Increasingly, solicitors, accountants, financial planners and wealth advisers are expected to help clients think about their legacy, purpose and the impact they want to make in the communities around them both during their lifetime and after they pass away.
For many professional advisers, conversations around wealth are becoming broader than financial performance alone – so understanding the most efficient and impactful routes into local giving is key. Recent reports from Charities Aid Foundation (CAF) show that 60% of clients think it is important for advisers to understand philanthropy, and 93% said they found a discussion about philanthropy with their adviser beneficial. Despite this, philanthropy is not yet consistently embedded in advice conversations, and many advisers feel like this is not their area of expertise.
At HIWCF, we regularly advise individuals, families and businesses who want their giving to create meaningful local change, but who are often unsure where to begin. They may wish to support causes close to their hearts, involve the next generation in family philanthropy, establish a lasting legacy, or simply ensure their charitable giving is strategic and well managed.
HIWCF can also play an important role supporting professional advisers. We work with donors and their advisers to create flexible, tax-efficient giving arrangements that align with a client’s values and interests. Through named funds and other philanthropic models, clients can support local causes ranging from youth opportunity, employment and skills development to community wellbeing projects and cost-of-living support – and much more, all while benefiting from our deep local knowledge, due diligence and grant management expertise.
For advisers, we essentially provide a free bolt-on service because partnering with a community foundation can help simplify the process of charitable giving. Rather than advisers or their clients having to do the leg work of identifying and assessing credible organisations and assess impact, we provide a trusted, professional route into local philanthropy, connecting funding to carefully screened grassroots organisations and community initiatives that are making a real difference across the region. For clients, it is a cost-effective and local alternative to setting up a charitable Trust or other more complex vehicle for giving.
Recognising the value of building relationships and shared learning within the professional adviser community, we host a series of intimate networking drinks events across the county for advisers, creating opportunities to connect with peers, discuss trends in modern philanthropy and learn more about local giving in the region.
As conversations around social impact and legacy continue to grow, local philanthropy is becoming an increasingly important part of wealth and estate planning.
To find out more about working with us, or to hear about future professional adviser events, please get in touch with our team: philanthropy@hiwcf.com