Ethical rage continues
The new group will be known as The Ethical Investment Company of Australia and be based on the UK based Ethical Investment Co-operative and headed by founder and director Guy Hooker. The UK co-operative of independent financial advisers services individual clients, trade unions, charities and pressure groups.
Hooker, who has been involved in ethical investing for about 12 years, will take on the group's chief executive position. His role will include researching ethical UK and European stocks for the international division of portfolios. Three Australian directors have also been appointed to the group. Nick Cowling is in charge of business development, Mario Ragusa is the group's finance director and Ross Brierty heads up marketing.
Cowling says the group has already appointed two financial planners and there are plans to add several more, as well as appoint a researcher and analyst.
"We will also contract out for staff but because of our niche market, it is important to have quality in-house research," Cowling says.
The arrival of the Ethical Investment Company of Australia onto the ethical investment scene marks the country's continuing interest for socially responsible investments (SRI).
Recommended for you
Professional services group AZ NGA has made its first acquisition since announcing a $240 million strategic partnership with US manager Oaktree Capital Management in September.
As Insignia Financial looks to bolster its two financial advice businesses, Shadforth and Bridges, CEO Scott Hartley describes to Money Management how the firm will achieve these strategic growth plans.
Centrepoint Alliance says it is “just getting started” as it looks to drive growth via expanding all three streams of advisers within the business.
AFCA’s latest statistics have shed light on which of the major licensees recorded the most consumer complaints in the last financial year.
