The event is an example of how wealth managers embrace sports and charity as a way of connecting with their clients' concerns and promoting their brands.

A team of cyclists from the wealth management services provider, Brooks Macdonald, embarked on a gruelling 400 kilometre journey across the length and breadth of Mallorca, raising £23,000 ($28,096) for two charities.

The Wave Project and Great Ormond Street Hospital Children's Charity were nominated by Brooks Macdonald’s employees and selected through a company-wide vote. Great Ormond Street Hospital, established in 1852, is a world-renowned centre for paediatric healthcare. The Wave Project, based in Cornwall, uses surf therapy to support the mental and physical wellbeing of young people.

Over four days, the 16 riders travelled around the whole island, conquering challenging terrains and steep inclines. According to the report Brooks Macdonald’s conviction is that businesses have a crucial role to play in helping make communities better. 

Wealth management firms, such as Brooks Macdonald, like to support certain causes for various reasons, including creating a team spirit among employees, and reminding clients of their values. 

In 2016, Carnegie Smyth, a senior wealth manager in the UK, ditched his usual work attire to cycle 1,000 kilometres in 10 days and then complete 10 Olympic sports during that period – all for a good cause.