Philanthropic Initiative study finds wealth advisors misread charitable giving motivations
Updated
Updated · InvestmentNews · May 4
Philanthropic Initiative study finds wealth advisors misread charitable giving motivations
5 articles · Updated · InvestmentNews · May 4
Surveying 300 advisors and 103 high-net-worth clients, it found only 61% of clients were highly satisfied, while 90% of advisors now routinely raise philanthropy.
Clients ranked making an impact, feeling good and giving back as top motives, while advisors overemphasised inspiring others and tax benefits; clients' main concern was gifts being used poorly.
Use of formal giving vehicles rose to 78% from 43% in 2018, and 85% of advisors said they plan to deepen philanthropic expertise as firms seek stronger client and family relationships.
As new tax laws reshape charity, will more small donors outweigh the loss from fewer mega-gifts?
With advisors and wealthy clients misaligned on giving, who is truly shaping the future of philanthropy?