Positivly Review: Get Matched With an ESG Financial Advisor (Based on Your Financial Personality)

Positivly is a platform that offers to match you with a financial advisor based on your financial personality. It emphasizes impact and environmental, social, and governance (ESG) investing. Find out if it’s a good fit for you.

SustainFi September 16, 2021

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Summary

  • Positivly can match you with an ESG-focused financial advisor for free
  • All you need to do is fill out a 3-minute quiz
  • Positivly also recommends a few funds that match your goals

Pros

  • Innovative approach to matching you with advisors through a quiz
  • Database of advisors focused on ESG investing
  • Free service

Cons

  • You still need to do your diligence on the advisor you are considering
  • Free investment ideas are limited and consist only of sponsored funds

What is Positivly?

Positivly is a platform that matches you with investment ideas and financial advisors based on your financial personality. It lets you:

  • Discover your financial personality
  • Receive personalized investment recommendations
  • Get matched with compatible financial advisors

The Positivly Financial Personality Quiz

Positivly revolves around the financial personality quiz.

The quiz is not like a robo-advisor quiz. A robo-advisor assessment asks you how much risk you want to take and what your time horizon is and then recommends a portfolio.

🔔 Learn about investing with a robo-advisor.

Instead, Positivly asks you about the impact you want to make with your money. Their assessment takes about 3 minutes and consists of 21 questions.

Here are some of the questions:

  • I would only work for a company whose vision and purpose I agree with. Do you agree or disagree with this statement?
  • How much loss are you prepared to take, over the next year, with a view to future gains?
  • What percentage of your annual income do you contribute to philanthropic causes?
  • How often do you discuss your investment views and performance with family and friends?
  • Do you believe that investing with an ethical, social or environmental lens hurts financial returns?
  • In the past month, how often have you paused to reflect on the trends shaping the world around us?

You are also asked to provide the approximate value of how much you have to invest. When you’re done, you are offered a portfolio review with an advisor who has matched your financial personality.

The PSTV Score

Your financial personality score is based on the PSTV framework, which stands for:

  • Purpose
  • Security
  • Touch
  • Viewpoints

Here is an example of what a PSTV score looks like:

For example, if Purpose dominates, you are likely a good candidate for impact investing.

Positivly investment recommendations

Positivly suggests investment ideas based on your personality. But, unlike a robo-advisor, they don’t tell you how much to invest in a particular fund. You need to do your own work on asset allocation or, as they suggest, you can work with a financial advisor.

The funds Positivly recommends are sponsored and tend to be smaller funds. You can buy them through any major broker, though if you click on the Buy button you are redirected to the Magnifi site, which was founded by one of the Positivly co-founders.

Compare robo-advisors with sustainable options

Acorns ESG (Sustainable) Portfolio

Socailly Responsible Investing Pies

Socially Responsible Personal Strategy

Fees

$3-$5/month

Fees

$0 ($125 for M1 Plus)

Fees

0.49%-0.89%

Minimum

$5

Minimum

$100

Minimum

$100,000

Positivly financial advisor matching

Positivly’s main goal is not to recommend you funds but to match you with an advisor.

After you’re done with the test, Positivly will offer a free portfolio review with an advisor who matches your financial personality.

While all financial advisors must be registered with the SEC, you should still do more diligence if you plan to have someone else manage your money.

🔔 Find out how to do diligence on a financial advisor.

Who is behind Positivly?

The platform was founded by Iain Gillespie and Dr Vinay Nair. Both have backgrounds in finance.

Is Positivly free?

Positivly is free to investors, but advisors listed on the platform pay a monthly fee starting at $250.

You still need to pay the financial advisor if you use their services. Rates and how advisors are paid vary.

🔔 Learn more about working with a sustainable financial advisor or check out the list of top ESG financial advisors.

How does Positivly make money?

Some of the funds Positivly recommends are sponsored. Advisors who use the platform to get matched with potential clients (like you) pay a fee.

Is Positivly safe?

You don’t need to disclose any personal information beyond investable assets when you look for an advisor through Positivly.

However, it is not clear how much diligence they do on the advisors on the platform. You should still do your diligence on the advisor, including checking their credentials and understanding how much they know about sustainable investing.

💰 Takeaway

Positivly is one of the few services that can match you with advisors focused on ESG and impact investing. However, you still need to do your diligence and interview multiple advisors.

🔔 Don’t need a full-fledged financial advisor? You can work with robo-advisors like Acorns or M1 Finance.

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