The rise of ESG in wealth management.
How are ESG issues impacting the wealth management sector today? What has been achieved so far, what are the opportunities and threats, and what is still to be done?
ESG and sustainable investing around the world. A look at the new normal in wealth management.
Prior to the COVID-19 pandemic and the 2020 market crash, ESG investing was followed by many clients who wished to direct the way that their portfolios were invested, driven by a desire to positively influence Environmental, Social and Governance (ESG) progress. Investment firms considered some of the ESG factors as part of their basic company analysis, with some firms going further, focusing in depth on ESG factors and developing a range of ESG investment approaches.
New York City, September 21, 2021 – corfinancial®, a leading provider of specialist software and services to the financial services sector, announces today that after a highly competitive evaluation process the Department for International Trade (DIT), alongside the City of London Corporation, The Investment Association, and the Green Finance Institute, has selected BITA Risk® (part of the corfinancial group), and ten other UK-headquartered FinTech companies specializing in ESG and #sustainability to join a virtual trade delegation to an international climate summit in New York during September 2021.
The UK Department for International Trade is partnering with Climate Week NYC for a series of events concerning climate change from September 20th to 30th. The DIT will be showcasing BITA Risk’s award winning BITA WEALTH® software during the trade mission. BITA Wealth delivers a full spectrum of ESG Management capabilities to the advisor and investment manager.
A DIT spokesperson said: “These FinTechs have developed ground-breaking products and services that are already helping companies, investors, consumers, and regulators around the world overcome key challenges in ESG adoption.” Additionally, Daryl Roxburgh, President and Global Head of BITA Risk will be taking part in a roundtable discussion hosted by Rt Hon William Russell, Lord Mayor of London, on the future of financial services innovation as it applies to ESG. This roundtable will bring together FinTech experts from the UK and the US as well as ESG leaders in banking and asset management.
“ESG data, including carbon emissions, is key to investment management, whether viewed from client preference or investment risk and opportunity perspectives. Managing the complexities of this data and delivering bespoke, mass-customized solutions requires good FinTech. We are proud to be helping the transformation in investment transparency and are delighted that BITA Risk has been selected by the DIT for this historic event,” says Daryl Roxburgh.
For more information on Climate Week NYC, please click here
Meeting the needs of ethically aware investors requires a rethink, argues Daryl Roxburgh, President and Global Head, BITA Risk® in this white paper from The Wealth Mosaic.
As clients take more interest in how their capital performs and the wider impact of their portfolios on society, investor demands are only going to grow. Effective software that can automate these complex processes lies at the heart of this mission.
Our BITA Risk solution is helping successful wealth management businesses to not only compete, but to excel in this area.
BITA Risk built its reputation on taking complex risk and portfolio data and making it highly accessible within its efficient portfolio management applications. Now it has applied this approach to ESG (Environmental, Social and Governance) investment, automating many manual steps through exception management and integrating key data as part of the client profiling and investment processes.
Charles Stanley’s COO, Michael Bennett, commented: “BITA ESG Manager has taken the complexity of ESG factor data and presented it with such clarity that it can be efficiently managed and monitored across large numbers of our clients, forming an integral part of our investment strategy.”
Charles Stanley’s investment managers will benefit from detailed visualisations, helping them to understand exposures, check preference conflicts and assess the impact of ESG-driven changes on risk, yield and return.
Daryl Roxburgh, President and Global Head, BITA Risk: “Recognising a client’s ESG preferences and understanding asset exposures are key to effective portfolio management and analysis. Using exception management to identify any conflicts is the most efficient way of keeping a portfolio within mandate and this, together with innovative client reporting, is how BITA ESG Manager can manage the process with flexibility and on the scale required by Charles Stanley.”
Ian Murrin, CEO and Founder, Digiterre, said: “We are delighted to collaborate with corfinancial to help build a technology solution for investment managers who increasingly demand the integration of ESG factors into their investment processes. We look forward to providing advanced software and data engineering services to complement corfinancial’s deep domain knowledge and expertise in investment management. The end result is products that are both technically proficient and transformative in nature.”
corfinancial has been significantly investing in its flagship solutions in recent years, acknowledging that the software world needs niche firms like Digiterre with cutting edge skillsets that can help place a product ahead of the changing market demand.
Bruce Hobson, CEO, corfinancial, said: “Digiterre’s specialist data transformation skills and our understanding of what wealth management firms require in order to reduce manual processing and improve the client experience is a powerful combination. We look forward to further projects with Digiterre to ensure that our products are forward-looking and best-in-class.”
Daryl Roxburgh, President & Global Head, BITA Risk joined a Compeer panel of ESG experts and industry decision makers to speak on ‘A practical approach to ESG management for Private Clients’.
Please click on the image to see a video recording of the event.
In this issue you will read about our proactive approach in providing consistent and uninterrupted service to our clients during lockdown, while investing in the future with exciting product developments across our portfolio of solutions.
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