Service Providers are Looking to Build Long-Term Relationships with Their Clients

Monday 3 February 2014, Amsterdam

The philanthropy market has been of much discussion between high net worth individuals (HNWI’s) and wealth advisers. With tax benefits being key reasons in the past for philanthropic giving, this has been found to seriously undermine the donor in a number of ways.

With a history of philanthropic involvement and a well established market, the US and Europe make up 60% of the HNWI’s around the globe. It should be noted, however, that emerging economies such as China and India also account for a considerable number of HNWI’s who are primarily focused on accumulating wealth, rather than charitable donation. Other notable regional patterns include those of Latin American and African nation whom are significantly reliant on the church or the government for the development of their socio- economic status. However, this scenario has been changing rapidly since the beginning of the century.  

As a consequence of the economic growth in the last two decades in these regions, philanthropic involvement from HNWI’s has increased, a pattern which is expected to continue between 2013-2017. These emerging economies are also noting an influx of wealth management firms to provide the necessary required products and services required in the relative region.