Presenting Philanthropy Impact’s Market Research
This is the second event in Philanthropy Impact's Growing Modern Philanthropy series.
Philanthropy Impact commissioned research mapping the level of philanthropy advice amongst professional advisers (383 firms) and surveyed HNWI (503 respondents). The mapping outlined three stages of philanthropy advice to individuals and families of wealth.
One in five of the UK’s advisory firms offer philanthropy advice and the depth and breadth of the advice vary significantly. On average the UK’s wealthy population gives a score of just 5.9 out of 10 to the philanthropy advice experience they receive from their professional advisers suggesting there is room for improvement and also a business opportunity.
Philanthropists who take professional advice give more than those who do not. There are approximately 340,000 wealthy individuals in the UK (with more than £1 million in investable wealth). In 2015, we estimate they gave £1.3 billion to good causes. While only 12% of the UK’s wealthy population received advice from professional advisers, their donations accounted for 58% of the total (£770 million). By increasing the number of professional advisers who give philanthropic advice to individual and families of wealth we believe that philanthropic giving would increase exponentially.
At this event, we will present our research and the speakers will discuss the implications of the research leading to more and better giving.