Advice businesses across the UK have signed up to CCLA Investment Management's AdviserAction initiative.
As previously reported by FT Adviser, the initiative, which started with eight member advice companies, was set up in 2023 to help businesses engage with listed companies on sustainability issues.
AdviserAction now has 16 member firms, which between them have more than £8bn in assets under advice.
The initiative was the brainchild of CCLA, the specialist fund manager that took form in 1958 as the Chuch of England Investment Fund and in 1987, became the Churches, Charities and Local Authorities Investment Management limited company.
One of the core tenets of CCLA is its emphasis on engagement to drive change at board level with potential and investee companies.
AdviserAction was set up to help advice businesses - often unable to have the sort of dialogue and engagement with listed companies that large investors can have - engage on sustainability issues.
According to Jasper Berens, head of client relationships and distribution at CCLA, the organisation was set up at a critical time, with the FCA’s publication of sustainable fund labels that highlight the value of effective corporate engagement, the anti-greenwashing rules, and the introduction of consumer duty.
The new joiners are:
- Ethical Futures
- Foster Denovo
- Henson Crisp
- Holden & Partners
- Kingsfleet Wealth
- Prydis Wealth Scotland
- TAM Asset Management
- Unburdened Solutions.
Clémence Chatelin, ESG integration manager at CCLA, said: “Engagement is one of the most important ways our industry can drive progress at investee companies, so it is hugely encouraging to see more advisers join forces to tackle systemic sustainability issues.
"It is clear that advisers want to be involved in sustainability and we are excited to pool this growing group’s resources, expertise and enthusiasm to take on effective, system-wide engagement on the issues that matter most to clients.”
Berens added: "This is a timely initiative that allows advisers to play an active role in supporting their clients to use their money to do good.
"We have already seen a lot of traction in the market and we hope this coalition will go far in driving positive change by harnessing the so far untapped influence of advisers.”
Reasons for joining
One of the reasons for joining AdviserAction was so that clients could see their adviser practices what they preach, according to Julian Parrott, partner at Ethical Futures.
He said: “As ethical financial advisers, we are keen to show our clients that we practice what we preach.
"We think it’s important to get involved with projects that can help make a meaningful difference to not only the financial services sector but the world around us.”
Another reason is the knowledge and expertise that such a relationship can bring to advisers.
Colin Low, managing director, Kingsfleet Wealth, said: “Kingsfleet wants to lead the way in which adviser firms help their clients to fully understand sustainable investing.
