Foundation Donors Are More Likely to Seek Advice From Peers Than From Advisers

Title: Client Survey on Philanthropic Advice — October 2015“

Organization: Foundation Source

Summary: High-net-worth private-foundation donors are more likely to value the opinions of other wealthy donors than of paid advisers when making decisions about their philanthropy, according to the survey of 167 grant makers by Foundation Source, which provides support services to such organizations.

Nearly 35 percent preferred to seek guidance from a “philanthropic peer,” 28 percent would seek no advice, and only 16 percent would ask a professional adviser.

However, a significant portion of the donors surveyed expressed some interest in seeking a financial adviser’s help in getting younger generations of their families involved in philanthropy and in making decisions about impact investing or investing assets to further a charitable cause

Respondents said they would likely talk to a financial adviser in the coming year to get advice about:

• Preparing younger family members for philanthropy (30 percent).
• Impact investing (25 percent).
• A major gift (22 percent).