More Philanthropists Turning to Advisors

A recent article in the Financial Times, Philanthropy: enter the strategists, discussed the growing trend of philanthropy advising and cited The Philanthropic Initiative as a leader in the field.  It went on to explain how professional philanthropy services go beyond legal and financial advice to help donors develop a strategy for their giving.  The hope is that by having a more guided and tactical approach, donors can have a deeper and more sustained impact on the issues that concern them most.

Throughout the last decade, philanthropic advisory services have seen a surge in popularity, but there are many who still question their value.  Individual donors and foundations often wonder whether time with consultants is money well spent, or if their funds would be more effective given straight to the cause.  Exacerbating these doubts is the plethora of philanthropy consultants today who have helped to bring recognition to the field, but who may not always be experienced enough to give the right advice.   

Despite these issues, philanthropy advisors have become a valued asset at a time when sending off a check is no longer enough.  In order to make a deeper impact, donors need to do more, and the newest generation of wealthy individuals wants to do more.  Donors are no longer satisfied by a simple promise that their money will make a difference.  They want to do more, they want to make a change, and be a part of that change and be sure that whatever they do results in an effective and long-term solution.  

To read the full article, click here.