Remaining committed to its engaged approach to philanthropy, Shaw and Partners’ second Foundation Institutional Day has raised $241,983.

The inaugural Foundation Institutional Day initiative was launched last year, with Shaw and Partners pledging to donate all brokerage generated through institutional trades to charity. Last year more than $110,000 was raised for JDRF and Beyond Blue.

This year the fundraising target was set at $150,000, but was exceeded by just shy of $100,000. All proceeds will be donated to the Australian Stockbrokers Foundation and the Australian Fund Manager Foundation; which support a plethora of smaller charities including Sydney Children’s Hospital, Lou’s Place Women’s Refuge, Odyssey House, Mission Australia and Second Bite.

Shaw and Partners Co-CEO, Earl Evans said the decision to donate to the Australian Stockbrokers and Fund Managers’ Foundations was a way of unifying the industry and getting the word out to other financial services firms to encourage them to do the same.

“While our people are very active in fundraising throughout the year, this has become our biggest event and the one in which we aim to raise the most funds across our offices nationally,” Mr Evans said.

“Institutional fundraising days, like this, help us to use the wealth in our industry imaginatively and constructively and to instill and perpetuate real change in the communities in which we work.

“Corporate organisations have a social responsibility to give back to the communities they work in. Our people are very proud of our Foundation and what it does for the community,” he said.

The Shaw and Partners Foundation was established in 2015 to provide a platform for greater participation in community service. The Foundation seeks to strengthen communities through financial support, volunteering and skills sharing.

Mr Evans said he was thrilled that Shaw and Partners came in so far over its target, but he expected the charities that will be helped because of this fundraising will be even more pleased.