Nearly nine in ten independent financial advisers (IFAs) offer advice on green and ethical investments, a new study has found. Research commissioned by National Ethical Investment Week (NEIW) and the Association of Independent Financial Advisers found 87% of IFAs will offer advice to clients on investing their money ethically. This is compared to 70% of [...]
The financial crisis has not changed the attitude of investors towards green and ethical investments, new research has discovered. In a poll of financial advisers just 18% said the economic downturns has impacted on the attitude of clients towards green and ethical investment. This is compared to 85% of advisers who said the crisis has [...]
In the run up to National Ethical Investment Week (NIEW) financial advisers are being offered the chance to receive training in ethical finance. At a series of seminars in London and Southampton, experts will explain how financial advisers can use money to make a difference. The events, hosted by the UK Sustainable Investment and Finance [...]
Investors opening a Virgin Money Climate Change ISA might expect their money to be invested in firms carefully screened for their ethical credentials. In truth, however, their savings could be invested in arms manufacturers, mining firms, tobacco companies, and oil giants. This shocking discovery was made by ethical business blogger Toby Webb. “I had expected [...]
Australian Ethical Investment (Aus Ethical) has launched a new property fund that invests in eco-friendly buildings. The Aus Ethical Property Trust only invests in energy efficient buildings with a minimum 5-star Green Star rating. Investors in the fund should expect long-term capital growth and a moderate income stream, the company said. The fund aims to [...]
The Church of England has spoken out in support of hedge funds and has expressed concern that EU proposals to tighten hedge fund regulation could damage its investments. The Church Commissioners, who manage the Church’s £4.4 billion assets, said the European Union directive would limit their ability to make money for the Church. In a [...]
A new website launched this week enables businesses, charities, financial advisers and investors to find out about ethical investment events happening in their area. The events portal of the National Ethical Investment Week (NEIW) lists ethical investment conferences and training events happening across the UK throughout Ethical Investment Week. Events include seminars on green and [...]
Ecclesiastical Investment Management was named the Best Ethical Investment Provider at the 2009 Investment, Life & Pensions Moneyfacts Awards. Sue Round, EIM’s head of investments, said the company was “thrilled” to be awarded the accolade. “Not only does it reflect the excellent fund performance and high levels of client service we have achieved over the [...]
The UK government is set to invest £5 million in socially responsible businesses. Angela Smith, charities minister, said the money would provide “the missing link between social enterprise and finance.” Smith announced the investment at this month’s Social Investment Conference, and said she fully supports plans for a Social Investment Wholesale Bank. “I am keen [...]
Shetland’s oil wealth will continue to be invested in tobacco firms, arm manufacturers and companies accused of violating human rights. Trustees of the Shetland Charitable Trust, which distributes the Scottish Isle’s oil wealth to community projects, voted against a pilot scheme to invest £500,000 in ethical funds. Rick Nickerson, the trustee who proposed the scheme, [...]
Financial advisers are increasingly likely to recommend funds that invest in climate change, according to new research by Pictet Funds. The fund distributor found the number of advisers encourage clients to invest in climate change funds is set to double. Around one in eight (13%) of those polled said they had sold climate change funds [...]
The Co-operative Bank’s customer numbers have increased significantly in recent years because of its ethical investment policy. Since 1992, the bank’s commercial lending has grown from £571 million to £4.4 billion in 2008 – an average 14% per year growth. Between 2007 and 2008 it increased lending to individuals by 15%. David Anderson, chief executive, [...]
Phone fraudsters stealing bank card pins
Fraudsters using a phone scam to trick bank card holders into revealing their pin numbers stole £750,000 in the first four months of this year. This is the same amount stolen through this scam in the whole of last year. The fraudster telephones a bank customer, often someone elderly or vulnerable, telling them that their [...]
FSA rules out ban on interest-only mortgages
Speculation that the Financial Services Authority would ban interest-only mortgages as part of its Mortgage Market Review has proved to be unfounded. However, lenders will be required to monitor the performance of the investment product taken out by the customer to repay the mortgage at the end of its term. Investments are performing poorly because [...]
Bank of England may end free in-credit banking
A director of the Bank of England has warned that official intervention could be considered to end the ‘dangerous myth of free in-credit banking’. Andrew Bailey has already spoken out against free banking in relation to the mis-selling of financial products. In a speech made available to media, he reiterated his concern, saying that it [...]
Bank of England votes against more economic stimulus
The Bank of England voted against a further round of quantitative easing, at its latest Monetary Policy Committee (MPC) meeting. Just one member, David Miles, voted for further asset purchase to encourage growth in the UK economy, while the other eight members voted to keep the Bank’s quantitative easing programme steady at £325bn. The minutes [...]
Catalogue debt growing says helpline
Calls from people concerned about their debts with mail order catalogues accounted for more than 12 per cent of all calls received by National Debtline last year, compared with just 8 per cent in 2007. More people were concerned about catalogue debt than about payday loans, mortgage or rent, according to the Money Advice Trust [...]
Homeserve faces mis-selling investigation
HomeServe, which provides emergency insurance cover and domestic repairs to households in the UK, is to be investigated by the Financial Services Authority (FSA). Issues over the possible mis-selling of household emergency policies were uncovered last October during an internal review at the Walsall-based company. Homeserve’s call centre staff were found to be selling ‘Complete [...]
OFT warns Wonga over debt collection methods
Payday loan company Wonga used aggressive and misleading methods to collect debts from customers, the Office of Fair Trading (OFT) has found. Wonga sent letter and emails to certain customers suggesting they had committed fraud and threatening to report them to the police if they did not act in the way Wonga suggested. The company [...]
NS&I re-launches investment account
National Savings & Investments (NS&I) has re-launched its Investment Account at a higher interest rate than it previously offered. The account now offers 0.75 per cent before tax, compared with between 0.2 and 0.3 per cent previously, depending on the account balance. Deposits and withdrawals on the account can no longer be made at Post [...]
Rightmove reports property downsizing trend
Two in five property owners planning to sell in the next year are planning to ‘trade down’, compared with one in four who plan to ‘trade up’. A survey by property website Rightmove found that moving to a smaller home is the main reason for moving in nine out of the ten regions in the [...]
More people failing to save for retirement
The proportion of people with no pension savings has grown from 20 per cent to 22 per cent over the past year, according to Scottish Widows’ latest survey. The pension provider surveyed 5,200 adults in the UK, aged 30 or over, and earning at least £10,000 a year, for its annual review of pensions. Ian [...]
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