Ethical financial advisers Switchfoot Wealth is the latest responsible finance company to be awarded the Good Egg mark from Good With Money.
The mark is the only accreditation in the UK designed to make it easier for consumers to find financial providers that use finance to benefit people and planet, as well as offering a good deal for their pockets.
Making sustainable financial planning the default
Launched in 2018, Switchfoot Wealth provides independent financial advice and wealth management services for private clients, businesses and fiduciaries. What sets it apart from others is its belief that “all financial planning should be sustainable financial planning.”
It shows clients the environmental and social impact of their money and supports them to make better long-term choices – for their own future and for the planet’s. The services it offers includes pension planning, life assurance, income protection, and investments/regular savings.
Switchfoot Wealth is also a certified B Corp – a growing group of future-focused companies that make up a global movement of people using business as a force for good.
Steven Day, Independent Financial Adviser at Switchfoot Wealth, said: “We’re delighted to have become a “Good Egg!” This external validation of our practices and mission to make sustainable finance the default, complements well with being B Corp certified. We look forward to the opportunities it presents to spread the word regarding sustainable financial planning.”
Switchfoot joins 8 other Good Egg companies. These are: Sugi, PensionBee, Triodos Bank, Ecology Building Society, EQ Investors, Thrive Renewables, Path Financial and Bluesphere Wealth.
The Good Egg screening report commends Switchfoot Wealth for:
- Understanding the needs and issues that older clients face. It also places focus on vulnerable clients, such as previous victims of pension scams and potential future victims of LPA (Lasting Power of Attorney).
- Making sustainable investing the default, rather than an offshoot of its business. Switchfoot considers climate impact and risk on a client’s entire financial plan alongside investment choices. As part of a Central Investment Proposition (CIP), which is aligned to the Paris goal of limiting global warming to 1.5C, it doesn’t ask clients to ‘opt in’ but to ‘opt out’.
- Not having a lower band of wealth for the clients it will work with.
What’s in a Good Egg?
The Good Egg mark is based on how well a provider measures up against a range of different environmental, social and industry impact factors, taking into account the size and history of the firm and its performance. Ethical Screening produces a report on each provider applying for the mark. Not all companies applying for a Good Egg will be granted one.
A panel of ethical finance experts then provides a further level of rigour before the Good Egg is awarded. The advisory panel includes John Fleetwood, sustainable investing consultant; Huw Davies, senior finance adviser at Make My Money Matter; Fionn Travers Smith, ex-Move Your Money campaigner, financial inclusion manager at Phoenix Group, and Charlene Cranny, sustainable finance expert at Economy of Good and ex-director at Good Money Week.
Lisa Stanley, co-founder of Good With Money, said: “A Good Egg is a mark that can only be used by companies like Switchfoot Wealth that are able to prove their mission to make a positive impact for the environment and society.
“Look for a Good Egg if you want to align your money with your morals and use companies that are doing the right thing.”
