Financial planning firm Paradigm Norton has obtained the prestigious status as a Certified B Corporation business, reflecting its commitment to building for the longer term as part of its aspiration to be an exemplar to the profession.
The Bristol, London and Torquay-based business is the 228th UK company to be awarded the esteemed certification, and the 21st financial services firm. Only 3,067 organisations have achieved B Corp status globally.
The B Corp community, which counts within its ranks the likes of Body Shop, Innocent Drinks and Pukka Herbs, works towards reduced inequality, lower levels of poverty, a healthier environment, stronger communities, and the creation of more high-quality jobs with dignity and purpose.
Paradigm Norton has been working towards obtaining B Corp status since 2016, when the firm began implementing significant material changes that the rigorous selection criteria —which are based on the areas of governance, workers, community, environment and customers — would demand.
The most substantial of these was adapting all the corporate documents to ensure that the governance of the business is focussed on ‘People, Profit and the Planet’.
Since the firms inception in 2001, Paradigm Norton has strived ‘to impact the lives of their clients, for the better, forever.’
Co-founded by CEO Barry Horner, the firm has won over 25 professional awards and employs a team of 69 across its three offices.
The company, which serves over 1,400 families and has over £1bn of assets under its management, has positioned itself as pioneer for good, not just in the Financial Planning profession but in the wider financial services industry.
Barry Horner, CEO at Paradigm Norton, said: “Our certification as a B Corp business is testament to the fact that we truly live out the values on which I built the company; centred around people, and a commitment to extraordinary client care.
“B Corp isn’t just a tick box exercise, it’s a culture and a way of life for us. The Paradigm Norton team genuinely cares about taking personal responsibility for the impact that we have on the world.
“The work doesn’t stop here for us. B Corp monitors the ‘triple bottom line’ standards required by a social purpose business, relating to ‘People, Profit and Planet’, and so we will be held fully accountable in ‘walking the talk’ of our values.”
Legal firm Bates Wells Solicitors was pivotal in bringing B Corp to the UK and the first solicitors in the nation to achieve the certification.
Luke Fletcher, partner at Bates Well Solicitors, said: “It’s exciting to see firms, like Paradigm Norton, which are established in their markets and driven by their values joining the growing B Corp movement.
“Increasingly, investors want to know that the investments they are making will not only meet their financial objectives but also their impact objectives – which requires a shift in mindset and approach on the part of advisers. Paradigm Norton’s certification as a B Corp means that clients who want to have a positive impact through their investments can be more confident than ever that the firm is completely committed to making the same journey.”
As well as attaining B Corp status, Paradigm Norton this year transferred 80% of the ownership of the business to the wider team through an ‘Employee Ownership Trust’, thus providing stability and security for its 1,400 clients.