Helsinki Capital Partners - the first B Corp in Finland
The year 2017 marks the 10th anniversary of Helsinki Capital Partners (HCP), a Finnish asset management company built on transparency. The very same year, we are welcomed to join the global movement of 2000+ B Corps as the first company in Finland. Becoming a B Corp confirms that we’re heading to the right direction as a responsible business and that we are able to find new ambitious goals on our journey. We’re not stuck with one original goal, but we are also growing as a community.
The idea behind the foundation of HCP in 2007 was clear: a desire to be an open and honest asset manager. From the beginning, HCP has been committed to complete transparency in all operations. This includes telling our customers how much they pay both directly and indirectly to the company for the service that they receive. We are also committed to returning all kickbacks (invisible commissions) that we receive to our clients. We didn’t agree with the typical, often questionable practices of the industry, and that’s why HCP was founded.
Halfway through our ten-year journey, we started to steer ourselves more and more into activities that we didn’t find sensible to estimate through their economic benefits. We were guided by our new stakeholders who brought their own healthy values into our community. Since 2012, it has been typical of us to be involved in numerous projects whose main motive has not been our direct earnings but other things we value. Examples of those projects include art exhibitions, rave parties, horse races, and roof gardening.
Today, we continue with the original value base, but as the business has grown and developed, we have built new ideas, principles, and guidelines on top of the healthy foundation. For example, we are focusing more and more on the responsibility of our investments, and investing in our funds today is impact investing. Through our work, we live our values and create shared value in rich co-operation with all stakeholders. This broader sense of value that goes beyond monetary value is what we highlight at HCP.
The business we do today is a better business. Every time we get new clients, we get more recourses to do more and become better. Together with our stakeholders, we are building a better finance industry. At its best, the finance sector can be an important part of allocating society’s scarce resources efficiently.
A natural extension to our social projects and collaboration has been the introduction of #HCPSPIRIT. #HCPSPIRIT is about our way of doing business, our leading idea. One could say that, today, we communicate our values through this hashtag. It can be seen in everything we do from fund management to different kinds of collaborative projects with artists, athletes, and the third sector. In 2016, we were recognized for the #HCPSPIRIT theme by the 2016 AI Hedge Fund Awards: Best New Sustainability Fintech (#HCPSPIRIT).
#HCPSPIRIT doesn’t only serve as a brand or a way to communicate HCP’s values to the outside world; it also serves as a tool to gain real-time, uncensored information and feedback. This genuine information is what we highly value and what helps us develop the company further. We encourage our stakeholders to communicate their experiences – both good and bad – through #HCPSPIRIT.
Why a B Corp?
One of our most ambitious goals from the beginning has been redefining the financial sector. This requires a good tool with which to evaluate our own performance as a sustainable business and with which to communicate that performance to others. The B Corp certification gives us and our stakeholders impartial and credible information about how we are doing as a mission-based business. In fact, we value the certificate and the B Impact Assessment so much that we decided to start reviewing all our suppliers using the themes covered by the BIA. We want to see that all money we spend is in line with what we value, and at the same time, we are making the certificate better known among a large network of companies.
We first heard about the B Corporation Certification from one of our summer trainees in 2016. We became interested in the certificate, and now we are a member of the B Corp community already! This detail reveals a lot about our way of working: in addition to our own permanent employees, we have a rich network of partners and trainees who bring fresh ideas to our community. Our summer trainees, for example, are given plenty of freedom and encouraged to bring forward and realize their ideas. We think that, again, it all boils down to transparency, trust, and a good purpose.
HELSINKI CAPITAL PARTNERS
Tommi Kemppainen, CEO
One of the founders