PurePossibilities mirrors Maslow's hierarchy of needs and intends to create a community Flywheel EffectPureFacts 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.”
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.