PIMFA WealthTech and Morningstar select two Fintechs to showcase ESG solutions at Morningstar Conference

26 April 2024

PIMFA WealthTech and Morningstar select two Fintechs to showcase ESG solutions at Morningstar Conference

• Two Fintech’s move to next stage in PIMFA WealthTech and Morningstar ESG ‘Tech Sprint’ following competitive process

PIMFA WealthTech, the market network and technology platform created with principal strategic partner Morningstar, a leading provider of independent investment insights, has today (26 April  2024) announced the Fintechs’ that have been selected to present their solutions for its latest ‘Tech Sprint’ focused on Environmental, Social and Governance (ESG) reporting, verification and disclosure processes in the sustainable finance sector.

The Fintech’s – Instinct Digital and Know Your Funds – were selected through a competitive process from a total of seven Fintech participants following demonstrations on how their technology could help wealth managers and advisers to navigate the huge amount of ESG data that exists in order to better serve their clients as well as fulfilling regulatory reporting requir­ements.

Instinct Digital is a provider of digital reporting solutions for asset managers designed to help them to unify their nreporting assets, digitise communications, and optimise reporting operations

Know Your Funds is a provider of a solution designed for the investment community with clients that already include are asset owners, asset managers and depositary service providers.

The two companies will now go forward to the Morningstar Investment Conference, which takes place in London on 1 May 2024, where they will be able to showcase their solutions to wealth managers, advisers and other interested stakeholders.

ESG and sustainable finance are a priority area of focus not only for wealth managers and advice firms, but also the Financial Conduct Authority (FCA). PIMFA, the trade association for the wealth management, investment services and the investment and financial advice industry, is taking a leading role in supporting the development of new guidance in partnership with the FCA to ensure the information provided to consumers is clear and consistent, and so as to eradicate, where possible, the detrimental impact of the phenomenon known as ‘greenwashing’.

PIMFA WealthTech has been created to address digital business transformation through the development and adoption of market-leading technologies. As a digital marketplace and industry network. PIMFA WealthTech’s objective is to drive innovation and enhance collaboration between Fintechs and wealth management and advice firms, operating an Advisory Council of leading wealth management and financial advice practitioners that cover all segments of the sector.

Richard Adler, Executive Director of PIMFA WealthTech, commented: “ESG and Sustainable Finance is a top priority for PIMFA members, with the recent FCA sustainability disclosure requirements and investment labels policy a key step for increasing trust in sustainable investments.

“The role technology can play in helping our members meet new requirements and serve their clients better has the potential to be enormous. We’re delighted to be working with Morningstar on this important Tech Sprint and are looking forward to both Know Your Funds and Instinct Design demonstrating the solutions they can offer at Morningstar’s Investment Conference next week.”

Anastasia Georgiou, Director of Client Solutions, Adviser Segment, EMEA, Morningstar, commented: “We are proud to continue our longstanding strategic partnership with PIMFA WealthTech to showcase new technology solutions from Fintechs to the Wealth sector.

“Today, firms need to generate insights and ideas for sustainable investments and position new offerings in the market. This includes identifying innovative ways to address the challenge of harnessing the vast amount of data available, which is needed to provide accurate reporting and disclosures. Along with PIMFA, Morningstar is proud to help promote new solutions to help firms identify ESG risks and create new opportunities for clients.”

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About PIMFA WealthTech

PIMFA WealthTech is part of the Personal Investment Management & Financial Advice Association (PIMFA), the trade association for the wealth management, investment services and the investment and financial advice industry, spanning 13,000 regulated firms that collectively manage the interests of almost £1.7trillion.

It believes that collaboration is essential to solving industry challenges and brings together senior industry decision-makers to address the most important and complex questions concerning technology focus, partnering and adoption as it applies across the value chain.

Our market network and technology platform has been created to bring the most innovative and relevant WealthTechs to our sector. Our teams work alongside leading financial institutions to identify, prototype and deliver enhancing technologies and breakthrough solutions that generate competitive advantage and business impact.

Further information can be found at pimfawealthtech.com

About PIMFA

About PIMFA – the Personal Investment Management & Financial Advice Association

• PIMFA is the trade association for firms that provide wealth management, investment services and the investment and financial advice to everyone from individuals and families to charities, pension funds, trusts and companies.
• The sector currently looks after £1.7trillion in private savings and investments and employs over 63,000 people.
• PIMFA represents both full and associate member firms. Full members provide a range of financial solutions including financial advice, portfolio management, as well as investment and execution services. They assist everyone from individuals and families to charities and pension funds, all the way to trusts and companies.  Associate members provide professional services to the PIMFA community.
• PIMFA leads the debate on policy and regulatory recommendations to ensure that the UK remains a global centre of excellence in the wealth management, investment advice and financial planning arena. Our mission is to create an optimal operating environment so that its member firms can focus on delivering the best service to clients, providing responsible stewardship for their long-term savings and investments.
• PIMFA has made numerous recommendations to the FCA regarding the Future of Advice, the Future of Supervision and the FSCS levy – read more.
• PIMFA was created in 2017 as the outcome of a merger between the Association of Professional Financial Advisers (APFA) and the Wealth Management Association (WMA) with a history as a trade association since 1991 – read more.
• Further information can be found at pimfa.co.uk

About Morningstar, Inc.

Morningstar, Inc. is a leading provider of independent investment insights in North America, Europe, Australia, and Asia. The Company offers an extensive line of products and services for individual investors, financial advisors, asset managers and owners, retirement plan providers and sponsors, and institutional investors in the debt and private capital markets. Morningstar provides data and research insights on a wide range of investment offerings, , including managed investment products, publicly listed companies, private capital markets, debt securities, and real-time global market data. Morningstar also offers investment management services through its investment advisory subsidiaries, with approximately $294 billion in assets under advisement and management as of Mar. 31, 2024. The Company operates through wholly- or majority-owned subsidiaries in 32 countries. For more information, visit www.morningstar.com/company. Follow Morningstar on X @MorningstarInc. 

 

NOTES TO EDITORS

About PIMFA – the Personal Investment Management & Financial Advice Association

• PIMFA is the trade association for firms that provide wealth management, investment services and the investment and financial advice to everyone from individuals and families to charities, pension funds, trusts and companies.
• The sector currently looks after £1.65 trillion in private savings and investments and employs over 63,000 people.
• PIMFA represents both full and associate member firms. Full members provide a range of financial solutions including financial advice, portfolio management, as well as investment and execution services. They assist everyone from individuals and families to charities and pension funds, all the way to trusts and companies.  Associate members provide professional services to the PIMFA community.
• PIMFA  leads the debate on policy and regulatory recommendations to ensure that the UK remains a global centre of excellence in the wealth management, investment advice and financial planning arena. Our mission is to create an optimal operating environment so that its member firms can focus on delivering the best service to clients, providing responsible stewardship for their long-term savings and investments.
• PIMFA has made numerous recommendations to the FCA regarding the Future of Advice, the Future of Supervision and the FSCS levy – read more.
• PIMFA was created in 2017 as the outcome of a merger between the Association of Professional Financial Advisers (APFA) and the Wealth Management Association (WMA) with a history as a trade association since 1991 – read more.
• Find out more about PIMFA’s Diversity and Inclusion work – read more
• Further information can be found at pimfa.co.uk

Contact

For further information on this release or other press matters please contact:

Matthew West, PIMFA PR Manager – MatthewW@pimfa.co.uk, +44 (0)20 7382 0376 / +44 (0) 7843 903258.

Sheena Gillett, PIMFA Communications & PR Director – sheenag@pimfa.co.uk, +44 (0)20 7011 9869.