Broadstone launches small charity investment service

Independent consultancy Broadstone has launched a new service specifically for small charities. The firm’s ‘Small Charities Investment Consultancy proposition’ will help non-profits to reduce costs and foster collaboration to better deliver their services.

In mid-2023, pension, employee benefits and investments consultancy Broadstone broadened its proposition for non-profit organisations like charities and endowment funds. The move saw the firm aim to inspire a broader shift in the market to improve the range and scope of investment solutions available to charities – at a time when many non-profit organisations are struggling to make ends meet.

The UK charity sector’s income shrank for the first time in eight years following the Covid-19 outbreak, according to new research from NCVO. The group’s most recent charity sector overview showed a 14% drop in money from the general public and a 15% fall in investment income led to an overall decrease of 3% in 2020-21 – with smaller charities hit hardest. As the third-sector looks to bounce back from that, other studies suggest some soul-searching will be in order.

Now, as Broadstone continues to boost its offering to non-profits, it has extended a new offering specifically to small charities that require independent, expert advice on their investments. Smaller charities will be able to subscribe to Broadstone’s service to access a membership of similar organisations. Membership unlocks access to a range of tailored services like town hall events providing training on investments or workshop groups to support finance teams when drafting policies and updating investment information for accounts.

This will be especially important in light of the recent changes to the Charity Commission's guidance, CC14. These changes urge Trustees to seek independent advice from experts if such expertise is not currently represented on their board and to view their investible assets as opportunities to align with their social impact objectives.

The sessions Broadstone will offer small charities are guided by one of the firm’s experts, and aim to reduce costs by encouraging collaboration, networking and growth while smaller charities will still have access to a dedicated, expert consultant whenever they need advice or guidance. Members also have access to Broadstone’s investment services at a reduced cost to support smaller charities’ budgets.

Speaking on the development, Rachel Titchen, Broadstone’s charities and investment director, said, “This innovative investment advisory service for smaller charities aims to deliver the support infrastructure charities need without the high costs. Subscribing to the service, will mean joining a membership of small charities who are encouraged to work together with access to Broadstone-led initiatives like training and workshops to develop Investment Policies.”