Altruist Announces Partnership with ESG Pioneer HIP Investor

Published on: 19 November 2022
by KnowESG
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After the success of Altruist's Model Marketplace and the introduction of UMA capabilities, the RIA fintech company has announced a partnership with ESG pioneer and long-time innovator HIP Investor, giving advisors access to HIP Investor's Fossil Fuel Free Portfolio models centred on environmental, social, and governance (ESG) and climate action.

With this announcement, Altruist strengthens its strategic focus on individualised investing, with values-based investing, including ESG offerings, as a key component. Advisors should expect more solutions under its Model Marketplace that allow for greater flexibility and personalisation in the coming months.

Adam Grealish, Head of Investments, said:

"While markets are down, we’re seeing advisors rotate into strategies that they have had their eyes on, in particular, values-based investing strategies. With HIP’s Fossil Fuel Free Portfolios on our platform, advisors can build portfolios for any stage of their ESG journey—from dipping in a toe to full allocations to climate action and impactful investing. Our partnership with HIP Investor represents a cornerstone in our continued expansion into values-aligned and higher-impact investing.”

In February 2021, Altruist launched its Model Marketplace. It included its own investment models, called the Simplicity Series, as well as those from Vanguard and Dimensional Fund Advisors. Later, BlackRock, Redwood Investment Management, and StateStreet Global Advisors joined the marketplace as well. In April 2022, Altruist released the Altruist Strategist Series, which was the first to use direct indexing. Altruist has since incorporated more than 40 models from top investment managers.

R. Paul Herman, founder and CEO, said:

"HIP Investor has been at the forefront of creating solutions for investors who want to make a bigger difference since 2006. The HIP Fossil Fuel Free Portfolios are a diversified approach to investing in the health, wealth, earth, equality, and trust factors that benefit customers, citizens, nature, and society – while seeking to reduce future risk and benefit long-term financial returns. We are excited to partner with Altruist and offer the opportunity for higher-impact portfolios on Altruist’s Model Marketplace for advisors and their clients.”

Source: Business Wire

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