Author: by Chloe Barrow
Private banks seem to be engaging their clients more and more in philanthropy, shown yesterday when Barclays launched a philanthropic guide – the first of its kind in the industry.
Speaking to Spear’s, head of client philanthropy at Barclays Wealth and Investment Management Emma Turner, who created the guide, explained that it had been developed to reach out to more of its clients about the bank’s free philanthropy services, which includes advice, industry research, master classes and workshops.
‘More and more people would like to do it, but it’s just a question of getting around to it. Some people don’t have a spare hour in the day or perhaps the kids have left home and they have more time now but don’t know how to go about it. The guide aims to signpost people in an easy way on how to give effectively and make them realise it’s not as complicated as they might have thought,’ she said.
Philanthropy: Your Guide to Giving provides step-by-step advice and answers questions about key aspects of charitable giving, featuring snippets from experts in the field and founders of charitable causes including Sir Thomas Hughes Hallett, founder of the Emily Hughes-Hallett Foundation, Victoria Hornby, director of grants of the Royal Foundation of the Duke and Duchess of Cambridge and Prince Harry, and David Gold, who worked in the City for twenty years and now runs charity recruitment company Prospectus.
‘Philanthropy advice is a reasonably new marketplace. So there hasn’t till now been a clear-cut path to embarking on this course – such as, for example, when you decide to buy a house and you know that you need a lawyer, a surveyor and perhaps some form of mortgage plan. This guide will hopefully provide some clarity to our clients on how to go about philanthropic activities and get it off their longstanding to-do list,’ said Turner.
However, while there has been some increase in philanthropic activities of late, a report shows that there is still some way to go. Recent research by Barclays revealed that 48 per cent of HNW individuals in the UK plan to give to charity during their lifetime.
‘[Philanthropy advisory services] are still quite unusual in this country. We let people know it is available to them but we are very unpushy about it,’ says Turner. Hopefully the new guide will give HNWs that much needed push in the right direction.