Social Mission

SOCIAL MISSION

As many U.S. military veterans return home, they are facing hardships that their communities are unable to support. Whether funds have been cut from local municipal budgets or frustrations rise with difficulties accessing promised VA resources, many veterans face these common issues nearly everyday. These challenges can lead to concerns including unemployment rates of former enlisted service members roughly three times those rates of their non-veteran peers and a suicide rate of roughly 22 service members per day.


We believe that the earnings of a successful business should be shared with the communities we serve. We have executed on this initiative through a 25% donation of our company’s ownership to a military veteran-focused nonprofit. For every dollar that our business earns, 25 cents can be reinvested back into those deserving military veteran nonprofits that are also part of the solution. To ensure transparency and accountability to our commitment, we are incorporated as a Public Benefit Corporation, the first on Wall Street, where our social mission must be audited each year by a third-party accounting firm.


We also live in a time where many are questioning the virtues and values of capitalism. Countless Americans feel left behind as our country’s wealth gap widens to historic levels. What is needed more than ever is a business with a mission that is ingrained to support those that are left behind. To accomplish this end, we specialize in public finance with a very seasoned and experienced team. We add value as a co-manager through a niche distribution effort, focusing on middle market institutional sales coverage that is often underserved in new issuances.


WADE FRANKLIN, Director of Operations

Wade is a 2005 graduate of the Naval Academy and served for 7 years as an Active Duty Naval Officer. In his service history, Wade completed deployments on the ground in Afghanistan and aboard ships serving in Operation Enduring Freedom. Wade is a serial entrepreneur with a track record of excellence after recently exiting a logistics business he founded immediately upon leaving military service. Our firm's Social Mission is led by Wade Franklin, who also served as Ben and Keith’s training officer (i.e. drill sergeant) at the Naval Academy.

How AVG is Different

Our Non-Profit Foundation Holds a 25% Ownership Stake in our Firm

Profits from our business are distributed to a non-profit (501c19) we created to help fund military veteran social efforts. Our value proposition to clients is, “the more business our firm does with you, the more social impact we can deliver to the military veteran initiatives that you (the client) care about.”

Our foundation is presently a 25% equity owner of the business. We believe that our company is more valuable with this significant non-profit ownership and gives us the flexibility to fund initiatives in the local communities of our clients.

Public Benefit Corporation

Many states such as Delaware have recently allowed innovative companies with a commitment for creating social good to incorporate as Public Benefit Corporations (PBCs). A growing number of companies such as Patagonia, Etsy, Kickstarter, and Jessica Alba’s The Honest Company, have incorporated as PBCs. AVG’s leadership believe its value proposition greatly aligns to that of a PBC and feel this corporate structure allows AVG to align itself to this growing corporate clientele. In reporting to its Board of Directors, the PBC must disclose its financial statements and its social impact statements to be audited by a third party firm.

Service-Disabled Veteran-Owned Business

After watching the horrifying events of 9/11, our CEO Ben Biles felt a call to action and volunteered to serve his country. Public service is deeply rooted in our company’s DNA. Besides hiring a handful of new veteran employees each year, we believe we have the opportunity to do more. Our firm has been designated as a Service-Disabled Veteran-Owned Business by the Department of Veterans Affairs Center for Verification and Evaluation as well as with New York State (NYS #181733) and as a Veteran-Owned Business by the National Veteran Business Development Council.
Share by: