The company says the money will enable its Openwork Foundation to help 46 charities and support 7,400 vulnerable children and young adults.
The foundation (formerly known as the Allied Dunbar Foundation and then the Zurich Advice Network Foundation) has raised £19.7m since it was inaugurated in 1981.
Openwork is one of the UK’s largest advisory firms with over 3,800 financial advisers in the UK. It operates as a directly authorised, multi-panel distribution network.
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Regular monthly donations from Openwork Partners, advisers and staff were a major source of funds contributing £223,000 during the year to the charity which helps disadvantaged children and young adults in the UK and abroad.
Fundraising activities in the past year included an overseas cycle challenge, with 27 participants cycling the 400km between Hanoi and Saigon, raising £100,000 for the foundation. Other major fundraising efforts included the London Marathon, Prudential RideLondon 100, and the Royal Parks Half Marathon.
‘Cares4Kids’ is the Foundation’s current theme, designed to support disadvantaged children in the UK and overseas, up to the age of 18 years. Presently, the Foundation’s current national charity partner is my AFK, a charity which provides and maintains mobility equipment for children and young adults across the UK.
Sam Tesch, Openwork Foundation Manager said: “Every year we are blown away by the support the Openwork advisers and staff give to the Foundation and I am incredibly proud of what we have achieved in the past 12 months.
“The money raised has and will continue to transform the lives of thousands of children and young adults across the world.”
Plans for 2019 at The Openwork Foundation include a range of key national fundraising events such as the London Marathon and Prudential RideLondon 100, as well as organising several bespoke events, including The Openwork Sleepout in September and the Openwork Charity Evening at Lords in October.
The Openwork Group is majority-owned by the Openwork Partnership LLP with its employees holding a minority stake. Former owner Zurich has gradually reduced its stake.