Online wealth manager Wealthsimple will today become the first robo-adviser in the UK to launch socially responsible investment portfolios.
The business, which has accumulated more than £1bn in assets under management globally, launched the offering in response to strong client demand.
Any money clients put in the socially responsible investment portfolios will be invested in funds with a particularly beneficial focus, such as cleantech, low carbon emissions or fair labour standards.
Wealthsimple’s chief executive Toby Triebel told City A.M. that there was also a negative screening process, meaning client money would not be exposed to businesses which work in fields such as tobacco or weapons manufacturing.
Canada-based Wealthsimple launched in the UK last September. Although it makes use of algorithms in its investment process, it has human advisers on hand to address client queries.