Financial planning firm Bespoke – Advice Ltd. has been certified as a B Corporation (B Corp) business.
It immediately becomes part of a growing global network of 6279 companies reinventing business as a “force for good”, pursuing purpose as well as profit, collectively seeking to transform the existing economic system to the benefit of all.
All businesses wishing to join this movement must undergo a rigorous assessment process and must meet the highest standards of social and environmental performance, transparency and governance.
Suzi Lane, founder & director at Bespoke – Advice Ltd., said: “When we founded Bespoke, I wanted to ensure that decency was embedded at its core.
“I wanted profitability but not at the expense of others.
“I wanted our clients to know that their interests were our interests and for our people to feel their development and wellbeing was essential to our success.
“I wanted our partners, suppliers and associates to feel confident in their dealings with us and for responsibility and sustainability to form part of our every day.
“Our B Corp certification not only demonstrates our commitment to these values and principles, it legally enshrines them in our business. It’s something for us to be proud of and something that can give confidence to those wishing to join or work with us.”
Certification addresses the entirety of a business’ operations and covers five key impact areas: governance, workers, community, environment and customers.
Successful applicants must provide sufficient evidence of socially and environmentally responsible practices relating to energy supplies, waste and water use, worker compensation, diversity and corporate transparency.
To complete the certification, the company will legally embed its commitment to purpose beyond profit in its company articles.
There are currently over 1100 certified B Corps in the UK across 58 industries, with the community including household names such as The Guardian, Innocent, Patagonia, The Body Shop and organic food pioneers Abel & Cole.
At this stage, only 35 firms offering financial advice have B Corp status.
All certified B Corporations are required to consider the impact of their decisions on all stakeholders and are legally accountable to them.
Lane added: “It’s easy to pay lip service to being a “good business” and to talk a good game.
“Becoming a B Corp not only makes us accountable for our actions, it compels us to become better; to learn and to continue learning, it enables us to measure our progress and allows others to easily see who and what we are.
She concluded: “It firmly positions us at the epicentre of positive change and I urge all business, whether in the financial services sector or not, to find out more and get involved for the good of us all.”
Chris Turner, executive director of B Lab UK, added: “We’re delighted to welcome Bespoke – Advice to the B Corp community and know that they’re are going to be a fantastic addition to the community and will continue driving the conversation forward.
“We’re pleased to have B Corps of all shapes and sizes as part of our community – from startups to multinationals and across many different industries. Business is a powerful force and B Corps demonstrate that you can do good in any sector.
“Welcoming Bespoke – Advice is an exciting moment because they have an opportunity to lead the way within the UK financial services industry helping formulate a new way of doing things.”
