The first discretionary wealth management firm within the UK dedicated exclusively to social, impact, and responsible investment has received FCA approval.
Tribe Impact Capital LLP will look at how clients’ values align with the United Nations Sustainable Development Goals (SDGs) framework.
The wealth management firm will then advise on strategic asset allocation and investment selection based on these values.
Bosses claim the wealth management business will go further than traditional negative screens to focus on positive selection of responsible, sustainable and impactful investments.
These will include direct bonds and equities, through to high impact private equity investments.
Tribe has been set up as partnership between investment company LGT Vestra LLP, Amy Clarke, former head of private clients at the Charities Aid Foundation, Lizzie Scott, former head of marketing at Vestra Wealth, James Lawson, former founder of Ledbury Research, and Harry Catchpole, former manager from JP Morgan.
David Scott, chairman of LGT Vestra LLP, will chair the new venture.
Clients are looking to achieve a greater level of positive impact with their wealth.David ScottMr Scott said: “It is clear that many clients are looking to achieve a greater level of positive impact with their wealth. The industry needs to adapt to meet these requirements.
“Creating Tribe as a separate business, offers the flexibility to provide clients a new style of wealth management outside of the restrictions and constraints of an already established organisation.”
Ms Clarke said: “As an industry, wealth management has a huge role to play, and while we acknowledge those addressing this growing investment opportunity, we feel a new approach is needed.
“One that focuses exclusively on wealth stewardship and creation that aligns with values and delivers long-term positive impact, for everyone. That’s why we established Tribe.
“By managing client portfolios with a focus on sustainable and impact investing we can assist clients in going beyond singular financial growth to sustainable growth against values and impact as well as financial.”
emma.hughes@ft.com
