Philanthropy has
grown in stature in recent years with famous faces such as Bill Gates, Mark
Zuckerberg and Angelina Jolie all donating large sums of money to charitable
causes.
The US and
Europe account for 60% of the world’s HNWIs - the philanthropic involvement of
HNWIs in these regions is well established and has a long history behind it.
However, developing markets are recording growth in their HNWI populations.
China and India account for a significant number of HNWIs, many of which are
focused on wealth accumulation rather than giving it away.
The changing
dynamics of the global philanthropic sector are a primary concern for wealth
managers. It is expected that philanthropy service offerings will form a core
sector in the private banking sector in the years to come. This will require
wealth management firms to be more transparent and understand the point of view
of philanthropists as well as actively engaging in the sector to attain the
trust of their clients.
Many HNWIs
in the lower wealth bands are teaming up for philanthropic purposes. These
modern approaches to philanthropy are transforming it into a more organized and
impact-oriented sector, enabling wealth management firms to strengthen their
relationships with clients.
Philanthropy
in the Western economies generally revolves around donations of large amounts
of money and time towards charity. These two parameters also play an important
role in the emerging Asian philanthropic sector.
If you would like more information on this subject please visit our website or email us at marketing@timetric.com.
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Ettyenne Guimaraes
Marketing Executive
|
Marketing Executive
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