Switchfoot Wealth - 2024 impact report review
Switchfoot Wealth is an independent financial advisor and aims to make sustainable financial planning the default. They are bold in their ambitions and have a laser sharp focus on impact.
👍🏻 Three things I like:
1. FOCUS ON WHAT MATTERS MOST
They have a clear understanding of the biggest way they can have an impact – i.e. the investment advice they provide rather than their operational approach to the business. Whilst they are taking actions to reduce their negative impact on the world across several areas, their big focus is on the most material impact they can have.
2. CLEAR THEORY OF CHANGE
They have a strategic approach to delivering impact. It makes logical sense and drives their priorities and decision making. The theory of change influences where they focus their effort.
3. PUNCHING WELL ABOVE THEIR WEIGHT
They are punching well above their weight as a micro business, working to changing the whole financial planning system.
They’re doing this through collaboration, working with umbrella bodies that have potential to create change at scale.
❓ Three questions it raises:
1. WHAT ARE THEY MEASURING?
They talk about a challenge with measuring the impact of carbon from investments due to a lack of data. That said, I’m curious to know what they ARE able to measure and are measuring. How do they know they’re making a difference and identify opportunities for improvement?
2. WHAT IDEAS DO THEY HAVE FOR ATTRACTING MORE WOMEN TO THE PROFESSION?
They believe that Sustainable Financial Planning may be more appealing to women than traditional financial planning, and so create an opportunity to increase diversity in the profession. They say they will be building this into their growth plans for the business. I wonder what initial ideas they’ve had for doing this?
3. WHAT ARE / WERE THEIR SMART OBJECTIVES?
What were their SMART objectives for the past year? What are their SMART objectives for the next year?
I like a business to have objectives that are specific enough and measurable so that it’s crystal clear the extent to which they’ve been achieved or not.
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You can read the report for yourself here and let me know what you think.
If you’re preparing to write your own impact report, you might find my FREE Impact Reporting Roadmap helpful: