Wealth manager launches with LGBT specialism

Wealth manager launches with LGBT specialism

A wealth management firm which specialises in investment backing rights for the lesbian, gay, bisexual and transgender (LGBT) community launched this month.

Equality Capital aims to ensure clients' money is being invested in markets which believe in equal rights for the LGBT community.

The newly-launched firm aims to find new investment opportunities that make positive differences to the lives of LGBT people around the world.

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The team screens markets on how ethical they are using various criteria, including marriage equality, discrimination laws in employment, adoption rights, military service rights, and legal punishments such as the death penalty for being LGBT.

Charlie Nicholls, managing partner at Equality Capital, said the company’s social commitment doesn’t hinder the ability to earn attractive returns for our clients.

“In fact, it improves them as there are many opportunities in LGBT-friendly markets.”

Mr Nicholls said wealth managers often don’t appreciate that some global portfolios can be investing in regimes and organisations that hinder the freedoms and human rights of LGBT people.

“We are exceptionally lucky here in the UK that our democracy has chosen equality and that our rights are protected by the law.

“However, there are many places around the world where this is not the case and by making intelligent, well-informed investment decisions, we can ensure that we are not inadvertently supporting areas that contribute to the suffering of LGBT people.”

Equality Capital is currently offering investors a complimentary online portfolio review.

Simon Torry, chartered financial planner at SRC Wealth Management, said: “Although I applaud the objectives that this new firm promotes, I can’t help but question the motivation behind their specialism.

“Whether a person is LGBT should surely be irrelevant when it comes to financial advice? "

He also suggested a regard for ethical investing should be raised with all clients, regardless of their sexual orientation.

“Are they just trying to capitalise on the growing LGBT?  I hope not.”