The Duke and Duchess of Sussex have become “impact partners” and investors at sustainable investing firm Ethic, with Meghan describing investing as a “luxury” that “sounds so fancy”.
Harry and Meghan gave a joint interview to The New York Times’ Dealbook, with the former actress-turned-royal saying investing had not previously been part of her “world”.
The pair were introduced to tech-driven asset manager Ethic by friends, with the duchess saying Harry had been saying for years about how he wanted to invest sustainably.
Meghan 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.”
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?’”
The pair signed major deals with Netflix and Spotify, thought to be worth in excess of £100 million, after quitting as senior working royals and moving to the US in a quest for personal freedom and to earn their own money.
The company confirmed that Harry and Meghan had become investors in Ethic, and also have investments managed by Ethic as well.
The firm screens businesses and sectors based on social responsibility criteria, including racial justice, climate and work issues.
The Sussexes hope their involvement will encourage young people to be conscious of the sustainability of their own investments.
Harry told the New York Times: “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.”
The couple’s Archewell website highlighted their latest business venture, linking to the New York Times’ story which featured the headline “Harry and Meghan Get into Finance”
The Queen’s grandson Harry and former Suits star Meghan acknowledged that not everyone could afford to invest money.
“When we invest in each other we change the world…” the Archewell site said.
“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.”
Ethic said it was thrilled to be welcoming the couple.
Harry and Meghan “share a lot of values with us, and we suspect, with many of you as well.
“That’s why we’re so excited that they’re joining us as impact partners,” a statement on its website said.
It said the Sussexes wanted to “shine a light on how we can all impact the causes that affect our communities”.
“They’re deeply committed to helping address the defining issues of our time—such as climate, gender equity, health, racial justice, human rights, and strengthening democracy and understand that these issues are inherently interconnected,” it added.
“So much so, in fact, that they became investors in Ethic earlier this year and have investments managed by Ethic as well.
Ethic, which was founded in 2015, has 1.3 billion dollars under management and creates separately managed accounts to invest in social responsibility themes.
It aims to empower wealth advisers and investors to create portfolios that align personal values with financial goals.