A new financial planning business is opening in Denver this week with a special focus on investing retirement funds in solar energy, wind power, fast electric cars and sustainable business. Denver Wealth Management will be the Renewable Energy Initiative’s first private partner, said TREI executive director Ken Beitel.
TREI is a nonprofit organization dedicated to increasing private-sector investment in solar, renewable energy and other forward-looking technologies, like electric vehicles. Zachary Bouck and Blair Braden are the creators of the new Denver Wealth Management firm, located in the trendy Highlands neighborhood northwest of the heart of the city. Bouck and Braden were the top traders at their previous firm, where there were more than 80 associates, Beitel said.
Their previous firm did not have the same focus on investing in renewable energy that Bouck and Braden will bring to their new business, Beitel said. He met the two when they were all presenting at a human resources conference about how businesses can open their 401(k) plans up and offer an option where employees will be able to invest a portion of their portfolio in solar and other renewable energy companies.
Most traditional 401(k) plans only allow employees to invest in more established stocks for companies with longer histories and higher trade volume. Since solar and other renewable and sustainable businesses are all relatively young, they usually don’t
qualify in traditional employer-sponsored plans. MORE …