My summer reading included Rhodri Davies’ fascinating new
book ‘Public Good by Private Means: How Philanthropy Shapes Britain’. In it I
was delighted to learn that Charles Dickens was a philanthropy advisor. In the
late 19th century he advised Angela Burdett-Coutts on her giving and
helped screen and select applications. As a philanthropy advisor myself, it was
pleasing to find myself amongst such illustrious company.
So how has philanthropy advice developed since Dickens’s day?
When setting up my consultancy business, the advice I was given fell into two
main camps:
- People don’t value philanthropy advice and won’t pay for it;
- This is an under-developed market in the UK and likely to grow.
Obviously I am banking on 2. being correct. So it was
interesting to read Cath Tilotson’s latest research into the philanthropy
advice market in the UK for Philanthropy Impact (see link). The research found
that only 1 in 5 professional advisory firms (accountants, tax advisers, wealth
managers etc.) offered philanthropy advice and then it was patchy. And Joanna Walker states in her white paper
for Boncerto (see link): “the philanthropy advice sector has largely remained
static over the last few years - when by now it should have fulfilled its
enormous potential”.
There are a number of philanthropic advice specialists in
the UK such as CAF, New Philanthropy Capital, Boncerto and I am aware of some
sole traders and other small outfits like me. But this is nothing compared to
the size of the industry in America where philanthropists can access 1,300
Chartered Advisors in Philanthropy alone. There is clearly much still to do to
make the case for and grow philanthropy advice in the UK.
There is a real opportunity here – with gains not just for
advisors but also for those they support since those wealthy individuals who do
seek advice tend to give more.
So whether a Dickens or not – do contact me if you are a
Philanthropy Advisor. It would be great to discuss how we raise our profile
together. And if you are one of the 4 out of 5 private client advisors who don’t
yet offer philanthropy advice, please get in touch.
Learning to give:
lessons for advisers and would-be philanthropists in Philanthropy Impact
Magazine Issue 12: Special Edition June 2016
Growing philanthropy advice - Joanna Walker for
Boncerto July 2016
Emma Beeston Consultancy advises funders and
philanthropists on giving strategies and processes; researching and scoping
options; selecting causes and charities; assessments and impact monitoring.
www.emmabeeston.co.uk ; emma@emmabeeston.co.uk; emmabeeston01