The 340,000 individuals in the UK with more than £1m of investable wealth give some £1.3b annually to good causes. New donors rapidly discover that success in one field is no guarantee elsewhere and that a new set of capabilities and values are needed, plus significant investment in understanding the process.
They also struggle to find a suitable adviser, most of whom are seen as reactive with little awareness of their impact. Advice on the donor journey is also usually delivered in a haphazard fashion. However, people of wealth who are well advised give up to 17 times more to good causes.
The Philanthropy Club, built on the extensive MPF membership base, lies at the heart of the campaign to encourage sector leaders to restructure relevant sections of their firms to help their own partners and clients of wealth through the donor journey. This could raise another £500m annually for good causes.