Wealthy philanthropists frustrated by lack of good advice - research shows
A new study has shown that wealthy philanthropists can be frustrated by the difficulty in getting good advice on how to give their money away.
The research - Philanthropy amongst ultra high net worth individuals and family offices in Europe: The United Kingdom, Switzerland, and Germany - was commissioned by New Philanthropy Capital (NPC), Wise, and the Bertelsmann Foundation, and conducted by Scorpio Partnership, the wealth management consultancy. It was based on in-depth interviews with 34 ultra high net worth individuals and family offices in the UK, Switzerland, and Germany. Respondents had a net worth ranging from $90m to $2.5bn and on average give away around 5% of their net worth each year.
The study found that many wealthy individuals or families have a clear idea of what they want to achieve, but wealth management advisors are not currently meeting clients’ needs. The study also highlighted the desire for more networking opportunities with like-minded donors.
For information and to access the full report, visit New Philanthropy Capital.