Ethic Adviser, a sustainable investing solution for financial advisors, investment brokers and accountants, is seeking to raise $1 million in seed funding to expand it globally.
The fintech was developed by Tom Culver last year, before launching in March, to provide advisors with a SAAS solution with specialized tools and information for sustainable investing.
“With the acceleration of consumers seeking sustainable investment solutions, advisors have been desperately left behind by their industry,” he said.
“They are stuck between customers who want sustainable options and product providers who sometimes provide questionable products, rather than providing accurate and reliable information or support for advisors to advise their customers.”
Culver previously founded ethical investing platform Goodments, which he sold to ASX-listed Douough for $1.5 million in scrips.
The Ethic Adviser platform processes thousands of ESG data points and converts them into understandable recommendations for both advisers and their clients.
Advisors also have access to a range of investigative tools, including the comparison tool, insights module, and advisory outputs to meet post-client meeting and compliance requirements.
Culver has signed a partnership with Count Financial to use Ethic Adviser with its 300 financial advisors.
Simon Jeffery-Bilich, Count Financial’s head of practice development and research, said they had seen huge shifts in client preferences for sustainable and responsible investing.
“Clients will increasingly be quite specific about the sectors they don’t want to invest in, often for very personal reasons,” he said.
“We notice that this aspect is often time-consuming for consultants. For this reason, the Ethic Adviser platform is a great way for advisors to proactively understand customer preferences, gain insight into investment options and deliver great customer outcomes.
“I think the time will come when sustainable and responsible investing will become the norm. The Ethic Adviser platform helps advisors start this conversation with their clients and add value to both clients and their business.”
Culver said Ethics Advisor is now seeking $1 million in a Seed round for the next growth phase.
“Our strong foundation for success has been built by finding market fit with our MVP product,” he said.
“As such, the company is raising capital to optimize the product experience, increase sales in Australia and expand into new markets. Ethics consultant raises $1 million to support next 12 months of operations and scale and have a clear path along proven metrics to very strong ARR within 12 months.