ESG
The ESG Phenomenon – UK's NOVA Wealth Obtains B Corp Certification; Cazenove, Scope
The latest developments in the ESG space.
NOVA Wealth
NOVA Wealth, a
tech-driven wealth service provider, has attained B Corp status.
This designation recognises businesses that meet the highest
standards of social and environmental performance and
accountability.
The organisation said it was recognised for its approach to
attracting under-represented talent to the wealth management
sector, as well as its aim of making quality financial advice
available to more people.
“It’s well documented that there is a significant lack of
diversity in all respects across our industry, which is to
everyone’s detriment. Diversity of thought and ideas breeds
better innovation and culture within a business,” Andrew
McMillan, co-founder and co-CEO at NOVA Wealth, said. “We
recognise that talent comes from all backgrounds. It’s not all
about having gone to university or the ‘right school’, some of
the most determined, empathetic, and entrepreneurial people we
have hired have come through non-traditional pathways.”
NOVA Wealth, which was previously called Octopus Wealth, was
incubated within the Octopus Group, the UK-based
venture responsible investor. NOVA Wealth – launched as
an independent business in 2023 – employs 70 people,
including 16 advisors.
Four years ago, NOVA Wealth launched a YouTube channel featuring
advisor James Shack, providing financial education. Its most
popular videos have surpassed a million views.
See here for this news service's WealthForGood Awards 2025.
Nominations are open, with a deadline of 20 March.
Cazenove, Scope
Cazenove
Capital has won a mandate to oversee the investment strategy
for Scope, a UK charity for disabled people.
Scope will invest in the SUTL Cazenove Charity Sustainable Multi-Asset Fund, established six years ago. It manages £2 billion ($2.5 billion) on behalf of its clients (as at 31 December 2024). The fund has recently announced its plans to adopt the FCA’s Sustainability Disclosure Requirement “Sustainability Focus” label.
“Our aim is to deliver a financially successful and sustainable investment portfolio, while benefiting from Scope's expertise to help Schroders meet its own ambitions for inclusion and diversity,” Emily Petersen, portfolio director, sustainability and impact, Cazenove Capital, said.
Approximately one in four people in the UK are disabled. Scope works with businesses to improve disability employment and attitudes in the workplace. In addition to their investment strategy, Scope will partner with Cazenove Capital and Schroders to include disability employment in discussions with the companies they invest in and explore other opportunities for working together.
