A platform has launched that lets people support charities through their financial investments.
Greenfinch is a white label wealth management platform from TAM Asset Management that enables people to invest in a range of mainstream and ethical portfolios, either directly via a general investment account (GIA) or via an individual savings account (ISA).
Each portfolio and product is part of TAM Asset Management’s You Give We Give (YGWG) donation scheme, which gives investors the opportunity to donate a percentage of their annual profits to a charity of their choice. Investors are also given the opportunity to make an initial donation upon opening their accounts.
Investors opt to invest in an ethical portfolio using the Greenfinch tool, and then opt in to the You Give We Give Scheme. They then select the charity they would like to benefit, which can be any charity they choose. TAM Asset Management also matches the donation with an equal percentage from their annual fee, and manages the portfolios and products.
So far, £53,000 has been raised for charities through Greenfinch. Charities can promote the platform to their supporters. The Archway Project, Bobath Scotland, HEART UK – The Cholesterol Charity and Willow Foundation are among those that have partnered with the platform, providing their members with access to discretionary investment portfolios, whilst also giving them the opportunity to benefit their chosen charity in the process. However, any charity can benefit from donations with the decision to give coming from the investor.
Charlotte Hoare, Fundraising Manager, HEART UK said:
“It’s a brilliant idea and lets investors choose what profit percentage they would like to donate to their chosen charity. We’re always looking to expand our fundraising channels, and this is a great new area for us.”
Lester Petch, CEO of TAM Asset Management, said:
“The rise of online wealth management has opened up the market to a new generation of investors. However, our service is 100 percent non-advised, which means there’s minimal regulatory risk. YGWG is a totally unique way for charities to engage with their supporters and raise funds.”
“It allows investors to combine their environmental and social considerations with strategies designed to deliver long-term capital growth. We are confident that this approach will provide ethically minded investors with the investment solutions they have been looking for, while also opening up fruitful new fundraising opportunities for our charity partners.”
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