At Altor we have believed for a long-time that companies, as a minimum, should do no harm but can also be a force for good in society. Governments have a huge role to play in changing the world for the better and tackling some of the problems that we are currently facing. This does not let Companies off the hook though and it is our belief that they should all report their impact and the best amongst us should have a purpose beyond profit making.
As a partnership we have been striving to improve what we do in five key areas; Community, Customers, Workers, Environment and Governance. We have been working with the B Corporation organisation to get this formally assessed for the last year and we are very proud to be able to announce that we have finally achieved B Corporation status. As an indication of how rare this is, there are only 6 other advisers in the UK that hold B Corporation status; EQ Investors, First Wealth, Holden & Partners, Maseco, Paradigm Norton and Tribe Impact Capital. We know some of these firms personally and some by reputation and all are excellent at what they do.
We are pleased to say that with a score of 113 we are rated well above the average for B Corps but we do not intend to rest there but to push on and improve further.
That we must be the change that we seek in the world.
That all business ought to be conducted as if people and place mattered.
That, through their products, practices, and profits, businesses should aspire to do no harm and benefit all.
To do so requires that we act with the understanding that we are each dependent upon another and thus responsible for each other and future generations.The B Corp Declaration of Interdependence
Most advisers’ websites list awards that they have won and some are legitimate but many are a a result of buying an expensive table at an awards dinner. Sadly financial pressures have pushed many journals into becoming glorified events management companies with a side-line in journalism. The result is a plethora of meaningless awards. We have been awarded some of these in the past but stopped accepting when a particuarly pretty, glass globe award, refracted the office sunlight in such a way as to set fire to its own wooden base. As a firm we believe in only publicising awards that have been rigorously assessed. Chartered Firm Status is one and B Corp is another. In fact to qualify as a B Corp we had to go as far as to amend our legal structure to commit to putting planet and people up there with profit.
This approach matters to our clients because it shows that we invest more time and effort in managing the firm for their benefit and for the benefit of society as a whole, as we do in managing the firm for our own benefit. Not something financial services is known for.