Cheshire-based Financial Planner Equilibrium has launched new charity fund to fight child poverty in the north-west of the UK.

Equilibrium will provide a total of £60,000 in funding annually to smaller charities with a turnover off less than £1m in the region through its Equilibrium Foundation

Equilibrium is a Chartered Wealth manager and Financial Planner based in Wilmslow.

The Equilibrium Foundation Grant Awards will centre on a different theme each year. This year the focus is child poverty.

According to the Financial Planner, 34% of children in the north-west currently live in poverty (compared to 28% in the rest of England), and 1.1m homes in the north have failed to meet ‘decent homes’ criteria.

With the cost-of-living crisis damaging many families’ ability to pay bills, the inaugural donations will support charities which are helping to address the geographical imbalances that exist within the region.

The winners of this year’s awards will be announced in July.

Sarah Warburton, head of culture and trustee of the Equilibrium Foundation, said: “There are countless charities doing vital work in our community and beyond that most people will never get to hear about unless we actively give them the opportunity to introduce themselves.

“We already support a wide range of charities across the north-west through our Community Support Scheme and the Equilibrium Foundation Grant Awards will ensure that we give where it matters most.”

Established in 2010, The Equilibrium Foundation has been supporting charities across the north-west through its Community Support Scheme since 2015 which provides grants of up to £500 to five winners every six months. The foundation has also launched a financial skills programme which aims to equip children with a financial understanding that will carry them through life.

So far, the foundation has raised over £750,000 for charitable organisations and aims to raise £4m by 2028.