Welcome to the Financial Advisor Success Podcast, where you go behind the scenes with

financial planner, speaker, and consultant Michael Kitsis to hear stories of how leading financial

advisors navigated the inevitable challenges that arise on the path to success and get

insight from leading industry consultants about how to break through to the next

level in your advisory business. And now here's your host, Michael Kitsis. Welcome, everyone.

Welcome to the 279th episode of the Financial Advisor Success Podcast. My guest on today's podcast is

Erica Karp. Erica is the chief impact officer at Pathstone,

an independent RIA based in Engleward, New Jersey, that oversees 35 billion in assets under management

for few hundred ultra-high net worth households. What's unique about Erica, though, is how she and her

firm are incorporating sustainable investing by utilizing their own internal ESG analysis to align ultra-high net worth

clients' rather sizable amount of capital with their own values. In this episode, we talk in depth

about how Erica and her firm utilize environmental social and governance analysis to find the

intersection between investments that they expect to be sustainable and to produce strong investment

returns. How Erica focuses on the factors of intentionality, additionality, and measurability

to ensure the impact that their investment decisions align with clients' values and objectives,

and how Eric and her firm use manager due diligence discussions and their own thematic research

to better identify

managers that can fit with and then be held accountable to the firm's investment standards.

We also talk about how Erica was inspired to begin her own firm after becoming frustrated

with the relatively slow place that her prior firm was not quickly enough recognized in this

emerging shift towards sustainable investing. How Erica's confidence

in her abilities was juxtaposed with the intense pressure of putting up her own capital to get

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