Every account opened will use the Adelaide Bank Cash Management Account (CMA), unless an alternative is selected, when The Emerald Wrap launches in March 2012.

The Emerald Investment, Super and Pension Wrap will offer a wide range of responsible and ethical investment alternatives, all provided within a consolidated administration service.  The platform is being deployed via a partnership with Powerwrap, a Melbourne-based, independent, platform operator.

Justin Medcalf, co-founder of distributor, The Emerald Club, said that he and other financial advisers focused on the responsible and ethical investment industry have formed the Ethical Advisers Co-op to further promote the industry.  One of the Co-op’s most important initiatives was to create greater buying power and increase the appeal of being an Ethical Adviser. Hence Medcalf and co-founder, Tim Xirakis, created an RI platform service, designed in partnership with some of the co-op advisers for the ultimate benefit of current and future clients.

“Until now, most advisers offering responsible and ethical investments have had little choice but to use platforms designed by larger institutions, with little to no influence on investment menu and other platform features. This meant that in most cases advisers where unable to access the best of the best RI funds and were forced to use an unsuitable banking option,” Mr Medcalf said.

The new investment platform will provide access to managed funds and SMA model portfolios that have been certified by industry association, the Responsible Investment Association of Australasia and with a maximum administration fee of 0.428% for investment and 0.574% for super and pension, The Emerald Wrap is an attractive option for not only existing ethical advisers, but also those advisers looking to offer RI for the first time.

Diego Del Rosso, Senior Manager – Strategic Partners and Alliances at Bendigo Wealth, said he was pleased that The Emerald Wrap had chosen Adelaide Bank’s CMA.

“Australian investors and financial advisers are increasingly seeking to make investment decisions that take account of wider societal implications, rather than just investment returns.  By bringing responsible and ethical investment funds together in the one place, the new Ethical Investment Platform will support and encourage this trend.”

“Bendigo and Adelaide Bank is pleased to have been recognised by The Emerald Wrap as truly ‘walking the talk’ in terms of both our operations and offerings to customers and partners.   From the design of our headquarters through to the range of green products and the social dividend returned via our Community Bank model, this new partnership is a natural fit,” Mr Del Rosso concluded.

In addition to offering close to 25 RI funds and over 200 traditional managed funds, the platform will also offer managed models of equities using Powerwrap’s SMA functionality, thereby giving advisers and their clients greater transparency.

“Ethical investors do want to see the underlying shares that they are invested in.  It gives them added confidence as to the positive contribution they are making by only investing in those companies that are assessed as being responsible and ethical,” Mr Medcalf said.

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