces, with some offering a low or zero minimum starting balance. Investment apps like these act as guidelines to help you handle your gross income. They not only offer investment choices, they also provide market updates and live feeds to help users make informed investment decisions.
Without further adieu, here’s a more in-depth look at my four favorite impact investing platforms:
Motif has a socially responsible mission: The app aims to simplify investment products and ensure that they are accessible across the world so that anyone can make a value-based investment. Motif requires a disciplined and strategic perspective — it offers low-cost investor resources coupled with transparency. Motif’s platform is customizable and features convenient technology and data use. One can disperse the money to different impact portfolios, such as:
- Sustainable Planet. This choice ensures that users invest in companies that embrace sustainability practices and reduce their carbon footprint, which slows down global warming and climate change.
- Fair Labor. Its second portfolio encourages users to invest in companies that promote fair working conditions, fair wages, job security and safe workplaces across the world. These companies seek to lower the number of poor and unemployed while promoting wealth creation.
- Good Corporate Governance. The platform also encourages users to invest in companies that embrace ethical tenets, such as fairness, accountability and transparency. Motif aims to create an impact by discouraging companies that use child labor. It also focuses on excluding companies that offshore labor and that expose their workers to poor working conditions and wages. Motif also works to reduce corruption across the world, because corruption increases the wealth distribution imbalance and creates poverty.