Getting The Philanthropy Strategy Right For HNW Families
It’s the season for giving – and families may be thinking about how to best implement a strategy for philanthropy. In this Q&A with Family Wealth Report, Wingspan Partner Maryann G. Bell discusses why giving away to good causes isn’t a simple exercise if families want to be impactful.
“While most high net worth families are very generous and want to give back (90% of HNW investors give to charity), giving away money is more difficult than it appears,” says Maryann. “To whom do you donate? How much? Is it a one-time gift or multi-year? How do you evaluate success?” In the article, Maryann delves into why strategy and advisors are important to crafting a plan to make sure philanthropy is not only impactful but sustainable over time. Families should treat philanthropy not as a one-off “writing a check” but as much a part of their legacy as a family business.
Read the article in Family Wealth Report to learn more.