Lessons in Legacy, Chapter One: The Legacy landscape - Flipbook - Page 21
T
he data confirms that philanthropy and giving is increasingly a
key concern for families.
68% OF ADVISERS REPORTED THAT THEIR CLIENTS HAD INCREASED
THEIR GIFTING TO CHARITIES AND PHILANTHROPIC VENTURES IN
THE LAST 12 MONTHS.
SURVEY FINDINGS
Whether due to a desire, as identified by Warren Buffet, to give the next
generation a genuine range of options, as part of legacy building, or a
personal connection to a particular cause, responses to our survey point to a
significant increase in giving this year.
Beginning the philanthropic journey can help many clients begin to unlock and
create a clearer sense of purpose in connection with the wealth. The key is
beginning, even if it’s starting small.
As our views from the industry show, there can be concerns over how money
is spent by charities with increasing reports about governance issues at major
charities creating greater public mistrust. However, the philanthropic industry
has greatly expanded over the last decade, with a wide range of philanthropic
advice available to future donors to help them navigate the potential pitfalls
and develop the right strategy and structure.
Our survey results and feedback also show that clients like the opportunity
philanthropy provides to involve different generations. Given growing
differences in cross-generational attitudes, more and more UHNW and HNW
individuals are using charitable initiatives as a means of connecting with the
next generation and developing a philanthropic strategy that reflects multiple
interests not just the interests of one.
LESSONS IN LEGACY