IFA develops trading algorithm with philanthropic twist

Donated more than £1,000 to cancer charity

Jenna Brown
clock • 2 min read

Woodward Financials has developed a trading algorithm with a philanthropic pledge to give 50% of all gains to charity.

Victoria's Promise, which supports young women with cancer, received £1,040 after algorithm creator and Woodward Financials managing director David Woodward picked it as his chosen charity. Woodward used his algorithm to invest £1,000 of his own money. It made 32 profitable trades which netted more than 200% with zero losses. The profits from the endeavour, £1,040, were then handed over to the worthy cause. Victoria's Promise is a non-profit charitable organisation that supports young women who are facing a cancer diagnosis. The charity aims to instil a sense of empowerment and fortit...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Your profession

PA360: Advice firms 'brush over' data integrity fundamentals

PA360: Advice firms 'brush over' data integrity fundamentals

‘Your business and your people are under attack constantly’

Isabel Baxter
clock 25 April 2024 • 1 min read
PA360: The need for a financial plan 'has never been higher'

PA360: The need for a financial plan 'has never been higher'

‘It needs to be done in a different and innovative way’

Isabel Baxter
clock 25 April 2024 • 2 min read
PA360: Potential pitfalls for advisers amid push for AI integration

PA360: Potential pitfalls for advisers amid push for AI integration

Advisers must be not be ‘deceived into believing AI can solve all problems’

Sahar Nazir
clock 25 April 2024 • 1 min read