The Personal Finance Society has launched a new ‘good practice’ guide to explain how financial advisers might adopt value-based investing in their client recommendations where appropriate.

Supported by the Government's independent advisory group on social impact investing and the Department for Digital, Media, Culture and Sport, the guide will incorporate a link to a bespoke ‘conversational tool’ on three levels, tailored to suit different adviser capabilities.

Each features a series of exercises that will enable clients to articulate their preferences on investments that create impact.

PFS chief executive Keith Richards said: “For some time now there has been evidence of a growing interest in schemes that incorporate a ‘value-related’ component, with more than half of individual investors expressing an interest in social impact investments.

“We are aiming to provide guidance on, and give an overview of, this growing market - including recent government and regulatory activity - to help those investors with an interest in social impact investing to align their savings, pensions and investments with their personal values.”

Tracey Crouch MP, Minister for Civil Society, said: “The UK is a pioneer for social impact investment and this guide supports our commitment to make it easier for people to invest in this way.

“I urge every financial adviser to take a look at the guidelines and help their clients invest in a way that can help make a positive impact on issues they care about.”