2021 ESG Survey

Are advisors ready for the MiFID and ESG challenge?

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2021 ESG Survey | Executive Summary



On the 2nd of August 2022, MiFID and sustainability regulations will require European financial advisors to discuss sustainability preferences with their clients. A new Nordea Asset Management survey found that despite 71% of investors planning to increase their ESG allocation over the next year, 62% have not received an ESG proposal from their financial advisor in the past 12 months. We gathered the views of 1,200 European individual investors from Germany, Spain, Italy, France and Switzerland. All survey participants currently use a financial advisor. The findings suggest that many financial advisors have not yet fully embraced the ESG opportunity in the context of the upcoming regulation.

Clients now recognize sustainability as a financial risk

89% consider sustainability a challenging issue for society
77% believe their investment decision could make a difference in creating a more sustainable society
69% are aware that challenges around sustainability can impact their investments

ESG clients are hungry for more

76% have increased their ESG investment in the past 12 months
72% are satisfied with the performance of their ESG investment
71% plan to increase their ESG allocation over the next 12 months

Climate change is still in focus but social challenges are the next trend

63% consider global warming to be their primary concern
55% believe climate change will be the most investable megatrend over the next 5 years
45% of Gen Zs selected human rights as the most investable megatrend over the next 5 years
(only 34% chose climate change)

Advisors play a crucial role, but they haven’t kept the ESG – MiFID pace

73% identified their advisor as their main source of ESG information
96% of investors trust that advisors know about ESG
62% has never received an ESG proposal from their advisor. With new changes to MiFID II coming into force next year, this is a huge opportunity

Advisors should up their game to be ready for the new MiFID and ESG challenges

39% of clients surveyed identified a lack of knowledge and expertise as the greatest hurdle to ESG investing
81% say they need clearer and simpler explanation of ESG products
73% want new ESG products which, according to the new regulations, must be MiFID-eligible

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