THE UHNW INSTITUTE OCTOBER THEME: THE NEW PHILANTHROPY
As October ushers in cooler temperatures and the start of the holiday season filled with treats, we’re thinking about giving and this month’s theme, The New Philanthropy, with our roundtable highlighting Research from the Philanthropy and Social Impact Domain to Support Practice, Education and Training.
We invite you to join Institute experts Betsy Erickson of Arabella Advisors and Tony Macklin of Daylight Advisors for a discussion with leaders from the Philanthropy and Social Impact Domain on October 24 at 4 pm ET.
Wealth 3.0 calls for more research and rigor in the next chapter of wealth management. During this session, we will delve into the findings from two recent research reports with rich analysis of the state of the philanthropic advising sector and the barriers donors face that impede their giving journeys. First, our expert panel will discuss the U.S. Philanthropic Advisors 2024: Professional Development, Practice and Knowledge Gaps report from Daylight Advisors. The research provides the world’s first and most comprehensive study of philanthropy advisors and will undergird efforts to further professionalize the field and ensure advisors and clients can diagnose what they need and find the support they require.
The panel will also examine a new report released by Arabella Advisors, the National Center for Family Philanthropy, the Bill & Melinda Gates Foundation and Ideas42, a behavioral science research group on a three-year study that included interviews with over 75 UHNW families. Overcoming Psychological Barriers to Giving – NCFP identifies ten of the most common barriers donors face and uses behavioral science research to explain the ways to move past them. Many of these barriers, and more importantly, the takeaway that most UHNW families experience and overwhelming confluence of them, are relevant across domains.
Key Takeaways:
Attendees will walk away with actionable insights, including:
- Increased awareness about the philanthropy and social impact domain and the landscape of advisors and skills
- Understanding of the psychological barriers donors face when ramping up their giving
- Insights on behavioral science concepts that you can apply to work in your domain with your clients
Institute members may register for the event and access related resources by visiting the event’s page HERE.
We’re also in final planning mode and excited to see many of you at the upcoming UHNW Institute Symposium in New York City on November 13 and 14.
The Fourth Annual UHNW Institute Symposium, The Future of Family Wealth Advising: Positioning Your Firm for Success, will explore the delivery of Integrated Family Wealth Management (IFWM) and our new Multiphasic Service Model. There will be discussions on family needs and trends, strategic considerations for firms, options relating to the delivery of integrated solutions, new service delivery models — structure and implementation, considerations for outsourcing and establishing strategic alliances, storytelling from peers and plenty of networking and time to connect.
An optional training session for Institute members on the Ten Domains of Family Wealth will be held from 2-4 p.m. on November 13, prior to our Welcome Reception.
The Training and Symposium are available for members to attend virtually or in person.
And finally, this month, we’re already off to a busy start with our second annual in-person Collegium in Chicago, with a powerhouse of thought leaders and experts in the industry discussing Firm Sustainability. We’ll be sharing an executive summary and takeaways from that event soon.
To align with this month’s topic on Philanthropy, the Institute has selected the following resources for members to explore to help deepen their knowledge and understanding of the theme prior to our upcoming Roundtable.
We invite you to discuss this month’s theme, share other recommended resources and join the conversation in our Community Forum on The New Philanthropy.
For further information or to inquire about membership with The UHNW Institute, feel free to contact us.
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PODCASTS
The UHNW Institute Podcast: Social Impact and Philanthropy
In this episode, Russ Haworth interviews Betsy Erickson, the chair of the philanthropy and social impact domain at The UHNW Institute. They discuss the role of the domain chair, the complexity of philanthropy, and the importance of integration across domains. Betsy also talks about the barriers that families face in philanthropy and the need for experienced advisors to guide them. They highlight the value of cross-domain learning and the work being done by the Institute to educate and inform both families and advisors. Betsy shares upcoming initiatives and resources in the philanthropy domain.
From the Center for Effective Philanthropy (CEP), Giving Done Right is the show with everything you need to know to make an impact with your charitable giving. Whether you’re donating a few hundred dollars a year, a few thousand, or a few million, you might find yourself wondering: Where should I give? How do I know which nonprofits are effective? How do I know if I’m really making a difference with my donation? Join hosts Phil Buchanan and Grace Nicolette as they welcome leaders and experts from throughout the nonprofit sector to answer philanthropy’s burning questions and bust some myths that have long plagued donors and nonprofits alike.
ARTICLES/REPORTS
Conducted by The Philanthropic Initiative in partnership with U.S. Trust
The vast majority of high net worth (HNW) individuals give to charity, and many feel that philanthropy is an important aspect of their wealth experience. HNW individuals are increasingly relying on professional advisors for support with their charitable activity. However, the philanthropic conversations with and advice provided by their advisors are not always aligned to their needs. To better understand the extent and dynamics of philanthropic conversations taking place between wealthy individuals and their advisors, U.S. Trust partnered with The Philanthropic Initiative (TPI) for the second time since 2013 on a study of advisors’ approaches to and HNW clients’ expectations of these discussions.
Strategic Time Horizons in Philanthropy – Key Trends and Considerations
Rockefeller Philanthropy Advisors | 2021
This is the first of two excellent white papers by Rockefeller Philanthropy Advisors on the important and often under-discussed area of setting a time horizon in philanthropy planning.
TOOLS & RESOURCES
The National Center for Family Philanthropy (NCFP)
NCFP is a network of philanthropic families committed to a world that is vibrant, equitable, and resilient, recognizing that inequity underlies all the issues they seek to address and critically examining what equity looks like in society, systems, family philanthropy, and within organizations.
