Doing well at doing good: Why there's more to giving than checkbook philanthropy
Most investors happily embrace—and act on—the impulse to give back. But a survey of high net worth investors reveals a common thread of uncertainty about the effectiveness of their donations. The latest issue of UBS Investor Watch yields surprising insights into why and how givers give—and how gender and age may shape their approach to philanthropy.
Virtually everyone gives—but very few believe their giving is effective. In the past year, nine out of ten millionaires have either volunteered or donated. But for many, “giving back” means writing checks—typically to an assortment of causes. Only one out of five givers considers their approach highly effective.
Women and men approach giving differently. Men are motivated by a sense of personal responsibility, while women are more likely to lead household decisions on giving, volunteer their time and donate to causes they're passionate about.
Millennials are redefining philanthropy. Contrary to fitting the stereotype of being lazy or self-centered, Millennials as a group are more engaged with philanthropy than their Boomer parents. They are also more intent on aligning investing, purchasing and career decisions with their core values. In fact, Millennials' behavior points to the future of philanthropy.
Thoughtful planning drives confidence in giving. The uncertainty about the effectiveness of giving is significantly lessened when people take a planned approach. By incorporating philanthropic strategies into their plans, they can optimize their giving and feel that it has greater impact. Although few people currently receive advice from their financial advisor about giving, those who do are much more satisfied with the impact of their giving.
Products and services mentioned on these web pages may not be available for residents of certain nations. Please consult the sales restrictions relating to the service in question for further information. http://www.ubs.com
© UBS 1998-2015. All rights reserved.
Wealth management services in the United States are provided by UBS Financial Services Inc., a registered broker-dealer offering securities, trading, brokerage and related products and services. Member SIPC. Member FINRA. UBS Financial Services Inc. is also registered as a Futures Commission Merchant (FCM) with the U.S. Commodity Futures Trading Commission (CFTC) and offers brokerage services related to the execution and clearing of on-exchange futures and options on futures products. Member NFA
Notice for Non-U.S. Investors. Order Routing Disclosure. Statement of Financial Condition. Statement of Financial Condition- UBS FSI of Puerto Rico. Best Execution Statement. Loan Disclosure Statement. Account Sweep Yields. Advisory & Brokerage Services. CFP Board's Trademark Disclaimer. Important Information About Auction Rate Securities. Futures Commission Merchant (FCM) Information for UBS Financial Services Inc.