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Rich need better advice on giving away money
1 December 2007
Alliance magazine
Wealthy donors and would-be donors are finding it difficult to give their money away because they lack good advice on how and where to give it, according to a new study. While many survey participants had a clear idea of what they wanted to achieve, they had difficulty finding qualified independent advisers to guide them in devising a philanthropic programme and selecting suitable recipients.
‘Lawyers and private bankers are very good at providing technical advice, but … cannot tell you if a philanthropy project will provide you with value for money,’ said one participant. Those surveyed said they would be willing to pay for advice and support tailored to their needs.
