PROVIDENCE – The Bible says the love of money is the root of all evil. So, where does that leave fundamentalist Christian investors?
A central Florida-based firm contends it has found a way around that conundrum with what it calls “Biblically Responsible Investing,” or BRI.
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Timothy Plan Ltd., a mutual funds investing service out of Maitland, Fla., promises it can help investors achieve their financial goals while investing in “a biblically and morally responsible manner.”
That means investing is off limits in companies associated with abortion, pornography, alcohol, tobacco, casino gambling and what it defines as “anti-family entertainment” and “alternative lifestyles,” the firm said in a recent statement.
The firm said it researches each company thoroughly to ensure its business model doesn’t conflict with its clients’ Christian values and morals.
The idea has been catching on, according to the firm, which started the BRI approach in 1994 and, within the past year, reached $1 billion of assets under management.
According to the firm’s website, the BRI concept was founded by Arthur Ally, then president and owner of Covenant Financial Management, who was initially challenged to design a retirement plan for pastors of independent churches that would complement “the Christian world-view of evangelical pastors.”
The firm offers a few words of caution: Because the Timothy Plan funds will not invest in certain securities that it excludes for moral reasons, it states “the funds may be riskier than other funds that invest in a broader array of securities.”
Scott Blake is a PBN staff writer. Email him at Blake@pbn.com.
