A Small business
with big ambitions

Delivering a high-quality service to our clients, growing our business and maintaining a strong financial performance are all important to us but we aspire to something far greater.

Committed to making a difference

In the UK there are almost six million small businesses - they make up more than 99 per cent of all businesses, employ more than 13 million people and contribute more than a third to our GDP. They are the lifeblood of our economy and the hearts of our communities and therefore, have the greatest opportunity to create a positive impact on society.

Source: Business population estimates 2020 - gov.uk, October 2020

It’s a responsibility we take extremely seriously.

“There is a saying that customers will never love a company until the employees love it first. At Penney Financial Partners we believe in the concept that our colleagues are our company and only through their passion can we deliver the exceptional service our clients expect.”

Nina Sahota, Client Services Lead, Penney Financial Partners

People

“Great things in business are never done by one person.
They are done by a team of people.” Steve Jobs

As a responsible small business, we always consider our impact on people and first and foremost that means creating the right environment so that our own colleagues can thrive and grow.

Building a team that is engaged, committed and happy in what they do and how they are doing it doesn’t just make good business sense - it breeds the kind of positive culture that allows colleagues to think beyond their day-to-day responsibilities.

In 2020 we were delighted to be awarded the Good Business Charter accreditation in recognition of our commitment to good employment practices as well as our attitude towards tax, the environment, customers and suppliers. Established by the Good Business Foundation and supported by the CBI, the charter consists of 10 components, at the heart of which is a commitment to maintaining a fair and ethical approach in all aspects of our business.

When it comes to our colleagues at Penney Financial Partners, that means ensuring equitable pay and conditions for all, providing clear and transparent policies that support well-being and committing to investing time and money in creating an inclusive workforce that recognises the importance and opportunities presented by diversity.

More details about our accreditation and the commitments we have made can be found at www.goodbusinesscharter.com

“As far as we are concerned, becoming a carbon neutral business is a win-win situation. At its heart, it was about taking positive action to tackle the climate crisis but by evolving how we work, it is also good for the bottom line and our long-term value, in all respects.”

David Penney, CEO, Penney Financial Partners

GOING GREEN

Why do we care?

Mention corporate social responsibility and many people will imagine large multinational businesses when in many ways it is small businesses that have the opportunity to create the greatest impact.

One of the great responsibilities that we all bear, both as businesses and individuals, is to our planet – indeed it is the most pressing issue of our age. This means taking action now and so at Penney Financial Partners we have committed to a wide range of initiatives to ensure that we are not only minimising our own impact on the planet but also working with our clients to support them on their own environmental journey.

The pride we have in our business stems not just from the service we provide today, but the legacy we leave for tomorrow. In our view it is not possible to have one without the other.

Becoming a carbon neutral business

In 2021, we committed to becoming a carbon neutral business with a five-year target of achieving ‘net zero’ status.

This means that in the short term we will offset the carbon that we generate through our business every year by investing in mechanisms that absorb the equivalent amount of carbon that we produce. However, our longer-term goal is to become a net zero business and that means eradicating all carbon emissions from our business activities where possible.

To achieve our environmental aspirations means a significant change in our own behaviours and how we work.
This means...

ribbon

Responsible investing

As part of the St. James's Place Wealth Management family, we are part of one of the industry’s most progressive organisations when it comes to responsible investing.

At St. James's Place, responsible investing is considered as standard. It is a key part of who we are, how we plan, grow and protect our client’s wealth and how we operate as a business. This means that St. James's Place’s entire fund range meets the highest standards of responsible investing by integrating environmental, social and governance issues into all investment decisions.

In a world where customers are becoming increasingly socially aware and want to engage with companies that share their own values, the way that a company approaches environmental, social and governance issues plays a significant role in its long-term prospects. This means that responsible investing is no longer solely of interest when considering the effect our money has on environmental and social concerns – it also makes financial sense.

Clients no longer have to put principle before profit and through St. James's Place’s Discretionary Managed Service, clients can go one step further and build portfolios from beyond the usual fund range with those that share specific responsible investment values and beliefs. There is also huge environmental benefit for every individual considering investing in a sustainable fund.

According to Nordea Group’s Sustainable Finance report (Jan 2018), moving a pension or ISA to a sustainable fund can be 27 times more impactful at reducing a carbon footprint than a combination of lifestyle changes including reducing flights and eating less meat.

The value of an investment with St. James's Place will be directly linked to the performance of the funds selected and may fall as well as rise. You may get back less than the amount invested.

listening to our clients

74%

believe they have a duty to
combat climate change.

93%

believe companies should be as environmentally and socially responsible as possible.

83%

think that the financial services industry should promote a sustainable world.

76%

support investment managers persuading companies to be more sustainable.

Source: The Wisdom Council, 2020. Survey of 2,000+ UK consumers and 114 clients of St. James's Place.


We no longer live in a world where investments are measured by value alone. The global challenges of climate change, mass consumption of energy and resources and pollution mean that investing today is about achieving financial wellbeing in a world worth living in.

We believe that if we can measure it, we can manage it and that is why through measuring the carbon footprint of our portfolios, we can identify the opportunities for change and limit the harmful impacts on our planet and people around the world.

We continually monitor our funds and track progress on any reported metric, including that of carbon emitted by the companies held by each of our fund managers.

We conduct annual responsible investment assessments of our fund managers to measure their alignment with our objectives through this regular analysis we are able to respond to substantial increases in carbon intensity and focus specific attention on companies that have particularly high emissions. Find out more about the carbon performance of each of our funds in our latest report.


Woodland Trust partnership

The Woodand Trust is the largest woodland conservation charity in the UK, planting more than one million trees every year. As part of our commitment to encouraging our clients to embrace the fantastic advances in technology that have been introduced over the past 12 months, we have pledged to donate £3 for every client who signs up to the Client Advice Portal (CAP), which provides a range of virtual meeting and administration opportunities for clients.

This initiative mirrors a pledge by St. James's Place to donate £3 to the Woodland Trust for every client that signs up to the St. James's Place Online Wealth Account, which allows clients to review their investments online and top up their ISAs directly using their own bank card.

St. James's Place has also committed to donate £5 to the St. James's Place Charitable Foundation for every person who signs up to go paperless in their correspondence with St. James's Place and for every client that signs up to all three of these initiatives, we will add a further £4 donation to the Woodland Trust.

At Penney Financial Partners we have more than 700 clients and we are part of a network of more than 4,000 Partner Practices with hundreds of thousands of clients and more than £129bn of funds under management. That’s the potential for a lot of new trees!

Woodland Trust

Access to valuations at the touch of a button

The Online Wealth Account provides instant access to portfolio valuations. All correspondence with St. James’s Place is also uploaded to the account to ensure that it is all in one place and all of this is easily accessible via a simple log in which can be provided by contacting the team at Penney Financial Partners.

“Trust and authenticity is such an important part of business. Through our engagement with the communities that we serve, we are able to show people who we really ARE and what is important to us.”

Rob Hawkins, Business Development Consultant

OUR COMMUNITY

As a small business, we are emotionally rooted in our local community. Its health, wellbeing and economic vitality are all intrinsically linked to our own success and we strongly believe in the virtuous circle that derives from putting in as much as taking out. This means recruiting locally, supporting local supply chain and championing the people, places and businesses across our network.

This local approach means we understand the challenges within our own communities and allows us to develop initiatives that will have the greatest possible impact.

Community Day Allowance

Not all decisions at Penney Financial Partners are taken collectively but one area where colleagues have a really important input is in regard to how we engage with the local community.

Our colleagues are the neighbours, friends and contacts of the people we serve, the eyes, ears and conscience of our business. This understanding means they are best equipped to recognise where there is the greatest need and ultimately, where we can make the most significant impact.

As well as establishing an internal ‘CSR green team’ that reviews our sustainability performance and engagement with the local community, all colleagues are also provided with a two-day community day allowance where they can individually volunteer for community activities.

Through this initiative we are able to provide a minimum of 50 days volunteering in the local community every year.

water bottle

DID YOU KNOW THAT...

  • Two thirds of plastic is too low grade to recycle.

  • Around 85% of what we leave out to recycle will go to landfill or be incinerated.

  • Plastic can only be recycled 2-3 times before becomes too low grade.

  • Glass can be recycled up to 25 times.

Source: 7 things you didn’t know about plastic and recycling – National Geographic, April 4, 2018

Cheltenham Festivals

In 2019 we opened a new office in Cheltenham as a base to grow our business across the Cotswold region. Cheltenham is one of the UK’s most exciting and dynamic towns, supported in no small measure by the fantastic Cheltenham Festivals, which include the Music, Jazz, Literature and Science festivals that take place throughout the year. As well as helping to put Cheltenham on the global map through the high profile guests and performers the events attract, the festivals also drive millions of pounds into the local economy, supporting local people and businesses.

Our CEO David Penney has recently become a patron of the festivals and as a business, Penney Financial Partners supported the Literature Festival in 2020 and 2021 the practice is supported the Everyday Plastic initiative, that is part of the Science Festival.

The project is working with more than 400 schoolchildren from across the Cheltenham district who will be collecting and assessing the amount of plastic they and their families use as part of unique pilot for a national survey that will seek to highlight the unsustainable amount of recycling that we produce and the need to reduce our overall consumption and reliance on single-use practice.

Financial education

There is no age too young for children to start thinking about money and the value of money.

As well as helping young people begin good financial habits at an early age, financial education can also be beneficial in areas like maths as children better understand the context of questions.

However, it isn’t currently on the national curriculum for primary schools, and it has only been on the secondary school syllabus since 2014 although is yet to be fully adopted by all.

Supporting young people gain a better understanding of money and providing them with the life skills such as budgeting and understanding key areas such as compound interest (Einstein’s 8th wonder of the world!) are critical to helping them manage their own financial futures.

This is a major focus for Penney Financial Partners and as an accredited Financial Education Specialist, our CEO David Penney works alongside his wife Bev with schools to deliver money workshops to young people of any age.

If you would like to find out more about our recent experiences delivering financial education in the local community and think we may be able help you and your school, then please contact us.

Find out more about our values and vision at Penney Financial Partners by following our social media channels or listen to our PenneyCast podcast.

A Small business
full of optimism

We believe that the world can be a better place and it is through this belief that we are able to take responsibility for making it so.

We are determined to create the best possible legacy through continuing to challenge ourselves and by ensuring we are doing the very best we can do in supporting both our clients as well as other like-minded businesses as they seek a more sustainable future.

We want to be the change while supporting those who truly want to make a positive impact on the world around them.

“A successful future for us all will be driven by collaboration. Come and talk to us and let’s make great things happen together.” David Penney

View our responsible business flipbook

The Partner Practice is an Appointed Representative of and represents only St. James's Place Wealth Management plc (which is authorised and regulated by the Financial Conduct Authority) for the purpose of advising solely on the group's wealth management products and services, more details of which are set out on the group's website www.sjp.co.uk/products The 'St. James's Place Partnership' and the title 'Partner' are marketing terms used to describe St. James's Place representatives.

Penney Financial Partners is a trading name of Penney Financial Partners Ltd. Penney Financial Partners Limited is registered in England and Wales, Number 09964340. Registered Office: Kensington House, Knights Way, Battlefield, Shrewsbury, Shropshire, SY1 3AB, UK