It’s that time of year when we look back over 2023 to celebrate successes and plan for 2024 and the year ahead.
It’s that time of year when we look back over 2023 to celebrate successes and plan for 2024 and the year ahead.
It has been a busy year and despite markets being challenging we have achieved a lot with your support, continuing to ensure that your money is invested on The Big Exchange (TBE) for the maximum impact on people and planet.
• Awards: We won Best for Sustainable Investors from Boring Money for 2023 – that is three years running!
• Transition: We prepared an article for the Big Issue focusing on the transition to climate change solutions which are fair for both people and planet. A “Just transition’ highlighted the fossil fuel free filter on the TBE site giving customers the opportunity to eliminate fossil from their investments. Read more.
• Fairness: TBE’s independent impact committee, led by Nigel Kershaw OBE, the Chair of The Big Issue group, continued to be a forum for advocacy and discussed lots of topics of crucial importance to people and planet. We were therefore very pleased to see the long-awaited release of the new Sustainability Disclosure Requirements (SDR) from the Financial Conduct Authority (FCA) which is designed to put an end to greenwashing and creates four sustainable labels which will start to be used from July this year. More on this exciting development soon.
• Transparency: TBE has an extensive due diligence process for funds we onboard onto the platform. Each fund must supply its full holdings and then agree to go through our independent assessment process conducted by Square Mile. Following assessment, if funds pass the test they are given a medal, with a minimum of a bronze needed to be included on TBE. In addition, we are proud to offer customers full transparency and to answer any questions customers may have about companies their fund may hold.
• Advocacy: The Impact Committee also heard a presentation from Reprieve, an organisation which has raised concerns about the drugs used in lethal injections in the US prison system . Drugs have been sourced illegally to be used and not for their intended purpose. TBE provided the forum for discussion which enabled this global advocacy group to escalate the matter and continue to drive change. More about Reprieve here.
• Diversity and inclusion: TBE became a signatory to ACT which is a disclosure framework providing a standardised way for investment companies to understand, create and progress cultural change. A great measure of their progress on diversity and inclusion which avoids groupthink and should lead to better outcomes in our view. Find out more here.
• Inclusivity: We want TBE to continue to reflect an inclusive financial system. We have kept our fees to a minimum so that customers will only pay 25p for every £100 invested plus the fund charge for their chosen fund which varies according to the type of fund. For example, bond funds typically have lower charges whilst for equity funds certain geographic regions and specialist funds may cost more.
• Join the movement: New customers have joined the Big Exchange movement each month this year. We have achieved this through editorial coverage and word of mouth recommendation alone. No large marketing budgets here!
• Medals: We analyse and award medals to investments which make a positive impact on people and planet. The colour of the medal is the measure of impact according to our assessment. This does not mean that a bronze medal is inferior to a gold medal, it might just be a different style of investment. Right now - we have 19 Gold Medals, 36 Silver Medals and 20 Bronze Medals!
We are delighted to announce that we have raised additional funds from our existing shareholder base. We are thrilled and believe it will enable us to scale at a faster pace than previously anticipated. Watch this space for more information in the coming months….
We are also pleased to announce that, subject to FCA approval, James Bryan will be appointed as our new CEO. James has over twenty years' experience of working in digital, most recently at Vanguard, as one of the founders of its UK Personal Investing business. Abigail Sater will remain and do a thorough handover to James and going forward will continue to support on an Advisory basis and remain on the boards of The Big Exchange and The Big Exchange (TBF).
Campbell Fleming, Chairman of The Big Exchange, comments, ‘We are delighted that James, with his previous experience, is joining as part of this investment. James’ skills and experience mean he is well placed to build on The Big Exchange’s strong foundations. The Board and I are immensely grateful to Abigail for the hard work and dedication she has given to building The Big Exchange business and look forward to continuing to work with her as a Non-Executive Director’.
James Bryan, CEO of The Big Exchange, comments “I’m excited to build on the fantastic work delivered by Abigail and team. We are committed to creating an amazing investment platform for people looking to make a positive impact through their investment choices.’
Abigail Sater, comments, ‘I am delighted to have secured this new investment into the business, which sets it up for continued success in the future. I am immensely proud of the mission driven business that we have built, launched, and grown together and want to thank the board and the team for their dedication and support to our business and our customers. I am pleased to remain on the Boards to continue to support our customers, drive our mission, and support James and the team going forward’.
As always, please email us at enquiries@bigexchange.com if you have any questions and hope you have a peaceful 2024!
Please remember that when investing, making money is not guaranteed and your capital is at risk. The value of your fund can go down as well as up. Tax treatment depends on an individual’s circumstances and may be subject to change.
The Big Exchange (TBF) Limited is a wholly owned subsidiary of The Big Exchange Limited. The Big Exchange (TBF) Limited is an Appointed Representative of Resolution Compliance Limited, which is authorised and regulated by the Financial Conduct Authority (FRN: 574048). (CaRA: 8438)
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