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Publication:FT Adviser

IFA to back ethical AE competitor

Virtuo Wealth Management hopes to plug a gap in the auto-enrolment marketplace with new pension. Virtuo Wealth Management, an IFA firm specialising in ethical investment, is looking to fill a gap in the auto-enrolment space with the launch of an ethical pension for companies.

 

In an interview with FT Adviser to be published later today (11 October), Virtuo managing director Scott Murray says he is in talks with multiple fund groups but has yet to secure the underlying funds for the venture.

 

Mr Murray has partnered with Tam Ethical, a subsidiary of discretionary investment manager Tam Asset Management. Tam plans to launch the ethical pension with Mr Murray acting as “ethical adviser”, helping to screen and monitor the underlying funds.

 

Tam is in discussions with two product providers to launch the new pension, which will also be marketed to other financial advisers.

 

Mr Murray believes an ethical pension fund will fill a significant gap in the market and will appeal to some companies more than a garden-variety scheme.

 

Such a pension could be especially suited to “green” businesses or those trying to strengthen their corporate social responsibility standards.

 

Mr Murray said: “Through [the National Employment Savings Trust] there is one ethical fund and I don’t think that is appropriate to a lot of businesses.

 

“If you take a company who specialises in sustainability you would think they would be plumping for a sustainable option.

 

“I don’t think there is a specific sustainable AE offering out there.”

 

The full interview will be published later today.

 

Mr Murray has partnered with Tam Ethical, a subsidiary of discretionary investment manager Tam Asset Management. Tam plans to launch the ethical pension with Mr Murray acting as “ethical adviser”, helping to screen and monitor the underlying funds.

 

Tam is in discussions with two product providers to launch the new pension, which will also be marketed to other financial advisers.

 

Mr Murray said: “What we would like to do is promote this to non-ethical advisers who don’t have any experience in this area.

 

“They can use this ready-made offering you can pull off the shelf. What mainstream financial advisers are going to find is more people asking about ethical investing.”

 

By Michael Trudeau

 

 

 

 

 

 

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