Toolkit launched to help advisers gauge inner workings of fund houses

Industry veterans have created what they call a “toolkit” to enable advisers to understand the principles under which the asset management firms, in which they have placed client capital, operate.

Behind the initiative is Bev Shah, founder and chief executive of City Hive, who told FT Adviser: “The industry is good at creating change at companies in which it is invested, but are less good at flipping a mirror onto itself.

"The Action Challenge Transparency (ACT) is a reporting standard to help with transparency, but it is not designed to be a prescriptive yes/no list. There are three pillars to it, looking at the purpose, the vision and the values of the asset management and wealth management organisations. And central to all of those is how people are treated.”  

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