Carey Morgan leaves New Century Trust for Livelihood, the financial advising company she's cofounded - Generocity Philly

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May 17, 2019 10:09 am

Carey Morgan leaves New Century Trust for Livelihood, the financial advising company she’s cofounded

Morgan and Megan Kiesel started their company because they believe charitable organizations and their employees aren't particularly well-served by the financial services industry.

Carey Morgan.

(Courtesy photo)

Carey Morgan, New Century Trust‘s executive director since 2016, will leave the private foundation in June to become a partner and financial adviser of the firm Livelihood, which she cofounded with Megan Kiesel, formerly of Clarifi.

“We started the firm when we realized that charitable organizations and their employees are often pretty poorly served by the financial services industry,” Morgan said to Generocity via email. “We thought we were uniquely positioned to influence that. Our initial focus is on providing affordable and approachable financial planning services for nonprofit employees, creatives, and others who live passion-driven lives.”

According to Morgan, Livelihood’s mission is to “redirect resources toward joy, stability, and social impact.”  She told Generocity that the company was built on the premise that financial planning should be informed by values and vision, a strategy that will permit small nonprofits and foundations to align their investments with their missions.

“Many leaders of charitable organizations are interested in making sure their dollars are not invested in companies that are undermining the core work they do every day,” she said, “but seem to struggle to find investment managers that speak their language.”

Prior to her work at New Century Trust, Morgan ws the director of financial empowerment at the City of Philadelphia, and earlier held positions at Greater Philadelphia Coalition Against Hunger, American Red Cross Southeastern Pennsylvania Chapter, and Invesco US.

New Century Trust, which works to build the economic and political power of women and girls throughout the Southeastern Pennsylvania region, announced it has named Farrah Parkes its new executive director. Parkes has worked for more than 15 years in the nonprofit sector.

Generocity will publish an interview with Parkes next week.

 

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