Progressive Asset Management forms alliance
December 21, 1998
Progressive Asset Management, which claims to be the first independent full service investment firm specializing in socially-responsible investing, and Paradox Holdings, the owner of Financial West Investment Group, have announced they have signed a letter of intent to form a strategic alliance. FWG is a broker/dealer with 60 offices and 300 registered representatives.
Linking with Progressive Asset Management will give Financial West access to the rapidly expanding field of socially responsible investing. According to a 1997 study by the Social Investment Forum, total assets under management in socially-screened portfolios grew from $162 billion in 1995 to $529 billion in 1997, a 227% increase.