What it’s like to take an ethical approach to investing

This is our client Jayne’s story

I first realised I probably needed help with my finances was back in 2015. My husband had recently passed away, and as in so many marriages, he had always been the one who looked after the financial side of things.

Now I found myself having to take up the reins, and despite being a director in the NHS, I found I didn’t have the specific knowledge or skills to do it. Then a friend recommended a particular accountant, and I asked them to help.

An accountant wasn’t the answer

To cut a long story short, the accountant made a total mess of things. In the first year working with them I overpaid on tax – I paid three tax bills in good faith, until the tax office contacted me. I then had to go back and seek a refund.

At this point I realised I needed someone to give me a holistic approach of my finances, and that it wasn’t an accountant I needed, but a financial adviser.

When I had my first meeting with Alasdair, I was immediately impressed at how he began by giving me a full assessment of the risk factors. I had wondered about the risks of investing before, but speaking to Alasdair made me realise that so much of what I thought I knew was wrong – I had been working with the wrong information. There are a range of different risk levels you can take depending on what you feel comfortable with.

He listened to what I had to say, assessed what I was trying to achieve, asked what my investment goals were. But when he made suggestions, at no time did I feel pressured, or feel bound to accept a particular solution.

Alasdair’s advice was also refreshingly jargon-free

So many financial professionals bamboozle you with technical jargon, but Alasdair had this great ability to explain things in intelligent language, but clearly and in simple terms.

Once he had completed his assessment of my preferred level of risk – ‘risk profiling’ – Alasdair went off and designed a portfolio that was tailored to my needs. Nothing was set in stone; he explained each of the elements of my portfolio and I was free to accept or reject all options.

The ethical investment choices Alasdair showed me were particularly good. I discovered that you can literally take an ethical stance by dictating where your money is invested and ‘vote with your money’. The questions I had about these funds and other investment types were clearly explained to me.

My father died of lung cancer, so I was pleased to find that Alasdair had identified funds that refused to invest in the tobacco industries. Other funds avoided the military/armaments industries, which meant that my money wouldn’t contribute to any military conflict. As an NHS worker, these were two causes particularly close to my heart.

Regular reviewing the plan

And so we took it from there. We had biannual reviews until the Covid pandemic arrived. After that, I couldn’t go to see Alasdair at his office, but we switched to video until restrictions were lifted, when he came to me. I very much appreciated having our meetings in the comfort of my own home because it meant not having to travel. But I still have the option of meeting him in his office or online.

It particularly helps when having frank conversations. On one occasion I was buying bonds recommended by him, but I told him I found the total amount of money involved a little daunting. This was absolutely no problem. Far from pressurising me to go for the full investment, Alasdair rejigged the investment to fit with the budget I was comfortable with.

That’s what I like about Betterworld – clear, jargon-free expert explanations, no pressure to make any move I am not comfortable with. They are always happy to go the extra mile, to answer questions at any time by phone or email, and always in a positive, helpful and welcoming way.

And the fees charged are comparable - and often less - than with other service providers and large companies.

I would happily recommend them!