This quarter’s Minnesota B Corps spotlight is on Bond & Devick Wealth Partners.
Founded in 1982 by Penny Bond, one of the first female financial planners in the country, Bond & Devick is a fee-only, fiduciary, comprehensive financial planning firm. The firm adds value to clients by creating a financial plan based on their goals and circumstances. Bond & Devick runs retirement projections that help clients define their goals and design a financial plan to help them toward achieving those goals. Further, the firm aligns clients’ investment portfolio with their values as well as implement tax strategies, review estate plans, and charitable gifting strategies.
Why did Bond & Devick become a B Corporation?
Many financial planning firms make claims that they care about their team, their clients, and the community. By becoming a B Corp we have a 3rd party who validates those claims. Our B Corp status helps us stand out from our competition and is another way we differentiate ourselves from other firms.
What has been the most rewarding part of the decision?
Increasing the awareness of the B Corp movement has been rewarding, but one of the biggest rewards has been that one of our employees found us when she searched for B Corps in Minneapolis and was really interested in working with a company whose values aligned with her own.
How is your company using business as a force for good and demonstrating a commitment to the B Corp values and mission?
We are active and vocal in the financial planning community, aiming to be an example of how our industry can do better. We have done many things to make us a better community partner by changing where we buy our office supplies, our coffee, and our furniture.
We recently moved and we worked diligently to hire local, BIPOC business owners to provide us with sustainable office furniture. We continue to be a voice for sustainable and responsible investing as a way to combat climate change but also make our society more just and equitable. We are mentoring BIPOC advisors and two small BIPOC business through our relationship with the Minnesota Black Chamber of Commerce. We give back to the community through frequent volunteer events both with our clients and through financial contributions.
Who are some of your role models in the business community? Who or what company can we all learn from?
Sunrise Banks is one of our role models – they were the first B Corp in Minnesota and they are a true role model on how to be a force for good and change. We also appreciate that Patagonia only provides corporate clothing for other B Corps – this is a great incentive for other firms to check out the B Corp process.
What are your goals as a B Corp and what accomplishments are you most proud of since becoming a B Corp?
Our goal is to continue to improve our B Corp score, continue to be open to new ideas and ways of doing business that have a greater impact on our community. We also advocate for B Corps by supporting other B Corps when purchasing goods as well as talking to other companies about the importance of being a B Corp in hopes they considering becoming one themselves.