CASE STUDY

Why Diane McCrea moved her pension and ISAs to The Path

Diane McCrea lives in Cardiff Bay, which she moved to from London 18 years ago.

Her career has been in food, environment and sustainability, including organic farming. She has served as Chair of Natural Resources Wales and homeless charity, Shelter Cymru, and is now Chair of the Board of Trustees at Sustain Wales.

Diane explains:

I’ve always been interested in green issues, including being involved with Friends of the Earth in London in the 1980s. It was a fabulous time. We were quite radical but clearly not radical enough to prevent the dreadful decline in biodiversity and the ravages of climate change.

I have been lucky to follow my interests and passions throughout my career, working for things I believe in. Most of the jobs I’ve held have been in the public sector – in one sense I’ve never followed the money, so I have had to be careful to plan for my own financial security.

There is so much talk about sustainability. Everyone is thinking about the green recovery. That’s all well and good but we’ve all got to make fundamental changes in how we live our lives. With climate change, we’re reaching the tipping point. It is up to all of us to be more responsible in the choices we make, including where we invest our money

Diane was introduced to David Macdonald, founder of The Path, at a social event where they had mutual friends who said they should talk to each other as they had shared interests. She has since moved her pensions and ISAs to The Path.

Diane says she feels that her generation owe it to future generations to think more carefully about where their investments are held.

She goes on to say:

I feel like my generation are sitting pretty. Most of us have had secure employment, we’ve bought our own homes and reaped the financial gains from property, and we’ve been in company pension schemes. Comparing ourselves to younger people, we have had enormous financial security and – as we reach our mature years – we really have not had to worry about money.

I don’t see moving my private pension to The Path as radical. I think of it as a bit of a no-brainer. Why wouldn’t you do it when it means good financial returns and investing in a greener future? I think people need to step up, take responsibility and talk about pensions. They need to ask where their money is invested, and how they can benefit from financial advice, rather than feeling it’s something to keep quiet about.

She also points out she had to be confident that she was investing wisely, as well as ethically:

No one is going to bankroll me. It’s just me and my dog. But once you know you’ve got your investments sorted, you can free up a lot of brain power that you can more usefully spend elsewhere and begin to enjoy the benefits of your financial planning.

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