Choose carefully: thoughts on philanthropy’s bankers

Karin Jestin

Passionately convinced of the need to advance philanthropy, I welcome banks’ engagement on this issue, as highlighted in the article on banks acting as philanthropy advisers in the September 2016 issue of Alliance. The more wealth advisers are acquainted with how to deliver social impact, and its many related challenges, the better. The same is also true for lawyers, tax experts, trust managers and other financial intermediaries. As wealthy individuals’ trusted advisers, they are strategic and powerful ‘entry points’ into philanthropy. That said, one should indeed be aware of the potential shortcomings and risks, as highlighted throughout the article.

I believe a few targeted questions can help a donor separate the wheat from the chaff:

  • How knowledgeable and experienced in the social sector is the philanthropy adviser who will accompany you? Will you be given references to talk to in confidence to understand their value-added?
 
Next Letter to read

Engagement needs more time to prove itself

Julian Poulter