The MiFID ESG challenge
Clients who received an ESG proposal in the last 12 months
38%
It’s worth noting that advisers have proactively discussed ESG with their clients, particularly in context of changes to MiFID II regulations which will come into force in 2022. In fact, compared to last year, a slightly higher proportion of European investors say their adviser recommended ESG products (38% vs. 34% in 2020). Younger generations of investors are more likely to report their adviser reaching out to them with ESG product recommendations (55% for Generation Z and 53% for Millennials). This indicates advisers may have been focusing their ESG outreach efforts on younger investors.
34%
2020
2021
Q14. In the last 12 months, has your financial adviser recommended any ESG products?
Changes to MiFID II 2nd of August 2022
Despite the increase there is still room for significant improvement. 62% of clients have never received an ESG proposal. As mentioned before, on August 2022 the new MiFID II regulation will require financial advisors to assess the sustainability preferences of their clients and provide them with MiFID-eligible solutions.
38%
34%
Considering the key role advisors play, it’s important for them to proactively prepare for this next ESG challenge.
2020
2021
2022
19
2021 Nordea ESG Survey
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