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A new study shows that professional advisors are not meeting current demands in philanthropy.
Six out of ten professionals from private banking, multi-family offices, board members of foundations, lawyers and accountants with private clients, believe that philanthropy will soar in the next five years, and that it will become one of the key services offered to wealthy clients. Up until now, however, advisers have been working on a rather reactive or ad hoc basis and they do not meet the growing requirements of clients in philanthropical matters. The study also notes an increased desire on the part of wealth management advisors to enlist the services of specialists to advise clients on aspects of philanthropy outside their field of expertise.
These results are from a new survey of 100 wealth management advisors in Europe made by Scorpio Partnership for wise - philanthropy advisors in Switzerland, New Philanthropy Capital in the UK, and the Bertelsmann Foundation in Germany. This study follows on from an earlier one made in 2007 of major donors which concluded that 90% of wealth management advisors do not meet client requirements for philanthropic services.
full report (39 pages)
summary (4 pages)
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