Fresh Thought Leadership from the Philanthropy and Social Impact
We would like to highlight pieces of recent thought leadership from faculty and members within the UHNW Institute Community.
The Philanthropy and Social Impact Domain has been considering the implications of the call to action of Wealth 3.0 and how they intersect with philanthropy and social impact. The below three things stand out most prominently:
- Wealth 3.0 adds greater emphasis on intrinsic motivation and calls for purpose as a driver rather than fear. It seeks to help families identify and leverage their strengths. Philanthropy is an excellent mechanism to help individuals and families find purpose and thrive.
- Wealth 3.0 takes seriously social critiques of inequality and helps families respond in constructive ways to share their good fortune. Many wealthy families are struggling to process the intractable issues of our time and are concerned about the growing wealth and achievement gap, which often feels untenable. These families are seeking agency and positive action.
- Finally, Wealth 3.0 calls for more rigor in client management and increased collaboration across domains. Family advising must embrace more structure and rigor to achieve the most positive results. This is particularly true in the Philanthropy and Social Impact Domain, where professional advising is more nascent, with fewer formal competency, assessment and ethical standards.
The Institute attracts leaders looking to evolve their fields of practice, and the Philanthropy and Social Impact Domain includes experts dedicated to this mission within the domain and beyond. Below are some recent illustrative thought leadership pieces:
This article by experienced philanthropy advisor Sharilyn Hale details how a Wealth 3.0 framework can advance the role of philanthropy in wealthy multigenerational families. Philanthropy is not a one-size-fits-all practice. Attempts to dictate philanthropy to enforce family collaboration can breed resentment and cause conflict. Wealth 3.0-guided philanthropy offers a more balanced and nuanced approach, advocating for a thoughtful philanthropic design.
Institute Member Daylight Advisors, represented by longtime philanthropy advisor and educator Tony Macklin, recently released results from an extensive survey on the philanthropic sector. The research presents the world’s first and most thorough study of philanthropy advisors and will support efforts to further professionalize the field and ensure advisors and clients can identify their needs and find the necessary support.
Betsy Erickson, domain chair from Arabella Advisors, partnered with the National Center for Family Philanthropy and Ideas42, a behavioral science research group, on a three-year study that included interviews with over 75 UHNW families. The report identifies ten of the most common barriers donors face and uses behavioral science research to explain how to move past them. Many of these barriers, and more importantly, the takeaway that most UHNW families experience and their overwhelming confluence of them, are relevant across domains.
Please reach out if you have questions about the thought leadership pieces mentioned above or if you need more information about philanthropy and social impact or collaboration between domains. Look out for a webinar in October as well.
