UK-based wealth manager Brooks Macdonald announced that it has appointed Ben Palmer as Head of Responsible Investment. The company also announced that it is making its Responsible Investment Services (RIS) offering available to International advisers, trustees and clients for the first time.
The wealth manager stated that these announcements were made in recognition of the increasing importance of environmental, social and governance (ESG) factors to investors. Responding to this growing demand, Brooks Macdonald has developed a new Suitability Discussion Guide, designed to enable advisers to easily identify strategies that match their clients’ responsible investment preferences, and to provide clients an opportunity to seek the healthy returns that ESG and other responsible focused funds have been generating. According to Brooks Macdonald, the firm’s RIS managed portfolios have significantly outperformed their relevant benchmarks both year-to-date, and since launching in early 2019.
Caroline Connellan, Brooks Macdonald CEO, said:
“We are delighted to appoint Ben Palmer as Head of Responsible Investment and to lead the charge in the ESG and sustainability field. This is an exciting time for the business given the growth in the UK market for ESG and responsible investment. Brooks Macdonald is leading the way, bringing the best products and services to advisers and their clients, and ensuring we have the best people in place to lead this important offering.”
Palmer has been with Brooks Macdonald for over 9 years, most recently in the position of Investment Director. In his new role, he will be responsible for leading and directing the firm’s commitment to responsible investment, focusing on the firm’s sustainable and long-term contribution to the sector, including the influence of wider business and societal trends in ESG. He will work with advisers to better understand the demand from their clients and the sector on ESG and responsible investing, integrating these into the firm’s RIS strategy and decision-making processes.
“I’m delighted to be heading responsible investment at Brooks Macdonald and look forward to taking the business to the next stage. We’ve already recognised that the pandemic has not diverted investors from responsible investing – if anything, it’s accelerated our ‘social’ awareness and we know we have a key role to play in helping advisers identify and provide suitable solutions for a growing number of clients. The evidence points to growth as we see businesses and organisations increasing their emphasis on sustainability and resilience, and responsible investment is very much tied to this economic trend, along with continuing government-led environmental policies.”