Building a Better Future: the Impact of PureFacts’ PurePossibilities Program in 2022
Earlier this year, PureFacts was profiled by the Toronto Star, Canada’s largest daily newspaper by circulation. As part of the MaRS ecosystem, we were humbled to be featured as an innovator in technology. With over two decades in wealth-tech, we’re no stranger to media coverage. Our award-winning SaaS platform to help investment firms improve revenue management has been profiled before. But unlike other pieces that often focus on our technical innovation, this piece struck a chord because, in addition to showcasing our solution, it focused on our company values. It’s in our DNA In the article, CFO Gerard Daniels explains that PureFacts’ values and commitment to giving back aren’t lip service – they’re part of the company’s DNA. Many employees come from humble beginnings, including founder and CEO Robert Madej, and have a deep appreciation for how difficult growing wealth can be, especially in today’s economic climate. So as the company started to think about things like corporate citizenship, it made logical sense to develop a program designed to foster growth. Enter the PurePossibilities Program PurePossibilities was created to help provide a leg up to those who need it to ensure more people have financial well-being and the ability to live their best life. The program is comprised of three pillars – Essential Needs, Education, and Employment. Each pillar is designed to support the growth and success of both individuals and communities. The program is managed by a dedicated team of PureFacts employees and led by Mehrnaz Shokrollahi, an award-winning computer engineer, AI-influencer, and PureFacts’ AI Team Lead. “I was fortunate to be able to come to Canada with my family and start a better life, receive a formal education, and build a positive support network of friends and family. I’ve been able to excel in my career but, unfortunately, not everyone has this privilege. Leading the PurePossibilities program gives me the opportunity to give back to the community that’s given so much to me.” With a distributed workforce and global footprint, making a meaningful, coordinated, contribution towards each of these pillars might seem like a tough assignment. But when giving back is such a key ingredient to your company culture, and you have a team of people passionate about helping others, it becomes a natural part of doing business. Donating to ensure essential needs are met In 2022 PureFacts contributed to a variety of charities to help provide access to essential support and resources. This meant raising money for international causes as well as charities in our own backyards. In 2022 our charitable contributions included: Raising $10,000 to support Ukraine emergency relief efforts. A financial donation to Fundação LIGA in Lisbon Portugal to help support their efforts to help those in vulnerable situations and with disabilities obtain professional training and employment. A financial donation to CASA Foundation for International development to help them buy food and winter essentials for youths and women in shelters. Providing essential items, winter clothing, and financial support for Dixon Hall Housing Services, who operate shelters across Toronto. While for a small team these contributions were meaningful, they barely scratch the surface of what these organizations, and others like them, need in order to deliver essential services and support to some of the most vulnerable people in our communities. We’ll continue to support organizations in need in 2023 and beyond as part of the PurePossibilities program. Lifting people up through access to higher education This year, PureFacts partnered with seven programs across five Canadian universities to help increase access to education. Our PureScholars program provided $152,000 worth of scholarships for more than 30 students over five years. Scholarship recipients included students at: University of Guelph Engineering and Business departments, Rotman School of Business at University of Toronto, University of Toronto Electrical Engineering department, University of Waterloo Department of Math and Computer Science, and; Schulich School of Business at York University Providing mentorship to help create a path for meaningful employment Rounding out the PurePossibilities program in 2022 was our involvement in mentorship. The PureFacts team mentored scholarship recipients and students from a variety of different organizations, including Wavemakers, to help them gain meaningful work experience and future-ready competencies. One student even became a PureFacts intern. In 2023 we look forward to expanding our mentorship program even further to help others develop and gain the skills needed for a successful future. Continuing our commitment in 2023 Last year was a good start for our PurePossiblities program, and a great example of what’s possible when an organization prioritizes people and community. It’s by no means the finish line. We’re looking forward to further extending our support and making even greater contributions in 2023. At PureFacts we have a vision of worldwide wealth, and ensuring people have their essential, educational, and employment needs met is one way we can help make that vision a reality.
PureFacts 2022: A look back
As we embark on a new year, it brings an opportunity for reflection. For investors, wealth advisors, and asset managers, this is a good occasion to evaluate what worked last year, what didn’t, and what could be done differently as you begin 2023. For us here at PureFacts, the beginning of the new year is a natural time to check in on the progress made against our goal to help our clients, and their investors, live their best lives possible through better wealth management. Here are just a few of the ways we’ve furthered that mission in 2022. Deepening our connection with the international wealth and asset management community With travel restrictions loosening, 2022 was the year the PureFacts team got back on the road to reconnect face-to-face with the wealth and asset management community. We were honoured to participate in The Summit for Asset Management (TSAM) in London, New York, and Toronto, as well as the TSAM ESG conference. In addition to these events, we also participated in the annual MMI Conference, the Aviso Wealth Elevate Conference and The World Business Forum. At each event we were inspired by the amazing work our clients are doing for their investors. We were also excited to see topics like, AI, ESG, and digital transformation dominate panel and speaker sessions, giving us the opportunity to share our insights and extensive experience in these areas with other innovators in wealth management. Giving back with the launch of PurePossibilities This past year was also one where we made corporate social responsibility (CSR) an even greater priority. Making a positive impact has been a cornerstone of how PureFacts operates from day one. Our mission is to create meaningful wealth solutions that help people live their best lives Our solutions and services help those who manage wealth ensure their clients get the best and most accurate guidance Our employees share core values that include being humble and purposeful in everything we do Founder and CEO Robert Madej, President Rajini McRae, and many PureFacts employees come from modest means. They’ve seen, firsthand, what can be achieved when there is guidance in financial investments and education So in 2022 we defined and formalized our model for CSR with a comprehensive corporate citizenship program called PurePossibilities. Based on Abraham Maslow’s Hierarchy of needs, the program is designed to make a community and social impact in the following areas: essential needs, support in education, and meaningful employment. The program has grown quickly and is already starting to make a difference in communities – helping PureFacts recognize its vision of worldwide wealth. Prioritizing ESG Last year saw a rise in more conscientious investing. No longer prioritizing growth at all costs, investors, particularly young investors, see environmental, social, and governance (ESG) principles as more important factors when choosing where to invest their money. Companies ranking sustainable and ethical impacts are becoming far more attractive for clients and investors. In 2022 we shared our position regarding ESG and its impact on markets with speaking engagements at various conferences like TSAM, where we discussed the Future of Wealthtech and ESG and in the following piece: ESG – a trend that is definitely here to stay. We also continued to make support for wealth and asset managers working with ESG products a priority with ongoing development of tools to help score and evaluate ESG assets. Being recognized as a trusted voice in WealthTech Beyond events, new programs, and staying on top of investment trends, 2022 was also a year that showcased PureFacts’ thought leadership, talent, and industry expertise. PureFacts was featured in several publications, including the : The University of Waterloo Math Alumni Newsletter: wrote about the resilience and perseverance of CEO Robert Madej and his mother, 30 years after graduating together. CTV: interviewed Robert about creating sustainable communities and expanding access to wealth and the PurePossibilities program com: published an article written by PureFacts President Rajini McRae explaining the importance of neurodiversity in the workplace and how it appears in PureFacts’ corporate culture. The Globe and Mail: interviewed Robert on the role of AI in wealth and asset management. Wealth Professional covered PureFacts in a variety of articles about trends in the wealth management space, including: AI-powered future for financial planners; the Moneyballing of wealth management; and how technology may be the key to next-generation KYC. The company was also recognized for its leadership in wealth and financial technology. In addition to several awards, the team was humbled to be included on the 4th annual WealthTech100, the AIFintech100 and the global ESGFinTech100 lists. Looking Forward The groundwork set in 2022 positions PureFacts to deliver even more value to clients, communities, and the wealth and asset management industry in 2023. A heartfelt thank-you to all our clients, vendors, and partners who enable our growth and success year after year. In a few weeks, we’ll shed some more light on priorities for the upcoming year. In the meantime, subscribe below to receive more information about what’s to come, and other relevant tips, trends, and guidance to improve your fee billing, client onboarding, and wealth and asset.
PureFacts launches program for sustainable and meaningful community growth
PureFacts Financial Solutions has launched a comprehensive corporate citizenship program called PurePossibilities. The program was designed to help people in three main areas by providing essential needs, support in education, and meaningful employment. The heart and vision of PureFacts is to see a day where everyone has financial well-being and are given the opportunity to live their best life. CEO Robert Madej, President Rajini McRae and many PureFacts employees come from humble beginnings, and PurePossibilities endeavours to provide a leg up to many such people, in the hopes that someday we achieve Worldwide Wealth. “Many people in the PureFacts family have the advantage of a formal education, with all their basic needs covered, such as a place to live, access to food and clothing,” said Robert Madej, founder and CEO of PureFacts Financial Solutions. “By creating PurePossibilities, we are hoping to strengthen our communities and improve lives.” PurePossibilities is based on Abraham Maslow’s hierarchy of needs, in which essentials are layered from more concrete physiological needs (food, clothing and shelter) to safety (job security) and finally, self-actualization (pursuing goals). Furthermore, through this program, there is a hoped-for flywheel effect, in which individuals will give back to their communities once they have secured jobs and are meeting their own goals in life and career. Introduced by Jim Collins in his influential book Good To Great, the Flywheel Effect illustrates that “companies don’t become exceptional as a result of a single intervention or initiative, but rather from the accumulation of little wins that stack up over years.” In recent years, The Flywheel Effect has been used to help community revitalization efforts in Detroit. “We are trying to help individuals get a leg up in financial wellbeing so they too can create more opportunities for others,” said Rajini McRae, President of PureFacts Financial Solutions. “What differentiates this program is that our employees provide mentorship to help scholarship recipients land a job at PureFacts or in our network. Through employment they start the process of financial wellbeing and can help others as well.” PureFacts has divided up its own three pillars to focus into separate programs, each dedicated to supporting individuals and communities for long-term successes. The Essential Needs program helps provide the bare necessities people need to survive, such as food and clothing. To date, PureFacts and its 140 employees provided food security through The Daily Bread Food Bank, it raised $10,000 in support of Ukraine, and partnered with LIGA Foundations in Lisbon, a non-profit institution that trains people in situations of vulnerability. The PureScholars Education program helps lift individuals out of hardship through education. Scholarships to date are provided to multiple schools across Ontario, (the Rotman School of Management and the Faculty of Applied Science and Engineering, both at the University of Toronto; the University of Waterloo; and the University of Guelph.) The target student is one who has good grades, is involved in their community, and has financial needs. The program has provided $132,000 worth of scholarships for more than 30 students over five years. The Employment program helps enable self-actualization through meaningful employment. It does so by offering mentorship, networking opportunities and interview preparation assistance so recipients achieve financial wellbeing and can give back to others. PurePossibilities has already paired two PureFacts employees with mentored students in this program. “The pandemic has accelerated the need for PureFacts’ PurePossibilities program,” said McRae. “And while the program is growing faster than the team had anticipated, PureFacts is excited about the possibilities of making a difference in the community and towards its vision of Worldwide Wealth.” About PureFacts PureFacts is a global company serving over 100 clients with a combined one trillion in assets under management across Canada, the USA, and Europe. PureFacts’ wealth-tech solutions help some of the largest and most recognizable global wealth management firms increase productivity, reduce costs, and create an enhanced customer experience. Its solutions help firms retain their most valued clients, minimize time that advisers spend on fact finding to deliver high quality advice, and prevent costly mistakes through data anomaly detection.
Robert Madej at TechExit.io | Closing acquisitions during uncertain times
Robert Madej, our PureFacts Founder & CEO, spoke at the TechExit.io event about how PureFacts defied the odds and successfully closed two significant acquisitions in 2020 to become a truly global firm. Regular M&A activity is an essential component of our company’s strategic plans for growth. In this video, Robert shares his insights on how PureFacts overcame valuation and due diligence hurdles to acquire two companies during such a challenging period and what his team learned from the experience. Buyside Drilldown – Closing and holding down acquisitions in uncertain times Here are some highlights from the panel discussion: Transactions PureFacts closed in 2020 How COVID impacted the due diligence process How COVID affected deal structure and value determination Key considerations for integration post-transaction TechExit.io is the go-to event for technology industry players who want to understand the ins and outs of selling – or buying – technology companies. This event is not just for tech companies looking to exit in the near term – it is about being “M&A ready” from day one. TechExit.io is the only conference of its kind in Canada – focused solely on mergers and acquisition strategies for technology companies.