“ESG - Environmental, Social and Governance investing is one of the most talked about subjects in the market.”
Daniel Johnson, SVP, SS&C explains, “Responsible investing, the precursor to ESG investing, can be traced back to the 18th and 19th century and ethical investing pursued by religious groups such as the Methodists and Quakers, who avoided investments connected to alcohol, tobacco, slavery and gambling.
This practice widened with socially responsible investing in the 1960s and 1970s by university endowments that led to the exclusion of investments in industries such as tobacco and weapons and companies involved with countries such as South Africa.
With the rise of social media, more and more companies are under public scrutiny and the spotlight has now turned on those that invest in them.”
Why is it important?
“In 2004 the United Nations global compact published the whitepaper “Who Cares Wins” and was the first to use the term "ESG".
This led to the 2006 UN Principles for Responsible Investing (UN PRI) that now has over 3,000 signatories that manage more than $3 trillion in assets.
With so much money controlled by responsible investors, it’s not surprising that investors are expecting more.”
FS not an ESG beauty!
The pre-pandemic financial services industry was unlikely to win top-prize in any ESG beauty contest with mountains of paper and advisers driving millions of miles to see clients.
During the lockdown, advisers have probably had more face-to-face time with clients than ever before without leaving their home.
There have been significant cost savings, efficiency gains and an improvement in the work/life balance. Productivity is up, cost is down.
And not before time the industry has in large part accepted the need for digital signatures. Using eSignatures firms can complete processes that took weeks in hours.
“We onboarded a client from Australia in 24 hours, which would have taken weeks before moneyinfo.”
Andrews Gwynne, Private Wealth Management
Are you still printing paper reports?
With a moneyinfo branded app you can deliver your paperwork to your clients securely without any printing. You can know when your client’s read their report, and request an eSignature(s). All the paperwork is automatically filed for your client and accessible whenever they need it.
Your regular reports can be delivered automatically from your portfolio management system, back office or platform. The report is delivered securely and filed automatically. The client receives a push notification on their phone and you know when the client has opened the report providing you with full regulatory compliance.
Digital enhances your ESG Credentials.
You may have clients who still insist on receiving paper copies but when you explain the benefits of receiving everything electronically both the increased security and saving the planet, most clients can see the benefits.
“One particular client suggested he loved getting his paper copies but acknowledged he never looked at it beyond an initial glance.”
Neil Wattam. co-founder, Wattam Kirby Mee.
Our kids won’t thank us if we go back to the way things were. They’ll be picking up the pieces of our environmental waste long after us. Stop and think before you print or jump in the car to visit your client.
“Our responsibility to society means a responsibility to the planet. We’ve cut down on travel and we’ve printed 75,000 fewer pages.”
Neil Moles, CEO of the Porgeny Group
Email is not a solution.
Your client has nowhere to store your email so they print it and put a copy in their filing cabinet. You’ve passed the ESG buck, done nothing to help your client manage their paperwork and dramatically increased the chances of your client falling prey to fraud.
Who Cares Wins!
All businesses will come under increased scrutiny from their clients and from government. Those that succeed will be those who demonstrate they care with action.
A moneyinfo portal will dramatically reduce your carbon footprint, enhance your client experience, save you money and give you more time.
To see how moneyinfo can help your business click here to arrange a discovery call.